scholarly journals The Role of Overconfidence and Past Investment Experience in Herding Behaviour with a Moderating Effect of Financial Literacy: Evidence from Pakistan Stock Exchange

2019 ◽  
Vol 9 (4) ◽  
pp. 480-490 ◽  
Author(s):  
Saeed Ahmad Sabir ◽  
Hisham Bin Mohammad ◽  
Hanita Binti Kadir Shahar
Keyword(s):  
Financial Literacy ◽  
Stock Exchange ◽  
Moderating Effect ◽  
Investment Experience

scholarly journals EFFECT OF EMOTIONAL INTELLIGENCE AND FINANCIAL LITERACY ON INVESTMENT DECISION MAKING WITH A MEDIATING ROLE OF RISK PERCEPTION

2014 ◽  
Vol 02 (02) ◽  
pp. 12-20
Author(s):  
Sahar Parvez ◽  
Keyword(s):  
Emotional Intelligence ◽  
Risk Perception ◽  
Financial Literacy ◽  
Stock Exchange ◽  
Investment Decision ◽  
Investment Decisions ◽  
Mediating Role ◽  
Investment Decision Making ◽  
The Impact

This research paper examines the impact of emotional intelligence and financial literacy on investment decision with a mediating role of risk perception. The data is collected by using questionnaire, from a sample of 152 investors, from stock exchange and banks. The results support that to make adequate investment decisions, investors should be financially literate and have control on their emotions. However, risk perception of investors does not mediate this relationship.

scholarly journals Impact of Behavioral Biases on Investment Performance in Pakistan: The Moderating Role of Financial Literacy

2020 ◽  
Vol 6 (4) ◽  
pp. 1199-1205
Author(s):  
Amir Rafique ◽  
Muhammad Umer Quddoos ◽  
Usama Kalim ◽  
Muhammad Ramzan Sheikh
Keyword(s):  
Financial Literacy ◽  
Stock Exchange ◽  
Investment Decisions ◽  
Equation Modeling ◽  
Investment Performance ◽  
Policy Makers ◽  
Behavioral Biases ◽  
Structured Equation Modeling ◽  
Moderating Role

This study aims at understanding the relationships of certain behavioral biases with the investment performance, and identifies the moderating role of financial literacy upon these hypothesized relationships. Data is collected through questionnaire from the investors trading at Pakistan Stock Exchange (PSX). Structured Equation Modeling (SEM) is used to analyze the data with the results that only anchoring and overconfidence biases have significant effects on investment performance. The results also show that presence of financial literacy does not play any role in improving the performance of investors. Majorly, findings of current study contribute by testing the moderating role of financial literacy between the behavioral biases and the outcome of investment decisions and thus expected to be useful for investors and policy makers.  

scholarly journals Finance Impact of corporate governance on the valuation of IPOs in Pakistan stock exchange listed Firms. A moderating role of the family Ownership.

2021 ◽  
Vol 2 (1) ◽  
pp. 101-112
Author(s):  
Muhammad Waris ◽  
Dr. Badariah Haji Din
Keyword(s):  
Corporate Governance ◽  
Stock Exchange ◽  
Gender Diversity ◽  
Moderating Effect ◽  
Family Ownership ◽  
Board Independence ◽  
Ipo Performance ◽  
The Family ◽  
The Impact

The objective of our study is to investigate the impact of the corporate governance on the IPO performance with moderating impact of the family ownership. To investigate that relationship, we used the data of IPOs registered from 2008 to 2017 in Pakistan Stock exchange. We used the OLS methods to analysis of the data. Our findings shows that Board independence (BIND) has positive significant relationship with IPO return, it means that independent directors have the more technical knowledge and experience in maintaining the IPO return and making the strong policy for the organizations. CEO duality has the significant negative relationship with IPO return with (P=0.0833), it means that when CEO has the combine rule then decisions are not distributed, and monopoly existed in decisions that leads to the negative impact on the IPO performance. Board diligence, Board size, ownership concentration and gender diversity have no impact are being seen in our analysis. In the moderating effect of the family ownership in reference to board diligence (BD) the results changed to significant positive relationship, it means that with the family-owned firms when board meetings increased then increased in the IPO return due to some factors. With the moderation of the family ownership the results of the Board independence also improved that shows the role of the family-owned firm in between them. Women in the board that means the gender diversity has no impact but with the moderating effect of the family ownership women in the board has significant positive impact. This study is helpful for the financial managers, investors, and the finance students and also for the government, in maintaining the code of the corporate governance.

Investment Decisions Of Investors Based On Generation Groups

2020 ◽  
Vol 11 (3) ◽  
pp. 189-196
Author(s):  
Mochammad Rizaldy Insan Baihaqqy ◽  
Sugiyanto
Keyword(s):  
Financial Literacy ◽  
Stock Exchange ◽  
Investment Decision ◽  
Investment Decisions ◽  
Gen Y ◽  
Investment Decision Making ◽  
Investment Experience ◽  
Quantitative Descriptive ◽  
Gen X ◽  
Exchange Data

This study aims to describe the effect of financial literacy in each generation group (Gen Z, Gen Y, Gen X, and Baby Boomers) in investment decision making. The method used in this research is quantitative descriptive. Respondents in this study were 137 investors who were members of the Indonesia Stock Exchange. Data collection was conducted in January 2020-February 2020. The results showed that the differences in financial literacy of each generation group had a significant influence on investment decisions. financial literacy and Investment experience is needed in the capital market in making investment decisions.

Tax evasion, firm’s value and governance: evidence from Tunisian Stock Exchange

2020 ◽  
Vol 27 (3) ◽  
pp. 781-799
Author(s):  
Olfa Nafti ◽  
Ines Kateb ◽  
Oumaima Masghouni
Keyword(s):  
Tax Evasion ◽  
Design Methodology ◽  
Stock Exchange ◽  
Moderating Effect ◽  
Family Management ◽  
Data Set ◽  
Content Type ◽  
The Relationship ◽  
Moderating Role

Purpose The purpose of this study is to analyze the relationship between tax evasion and firm’s value while determining the moderating role of family management and the ownership’s concentration in this relationship. Design/methodology/approach The empirical study employs a Panel Data set of 34 firms listed on the Tunisian Stock Exchange (TSE) for the period 2007 to 2014. Regression analysis is used to estimate the relationships proposed in the hypotheses. Findings The results show that tax evasion has no direct effect on a firm’s value. This study highlighted the presence of a moderating effect of family management on the relationship between tax evasion and firm’s value. However, no moderating effect of the concentration of property on the mentioned relationship was detected. Originality/value This study represents a first empirical essay focusing on the relationship between tax evasion and firm’s value. Furthermore, it analyzes the moderating effect of some aspects of governance, such as family management and ownership’s structure, on this relationship in a Tunisian context.

scholarly journals Finanční vzdělávání dospělých a jeho úroveň v 90. letech

2020 ◽  
Author(s):  
Vladislav Pavlát
Keyword(s):  
Czech Republic ◽  
Capital Market ◽  
Financial Literacy ◽  
Stock Exchange ◽  
Financial Education ◽  
Private Companies ◽  
The Czech Republic ◽  
Market Formation

Let us briefly explain the content of the 10 chapters: Chapter 1 presents the general characteristics of the research period (1990 –1997). Chapter 2 explains the research object, sources and methods. Chapter 3 gives a survey of different definitions of the two basic notions -education and financial literacy. Chapter 4 describes the influence of the import of know -how on the field of financialeducation from the western countries to the Czech Republic and analyses the main barriers of the education transfer caused by the transition from the so-called socialism to capitalism. These four chapters (as a whole) characterise and analyse the generalmilieuof financial education transfer to the Czech Republic. They form approx.one third of the content of the book. The second third of the content of the book follows the institutional line of research. The role of the Ministry of Finance (Chapter 5),the Central Bank (Chapter 6) and the Prague Stock Exchange (Chapter 7) and the mutual interaction of the capital market formation and the process of financial education in the Czech Republic is analysed. Chapter 8 examines the role of media on the Czech capital market. The last third of the book (Chapter 9 and 10) deals with the role of two private companies in the brokers ́ education.

scholarly journals Income Smoothing, Default Risk and Stock Price Crashes: The Moderating Effect of Manager Age

2020 ◽  
Vol 7 (1) ◽  
pp. 107-124
Author(s):  
Sansaloni Butar-Butar
Keyword(s):  
Default Risk ◽  
Stock Price ◽  
Stock Exchange ◽  
Age Effect ◽  
Moderating Effect ◽  
Income Smoothing ◽  
Analysis Method ◽  
Positive Direction ◽  
Moderating Role

The purpose of this study is to investigate the moderating role of manager age on the association between income smoothing and stock price crashes and the association between default risk and stock price crashes. The data was collected from the samples of 182 companies firms listed on the Indonesia Stock Exchange from 2013 to 2017 (910 firm-year observation). Using the multivariate analysis as the data analysis method, this study revealed that manager age and default risk were negatively associated with stock price crashes. On the other hand, the income smoothing was not significantly associated with stock price crashes. With regard to moderating effect of manager age, the results showed that manager age effect the association between default risk and stock price crashes with a positive direction. Meanwhile, no significant effect of manager age on the association between income smoothing and stock price crashes is found in this study.

Role of Commercial Banks in Financial Literacy

PRODUCTIVITY ◽  
2018 ◽  
Vol 59 (2) ◽  
pp. 186-197
Author(s):  
M. SELVAKUMAR ◽  
◽  
P. ANBUCHEZHIENKAMARAJ ◽  
V. Sathyalakshmi ◽  
R. Mohammed Abubakkar Siddique ◽  
...  
Keyword(s):  
Financial Literacy ◽  
Commercial Banks

Formation of financial literacy in training of informatics teachers on the basis of the 1С:Enterprise system

2020 ◽  
Vol 1 (1) ◽  
pp. 11-18
Author(s):  
M. A. Rodionov ◽  
I. V. Akimova
Keyword(s):  
Financial Literacy ◽  
Basic Knowledge ◽  
State University ◽  
Science And Literature ◽  
Successful Development ◽  
Mathematics History ◽  
School Subjects ◽  
Personal Finances ◽  
The Right

In the submitted study the problem of the formation of financial literacy of students at informatics lessons and relevant training of future informatics teachers is considered. Financial literacy is understood as a set of basic knowledge in the field of finance, banking, insurance, as well as budgeting for personal finances that allow a person to choose the right financial product or service, soberly assess and take risks that may arise during the use of these products, correctly accumulate savings and identify doubtful (fraudulent) investment schemes. The authors conclude that successful development of meaningful lines of the course of financial literacy requires integration of a few school subjects, such as mathematics, history, informatics, social science and literature. The role of modern informatics teacher in the formation of financial literacy of students is great. Therefore, in the training of a future informatics teacher, it should be paid the attention to issues related to the study of elements of financial literacy in informatics lessons. In order to solve the problem, the authors propose to use the special course “Basics of work in 1С:Enterprise”, which is implemented at Penza State University. The article contains a program of the course and the methodological recommendations for its implementation.

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