86199 20231221135830.0 doi 10.1111/ijcs.12502 sideral 109134 ART-2019-109134 eng Mancebón, María-Jesús Universidad de Zaragoza (orcid)0000-0002-9111-0461 Factors that influence the financial literacy of young Spanish consumers 2019 Access copy available to the general public Unrestricted This study examines the development of mathematical and financial literacy skills amongst 471 students in Spain. Most studies on this topic have looked at either one or the other skill but they have not examined the relationship between the two. The use of simultaneous equations has enabled us to do so. The aim of the paper is to disentangle the factors determining the financial skills of young consumers in Spain. To do this, the PISA Financial Literacy Assessment conducted by the OECD in 2012 is used. Our paper’s main contribution lies in the methodological way to deal with the empirical challenges overshadowing our study. Particularly, our methodological strategy is defined by the application of a multi-level model of simultaneous equations (MSiEM). This method allows us to take into account the simultaneous determination of math and financial skills at school and the nested structure of the database. This MSiEM permits the identification of the determinants of financial skills, differentiating between the influences operating at school level from those at student level. A first conclusion is that the development of financial abilities of young consumers is mediated by their mathematical skills. A second conclusion, in accordance with those of other international studies, is the importance of the family on the financial literacy of 15-year-old Spanish students. The family, a first-order determinant in reading, science and math scores, is also a key variable in the development of financial skills. Finally, school type (public vs. private) does not display any effect on either the financial or math performance of Spanish young people. info:eu-repo/grantAgreement/ES/MINECO/EDU2013-42480-R info:eu-repo/semantics/openAccess All rights reserved http://www.europeana.eu/rights/rr-f/ 1.538 2019 BUSINESS 121 / 152 = 0.796 2019 Q4 T3 0.678 2019 Applied Psychology 2019 Q2 Public Health, Environmental and Occupational Health 2019 Q2 Marketing 2019 Q2 Economics and Econometrics 2019 Q2 info:eu-repo/semantics/article info:eu-repo/semantics/acceptedVersion Ximénez-de-Embún, Domingo P. Universidad de Zaragoza (orcid)0000-0003-3337-217X Mediavilla, Mauro Gómez-Sancho, José-María Universidad de Zaragoza (orcid)0000-0003-3898-8889 4008 225 Universidad de Zaragoza Dpto. Estruc.Hª Econ.y Eco.Pb. Área Economía Aplicada 4000 415 Universidad de Zaragoza Dpto. Análisis Económico Área Fund. Análisis Económico 43, 2 (2019), 227-235 Int. j. consum. stud. INTERNATIONAL JOURNAL OF CONSUMER STUDIES 1470-6423 422524 http://zaguan.unizar.es/record/86199/files/texto_completo.pdf Postprint 78039 http://zaguan.unizar.es/record/86199/files/texto_completo.jpg?subformat=icon icon Postprint oai:zaguan.unizar.es:86199 articulos driver 2023-12-21-13:42:02 ARTICLE