Fintech Penetration, Financial Literacy, and Financial Decision-Making: Empirical Analysis Based on Tar

Table 3

Pearson correlation test of subjective and objective financial literacy and financial decision-making.

	Financial market participation	Insurance market participation	Financial decision-making	Subjective financial literacy	Objective financial literacy
Person correlation
Subjective financial literacy	0.4794	−0.0268	0.4566	1.0000	0.4997
Objective financial literacy	0.4455	−0.0470	0.4181	0.4997	1.0000
Partial correlation test
Subjective financial literacy	0.3333	−0.0042	0.3183	1.0000	0.3848
Objective financial literacy	0.2646	−0.0381	0.2369	0.3848	1.0000

Note: The significance level is 1%. The significance level is 5%.