Financial literacy among Finnish adolescents in PISA 2018: the role of financial learning and dispositional factors

Large-scale Assessments in Education

An IERI – International Educational Research Institute Journal

Table 4 Predicting financial literacy by financial learning and dispositional factors, controlling for demographics

	Financial literacy
	Model 1 R² = 3.5%			Model 2 R² = 27.1%			Model 3 R² = 28.8%			Model 4 R² = 32.4%
	β	S.E	p	β	S.E	p	β	S.E	p	β	S.E	p
Financial learning factors
Financial education in school lessons	0.193	0.021	< 0.001				0.130	0.017	< .0.001	0.081	0.017	< 0.001
Parental involvement in matters of financial literacy	− 0.044	0.017	0.010				− 0.071	0.015	< 0.001	− 0.068	0.014	< 0.001
Dispositional factors
Competitiveness				0.122	0.016	< 0.001	0.122	0.016	< 0.001	0.087	0.017	< 0.001
Work mastery				0.102	0.016	< 0.001	0.091	0.016	< 0.001	0.098	0.016	< 0.001
Meta-cognition: understanding and remembering				0.094	0.017	< 0.001	0.094	0.017	< 0.001	0.099	0.017	< 0.001
Meta-cognition: summarizing				0.126	0.019	< 0.001	0.128	0.019	< 0.001	0.149	0.017	< 0.001
Meta-cognition: assess credibility				0.326	0.015	< 0.001	0.317	0.015	< 0.001	0.303	0.015	< 0.001
Control variables
Gender (1 female, 2 male)										0.108	0.018	< 0.001
Grade										0.164	0.016	< 0.001
Highest education of parents										0.119	0.016	< 0.001
Family wealth										0.003	0.015	0.842