Identifying and Ranking Critical Success Factors for Implementing Financial Education in Taiwan Elementary Schools

Abstract

The dual card storm which occurred ten more years ago is still fresh in Taiwan’s memory. To improve the financial literacy of children, financial education (FE) is mandated to include into primary school curriculum from 2011 in Taiwan. Research, addressing various issues of FE has appeared recently, but far fewer focused on identifying critical success factors (CSFs) for implementing FE. Therefore, this study is one of the first attempts to gain an understanding of the CSFs in this issue. This research is firstly based on financial literacy education discussed in relevant literature and conducts a two round Delphi survey to identify the CSFs. And then, the study ranks the CSFs using analytic hierarchy process (AHP) method. Our research reveals that, for successfully implement FE, 14 CSFs are identified. Finally, the research gives some discussion on the findings and, furthermore, presents two main theoretical implications as well as contributes two main managerial implications.