Analyzing the Gender Gap in Financial Literacy

Bettina Fuhrmann, Maria Silgoner

Publication: Scientific journalJournal articlepeer-review


Studies have repeatedly shown that women answer less financial knowledge questions correctly than men. Hence, they are often identified to be a financially ‘vulnerable’ group who needs more attention in financial education. This paper explores if this holds true for the Austrian population. A survey among 2,000 respondents reveals that Austrian men outperform women in terms of financial knowledge, even if we control for different socio-demographic characteristics and response behavior. However, women seem to be less prone to spending money, are more risk averse and watch their financial status more closely. In a multiple regression analysis, knowledge, attitudes and behavior are relevant for explaining
financial well-being, but gender is not. Thus, it seems that women are not necessarily a financially vulnerable group but might benefit from acquiring more financial knowledge and gain more selfconfidence in making financial decisions.
Original languageEnglish
Pages (from-to)1779 - 1787
JournalInternational Journal for Infonomics
Issue number3
Publication statusPublished - 2018

Austrian Classification of Fields of Science and Technology (ÖFOS)

  • 503030 Business education
  • 504007 Empirical social research
  • 503007 Didactics
  • 503
  • 509004 Evaluation research

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