Số 240 | Tháng 3/2026
Năng lực tài chính số và hành vi tài chính: Bằng chứng tại Việt Nam
Nguyễn Thị Ngọc Loan
Tóm tắt:
Mục tiêu nghiên cứu: Bài viết đánh giá tác động của năng lực tài chính số (DFL) đến hành vi tài chính cá nhân (FB). Đồng thời, nghiên cứu phân tích sự khác biệt trong ảnh hưởng của các thành phần DFL đến từng loại FB trong bối cảnh chuyển đổi số của Việt Nam.
Thiết kế nghiên cứu/phương pháp/tiếp cận: Dữ liệu được thu thập từ 329 cá nhân có tài khoản ngân hàng qua khảo sát trực tuyến từ tháng 2–3 năm 2025. Nghiên cứu sử dụng mô hình PLS-SEM nhằm kiểm định mối quan hệ giữa DFL và FB, cũng như vai trò riêng biệt của từng thành phần DFL.
Kết quả nghiên cứu chính: Kết quả cho thấy DFL tổng thể có ảnh hưởng cùng chiều đến FB. Tuy nhiên, chỉ có ba thành phần gồm kiến thức tài chính, khả năng nhận thức và kỹ năng ra quyết định có tác động cùng chiều; trong khi kiến thức thực tiễn có ảnh hưởng ngược chiều, và kiến thức kỹ thuật số cùng khả năng tự bảo vệ không có tác động.
Giá trị đóng góp mới: Nghiên cứu cung cấp bằng chứng thực nghiệm tại Việt Nam về tác động đa chiều và không đồng nhất của DFL đến FB, qua đó hàm ý chương trình giáo dục tài chính số nên tập trung vào phát triển nhận thức và năng lực ra quyết định thay vì chỉ truyền đạt kiến thức lý thuyết hoặc kỹ thuật số.
Tài liệu tham khảo:
- Abdallah, W., Tfaily, F., & Harraf, A. (2025). The impact of digital financial literacy on financial behavior: customers’ perspective. Competitiveness Review: An International Business Journal, 35(2), 347-370. https://doi.org/10.1108/cr-11-2023-0297.
- Ajzen, I. (1991). The theory of planned behavior. Organizational Behavior and Human Decision Processes, 50, 179-211.
- Amalia, V., Ni, N., Sawitri, A., Wibowo, N. F., Program, S., Manajemen, F., Ekonomi, D., Bisnis, U., Bhayangkara, J., & Raya, I. (2023). The effect of financial literacy and financial self efficacy on decisions to use shopeepay digital payment services (In generation X in Kampung Delima, East Bekasi). Ekomonika, 12, 362-373.
- Aristei, D., & Gallo, M. (2021). Financial knowledge, confidence, and sustainable financial behavior. Sustainability, 13(19). https://doi.org/10.3390/su131910926.
- Bandura, A. (1986). Social foundations of thought and action. Englewood Cliffs, NJ, 1986(23-28), 2.
- Becker, G. (2017). Does FinTech affect household saving behavior. Findings from a natural field experiment, 2009, 1-47.
- Chhillar, N., Sharma, K., & Arora, S. (2025). Exploring the role of digital financial literacy and personal financial behavior in shaping financial stress and well-being in the digital age. Acta Psychologica, 259. https://doi.org/10.1016/j.actpsy.2025.105308.
- Cohen, J. (1988). Set correlation and contingency tables. Applied psychological measurement, 12(4), 425-434.
- Dewi, V. I., Febrian, E., Effendi, N., & Anwar, M. (2020). Financial literacy among the millennial generation: Relationships between knowledge, skills, attitude, and behavior. Australasian Accounting, Business and Finance Journal, 14(4), 24-37. https://doi.org/10.14453/aabfj.v14i4.3.
- Dogra, P., Kaushal, A., & Sharma, R. R. (2023). Antecedents of the Youngster’s Awareness About Financial Literacy: A Structure Equation Modelling Approach. Vision, 27(1), 48-62. https://doi.org/10.1177/0972262921996560.
- Dovie, D. A. (2018). Utilization of Digital Literacy in Retirement Planning Among Ghanaian Formal and Informal Sector Workers. Interações: Sociedade e as Novas Modernidades, 34, 113-140. https://doi.org/10.31211/interacoes.n34.2018.a6.
- Fornell, C., & Larcker, D. F. (1981). Evaluating structural equation models with unobservable variables and measurement error. Journal of marketing research, 18(1), 39-50.
- Henseler, J., & Sarstedt, M. (2013). Goodness-of-fit indices for partial least squares path modeling. Computational statistics, 28(2), 565-580.
- Hock, C., Ringle, C. M., & Sarstedt, M. (2010). Management of multi-purpose stadiums: Importance and performance measurement of service interfaces. International journal of services technology and management, 14(2-3), 188-207.
- Jakarta, M., Muhammadiyah Jakarta, S., Ispriyahadi, H., Nurlaela Wati, L., Saputra, W., Darwis, H., & Zaenudin, Z. (2022). Does Fintech Literation Affect Cashless Society and Individual Shopping Culture?. International Journal of Commerce and Finance, 8(1), 63-84.
- Kahawandala, N., Peter, S., & Niwunhella, H. (2020). Profiling purchasing behavior of Generation Z. Proceedings - International Research Conference on Smart Computing and Systems Engineering, SCSE 2020, 155-160. https://doi.org/10.1109/SCSE49731.2020.9313038.
- Kumar, P., Pillai, R., Kumar, N., & Tabash, M. I. (2023). The interplay of skills, digital financial literacy, capability, and autonomy in financial decision making and well-being. Borsa Istanbul Review, 23(1), 169-183. https://doi.org/10.1016/j.bir.2022.09.012.
- Lyons, A. C., & Kass-Hanna, J. (2021). A methodological overview to defining and measuring “digital” financial literacy. Financial Planning Review, 4(2), 1-19. https://doi.org/10.1002/cfp2.1113.
- Malady, L., & Law, U. (2016). Consumer Protection Issues for Digital Financial Services in Emerging Markets. Banking and Finance Law Review, 31, 389-401.
- Morgan, P. J., & Trinh, L. Q. (2020). Fintech and financial literacy in Viet Nam. https://www.adb.org/publications/fintech-and-financial-literacy-viet-nam.
- Nabavi, R. T., & Sadegh Bijandi, M. (2012). Bandura’s Social Learning Theory & Social Cognitive Learning Theory. https://www.researchgate.net/publication/267750204.
- Nayak, R. (2018). A conceptual study on digitalization of banking-issues and challenges in rural India. International Journal of management, IT and Engineering, 8(6), 186-191.
- Nazzal, A., Thoyib, A., Zain, D., & Sabil HUSSEIN, A. (2021). The Influence of Digital Literacy and Demographic Characteristics on Online Shopping Intention: An Empirical Study in Palestine. Journal of Asian Finance, 8(8), 205-0215. https://doi.org/10.13106/jafeb.2021.vol8.no8.0205.
- OECD. (2022). OECD/INFE survey instrument to measure digital financial literacy. https://www.oecd.org/en/publications/oecd-infe-survey-instrument-to-measure-digital-financial-literacy_548de821-en.html?.
- Panos, G. A., & Wilson, J. O. S. (2020). Financial literacy and responsible finance in the FinTech era: capabilities and challenges. European Journal of Finance, 26(4-5), 297-301. https://doi.org/10.1080/1351847X.2020.1717569.
- Perez-Falcon, N. (2017). Financial inclusion and financial literacy in Kuwait. Institute of Banking Studies Research, I(o).
- Rahayu, R., Ali, S., Aulia, A., & Hidayah, R. (2022). The Current Digital Financial Literacy and Financial Behavior in Indonesian Millennial Generation. Journal of Accounting and Investment, 23(1), 78-94. https://doi.org/10.18196/jai.v23i1.13205.
- Rai, K., & Sharma, M. (2019). A study on awareness about digital financial services among students. In Proceedings of 10th international conference on digital strategies for organizational success, 600-607. https://ssrn.com/abstract=3308732.
- Respati, D. K., Widyastuti, U., Nuryati, T., Musyaffi, A. M., Handayani, B. D., & Ali, N. R. (2023). How do students’ digital financial literacy and financial confidence influence their financial behavior and financial well-being? Nurture, 17(2), 40-50. https://doi.org/10.55951/nurture.v17i2.154.
- Stofkova, K. R., Laitkep, D., & Stofkova, Z. (2022). Shopping Behavior in the Context of the Digital Economy. Journal of Risk and Financial Management, 15(2). https://doi.org/10.3390/jrfm15020039.
- Tanoto, S., & Evelyn, E. (2019). Financial knowledge, financial wellbeing, and online shopping addiction among young Indonesians. Jurnal Manajemen Dan Kewirausahaan, 21(1), 32-40. https://doi.org/10.9744/jmk.21.1.32-40.
- Thaler, R. (1985). Mental accounting and consumer choice. Marketing Science, 4(3), 199-214.
- Van Rooij, M. C. J., Lusardi, A., & Alessie, R. J. M. (2011). Financial literacy and retirement planning in the Netherlands. Journal of Economic Psychology, 32(4), 593-608. https://doi.org/10.1016/j.joep.2011.02.004.
- Wagner, J. (2019). The Effects of Financial Education on Short-term and Long-term Financial Behaviors. Journal of Consumer Affairs, 53(1), 234-259.
- Xiao, J. J. (2008). Applying behavior theories to financial behavior. In Handbook of Consumer Finance Research (pp. 69-81). Springer New York. https://doi.org/10.1007/978-0-387-75734-6_5.
- Xiao, J. J., & O’neill, B. (2016). Consumer financial education and financial capability. International Journal of Consumer Studies, 40(6), 712-721. http://ssrn.com/abstract=2769384.
- Yadav, M., Banerji, P., & Garg, A. (2025). Digital financial literacy and retirement planning with mediating effect of saving behaviour. American Journal of Business, 40(3), 127-143. https://doi.org/10.1108/ajb-12-2023-0221.
Digital Financial Literacy and Financial Behavior: Evidence from Vietnam
Abstract:
Purpose: This study examines the impact of Digital Financial Literacy (DFL) on individual Financial Behavior (FB), while analyzing the heterogeneous effects of DFL components on different types of financial behavior within the context of Vietnam’s ongoing digital transformation.
Design/methodology/approach: Data were collected from 329 individuals with bank accounts across major cities in Vietnam through an online survey conducted between February and March 2025. The Partial Least Squares Structural Equation Modeling (PLS-SEM) technique was employed to test the relationship between DFL and FB, as well as to explore the distinct role of each DFL dimension.
Findings: The results reveal that overall DFL has a positive and significant effect on financial behavior. However, only three components-financial knowledge, cognitive ability, and decision-making skills-exert a positive influence, whereas practical knowledge shows a negative effect, and digital knowledge and self-protection capability have no significant impact.
Originality/value: This study provides empirical evidence from Vietnam on the multidimensional and non-uniform effects of DFL on financial behavior. The findings suggest that digital financial education programs should prioritize enhancing individuals’ cognitive awareness and decision-making capabilities rather than focusing solely on theoretical or technical knowledge.