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

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

  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
  1. In bold—significant predictors at the p < .05 level