Antecedents and Consequences of Financial Literacy: A Comprehensive Systematic Literature Review of the Past Decade

DOI

10.2991/978-94-6463-698-7_2How to use a DOI?

Keywords

Financial Literacy; Antecedent; Consequence; Literature Review

Abstract

Purpose – The rapid development of financial technology has facilitated limitless access for the public. Financial literacy has gained popularity alongside the growing number of financial service users worldwide. In this context, this study aims to identify the antecedents and consequences of financial literacy by synthesizing existing research. Methodology – This study uses a systematic literature review approach to identify the antecedents and consequences of financial literacy. It also reviews the descriptive, publication, theoretical, research methodology, and geographical coverage of 32 studies identified from the Emerald database between 2014 and 2024. Findings – The results reveal various antecedents of financial literacy, including Income, Education, Gender, Experience, Financial Knowledge, Parental Influence, Behavioral Biases, Social Capital, and Cultural Factors. Additionally, the consequences identified are Improved Financial Decision-Making, Increased Stock Market Participation, Entrepreneurial Success, Reduction in Financial Vulnerability, Better Portfolio Diversification, Decreased Risky Financial Behavior, and Enhanced Financial Inclusion. Furthermore, an integrated framework is presented to synthesize existing research and guide future finance researchers, particularly in financial literacy. Originality – This integrated approach offers a clear framework that connects key antecedents and consequences of financial literacy, providing fresh insights for future research and policy development.

Copyright

© 2025 The Author(s)

Open Access

Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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TY  - CONF
AU  - Eni Purnasari
AU  - Sri Hermuningsih
AU  - Riskin Hidayat
AU  - Syamsul Hadi
AU  - Atul Kumar
PY  - 2025
DA  - 2025/04/30
TI  - Antecedents and Consequences of Financial Literacy: A Comprehensive Systematic Literature Review of the Past Decade
BT  - Proceedings of the 3rd International Conference on Management and Business (ICOMB 2024)
PB  - Atlantis Press
SP  - 3
EP  - 14
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-698-7_2
DO  - 10.2991/978-94-6463-698-7_2
ID  - Purnasari2025
ER  -