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

Table 7

Parameter estimates of double thresholds for financial technology penetration.

Variable	Coefficient	Standard error	t value
Z ＜ 1–1210 obs
Financial decision-making	0.0000	0.0137	0.0000
Subjective financial literacy	0.0000	0.0124	0.0000
Objective financial literacy	0.0000	0.0084	0.0000
1 ≤ Z ＜ 3–506 obs
Financial decision-making	0.1400	0.0175	7.9824
Subjective financial literacy	0.0126	0.0128	0.9851
Objective financial literacy	0.0655	0.0156	4.1855
3 ≤ Z–514 obs
Financial decision-making	0.2487	0.01421	7.5607
Subjective financial literacy	0.19141	0.0118	6.2230
Objective financial literacy	0.2649	0.01491	7.7320