Table 3 Determinants of income levels...

Table 3

Determinants of income levels

IVs	SEM	OLS	Logit
	(1)	(2)	(3)
Fintech usage	0.056**	0.055**
	(2.141)	(2.093)
Fintech usage: Low vs high			−1.186***
			(9.548)
Financial literacy	0.067***	0.066***
	(5.744)	(5.662)
Financial literacy: lower vs			−1.099***
higher than average			(17.029)
Gender (Male = 1)	−0.003	−0.002
	(−0.035)	(−0.031)
Female vs male			0.066
			(0.077)
Age	0.052	0.052
	(1.393)	(1.384)
Under 25 vs over 45 years old			−0.759*
			(3.644)
Education	0.154*	0.151*
	(1.660)	(1.608)
University vs Master or higher			0.237
			(0.349)
Marital status (Married = 1)	−0.026	−0.026
	(−0.307)	(−0.304)
Single vs married			0.177
			(0.423)
Work experience	0.077*	0.080*
	(1.797)	(1.805)
Work experience: less vs more			−0.986
			(1.405)
Explorer trait	0.243***	0.049
	(2.971)	(1.061)
Explorer trait: less vs much			−0.074
			(0.022)
Intercept/-2 Log Likelihood		1.808***	571.14
R²/Adjusted R²/Pseudo R²	0.121	0.105	0.172
Chi-square/F Change	0.094***	7.585***	612.18***
Df	1	8	20

IVs	SEM	OLS	Logit
	(1)	(2)	(3)
Fintech usage	0.056**	0.055**
	(2.141)	(2.093)
Fintech usage: Low vs high			−1.186***
			(9.548)
Financial literacy	0.067***	0.066***
	(5.744)	(5.662)
Financial literacy: lower vs			−1.099***
higher than average			(17.029)
Gender (Male = 1)	−0.003	−0.002
	(−0.035)	(−0.031)
Female vs male			0.066
			(0.077)
Age	0.052	0.052
	(1.393)	(1.384)
Under 25 vs over 45 years old			−0.759*
			(3.644)
Education	0.154*	0.151*
	(1.660)	(1.608)
University vs Master or higher			0.237
			(0.349)
Marital status (Married = 1)	−0.026	−0.026
	(−0.307)	(−0.304)
Single vs married			0.177
			(0.423)
Work experience	0.077*	0.080*
	(1.797)	(1.805)
Work experience: less vs more			−0.986
			(1.405)
Explorer trait	0.243***	0.049
	(2.971)	(1.061)
Explorer trait: less vs much			−0.074
			(0.022)
Intercept/-2 Log Likelihood		1.808***	571.14
R²/Adjusted R²/Pseudo R²	0.121	0.105	0.172
Chi-square/F Change	0.094***	7.585***	612.18***
Df	1	8	20

Note(s): ***: p < 1%; **: p < 5%, *: p < 10%. Dependent variable: Income levels. t-test in the parenthesis. SEM indicator: AGFI = 0.998; RFI = 0.993, TLI = 1.074; RMSEA = 0.004

Source(s): Authors’ own work

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