Financial Literacy and Exercise Behavior: Evidence from Japan
Lack of exercise, which increases the risk of many serious physical and mental illness, has been a common health issue in Japan. Recent studies confirm that financial literacy discourages irrational behavior like gambling and smoking. We therefore investigate how financial literacy, as a rational de...
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| Veröffentlicht in: | Sustainability 2021-04, Vol.13 (8), p.4189 |
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| creator | Ono, Shunsuke Yuktadatta, Pattaphol Taniguchi, Takafumi Iitsuka, Tomoe Noguchi, Masafumi Tanaka, Sawa Ito, Haruka Nakamura, Kousei Yasuhara, Nanako Miyawaki, Chihiro Mikura, Katsumi Khan, Mostafa Saidur Rahim Kadoya, Yoshihiko |
| description | Lack of exercise, which increases the risk of many serious physical and mental illness, has been a common health issue in Japan. Recent studies confirm that financial literacy discourages irrational behavior like gambling and smoking. We therefore investigate how financial literacy, as a rational decision-making instrument, relates to peoples’ exercise behavior in Japan. We hypothesize that financial literacy encourages people to exercise regularly. Using Osaka University’s Preference Parameters Study (PPS) for 2010, we categorized respondents into two groups: those who exercise regularly or at least once a week and those who do not. Our probit estimation results show that financial literacy is positively related with exercise behavior, meaning that financially literate people are more likely to exercise regularly. As the COVID-19 health pandemic seems to exacerbate peoples’ physical inactivity, the results of our study show an alternative approach to encourage exercise. We therefore recommend that governments implement a financial literacy improvement policy to alleviate the lack of exercise. |
| doi_str_mv | 10.3390/su13084189 |
| format | Article |
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Recent studies confirm that financial literacy discourages irrational behavior like gambling and smoking. We therefore investigate how financial literacy, as a rational decision-making instrument, relates to peoples’ exercise behavior in Japan. We hypothesize that financial literacy encourages people to exercise regularly. Using Osaka University’s Preference Parameters Study (PPS) for 2010, we categorized respondents into two groups: those who exercise regularly or at least once a week and those who do not. Our probit estimation results show that financial literacy is positively related with exercise behavior, meaning that financially literate people are more likely to exercise regularly. As the COVID-19 health pandemic seems to exacerbate peoples’ physical inactivity, the results of our study show an alternative approach to encourage exercise. We therefore recommend that governments implement a financial literacy improvement policy to alleviate the lack of exercise.</description><identifier>ISSN: 2071-1050</identifier><identifier>EISSN: 2071-1050</identifier><identifier>DOI: 10.3390/su13084189</identifier><language>eng</language><publisher>Basel: MDPI AG</publisher><subject>Cognitive ability ; Compound interest ; COVID-19 ; Decision making ; Exercise ; Financial literacy ; Gambling ; Health behavior ; Households ; Interest rates ; Life expectancy ; Mental disorders ; Physical fitness ; Preferences ; Rationality ; Savings accounts ; Socioeconomic factors ; Sustainability ; Variables ; Womens health</subject><ispartof>Sustainability, 2021-04, Vol.13 (8), p.4189</ispartof><rights>2021 by the authors. Licensee MDPI, Basel, Switzerland. This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license (https://creativecommons.org/licenses/by/4.0/). 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We therefore recommend that governments implement a financial literacy improvement policy to alleviate the lack of exercise.</description><subject>Cognitive ability</subject><subject>Compound interest</subject><subject>COVID-19</subject><subject>Decision making</subject><subject>Exercise</subject><subject>Financial literacy</subject><subject>Gambling</subject><subject>Health behavior</subject><subject>Households</subject><subject>Interest rates</subject><subject>Life expectancy</subject><subject>Mental disorders</subject><subject>Physical fitness</subject><subject>Preferences</subject><subject>Rationality</subject><subject>Savings accounts</subject><subject>Socioeconomic factors</subject><subject>Sustainability</subject><subject>Variables</subject><subject>Womens health</subject><issn>2071-1050</issn><issn>2071-1050</issn><fulltext>true</fulltext><rsrctype>article</rsrctype><creationdate>2021</creationdate><recordtype>article</recordtype><sourceid>BENPR</sourceid><recordid>eNpNkE1LAzEYhIMoWGov_oKAN2E1b95uPgQPWlo_KHjpPSTZLKa0u2uyW-y_t6WCzmXm8DADQ8g1sDtEze7zAMjUFJQ-IyPOJBTASnb-L1-SSc5rdhAiaBAj8riIjW18tBu6jH1I1u-pbSo6_w7Jxxzoc_i0u9imBzrfxSo0PtA6tVv6bjvbXJGL2m5ymPz6mKwW89XstVh-vLzNnpaFRwF9gbwS3nldehWURDdV1oHnLggUUy6ZdJop6bhytde1xcqKEsSBlhWIUOKY3Jxqu9R-DSH3Zt0OqTksGl4KDholP1K3J8qnNucUatOluLVpb4CZ40Hm7yD8AeDzVm4</recordid><startdate>20210409</startdate><enddate>20210409</enddate><creator>Ono, Shunsuke</creator><creator>Yuktadatta, Pattaphol</creator><creator>Taniguchi, Takafumi</creator><creator>Iitsuka, Tomoe</creator><creator>Noguchi, Masafumi</creator><creator>Tanaka, Sawa</creator><creator>Ito, Haruka</creator><creator>Nakamura, Kousei</creator><creator>Yasuhara, Nanako</creator><creator>Miyawaki, Chihiro</creator><creator>Mikura, Katsumi</creator><creator>Khan, Mostafa Saidur Rahim</creator><creator>Kadoya, Yoshihiko</creator><general>MDPI AG</general><scope>AAYXX</scope><scope>CITATION</scope><scope>4U-</scope><scope>ABUWG</scope><scope>AFKRA</scope><scope>AZQEC</scope><scope>BENPR</scope><scope>CCPQU</scope><scope>COVID</scope><scope>DWQXO</scope><scope>PIMPY</scope><scope>PQEST</scope><scope>PQQKQ</scope><scope>PQUKI</scope><scope>PRINS</scope><orcidid>https://orcid.org/0000-0003-3530-164X</orcidid><orcidid>https://orcid.org/0000-0003-2632-3580</orcidid><orcidid>https://orcid.org/0000-0002-9424-0923</orcidid></search><sort><creationdate>20210409</creationdate><title>Financial Literacy and Exercise Behavior: Evidence from Japan</title><author>Ono, Shunsuke ; 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Recent studies confirm that financial literacy discourages irrational behavior like gambling and smoking. We therefore investigate how financial literacy, as a rational decision-making instrument, relates to peoples’ exercise behavior in Japan. We hypothesize that financial literacy encourages people to exercise regularly. Using Osaka University’s Preference Parameters Study (PPS) for 2010, we categorized respondents into two groups: those who exercise regularly or at least once a week and those who do not. Our probit estimation results show that financial literacy is positively related with exercise behavior, meaning that financially literate people are more likely to exercise regularly. As the COVID-19 health pandemic seems to exacerbate peoples’ physical inactivity, the results of our study show an alternative approach to encourage exercise. 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| subjects | Cognitive ability Compound interest COVID-19 Decision making Exercise Financial literacy Gambling Health behavior Households Interest rates Life expectancy Mental disorders Physical fitness Preferences Rationality Savings accounts Socioeconomic factors Sustainability Variables Womens health |
| title | Financial Literacy and Exercise Behavior: Evidence from Japan |
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