The role of social media in empowering digital financial literacy
- Title
- The role of social media in empowering digital financial literacy
- Creator
- Baranidharan S.; Vasani Sankarkumar A.; Chandrakala G.; Narayanan R.; Sathyanarayana K.
- Description
- This systematic review examined the role of social media in enhancing financial literacy among individuals by collecting and reviewing 60 articles published from 2021 to 2023. The findings revealed that social media has a positive impact on financial literacy through the dissemination of financial education, promotion of financial awareness, and sharing of financial experiences. The review also identified digital financial literacy, entrepreneurial learning, and financial knowledge as significant determinants of financial literacy, while demographic characteristics, social media usage behavior, risk attitude, and overconfidence played a role in determining financial literacy. The study recommends that financial institutions, policymakers, and educators leverage social media for promoting financial literacy, and social media usage skills to improve financial literacy among individuals. Overall, the study suggests that the use of social media can democratize financial literacy and enable individuals from diverse backgrounds to access financial education and information. Copyright 2023, IGI Global. Copying or distributing in print or electronic forms without written permission of IGI Global is prohibited. 2023 by IGI Global. All rights reserved.
- Source
- Global Perspectives on Social Media Usage Within Governments, pp. 80-96.
- Date
- 2023-01-01
- Publisher
- IGI Global
- Coverage
- Baranidharan S., CHRIST University (Deemed), India; Vasani Sankarkumar A., SRM Institute of Science and Technology, India; Chandrakala G., Dayananda Sagar University, India; Narayanan R., Dayananda Sagar University, India; Sathyanarayana K., Presidency University, India
- Rights
- Restricted Access
- Relation
- ISBN: 978-166847451-8; 978-166847450-1
- Format
- Online
- Language
- English
- Type
- Book chapter
Collection
Citation
Baranidharan S.; Vasani Sankarkumar A.; Chandrakala G.; Narayanan R.; Sathyanarayana K., “The role of social media in empowering digital financial literacy,” CHRIST (Deemed To Be University) Institutional Repository, accessed February 23, 2025, https://archives.christuniversity.in/items/show/18269.