Does financial literacy influence preventive health check-up behavior in Japan? a cross-sectional study

Lal, Sumeet; Nguyen, Trinh Xuan Thi; Sulemana, Abdul-Salam; Khan, Mostafa Saidur Rahim; Kadoya, Yoshihiko

doi:10.1186/s12889-022-14079-8

Table 6 Probit model regression results with financial literacy or financial education as the main explanatory variable

From: Does financial literacy influence preventive health check-up behavior in Japan? a cross-sectional study

Variables	Dependent variable: Probability of getting health-check-up
	Financial literacy as main explanatory variable				Financial education as main explanatory variable
	Model 1.1	Model 1.2	Model 1.3	Model 1.4	Model 2.1	Model 2.2	Model 2.3	Model 2.4
Financial literacy	0.0040	-0.0103	-0.0113	-0.0225
	(0.0902)	(0.0905)	(0.0905)	(0.0908)
Financial education					0.0239	0.0203	0.0195	0.0231
					(0.0756)	(0.0756)	(0.0756)	(0.0759)
Male	-0.3273***	-0.2354***	-0.2361***	-0.2305***	-0.3263***	-0.2360***	-0.2368***	-0.2322***
	(0.0614)	(0.0687)	(0.0687)	(0.0689)	(0.0608)	(0.0681)	(0.0681)	(0.0683)
Age	0.0274***	0.0273***	0.0274***	0.0281***	0.0273***	0.0271***	0.0273***	0.0279***
	(0.0046)	(0.0047)	(0.0047)	(0.0047)	(0.0047)	(0.0047)	(0.0047)	(0.0047)
University degree	-0.0063	-0.0294	-0.0306	-0.0378	-0.0067	-0.0308	-0.0321	-0.0403
	(0.0716)	(0.0724)	(0.0724)	(0.0725)	(0.0709)	(0.0717)	(0.0717)	(0.0719)
Marriage	0.3622***	0.3521***	0.3528***	0.3234**	0.3606***	0.3505***	0.3513***	0.3215**
	(0.1248)	(0.1260)	(0.1259)	(0.1268)	(0.1249)	(0.1261)	(0.1260)	(0.1270)
Divorce	0.1845	0.2287	0.2312	0.2020	0.1848	0.2285	0.2309	0.2013
	(0.1775)	(0.1795)	(0.1796)	(0.1801)	(0.1773)	(0.1793)	(0.1794)	(0.1799)
Household size	-0.0099	-0.0104	-0.0105	-0.0080	-0.0101	-0.0104	-0.0105	-0.0079
	(0.0247)	(0.0249)	(0.0249)	(0.0249)	(0.0246)	(0.0248)	(0.0248)	(0.0249)
Children	-0.1424	-0.1570	-0.1571	-0.1586	-0.1429	-0.1570	-0.1570	-0.1582
	(0.1058)	(0.1070)	(0.1070)	(0.1074)	(0.1058)	(0.1069)	(0.1070)	(0.1073)
Unemployed	0.3366*	0.3243*	0.3286*	0.3579*	0.3368*	0.3247*	0.3290*	0.3585**
	(0.1815)	(0.1806)	(0.1809)	(0.1827)	(0.1814)	(0.1805)	(0.1808)	(0.1826)
Log of household income	-0.0366	-0.0341	-0.0349	-0.0576	-0.0364	-0.0347	-0.0355	-0.0588
	(0.0545)	(0.0549)	(0.0549)	(0.0562)	(0.0543)	(0.0548)	(0.0548)	(0.0561)
Log of household assets	0.1229***	0.1106***	0.1099***	0.1025***	0.1228***	0.1099***	0.1091***	0.1011***
	(0.0315)	(0.0318)	(0.0319)	(0.0321)	(0.0312)	(0.0315)	(0.0316)	(0.0319)
Current smoker		-0.2946***	-0.2937***	-0.2782***		-0.2944***	-0.2934***	-0.2777***
		(0.0752)	(0.0752)	(0.0754)		(0.0751)	(0.0751)	(0.0754)
Current drinker		-0.0101	-0.0111	-0.0130		-0.0099	-0.0109	-0.0129
		(0.0614)	(0.0614)	(0.0616)		(0.0614)	(0.0614)	(0.0616)
Frequent gambler		-0.0876	-0.0867	-0.0865		-0.0860	-0.0851	-0.0845
		(0.0983)	(0.0983)	(0.0982)		(0.0984)	(0.0983)	(0.0983)
Myopic view of the future			-0.0409	-0.0380			-0.0403	-0.0371
			(0.0780)	(0.0780)			(0.0780)	(0.0779)
Current level of happiness				0.3324*				0.3324*
				(0.1742)				(0.1741)
Anxiety about health				-0.0520				-0.0514
				(0.0597)				(0.0597)
Poor health status				0.1653				0.1630
				(0.2220)				(0.2217)
Constant	-3.3155***	-3.0804***	-3.0552***	-2.7926***	-3.3110***	-3.0612***	-3.0355***	-2.7597***
	(0.8557)	(0.8619)	(0.8636)	(0.8745)	(0.8521)	(0.8593)	(0.8612)	(0.8726)
Observations	2,208	2,208	2,208	2,208	2,208	2,208	2,208	2,208
Log likelihood	-1316	-1308	-1308	-1305	-1316	-1308	-1308	-1305
Chi2 statistics	122.4	135.8	136.5	144.8	122.3	135.6	136.3	144.4
p-value	0	0	0	0	0	0	0	0

Robust standard errors in parentheses *** p < 0.01, ** p < 0.05, * p < 0.1

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