本文探討高個人金融知識是否較有可能使用金融科技服務，其金融科技服務分別為P2P網路借貸與自動化投資理財顧問服務。實證結果顯示，金融知識與這兩種金融科技服務呈現正相關，但這主要是由主觀金融知識所驅動，而非客觀金融知識。另外，金融知識過度自信的受訪者亦傾向使用P2P網路借貸與自動化投資理財顧問服務，且受教育程度較高、經濟狀況較好以及年齡在30歲以上的受訪者中更爲顯著；而金融知識過度自信與使用自動化投資理財顧問服務之間的正向關係則在年齡較大、較不富裕與非全職學生中更爲顯著。最後，在考慮到可及性或衡量誤差的問題中，金融知識過度自信對這兩種金融科技服務的影響依舊保持不變。

This dissertation determines whether high financial literacy individuals tend to adopt Fintech services: online P2P lending and robo-advisor services, respectively. Our empirical results reveal that financial literacy is positively correlated with these two Fintech services, but this is mostly driven by subjective instead of objective literacy. We also find that overconfident respondents in financial literacy tend to use online P2P lending and robo-advisor services; these findings are more prominent for respondents with high education level, high economic condition, and over 30 years old. Simultaneously, the positive relationship between financial literacy and the adoption of robo-advisor is more pronounced in elder people, less wealthy individuals, and non-full-time students. Furthermore, the positive impacts of financial literacy overconfidence on both adoptions remained constant after accounting for measurement errors.

論文審定書 i
摘要 ii
Abstract iii
Chapter 1 Introduction 1
Chapter 2 Individuals’ Financial Literacy and the Adoption of Online P2P Lending 4
2.1 Introduction 4
2.2 Literature Review and Hypotheses Development 8
2.3 Data and Methodology 11
2.3.1 Data Source 11
2.3.2 Variables 11
2.3.3 Methodology 14
2.3.4 Sample Characteristics 15
2.4 Empirical Results 16
2.4.1 Financial Literacy and Adoption of Online P2P Lending 17
2.4.2 Financial Literacy Overconfidence and Adoption of Online P2P Lending 18
2.4.3 The Role of Sociodemographic 19
2.4.4 Robustness Tests 22
2.5 Conclusion 27
Chapter 3 Individuals’ Financial Literacy and the Adoption of Robo-Advisor 42
3.1 Introduction 42
3.2 Literature Review and Hypotheses Development 44
3.3 Data and Methodology 47
3.3.1 Data Source 47
3.3.2 Variables 48
3.3.3 Methodology 50
3.3.4 Sample Characteristics 51
3.4 Empirical Results 52
3.4.1 Financial Literacy and Adoption of Robo-Advisor 53
3.4.2 Financial Literacy Overconfidence and Adoption of Robo-Advisor 54
3.4.3 The Role of Sociodemographic 56
3.4.4 Robustness Tests 57
3.5 Conclusion 61
Chapter 4 Conclusion 75
References 78
Appendices 86

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