The effect of financial literacy on Machiavellian personality of Tehran exchange market investors
Author(s):
Article Type:
Research/Original Article (دارای رتبه معتبر)
Abstract:
Financial literacy and behavioral biases (Machiavellian personality) are critical factors affecting the financial decisions and behaviors of investors. We survey 285 individual stock investors to measure their financial literacy, to examine their behavioral biases and to investigate the relationship between financial literacy and behavioral biases. This study was conducted in 20015 and 2016 years in Tehran stock exchange market, brokers and investment companies in Iran. Standard international questionnaire (after localization) was distributed among the investors and the answers were gathered, then variables were measured using multivariate regression in SPSS. In spite of research literature in the local context which offers a model for measuring financial literacy, this study specifically tends to find out the relationship between financial literacy and the behavioral biases among the Investors Results suggest that there is negative significant relationship between the financial literacy and the Machiavellian personality in Tehran Stock exchange market Investors.
Keywords:
Language:
Persian
Published:
Journal of Investment Knowledge, Volume:8 Issue: 30, 2019
Pages:
229 to 250
https://magiran.com/p2001276