The Journal of Accounting and Management, Vol 7, No 2 (2017)

Gender Disparity In Financial Literacy: Evidence From Homogeneous Group

Anokye M Adam


This paper interrogates the reality or otherwise the gender disparity in financial literacy using a homogenous group of randomly selected and 560 responded business students of School of Business, University of Cape Coast, Ghana. The intention is to provide better understanding of the confounding issues of gender as a determinant of financial literacy.

Using a Chi-square and Independent t-test, this study analysed gender disparity in financial literacy of homogeneous group of 560 business students

The male respondents were found to have an advantage in computational ability whilst the females are advantaged in non-computational ability.  This observed nominal difference was, however, found not to be significant through chi-square test of independence and independent t-test. Again, the effect sizes in all cases are very small which suggest diminishing differences due to the homogeneous nature of the sample.

 The implication is that documented significant sex difference favouring male in financial literacy could emanate from sample dissimilarity and that irrespective of one’s financial orientation or experience, subsequent financial education is capable of bridging the literacy gap. This is important for the policy to bridge the sex gap in financial literacy. 


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