UGC Approved Journal no 63975(19)

ISSN: 2349-5162 | ESTD Year : 2014
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Published in:

Volume 5 Issue 9
September-2018
eISSN: 2349-5162

UGC and ISSN approved 7.95 impact factor UGC Approved Journal no 63975

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Published Paper ID:
JETIR1809367


Registration ID:
188394

Page Number

386-395

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Title

Does Financial Literacy Influence Investor Behavior in the Secondary Equity Market?

Abstract

The financial literacy level of the investor plays an important role in determining and shaping his/her behavior. This study examines the financial literacy level of the secondary equity investors residing in Chennai using a sample size of 436 respondents. The financial literacy level was categorised as low, average and high. The financial literacy level of the investors was analysed against the demographic and financial variables using ANOVA. Using cross tabulation, the majority of the highly financially literate investors in each category were identified. Eight behavioral biases, namely, Mental Accounting, Anchoring, Gambler’s fallacy, Availability, Loss Aversion, Regret Aversion, Representativeness and Overconfidence were measured and using the ANOVA test, the category of investors more prone and less prone to exhibit the behavioral biases were identified. Finally, the highly financially literate investors were analysed with respect to the demographics. Financial advisors could use the results of this study to identify the literacy level of their clients (the investors) and advice them according to the biases they are likely to exhibit.

Key Words

Financial Literacy, Behavioral Finance, Behavioral Biases, Mental Accounting, Anchoring, Gambler’s fallacy, Availability, Loss Aversion, Regret Aversion, Representativeness, Overconfidence, Secondary Equity Market, Equity Investors’ Behavior

Cite This Article

"Does Financial Literacy Influence Investor Behavior in the Secondary Equity Market?", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.5, Issue 9, page no.386-395, September-2018, Available :http://www.jetir.org/papers/JETIR1809367.pdf

ISSN


2349-5162 | Impact Factor 7.95 Calculate by Google Scholar

An International Scholarly Open Access Journal, Peer-Reviewed, Refereed Journal Impact Factor 7.95 Calculate by Google Scholar and Semantic Scholar | AI-Powered Research Tool, Multidisciplinary, Monthly, Multilanguage Journal Indexing in All Major Database & Metadata, Citation Generator

Cite This Article

"Does Financial Literacy Influence Investor Behavior in the Secondary Equity Market?", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.5, Issue 9, page no. pp386-395, September-2018, Available at : http://www.jetir.org/papers/JETIR1809367.pdf

Publication Details

Published Paper ID: JETIR1809367
Registration ID: 188394
Published In: Volume 5 | Issue 9 | Year September-2018
DOI (Digital Object Identifier): http://doi.one/10.1729/Journal.18348
Page No: 386-395
Country: Chennai, Tamil Nadu, India .
Area: Management
ISSN Number: 2349-5162
Publisher: IJ Publication


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