Behavioural, Socio-economic Factors, Financial Literacy and Investment Decisions: Are Men More Rational and Women More Emotional?

2021 ◽  
pp. 001946622098702
Author(s):  
Swati Prasad ◽  
Ravi Kiran ◽  
Rakesh Kumar Sharma
Keyword(s):  
Financial Literacy ◽  
Structural Equation ◽  
Investment Decisions ◽  
Jel Classification ◽  
Economic Factors ◽  
Fund Managers ◽  
Multivariate Technique ◽  
Retail Investors ◽  
Behavioural Factors ◽  
Socio Economic Factors

This study covers the gender-wise analysis of how behavioural factors and socio-economic factors along with the level of financial literacy influence investment decisions of Indian retail investors. Equally pertinent is to understand that will it have a different influence and bearing on males and females. Multivariate technique partial least squares-structural equation modelling (PLS-SEM) has been applied to develop the model and analyse the results. The study used a structured questionnaire for collecting data from retail investors. The findings of PLS-SEM show that in both genders, behavioural factors, socio-economic factors and financial literacy factors significantly affect investment decisions. However, the findings demonstrate that for women investors, the model is more effective. This study may be useful for prospective fund managers as, in many earlier studies, women are considered to be risk aversive. The results demonstrate that there is a need to target women, and the scenario today is not similar to the pre-existing ones. JEL Classification: G110, G4

scholarly journals Analisis Pengaruh Faktor-Faktor Literasi Keuangan Terhadap Keputusan Berinvestasi Pada Asuransi Jiwa di Kota Palembang

2021 ◽  
Vol 4 (3) ◽  
pp. 798-812
Author(s):  
Resa Novita ◽  
Isni Andriana ◽  
Kemas M Husni Thamrin
Keyword(s):  
Life Insurance ◽  
Financial Literacy ◽  
Structural Equation ◽  
Quantitative Research ◽  
Investment Decisions ◽  
Partial Least Square ◽  
Least Square ◽  
Primary Data ◽  
Equation Modeling ◽  
And Gender

The purpose of this research is to analyze the effect perceptions about financial literacy factors against the investment decisions on life insurance in Palembang. The population in this study is the owner of life insurance in Palembang, the sampling in this study is using the Purposive Sampling method with 50 respondents as samples. The type of research used is quantitative research with primary data sources obtained from distributing questionnaires to respondents. The data analysis technique in this research are descriptive and inferential statistical analysis using Structural Equation Modeling (SEM) with smartPLS (Partial Least Square) 3.0 software. The results showed that the perception of age and gender has no significant effect against the investment decisions on life insurance in Palembang, meanwhile the perception of education level and income have a significant effect against the investment decisions on life insurance in Palembang. Keywords: Age, Gender, Level of Education, Income, Investment Decisions

scholarly journals Financial Literacy in Japan: New Evidence Using Financial Knowledge, Behavior, and Attitude

2020 ◽  
Vol 12 (9) ◽  
pp. 3683 ◽  
Author(s):  
Yoshihiko Kadoya ◽  
Mostafa Saidur Rahim Khan
Keyword(s):  
Financial Literacy ◽  
Financial Services ◽  
Well Being ◽  
Financial Knowledge ◽  
Financial Behavior ◽  
Economic Factors ◽  
Financial Decisions ◽  
Aged People ◽  
And Behavior ◽  
Socio Economic Factors

Success in the current complex and sophisticated financial marketplaces depends on the ability of people to make sustainable financial decisions to improve their future well-being, for which financial literacy is a pathway. This study examines the relationship between the demographic and socio-economic factors and financial literacy in Japan by segregating financial literacy into financial knowledge, attitude, and behavior, and providing a deeper understanding of the relationships. The methodology included using data from the Financial Literacy Survey 2016 by the Central Council for Financial Services Information of Japan. We used a linear regression model to explain how demographic and socio-economic factors relate to financial knowledge, attitude, and behavior. Results show that education, the balance of financial assets, and the use of financial information are positively related, while the experience of financial trouble is negatively related to financial knowledge, attitude, and behavior. We show that males are more financially knowledgeable than females, but females are more positive than males with regard to financial behavior and financial attitude. Age is positively related to financial knowledge but negatively related to financial attitude, thus suggesting that middle-aged people in Japan are more financially knowledgeable, but younger and older people are more positive with regard to financial behavior and attitude. The findings have implications for policymakers.

Exploring Socio-Economic Design Implications of Public Housing Transformation; The Nigerian Experience

2014 ◽  
Vol 584-586 ◽  
pp. 211-216 ◽  
Author(s):  
Abubakar D. Isah ◽  
Tareef Hayat Khan ◽  
Abdullah Sani Bn Ahmad
Keyword(s):  
Public Housing ◽  
Structural Equation ◽  
Equation Model ◽  
Model Fit ◽  
Design Stage ◽  
Survey Method ◽  
Economic Factors ◽  
Economic Predictors ◽  
Economic Indices ◽  
Socio Economic Factors

Occupancy and funding are crucial attributes of culture in predicting public housing transformation in Nigeria. The study investigates the implication of occupancy and funding as salient socio-economic factors of housing transformation. Questionnaire survey method was used to assess users’ experience which was analysed using statistical analysis with structural equation model (SEM). The result indicated a good model fit of occupancy and funding as socio-economic predictors that motivates residents’ housing adjustment decisions. Thus, the study recommends that socio-economic indices of occupancy and ease of funding future public housing adjustments can be considered by developers at the design stage.

scholarly journals EFFECT OF FINANCIAL LITERACY AND RISK ATTITUDE ON INVESTOR BEHAVIOR

2021 ◽  
Vol 6 (2) ◽  
Author(s):  
Livia Della Ramandhanty ◽  
Alfiyatul Qomariyah S.Ak., M.BA., Ph.D., ◽  
Fatih Andesita Wuri Bemby
Keyword(s):  
Capital Market ◽  
Financial Literacy ◽  
Structural Equation ◽  
Sampling Method ◽  
Investment Decisions ◽  
Risk Attitude ◽  
Research Data ◽  
Investor Behavior ◽  
Investment Risk ◽  
Equation Modelling

This research aims to examine the related effects of financial literacy and risk attitudes towards investor behavior in the Indonesian capital market with the motive of saving as a mediating variable. This study uses a quantitative approach and partial least squares- structural equation modelling (PLS-SEM) to test hypotheses. The research data was obtained from 110 questionnaires distributed to capital market investors in Indonesia using the purposive sampling method. The results of this study indicate that financial literacy, risk attitude and saving motives have positive and significant effects on investor behavior in the Indonesian capital market. The influence of financial literacy and risk attitude also has a positive and significant effect on saving motives. However, the motive for saving money cannot mediate the effect of financial literacy and risk attitude on investor behavior. Theoretically, the implications of the results of this study are the level of financial literacy, risk attitude, and saving motives can directly influence investor behavior. The higher the financial literacy, the better the attitude in facing investment risk and the greater the motive for saving, the better the investor's behavior in making investment decisions. Whereas in practical terms, this implication is used as input for investors to further increase financial literacy, pay attention to the level of risk of selected investments, and enlarge the motives for saving so that the purpose of investing can be achieved well.

scholarly journals Pengaruh Faktor Sosial Ekonomi Dan Materialism pada Personal Financial Behavior melalui Financial Literacy Mahasiswa Akuntansi

2020 ◽  
Vol 30 (6) ◽  
pp. 1575
Author(s):  
Luh Gede Krisna Dewi ◽  
Made Yenni Latrini
Keyword(s):  
Path Analysis ◽  
Financial Literacy ◽  
Economic Status ◽  
Financial Behavior ◽  
Accounting Students ◽  
Economic Factors ◽  
Learning Patterns ◽  
Parent Status ◽  
Personal Financial Behavior ◽  
Socio Economic Factors

The aims of this study is to analyze and to find empirical evidence of the influence of socio-economic factors and materialism on the personal financial behavior of accounting students through their level of financial literacy. The research sample is accounting students at Bukit Jimbaran Campus determined using purposive sampling method. From the sampling process, 67 respondents completed the questionnaire. This study uses path analysis techniques (path analysis). The results of this study found that the financial literacy variable was able to mediate the relationship between the parents' socio-economic status on the pattern of personal financial behavior of accounting students. Social status and materialism attitudes also become factors that influence the level of financial literacy of students and their personal financial behavior. The implications of this research are expected to be useful for educational institutions to develop educational curricula and learning patterns related to socio-economic factors (parent status or income) and psychological factors (materialism) in influencing personal financial behavior of accounting students through the financial literacy level. Keywords: Personal Financial Behavior; Socio-Economic Factors; Materialism; Financial Literacy.

scholarly journals ANALISIS FAKTOR YANG MEMENGARUHI KEPUTUSAN INVESTASI (STUDI PADA MAHASISWI DI SURABAYA)

2020 ◽  
Vol 4 (2) ◽  
pp. 396
Author(s):  
Ifanda Ogix Fridana ◽  
Nadia Asandimitra
Keyword(s):  
Structural Equation Model ◽  
Financial Literacy ◽  
Structural Equation ◽  
Quantitative Research ◽  
Investment Decisions ◽  
Female Gender ◽  
Equation Model ◽  
Risk Tolerance ◽  
Investment Activity ◽  
Positive Effect

Investasi adalah kegiatan investasi aset untuk mendapatkan keuntungan dalam jangka waktu tertentu. Penelitian ini bertujuan untuk menganalisis faktor-faktor yang mempengaruhi keputusan investasi. Penelitian ini menggunakan jenis penelitian kuantitatif dengan jumlah sampel 230 responden dengan menggunakan metode analisis Structural Equation Model (SEM). Objek penelitian ini adalah mahasiswi di Surabaya yang memiliki galeri investasi di kampusnya. Studi ini berfokus pada jenis kelamin perempuan karena dalam empat tahun terakhir investor perempuan mengalami peningkatan yang signifikan dibandingkan dengan investor laki-laki, padahal tingkat pengetahuan keuangan perempuan lebih rendah dibandingkan laki-laki. Hasil penelitian ini menunjukkan bahwa literasi keuangan, overconfidence, herding, toleransi risiko dan persepsi risiko berpengaruh positif terhadap keputusan investasi. Hasil penelitian ini dapat membantu Galeri Investasi sebagai lembaga untuk sering melakukan sosialisasi seperti pemahaman finansial, manfaat berinvestasi, cara mengantisipasi risiko untuk berinvestasi sehingga pemahaman tentang investasi dapat menyeluruh dan dapat menarik calon investor baru nantinya.  Investment is an asset investment activity to get a profit within a certain period. This study aims to analyze the factors that influence investment decisions. This study uses quantitative research with a sample of 230 respondents using the analysis method of Structural Equation Model (SEM). The object of this research is female students in Surabaya who have an investment gallery on their campus. This study focuses on the female gender because in the last four years female investors have experienced a significant increase compared to male investors, even though the level of financial knowledge of women is lower than that of men. The results of this study indicate that financial literacy, overconfidence, herding, risk tolerance and risk perception have a positive effect on investment decisions. The results of this research can help the Investment Gallery as an institution to conduct socialization frequently such as financial understanding, the benefits of investing, how to anticipate risks for investment so that an understanding of investment can be comprehensive and can attract new potential investors later.

scholarly journals Measuring Impact of Education and Socio-economic Factors on Health for Pakistan.

2009 ◽  
Vol 48 (4II) ◽  
pp. 653-674 ◽  
Author(s):  
Zahid Asghar ◽  
Nazia Attique ◽  
Amena Urooj
Keyword(s):  
Health Status ◽  
Economic Status ◽  
National Health Survey ◽  
Jel Classification ◽  
Economic Factors ◽  
Social Economic Status ◽  
Gender Culture ◽  
Number Of Factors ◽  
Keywords Education ◽  
Socio Economic Factors

Education affects health not because of the knowledge and practices one can learn at school, but rather it shapes individuals life and can alter the characteristics of an individual to be healthier. Measurement of health is an abstract concept and health itself is affected by a number of factors. This study aims at exploring whether there is any relation in education, gender, and health for Pakistan. Exploratory data analysis and ordinal logistic regression are used here to assess relationship between health, education and other socio-economic factors. It is evident that individuals with higher education level tend to have better health status than a person with lower levels of education. There is also evidence of gender being an important determinant of health in Pakistan. The variation in health status of individuals is studied with reference to gender, culture, occupations, and social economic status. This study provides a useful piece of information for the policy-makers in health and education sectors. The data used in this study was collected by Pakistan and Medical Research Council under National Health Survey of Pakistan [NHSP (1990-1994)]. JEL classification: L00, L20, C21 Keywords: Education, Self-reported Health, Ordered Logit, Health Conditions, Pseudo R2

scholarly journals Vulnerability to Climate Change and Socio-Economic Factors: A Comparison of Selected Districts of Punjab

2021 ◽  
Vol 5 (1) ◽  
pp. 79-110
Author(s):  
Ali Raza ◽  
Muhammad Hassan Shahid ◽  
Aimen Tayyab ◽  
Usman Mustafa
Keyword(s):  
Climate Change ◽  
Urban Areas ◽  
Jel Classification ◽  
Living Standard ◽  
Economic Factors ◽  
Rural And Urban Areas ◽  
Rural And Urban ◽  
Vulnerability To Climate Change ◽  
Vulnerability Score ◽  
Socio Economic Factors

This study analyzes ten districts of the province Punjab of Pakistan to investigate and compare the vulnerability of selected districts. Total Three sub-groups (socio-economic variables, adaptive capacity, bio-physical variables) are generated by using the data from Pakistan Social & Living Standard Measurement Survey (PSLM) and Pakistan Meteorological Department of the years 2014-15, to calculate total vulnerability. Using primary variables at the district level, this study determines each district’s rural and urban areas' total vulnerability score. The results show that few districts, e.g., Rawalpindi has 0.74 total vulnerability score out of 1, are highly vulnerable compared to other districts despite having a better socio-economic situation. On the other hand, few districts, like Multan, have a low vulnerability to climate change and socio-economic factors. Keywords: CO2, socio-economic, bio-physical, environment, Vulnerability. JEL Classification Codes: Q3, O13, P28.

Fund Managers and Their Investors

2017 ◽  
Author(s):  
Diane-Laure Arjaliès ◽  
Philip Grant ◽  
Iain Hardie ◽  
Donald MacKenzie ◽  
Ekaterina Svetlova
Keyword(s):  
Institutional Investors ◽  
Investment Decisions ◽  
Pension Funds ◽  
Principal Agent ◽  
Fixed Income ◽  
Fund Manager ◽  
Fund Managers ◽  
Time Horizons ◽  
Principal Agent Problem ◽  
Retail Investors

Chapter 3 examines the mechanisms through which clients impact fund managers’ practices and vice versa. The discussion encompasses fixed income investment as well as investment in shares. In both fixed income and shares, clients can include both institutional investors (such as pension funds) and retail investors (i.e. private individuals, though often guided by financial advisers). Their reasons for investment vary, leading to different time-horizons on their decisions, different ways of measuring performance, and different forms of interaction with the rest of the investment chain. They often rely on various types of advisers: investment consultants, independent financial advisers, and fund-rating companies. Variations of those kinds among the clients influence fund managers’ investment decisions, whether intentionally or not. Thus, the chapter suggests that the client–fund manager relationship is not a simple principal–agent problem, but a multi-faceted, contextually dependent, malleable matter.

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