The Financial Literacy of College Students: Evidence From India

Manju Dahiya,1 Ercan Özen2* and Kisan Yadav1

1 School of Liberal Education, Galgotias University, Greater Noida, India

2 Faculty of Applied Sciences, University of Uşak, Turkey
*
Corresponding author. E-mail: ercan.ozen@usak.edu.tr
https://doi.org/10.12982/CMUJASR.2023.009

Editor:
Yos Santasombat,
Chiang Mai University, Thailand
Article history:
Received: July 29, 2022;
Revised: September 5, 2022;
Accepted: September 8, 2022.

ABSTRACT
This article attempts to assess the financial literacy of college students in
India through the application of a questionnaire. The OECD/INFE Toolkit for
Measuring Financial Literacy was employed to collect primary data from a random
sample of 400 active university students, using financial behavior, financial
knowledge, and financial attitude as variables. Data was analyzed by descriptive
statistics using SPSS. This study finds that the Indian students surveyed have low
financial literacy, with a score of 11.82 on a scale of 21. Students have very low
awareness of compound interest, the erosion of buying power due to inflation, the
benefits of diversification, and the use of credible information for financial decision-
making. Financial literacy is indispensable for making proper financial decisions
and financial education is important for students. Increased financial literacy will
result in less financial concern and greater financial wellbeing.

Keywords: Financial literacy, Financial wellbeing, College students.

INTRODUCTION

Humans live in a world full of choices and uncertainty. People tend to collect
and evaluate existing information before deciding on a product or service. Curiosity
to know more about products or services can help individuals make better
decisions—yet people are not often interested in learning about financial products.
The Indian economy has grown in all sectors in recent years. After
liberalization, privatization, and globalization, India has developed in its standard of
living, literacy level, savings, income, investments, etc. The economic behavior of
individuals is important, for while individuals are affected by the economic changes
happening around them, their own behavior influences these broader systemic
changes also.
Cole & Fernando (2008) define financial literacy and describe ways to
meaningfully measure it. They claim that financial literacy is indispensable for
making informed financial decisions and stress that the financial literacy of an
individual can be predicted by looking at their mathematics test scores (addition,
subtraction, multiplications, and division). For its part, the OECD and its
International Network on Financial Education (INFE) define financial literacy as
consisting of: “A combination of awareness, knowledge, skill, attitude and behaviors
necessary to make sound financial decisions and ultimately achieve individual
financial wellbeing” (OECD INFE, 2011).
Basic financial ideas need to be known and understood and the capacity to
apply this knowledge to financial decisions is part of financial literacy. To survive in
a world full of dreams, the conversion financial literacy is mandatory. Financial
literacy is a major quality with the power to change individuals’ lives and hence
bring change to a country’s economic system (Ersoy & Özen, 2022). Innovation in
new products and services has made financial markets complex as well as
rewarding. To take proper financial decisions that address one’s needs at any
particular time, financial literacy is required, and so it has become of interest to
many policymakers and government organizations.
The three important terms of income, savings, and investments, make up the
key success factors that provide investors with wings to fly in the sky. A proper
combination of personal financial literacy and sound financial decisions can create
wonders in the financial system of a country. To make wise investment decisions,
one needs good evaluative and decision-making skills, assisted by financial literacy.
Much research has been done on the financial literacy of college students in
countries like United Kingdom, United States, Indonesia, Germany, and Poland
(Swiecka et al., 2020). But very little work has been done on financial literacy in
India. This study aims to provide an understanding of the present financial literacy
of college students in India in order to assist academics and policymakers intervene
to increase the financial literacy of college students.

LITERATURE REVIEW

Garman et al. (1996) suggested that if employees gained financial guidance

and knowledge to manage their finances wisely, poor financial decisions could be
corrected or avoided. Financially literate people are better able to save for retirement
(Garman, 1997) because they are more likely to plan for it, which puts them at a
more advantaged position in their older life. Increasing financial literacy might be
advantageous for thinking about retirement savings strategy.
Bauer et al. (2000) concluded that financial literacy helps students invest and
save money, manage debt, manage monetary and financial affairs, and live within
their means. Sarah (2009) studied the interconnectedness of financial behavior,
financial knowledge, and cultural values, documenting that a positive correlation
exists between financial knowledge and financial behavior. The European
Microfinance Network (2010) states that financially literate individuals have a good
understanding about how to cope with and manage risk through methods like
insurance. A sound ability to judge risk leads to purchasing insurance and to other
activities such as hedging, which reduces the burden to the financial system.
Wagner (2014) suggested that risk aversion can affect how a person behaves
financially. The implication is that financial behavior may be driven more by an
individual’s ability to take on financial risk rather than their ability to confront
financial risk. Mahmood (2011) argues that financial literacy skills enable individuals
to make informed investment decisions concerning their investment, minimizing the
chances of investors being misled about financial matters. Gaurav & Singh (2012, p.
358-380) conducted a study on assessing financial aptitude, cognitive ability, and
debt literacy. They stressed that “a better understanding of financial literacy can lead
to an inclusive financial system that is sensitive to rural households’ cognitive and
informational limitations.”
West (2012) found that there is very little evidence to show an immediate
connection between education, financial literacy, and financial behavior, revealing
that although an individual may have high levels of awareness of the aspects of
personal financial literacy, this does not always result in good financial behavior.
Bhushan & Medury (2014) studied the interrelationship between financial behavior,
financial knowledge and financial attitude, aiming to improve the level of personal
financial literacy among people by developing a model of financial literacy. The
authors found that there is a strong interrelationship between financial behavior,
financial knowledge, and financial attitude, and that financial literacy could be
affected by all three factors—with financial behavior on top. The authors further
pointed out that the focus must be on developing positive financial behavior.
Frijns et al. (2014) argues that there is a positive correlation between stock
market experience and financial literacy, I.e., financial literate individuals have high
stock market participation. Individuals with above average financial experience also
have greater financial literacy. Agarwalla et al. (2015) scrutinized the impact of
various socio-demographic factors on the levels of financial knowledge, attitude, and
behavior of young individuals by issuing and studying data from a questionnaire.
The authors found that there is a high level of education among some individuals
who score poorly on the financial literacy scale. This is because of the absence of
information relating to financial literacy in the education system. The other reason is
the wide prevalence of joint-family and uninformed financial decisions. Another
noteworthy conclusion is that there exists a positive association between financial
behavior and financial knowledge.
Agnew & Cameron-Agnew (2015) found that the most significant factor for
financial literacy is financial discussions in the home, which had far-reaching effects
on children and young adults. The authors show that socialization and discussions
of financial matters at home are also subject to gender bias which leads to variation
in financial literacy between genders. Madhulata (2016) questioned 200 people in
rural Sonipat District, Haryana State, India about their awareness of financial
literacy, revealing that gender, income, nature of work, and level of education are all
crucially associated with basic financial literacy, but age has no such association.
Murendo & Mutsonziwa (2017) used primary survey data from a sample of
4,000 people in Zimbabwe to analyze the factors of financial literacy and their effect
on individuals’ personal savings decisions. Econometric analysis showed that higher
financial literacy has a positive interconnectedness between savings behavior for
residents of urban and rural localities. Kadoya et al. (2018) found that more
financially literate individuals amass more assets over time, resulting in reduced
anxiety in their old age.
 SIGNIFICANCE OF THE STUDY

Financial literacy is a new idea to India and little research has been done on it
in the Indian context. This article aims to study the awareness of financial literacy
held by college students. If financial literacy is imparted to young people, it is more
likely that they will take better steps in life to generate a corpus of wealth. For
example, a person with high financial literacy has a higher probability of planning
better for their retirement–there is a significant correlation between planning for
retirement and financial success. They are also more likely to invest in the stock
market—strongly related to building long term wealth. This study identifies areas
where students are weak in financial literacy concepts. This will aid educators,
financial institutions and regulators to create financial literacy courses connected to
the financial environment of the country and help college students achieve greater
“financial freedom” and better plan to cope with their retirement periods.
This article relates the financial knowledge, financial behavior, and financial
attitude of undergraduate students in India and their level of knowledge about
various investment avenues and financial technologies. It will help to discover
whether financial literacy has a significant impact on undergraduate students’
decision-making. This article will help us get a better understanding of
undergraduate students’ awareness of financial products, financial technologies, and
digital economy benefits. It will help develop knowledge about the attributes
impacting students’ attitudes and evaluate the significance of these attributes for the
decision-making of undergraduate students.

METHODOLOGY

A financial literacy scale for OECD member nations (OECD, 2022) was used to
create an online survey based on India’s particular circumstances and financial
products and services. The survey’s respondents were found through a random
sampling technique. The primary survey was conducted in the cities of Greater
Noida in the state of Uttar Pradesh and in New Delhi. The questionnaire was
administered to 400 students and received 378 responses. A total of 352 were valid
for analysis. An independent T-test and a One-way Analysis of Variance (ANOVA)
test were used to determine if there were significant differences in the financial
literacy scores of respondents based on factors like demographics, family profiles,
gender etc.

FINDINGS

ANALYSIS OF MEAN DIFFERENCES USING INDEPENDENT T-TEST

Although the students’ total financial literacy was found to be low, the cross-
tabulation of accurate scores shows that there are substantial variances in financial
literacy scores among the different students based on exposure to financial products,
as mentioned above. Table 1 shows that the mean differences among male and
female respondents were -0.25551, -0.40864, -0.36301, -0.51370 and -1.37323 in the
General, Savings and Borrowing, Investment, and Insurance scores and in the
Overall Financial Literacy score. The respective mean score differences among
business and economics students and non-business and economics students were -
1.20132, -0.70554, -0.71508, -1.35877- and -4.10636.

Table 1. Results of independent t- test of survey data to show difference in means.

General Saving & Investment Insurance Financial

Borrowing Literacy
a. Gender
Male vs. Female -0.25551 -0.40864 -0.36301 -0.51370 -1.37323
F. Statistics 13.057 0.009 0.485 0.386 6.526
b. Field of Study
Business Major vs. non - 1.20132 -0.70554 -0.71508 -1.35877 -4.10636
F. Statistics 0.814 3.782 6.079 2.608 6.290

FINANCIAL LITERACY DIFFERENCE BY GENDER

Table 2 shows that the F statistic result is 8.994 and the significance value is
0.003, which is less than the 0.05 at the five percent significance level, so there is a
considerable difference in financial literacy by gender among Indian college
students. Based on the previous table in cross-tabulation, male respondents were
found to be more knowledgeable (49.8 percent) than female respondents (44.8
percent). The differences for all components are statistically significant. The findings
from the survey indicate that males are more likely to be financially literate than
females at the 0.05 level. Hence, there is a considerable gender difference in the
financial literacy of Indian college students. This is consistent with studies in other
locations (Al-Tamimi & Kalli, 2009; Beal & Delpachitra, 2002; Bumcrot et al., 2011;
Chen & Volpe, 1998; Danes & Haberman, 2007; Manton et al., 2006; Volpe et al.,
1996).

Table 2. Independent t-test of survey data showing a difference in means.

Sum of Squares Df Mean Square F Sig.

Between Groups 180.012 1 180.012 8.994 .003

Within Groups 7,605.278 380 20.014
Total 7,785.291 381
 DIFFERENCE IN FINANCIAL LITERACY LEVEL BASED ON YEAR OF
STUDY

Table 3 shows the F statistic result of 37.027 and significance value of 0, which
is less than 0.05, or the five percent significance level. Consistent with the previous
cross-tabulation table, this indicates there is a considerable difference in all
dimensions of financial literacy based on the year of study completed by the
students surveyed.

Table 3. ANOVA test of financial literacy level and respondents’ year of study.

Sum of Squares Df Mean Square F Sig.

Between Groups 1,272.538 2 636.269 37.027 0.00
Within Groups 6,512..753 379 17.184
Total 7,785.291 381

The tests on general finance issues, saving and borrowing, investment,

insurance for the entire survey are significant at the five percent significance level.
Third-year students were found to be more financially knowledgeable than second-
year students, who were more knowledgeable than first-year students, because
third-year students take more finance courses than first-year students. One can
understand from this that education is a method helping people increase their
financial knowledge. A student’s financial literacy is significantly influenced by their
academic year. This result is consistent with past research (Chen & Volpe, 1998;
2002).

PROFILE OF RESPONDENTS

The average score of Indian students’ personal financial literacy was 56

percent. This indicates that the majority of university students answered accurately
some of the questions provided in the questionnaire. However, referring to Chen &
Volpe’s classification (1998), this overall average of personal financial literacy falls
into the low category. Students were extremely capable within the field of financial
behavior but outcomes were low in financial knowledge and financial attitude.
Table 4. Percentage analysis of the demographic profile of respondents.

Variables Categories Frequency Percentage

Gender Male 232 65.9 %
Female 112 31.8 %
Others 8 2.3 %
Family Income Band Up to ₹20,429 a month 48 13.6 %
₹20,429 - ₹34,050 a month 56 15.9 %
₹34,050 or more a month 176 50 %
Do Not Know 48 13.6 %
Refused 24 6.8 %
Age Band 18-19 48 13.6 %
20-29 272 77.3 %
30-39 32 9.1 %
Work Situation Student 248 70.5 %
Self-Employed 40 11.4 %
Paid Employment 64 18.1 %

Table 5. Average personal financial literacy score by area.

Level of Personal Financial Literacy

Area of Personal Finance Low Medium High
<60% 60-79% ≥80%
Financial Knowledge 54.21%
Financial Behavior 60.8%
Financial Attitude 55.55%

FINANCIAL KNOWLEDGE

The first set of questions evaluated elementary principles in finance such as

the impact of inflation on spending power, simple interest, the effect of
compounding interest, the benefits of diversification, and the linkage and relation
between risk and return. Table 6 lists questions about the definition of inflation (72.7
percent), and the relationship between risk and return (68.2 percent). Another
question in this set was about simple interest and identification of interest and 65.9
percent of students were able to define ‘simple interest’ correctly.
Table 6. Financial knowledge awareness.

Level of Awareness
Information Collected Aware Not Aware
Frequency Percentage Frequency Percentage
Impact of Inflation on Spending Power 136 38.6 216 61.4
Identification of Interest 216 61.4 136 38.6
Simple Interest 232 65.9 120 34.1
Compound Interest 104 29.5 248 70.5
Risk & Reward 240 68.2 112 31.8
Definition of Inflation 256 72.7 96 27.3

There was also, worryingly, a low level of understanding of compound

interest. This question was answered properly by only 29.5 percent of respondents,
and 70.5 percent of students thought there was no distinction between simple and
compound interest. The influence of inflation on spending power was examined in
another question; only 25 percent of students correctly answered that inflation
diminishes buying power while 13.6 percent of students said that despite inflation,
purchasing power relies on the types of products that they wish to buy. Respondents
received an overall score of 3.795 on a 7-point scale in financial knowledge. This puts
it in the category of low awareness of financial literacy.

FINANCIAL ATTITUDE

Financial attitudes and preferences are a critical part of financial literacy. If

students have a negative attitude toward saving for their future, then they will be
less inclined to do so. In the same way, if students focus on short-term wants, then
they are less likely to save for emergencies or to make longer-term financial plans for
their life.
The OECD financial literacy survey comprises three statements that seek to
understand respondents’ views on money and planning for the future. The attitude
questions ask respondents whether they agree or disagree with various propositions.
An average financial attitude score of above three is regarded as a “high” score since
it demonstrates attitudes toward the longer-term.
According to table 7, the answers that respondents showed the best financial
literacy were to the question: “I tend to live for today and let tomorrow take care of
itself.” Students scored 3.068 on a scale of five in this financial attitude question. The
answers displaying the poorest financial literacy were the financial attitude
questions involving views on the “the desire to spend money rather than to save it
for the long term” and “money is there to be spent.” Respondents scored 3.023/5 in
both the questions. Students scored an overall score of 3.04/5 which comes under
the ‘high’ category.
Table 7. Financial attitude.

Financial Attitude Score Overall Score

“I find it more satisfying to spend money than to save it for the

3.023/5
long term.”
“Money is there to be spent.” 3.023/5 3.04/5

“I tend to live for today and let tomorrow take care of itself.” 3.068/5

FINANCIAL BEHAVIOR

Financial behavior has a tremendous impact on the financial wellbeing of

college students. Therefore, it is vital to incorporate it into measures of financial
literacy. The OECD INFE questionnaire used in this study does so by addressing a
set of questions in diverse variations, to discover habits such as: considering before
purchasing a product, punctual bill payments, budgeting, saving, and indebtedness.
The financial behavior level shown in table 8 evaluates positive behavior. It
takes a maximum value of nine, and a score of six or more is assumed to be
relatively high. Students obtained a total score of 4.99/9.00, which is in the medium
level of positive financial behavior.

Table 8. Positive financial behaviors.

Percentage of Students Following

Type of Information Collected
Positive Financial Behaviors
Carefully Considers purchases 81.8
Timely Bill Payments 79.5
Behavior Careful About financial affairs 59.1
Statements Long Term Goal 47.7
Budget 50.0
Saves Actively 100.0
…after gathering some info 31.8
Selection of
… after using “independent info” 18.2
Financial Products
No borrowing to make ends meet 56.8

There is wide variation among respondents’ financial behavior scores.

“Choosing financial products after gathering some information” and “using
independent information or advice” were the issues where participants responded
with the lowest knowledge. Only 18.2 percent of students considered using
independent information or advice to select financial products, while 25 percent of
students chose financial products on the recommendations of family, friends, or
acquaintances which indicates that word of mouth is held in high regard in the
Indian context. While on the other hand, 10 percent of respondents had an active
saving behavior and 81.8 percent carefully considered their purchases.
 While it is crucial to focus on each aspect of financial literacy, we should also
explore how each aspect merges into financial literacy. After combining survey
response data on financial knowledge, financial attitude, and financial behavior, the
cumulative financial literacy score for the sample was 11.825, on a scale of 21.

DISCUSSION

These findings are accordant with research by Chen & Volpe (1998) in the
USA context. This study concludes that university students in India do not have
adequate levels of financial knowledge. Their low financial literacy significantly
influences their future lives because of likely poor management of their financial
affairs. Financial literacy initiatives are absent at basic and secondary education
levels. The earlier such initiatives are introduced, the better the outcomes will be for
both the students and the financial system as a whole.
Shaari et al. (2013) and Agarwalla et al. (2015) argue that the ramifications of
inadequate financial literacy go deeper than merely students’ finances. Academic
performance, work chances after graduation, mental and physical wellbeing are all
damaged by inappropriate financial management. Thus, the university sector needs
a better and more holistic strategy in addressing the financial demands of students.
As a National Council on Economic Education (2005) study recommends,
courses on personal financial literacy should be incorporated into the curriculum.
These should be mandatory for all departments. These courses must contain
experiential learning projects and practical experience, boosting engagement as well
transferring knowledge and money management skills to students.

RECOMMENDATIONS

As per the findings of this research, the below recommendations are provided
in two sections: for policymakers and universities, and for future researchers of
financial literacy.

RECOMMENDATIONS FOR POLICYMAKERS AND UNIVERSITIES

The results show that respondents from business and economics fields and
with a higher education level have higher financial literacy. Bruhn (2013) found that
the financial literacy of students in Brazil increased significantly after they were put
through an education program designed to convey concepts of financial literacy.
Additionally, their findings indicate a considerable impact on students’
understanding, financial independence, good savings behavior, and healthy
spending habits. The Government of India should introduce courses related to
finance to non-business and economics students at the university and high school
education levels. Because female students in India have lower financial literacy than
males, short and long-term financial training programs should be arranged regularly
for them to close the gap. Further, the Government of India should cooperate with
other sectors to develop a policy on financial literacy and assign responsibilities of
giving short trainings to Indian youth. The policy should include a working plan to
improve financial literacy using different strategies.
 Given this study found education institutions are core to improving financial
knowledge, university authorities in India should introduce workshops, seminars or
trainings to introduce basic financial issues to higher education students not enrolled
in business or economics subjects, who have lower financial literacy than business
students. Universities should encourage females to participate and improve their
financial knowledge. Students must consider financial knowledge to be very
important to their studies since they are going to make decisions independently in
the near future. In order to better promote and coordinate improved financial
literacy, national, regional, local public and private initiatives need to work together.
Financial literacy ensures individuals are informed and empowered to make their
own financial decisions.

RECOMMENDATIONS FOR FUTURE RESEARCH

Given this study shows that women have lower financial literacy than men,
further research is needed on why this is, and how it relates to saving habits and
investment behavior. Future studies should include variables not covered in this
study, such as relating financial literacy to retirement preparedness, how financial
institutions affect financial literacy programs and initiatives, and the impact of
financial literacy on economic development. The sample also needs to be expanded.
Students in other parts of India should be surveyed. Similar research could also be
undertaken on other demographics: investors, employees or other individuals to
assess their financial knowledge and decision-making ability on finance issues.

PRACTICAL IMPLICATIONS OF THE STUDY

Financial literacy is vital for establishing financial security. The significance of

financial literacy in recent years has greatly improved due to advancements in
financial markets. In India, a large section of the population remains outside formal
financial markets. Providing financial education will help include them in the
system.
Adults need to be financially responsible and make rational decisions for the
wellbeing of themselves and their families. Providing financial education to adults
improves the quality of financial decision-making and results in tremendous
benefits. Senior citizens can enjoy retirement benefits if they properly plan for their
financial future by enhancing their financial knowledge and skills.
Financial literacy thus plays a significant role in lowering economic inequities
and diminishing information asymmetry between financial intermediaries and
consumers. Increased financial literacy will result in less financial concern and
greater financial wellbeing.
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ASR CHIANG MAI UNIVERSITY JOURNAL OF SOCIAL SCIENCES

Category AND HUMANITIES

Country / Region Publisher: CHIANG MAI UNIV, FAC SCIENCE , 239 HUAY KAEW RD, T SUTHEP, CHIANG
MAI, THAILAND, 50200
Language ISSN / eISSN: 2408-1469
Web of Science Core Collection:Emerging Sources Citation Index
Frequency

Journal Citation Reports

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14.01.2023 16:39 ASR Chiang Mai University Journal of Social Sciences and Huma

   cmupress.th@gmail.com

ISSN: 2465-4329 (online)

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Home > Journal Issues

Journal Issues

Volume 10 - Number 1, January-June, 2023

A Suggested Model for Customer Relationship Management with Customer Experience-

Oriented Data Optimization in the Mobile Phone Industry

Kazım Karaboğa

https://doi.org/10.12982/CMUJASR.2023.001
(journal_de.php?id=225)

Knowledge and practices regarding Hepatitis B and HIV-AIDS among Beauty salon workers
and hairdressers in Karachi, Pakistan

Saman Methab1, Fizza Abbas, Tafazzul Hyder Zaidi, Mubashir Zafar, Nadira Hyder Zaidi,
Mohammed Waqas Nisar Ahmed

https://doi.org/10.12982/CMUJASR.2023.002
(journal_de.php?id=226)

The Role of Brand Experience in Formulating Brand Loyalty for Lingerie Buying Consumers
of India

Neetu SINGH

https://doi.org/10.12982/CMUJASR.2023.003
(journal_de.php?id=227)

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14.01.2023 16:39 ASR Chiang Mai University Journal of Social Sciences and Huma

Whether University Students Intent to Use Facebook for Social Capital Building?  A PLS-
SEM Approach

Zubaida Qazi, Wasim Qazi, Syed Ali Raza*, Komal Akram Khan, and Amna Umer

https://doi.org/10.12982/CMUJASR.2023.004
(journal_de.php?id=238)

Negotiation of Representation of Rohingya in Thailand through Faith-Based Media

Kunnawut Boonreak

https://doi.org/10.12982/CMUJASR.2023.005
(journal_de.php?id=239)

Festivals as the Practice of Politics by the Tamangs of Rural Nepal

Isha Gharti

https://doi.org/10.12982/CMUJASR.2023.006
(journal_de.php?id=240)

China Pakistan Economic Corridor of Belt and Road Initiative During Covid-19

Irfan Ali

https://doi.org/10.12982/CMUJASR.2023.007
(journal_de.php?id=242)

Strategies to Retain Employees in the IT Industry: The Case In India

Shivinder Nijjer, Kiran Sood, and Simon Grima

https://doi.org/10.12982/CMUJASR.2023.008
(journal_de.php?id=259)

The Financial Literacy of College Students: Evidence From India

Manju Dahiya, Ercan Özen, and Kisan Yadav

https://doi.org/10.12982/CMUJASR.2023.009

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14.01.2023 16:39 ASR Chiang Mai University Journal of Social Sciences and Huma

(journal_de.php?id=243)

Shan Female Sex Workers’ Vulnerabilities and Coping Strategies in Response to COVID-19
in Chiang Mai, Thailand

Chanakan Wichit, and Arratee Ayuttacorn*

https://doi.org/10.12982/CMUJASR.2023.010
(journal_de.php?id=241)

Cultural Continuity and Fragments of Diaspora: A Comparative Study of Identity

Construction by Second and Third Generations of Overseas Vietnamese in Northeast
Thailand

Nguyen Thi Tu Anh

https://doi.org/10.12982/CMUJASR.2023.011
(journal_de.php?id=250)

A fiscal perspective of policy responses to COVID-19: Evidences from Emerging Economy

India

Prasanth C.

https://doi.org/10.12982/CMUJASR.2023.012
(journal_de.php?id=244)

The Application of Self-directed Learning in the Local Level Workplace

Huimin Wu and Emrah Atar*

https://doi.org/10.12982/CMUJASR.2023.013
(journal_de.php?id=252)

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10.01.2023 10:39 ASR Chiang Mai University Journal of Social Sciences and Huma

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ISSN: 2465-4329 (online)

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Home > About the Journal

About the Journal

ASR: Chiang Mai University.Journal of Social Sciences

and Humanities
Print ISSN: 2408-1469
ISSN: 2465-4329 (online)
Frequency: 2 issues/Year
 
It is indexed/abstracted in:
-Emerging Sources Citation Insex (ESCI), Clarivate Analytics
 
About Journal
        ASR (Asian Social Research) was first launched in 2014 by Chiang Mai University. However,
it has a longer history, with its genesis in 2002 as part of Chiang Mai University Journal.This
journal was split into two in 2007, with the formation of ASR's predecessor, the Chiang Mai
University Journal of social Sciences and Humanities, which was later restyled as ASR in 2014,
and began publishing online in 2015.
        As of 2015, ASR has been indexed in the Emerging Sources Citation Index (ESCI), Clarivate
Analytics.

Editorial Policy

        ASR Chiang Mai University Journal of Social Sciences and Humanities is dedicated to
the publication of original research in the social sciences and humanities. Submissions are
welcomed from both Chiang Mai University as well as other Thai and foreign institutions. All
submissions must be original research not previously published or simultaneously submitted
for publication. Manuscripts are double-blinded peer reviewed before acceptance. ASR is
published biannually, in June and December.

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10.01.2023 10:39 ASR Chiang Mai University Journal of Social Sciences and Huma

Objective

        ASR is an international journal dedicated to disseminating state-of-the-art research

results in the social sciences and humanities for the betterment of our global community.

Scope

        ASR publishes new and multidisciplinary research papers in all fields of the social
sciences and humanities, with a particular interest in research related to:
the complexity and diversity of societies and cultures
development and change
with a regional focus on Southeast Asia and the Greater Mekong Sub-region, including
linkages to greater Asia and the world.
        ASR welcomes submissions from Anthropology, Architecture, Business Administration,
Economics, Education, Fine Arts, Geography, Language and Philosophy, Law, Mass
Communication, Political Sciences, Public Administration, Sociology and others. ASR also
publishes review papers, typically invited, of a comprehensive and well-defined scope.

Manuscripts

Manuscripts should be submitted to the Editor-in-Chief. All papers must be written in

English and contain an abstract (250 word limit) and keywords.
Manuscripts in the social sciences must follow accepted practice as detailed in the
Publication Manual of the American Psychological Association. Social science manuscripts
must include the following four sections: Introduction, Methodology, Results, and
Discussion. A Conclusion is optional.
Manuscripts in the humanities must follow accepted practice in their field and, where
appropriate, the Publication Manual of the American Psychological Association. Humanities
papers must be structured as follows: Introduction, Context, body of paper broken into
separate “point of discussion” sections as appropriate to the research, and Summary.
        Manuscripts should not exceed 30 double-spaced A4 pages (Time New Roman or
similar font, size 12”, with 1” margins) and include no more than eight tables, figures or
images. Manuscripts are printed in monochrome. If accepted for publication, the
manuscripts must be made available in MS Word format. All citations and references must
follow the guidelines of the Publication Manual of the American Psychological Association.

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10.01.2023 10:39 ASR Chiang Mai University Journal of Social Sciences and Huma

Submission and Inquiries

        All inquiries concerning the ASR: CMU Journal of Social Sciences and Humanities
should be made to:
Chiang Mai University journal Office
Office of Research Administration 
Office of the University
Chiang Mai University, Chiang Mai 50200, Thailand
Telephone: (66) 53 94 3603-4
E-mail: cmupress.th@gmail.com
Website: https://cmuj.cmu.ac.th

ASR: Chiang Mai University Journal of Social Sciences and Humanities

OWNER

Chiang Mai University, Chiang Mai 50200, Thailand

EDITORIAL OFFICE

Office of Research Administration 

Office of the University
Chiang Mai University
Chiand Mai 50200, Thailand
Phine: (66)53 94 3603-4
Fax: (66) 53 94 3600
E-mail: cmupress.th@gmail.com (mailto:cmupress.th@gmail.com)
Website: http://cmuj.cmu.ac.th (https://cmuj.cmu.ac.th)
 

EXECUTIVE Professor   Dr. Pongruk Sribanditmongkol, M.D.

EDITOR President

Associate Professor   Dr. Winita Punyodom

Vice President

Assistant Professor   Dr. Juthathip Chalermphol

Assistant to the President

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10.01.2023 10:39 ASR Chiang Mai University Journal of Social Sciences and Huma

EDITOR-IN- Professor  Dr. Yos Santasombat

CHIEF E-mail: santasombat@yahoo.com, cmupress.th@gmail.com

ASSOCIATE Associate Professor  Dr. Rawiwan Oranratmanee

Chiang Mai University, Thailand
EDITORS
Assistant Professor   Dr. Romyen Kosaikanont
Mae Fah Luang University, Thailand

Assistant Professor   Dr. Kian Cheng Lee

Chiang Mai University, Thailand

  Dr.David Chu
Chiang Mai University, Thailand

INTERNATIONAL Professor  Dr. Nestor T. Castro

EDITORIAL University of the Philippines, Philippines

BOARDS
Professor  Tanabe Shigeharu
Otani University, Japan

Professor  Ning Wang
Sun Yat-Sen University, China

Professor  Danny Wong Tze Ken

University of Malaya, Malaysia

Professor  Dr. LIU Hong

Nanyang Technological University, Singapore

   Dr. Robert Fisher

The University of Sydney, Australia

MANAGING Associate Professor  Dr. Noppol Leksawasdi

Office of Research Administration, Chiang Mai University,
EDITOR
Thailand
E-mail: cmupress.th@gmail.com

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10.01.2023 10:39 ASR Chiang Mai University Journal of Social Sciences and Huma

ASSISTANT Ms.  Priraya Rithaporn

Office of Research Administration, Chiang Mai University,
MANAGING
Thailand
EDITOR
E-mail: cmupress.th@gmail.com

Mrs.  Phatthanan Luesaksiriwattana
Office of Research Administration, Chiang Mai University,
Thailand
E-mail: cmupress.th@gmail.com

Ms.  Tiamchan Panphan
Office of Research Administration, Chiang Mai University,
Thailand
cmupress.th@gmail.com

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