Logo


BUSINESS AND ECONOMICS RESEARCH JOURNAL

Language
LogoEnglish
LogoTürkçe
 
Article Information
Journal: Business and Economics Research Journal
Title of Article: Impact of Financial Literacy on the Behavioral Biases of Individual Stock Investors: Evidence from Borsa Istanbul
Author(s): Sinem Ateş, Ali Coşkun, M. Abdullah Şahin, M. Levent Demircan
Volume: 7
Number: 3
Year: 2016
Page: 1-19
ISSN: 1309-2448
DOI Number: 10.20409/berj.2016321805
Abstract
Financial literacy and behavioral biases are critical factors affecting the financial decisions and behaviors of investors. We survey 596 individual stock investors to measure their financial literacy, to examine their behavioral biases and to investigate the relationship between financial literacy and behavioral biases. Results suggest that around half of the investors have a low financial literacy level, their main source of financial information is advice from parents or friends, and they have a high level of behavioral biases. While some of these behavioral biases are independent of the level of financial literacy, there is a significant relationship between a number of other biases and the level of financial literacy.
Keywords: Behavioral Finance, Financial Literacy, Behavioral Bias, Financial Decision, Stock Investors
JEL Classification: G02, G11

https://www.berjournal.com/wp-content/plugins/downloads-manager/img/icons/pdf.gif Full Text

User Log in

E-Mail

Password

  

Remember Me

Register
Lost Password ?