Financial literacy is generally seen as an important factor explaining a broader set of investment behaviors. In the context of a weak financial knowledge in France, this article focuses on the particular situation of Generation Z (individuals born after 1995) and more particularly management students likely to be involved in financial decisions in the near future.
The analysis is based on a survey conducted in the Fall of 2019, through a questionnaire distributed to 300 students enrolled in a French business school.
The results indicate that financial knowledge is poor for students who do not follow a specialized course in finance. This research also demonstrates the importance of risk behavior, showing that risk adverse students are also those with the lowest level of financial literacy.
This article contributes to the academic literature by focusing on students in France. It is the first study to examine Gen Z financial literacy and its implications. It raises awareness on the importance of financial education in the education curriculum.
