Related Experiment Video
Updated: Jul 26, 2025
08:27
Applying an eMASS Customization Program as a Research Tool to Evaluate Consumer Benefits
Published on: September 27, 2019
7.0K
Financial literacy, behavioral traits, and ePayment adoption and usage in Japan
Trinh Quang Long1, Peter J Morgan2, Naoyuki Yoshino3
1Faculty of Business, FPT University HCM Campus, Ho Chi Minh City, Vietnam.
Financial Innovation
|June 16, 2023
Summary
Higher financial literacy boosts electronic payment (ePayment) adoption in Japan. Risk aversion hinders ePayment use, while herd behavior encourages it, influencing financial literacy
Area of Science:
- Behavioral Economics
- Financial Technology (FinTech)
Background:
- Electronic payment (ePayment) services are transforming global transactions.
- Understanding factors influencing ePayment adoption is crucial for financial inclusion and innovation.
- Japan presents a unique market for studying ePayment adoption due to its specific economic and social characteristics.
Purpose of the Study:
- To investigate the impact of financial literacy and behavioral traits on ePayment adoption in Japan.
- To analyze the relationship between financial literacy and the usage of electronic money and mobile payment apps.
- To explore how individual behavioral tendencies modify the effect of financial literacy on ePayment uptake.
Main Methods:
- Construction of a financial literacy index using data from the Bank of Japan's 2019 Financial Literacy Survey (n=25,000).
- Analysis of extensive and intensive usage of e-money and mobile payment apps.
- Application of an instrumental variable approach to establish causality.
Main Results:
- Higher financial literacy is positively correlated with increased likelihood and frequency of ePayment adoption and usage.
- Risk aversion is associated with lower adoption and usage of ePayment services.
- Herd behavior positively influences ePayment adoption and usage.
- The impact of financial literacy on ePayment adoption varies significantly across different behavioral trait groups.
Conclusions:
- Financial literacy is a key driver for ePayment adoption in Japan.
- Behavioral traits like risk aversion and herd mentality play significant roles in shaping ePayment usage patterns.
- Tailored strategies considering financial literacy levels and behavioral traits are needed to promote ePayment adoption effectively.
Keywords:
Electronic moneyFinancial literacyFinancial literacy heterogeneityHerd behaviorJapanMobile payment appRisk aversionePayment adoptionePayment usageMore Related Videos
11:00Reliable Acquisition of Electroencephalography Data during Simultaneous Electroencephalography and Functional MRI
Published on: March 19, 2021
4.5K
08:24The Joint Effect of Social Comparison and Social Distance on Evaluation of Intertemporal Choice Outcomes in Event-related Potential Studies
Published on: August 25, 2023
776
Related Concept Videos
01:21Characteristics of JFET
578
Junction Field Effect Transistors (JFETs) exhibit specific operational characteristics based on the relationship between the drain current (id) and the drain-source voltage (Vds), along with varying gate-source voltages (Vgs).
The core of a JFET's operation is controlling drain current by modulating the gate-source voltage. When the drain and gate voltage are set to zero, the JFET exhibits no net current flow, representing a state of equilibrium. The drain current increases linearly as the...
The core of a JFET's operation is controlling drain current by modulating the gate-source voltage. When the drain and gate voltage are set to zero, the JFET exhibits no net current flow, representing a state of equilibrium. The drain current increases linearly as the...
578
01:20Actuarial Approach
101
The actuarial approach, a statistical method originally developed for life insurance risk assessment, is widely used to calculate survival rates in clinical and population studies. This method accounts for participants lost to follow-up or those who die from causes unrelated to the study, ensuring a more accurate representation of survival probabilities.
Consider the example of a high-risk surgical procedure with significant early-stage mortality. A two-year clinical study is conducted,...
Consider the example of a high-risk surgical procedure with significant early-stage mortality. A two-year clinical study is conducted,...
101
01:30Current Trends in Nursing II
1.3K
Trends in nursing are multifactorial and associated with changes in society, within the nursing profession, and in other professions. Notably, telehealth and remote nursing contribute to successful healthcare delivery for numerous patients and help reduce stress for nurses due to nursing shortages. Nurses can reach patients, monitor their conditions, and interact with them using computers, audio, visual accessories, and telephones—for example, remote patient monitoring systems. Likewise,...
1.3K
01:14Decision Making: Traditional Method
4.1K
The process of hypothesis testing based on the traditional method includes calculating the critical value, testing the value of the test statistic using the sample data, and interpreting these values.
First, a specific claim about the population parameter is decided based on the research question and is stated in a simple form. Further, an opposing statement to this claim is also stated. These statements can act as null and alternative hypotheses, out of which a null hypothesis would be a...
First, a specific claim about the population parameter is decided based on the research question and is stated in a simple form. Further, an opposing statement to this claim is also stated. These statements can act as null and alternative hypotheses, out of which a null hypothesis would be a...
4.1K
02:05Self-Presentation: Self-Monitoring and Self-Handicapping
39.1K
People can go to great lengths to protect their self-image and present themselves in ways that they want others to see them. Sociologist Erving Goffman presented the idea that a person is like an actor on a stage. Calling his theory dramaturgy, Goffman believed that we use “impression management” to present ourselves to others as we hope to be perceived. Each situation is a new scene, and individuals perform different roles depending on who is present (Goffman, 1959). Think about...
39.1K
01:17Traits and States
278
Personality traits represent consistent patterns in behavior, thoughts, and emotions, reflecting an individual's tendencies across various situations. For example, extraversion, a well-known trait, manifests in individuals as talkative, energetic, and enthusiastic behaviors. These traits are stable over time, offering a reliable framework for predicting how people might act in different contexts. However, they do not define every moment of an individual's life. In contrast to traits,...
278