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Financial literacy and stock market participation
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“the more financially literate are more likely to invest in the stock market, and hence, earn higher (risk-adjusted) returns on their investments (van Rooij, Lusardi, and Alessi 2011;Clark, Lusardi, and Mitchell 2017).”
From The Importance of Financial Literacy: Opening a New Field (2023) · cites this paper as van Rooij, Lusardi, and Alessi 2011
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“In fact, the percentage of correct answers doubled in the latter study when the wording for the third question of the Big Three was ''buying company stock usually provides a safer return than a stock mutual fund'' as compared to phrasing the question reversely”
From Financial literacy, financial advice, and financial behavior (2017) · cites this paper as van Rooij et al. (2011b)
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“Specifically, Lusardi and Mitchell (2011a, b) and van Rooij et al. (2011b) document that the answers of survey participants differ significantly based on the wording of the test questions.”
From Financial literacy, financial advice, and financial behavior (2017) · cites this paper as van Rooij et al. (2011b)
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“Likewise, van Rooij et al. (2011b) find that both self-assessed and objectively measured financial literacy predict individuals' propensity to hold stocks.”
From Financial literacy, financial advice, and financial behavior (2017) · cites this paper as van Rooij et al. (2011b)
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“van Rooij et al. (2011b) who document a positive relationship between stock market participation and financial literacy”
From Financial literacy, financial advice, and financial behavior (2017) · cites this paper as van Rooij et al. (2011b)
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“Another robust finding in the literature is a positive correlation between stock market participation and financial literacy (e.g., Kimball and Shumway 2006;Christelis et al. 2010;van Rooij et al. 2011b;Balloch et al. 2015;Clark et al. 2015).”
From Financial literacy, financial advice, and financial behavior (2017) · cites this paper as van Rooij et al. 2011b
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“Specifically, van Rooij et al. (2011b) document that financial sophistication is positively related to stock market participation of retail investors in the Netherlands.”
From Financial literacy, financial advice, and financial behavior (2017) · cites this paper as van Rooij et al. (2011b)
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“van Rooij et al. (2011b) exploit the Dutch Household Survey (DHS) and show that people who are less financially literate rely more on informal sources of financial advice, such as friends and family.”
From Financial literacy, financial advice, and financial behavior (2017) · cites this paper as van Rooij et al. (2011b)
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Financial Knowledge, Confidence, and Sustainable Financial Behavior
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Mavļutova, I., Fomins, A., Spilbergs, A., Atstāja, D., & Brizga, J. (2021) · Sustainability · doi:10.3390/su14010339 · Cited by 63
Does Financial Knowledge Matter in Using Fintech Services? Evidence from an Emerging Economy
Nguyen, T. A. N. (2022) · Sustainability · doi:10.3390/su14095083 · Cited by 63
“A number of studies have examined the role of financial literacy in the access to financial products related to daily financial management skills [20] and in participation in financial market [21,22].”
BackgroundFinancial Literacy and Financial Behavior at Older Ages
Mitchell, O. S., & Lusardi, A. (2023) · Routledge eBooks · doi:10.4324/9781003150398-37 · Cited by 70
Self-citationPersonality differences and investment decision-making
Jiang, Z., Peng, C., & Yan, H. (2024) · Journal of Financial Economics · doi:10.1016/j.jfineco.2023.103776 · Cited by 63
Financial Illiteracy and Stock Market Participation: Evidence from the RAND American Life Panel
Yoong, J. (2011) · Financial Literacy: Implications for Retirement Security and the Financial Marketplace · doi:10.1093/acprof:oso/9780199696819.003.0005 · Cited by 199
Financial literacy and voluntary savings for retirement: novel causal evidence
Cupák, A., Kolev, G. I., & Brokešová, Z. (2019) · European Journal of Finance · doi:10.1080/1351847x.2019.1641123 · Cited by 78
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The Links between Early-Life Cognition and Schooling and Late-Life Financial Knowledge
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Financial literacy and investment decisions in Malaysia and United Kingdom: A comparative analysis
Janor, H., Yakob, R., Hashim, N. A., et al. (2017) · Malaysian Journal of Society and Space · Cited by 62
Financial literacy and anxiety about life in old age: evidence from the USA
Kadoya, Y., Khan, M. S. R., Hamada, T., & Domínguez, A. (2018) · Review of Economics of the Household · doi:10.1007/s11150-017-9401-1 · Cited by 62
“Lusardi and Mitchell (2007, 2008) used three questions and Van Rooij et al. (2011) five questions, while Stango and Zinman (2009) used only one question to measure financial literacy.”
BackgroundMethodInfluentialMahdzan, N. S., Sabri, M. F., Rahim, H. A., Magli, A. S., & Chowdhury, N. T. (2022) · International Journal of Bank Marketing · doi:10.1108/ijbm-06-2022-0226 · Cited by 85
Beyond Income: Dynamic Consumer Financial Vulnerability
Salisbury, L. C., Nenkov, G. Y., Blanchard, S. J., Hill, R. P., Brown, A. L., & Martin, K. D. (2022) · Journal of Marketing · doi:10.1177/00222429221150910 · Cited by 60
“Financial literacy efforts often focus on generalized knowledge, rather than insights specific to a state of high vulnerability (e.g., Van Rooij, Lusardi, and Alessie 2011).”
BackgroundThe geography of financial inclusion across Europe during the global crisis
Corrado, G., & Corrado, L. (2015) · Journal of Economic Geography · doi:10.1093/jeg/lbu054 · Cited by 61
Tauni, M. Z., Rao, Z.-U.-R., Fang, H.-X., Mirza, S. S., Ali, Z., & Jebran, K. (2017) · China Finance Review International · doi:10.1108/cfri-06-2016-0059 · Cited by 74
Financial knowledge, attitude and behavior: evidence from the Austrian Survey of Financial Literacy
Fessler, P., Silgoner, M. A., & Weber, R. (2019) · Empirica · doi:10.1007/s10663-019-09465-2 · Cited by 61
Executive financial literacy and firm innovation in China
Tian, G., Zhou, S., & Hsu, S. (2020) · Pacific-Basin Finance Journal · doi:10.1016/j.pacfin.2020.101348 · Cited by 66
Financial Literacy and Low Stock Market Participation of Japanese Households
Yamori, N., & Ueyama, H. (2021) · Finance research letters · doi:10.1016/j.frl.2021.102074 · Cited by 60
Fachrudin, K. R., & Fachrudin, K. A. (2016) · Polish Journal of Management Studies · doi:10.17512/pjms.2016.14.2.05 · Cited by 60
The precision of subjective data and the explanatory power of economic models
Drerup, T. H., Enke, B., & von Gaudecker, H. (2017) · Journal of Econometrics · doi:10.1016/j.jeconom.2017.06.017 · Cited by 60
“This is in the range of values reported for the Netherlands from other datasets and earlier periods (Alessie et al., 2004; van Rooij et al., 2011).”
Financial literacy and entrepreneurial risk aversion
Riepe, J., Rudeloff, M., & Veer, T. H. (2020) · Journal of Small Business Management · doi:10.1080/00472778.2019.1709380 · Cited by 82
“In contrast to van Rooij et al. (2011), we added financial incentives6 to the questions to ensure that participants displayed their best and unbiased knowledge.”
BackgroundMethodInfluentialThe Geography of Financial Literacy
Bumcrot, C., Lin, J., & Lusardi, A. (2013) · Numeracy · doi:10.5038/1936-4660.6.2.2 · Cited by 100
Self-citationFinancial literacy of U.S. households: Knowledge vs. long-term financial planningPreprint
Alhenawi, Y., & Elkhal, K. (2013) · SSRN Electronic Journal · Cited by 60
Financial literacy among high school students: Evidence from India
Jayaraman, J. D., & Jambunathan, S. (2018) · Citizenship Social and Economics Education · doi:10.1177/2047173418809712 · Cited by 77
“Several other studies since then have also found positive correlations between financial literacy and day-to-day financial management skills, participation in financial markets, retirement planning, accumulation of wealth, and protecting one’s wealth (Almenberg and Dreber, 2011; Ameriks et al., 2003; Arrondel et al.,…”
BackgroundResultInfluentialNumber of brothers, risk sharing, and stock market participation
Niu, G., Wang, Q., Li, H., & Zhou, Y. (2020) · Journal of Banking & Finance · doi:10.1016/j.jbankfin.2020.105757 · Cited by 59
The potential use of robo-advisors among the young generation: Evidence from Italy
Isaia, E., & Oggero, N. (2022) · Finance research letters · doi:10.1016/j.frl.2022.103046 · Cited by 72
Exponential growth bias and financial literacy
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Gender Differences in Financial Literacy Among Hong Kong Workers
Yu, K., Wu, A. M., Chan, W., & Chou, K.-L. (2015) · Educational Gerontology · doi:10.1080/03601277.2014.966548 · Cited by 56
“…mortgage and other debt (Lusardi & Tufano, 2009); to be more likely to participate in the stock market (Christelis, Jappelli, & Padula, 2010; van Rooij et al., 2007; Yoong, 2010); to choose mutual funds with lower management fees (Hastings & Tejeda-Ashton., 2008); to plan for retirement…”
BackgroundHow to Measure Financial Literacy?
Rieger, M. O. (2020) · Journal of risk and financial management · doi:10.3390/jrfm13120324 · Cited by 58
“Of course, it would be unfeasible to include every single question that has been raised with regard to this topic in the past, but we identified eight typical and important articles in this field (Alexeev et al. 2014; Anderson et al. 2017; Bianchi 2018; Burke and Manz 2014; Ćumurović and Hyll 2019; Gathergood and We…”
BackgroundWillingness to take financial risks and insurance holdings: A European survey
Eling, M., Ghavibazoo, O., & Hanewald, K. (2021) · Journal of Behavioral and Experimental Economics · doi:10.1016/j.socec.2021.101781 · Cited by 58
Investor confidence and high financial literacy jointly shape investments in risky assets
Cupák, A., Fessler, P., Hsu, J. W., & Paradowski, P. R. (2022) · Economic Modelling · doi:10.1016/j.econmod.2022.106033 · Cited by 65
Financial Literacy: The Relationship to Saving Behavior in Low‐ to Moderate‐income Households
Henager, R., & Mauldin, T. (2015) · Family and Consumer Sciences Research Journal · doi:10.1111/fcsr.12120 · Cited by 67
Financial illiteracy and mortgage refinancing decisions
Bajo, E., & Barbi, M. (2018) · Journal of Banking & Finance · doi:10.1016/j.jbankfin.2018.08.001 · Cited by 37
Financial Capability and Financial Planning at the Verge of Retirement Age
Nam, Y., & Loibl, C. (2020) · Journal of Family and Economic Issues · doi:10.1007/s10834-020-09699-4 · Cited by 69
Arias-Oliva, M., Sánchez, J. D. A., & Borondo, J. P. (2021) · Mathematics · doi:10.3390/math9040324 · Cited by 61
“Whereas [68] conclude that persons with low financial literacy are consistently less likely to trade stocks, the survey by [69] shows that a great financial knowledge implies a higher propensity to participate in financial markets and investing in shares.”
BackgroundBurke, J., & Hung, A. (2016) · Journal of Pensions Economics and Finance · doi:10.1017/s147474721900026x · Cited by 71
“Investing knowledge is also highly related to use of a planner or broker for retirement-related decisions, similar to the result found in van Rooij, Lusardi, and Alessie (2011).”
Financial Literacy and Neighborhood Effects
LACHANCE, M. (2014) · Journal of Consumer Affairs · doi:10.1111/joca.12024 · Cited by 68
Liu, S., Leifu, G., Latif, K., Dar, A. A., Rehman, M. Z. U., & Baig, S. A. (2021) · Frontiers in Psychology · doi:10.3389/fpsyg.2021.742118 · Cited by 56
“All these items are adopted from Rooij et al. (2011) and Menyelim et al. (2021).”
BackgroundCompulsive gambling in the financial markets: Evidence from two investor surveys
Cox, R., Kamolsareeratana, A., & Kouwenberg, R. R. P. (2019) · Journal of Banking & Finance · doi:10.1016/j.jbankfin.2019.105709 · Cited by 63
The Assessment of Financial Literacy: New Evidence from Europe
Nicolini, G., & Haupt, M. (2019) · International Journal of Financial Studies · doi:10.3390/ijfs7030054 · Cited by 56
“…are dummy variables, so a logistic regression model was used in every case. logit ( E [ Yi ∣∣∣x1,i . . . , xm,i∣∣∣]) = log(pi) = ln( pi1− pi ) = β0 + β1x1,i + . . .+ βmxm,i 8 The relationship between financial literacy and the use of stocks was studied by Van Rooij et al. (2011) and Yoong (2010).”
MethodChristiansen, C., Joensen, J. S., & Rangvid, J. (2014) · Economic Inquiry · doi:10.1111/ecin.12113 · Cited by 56
“…a gender or marriage dummy, (cid:133)nd it to be signi(cid:133)cantly and positively related to stock market participation and/or the riskiness of the (cid:133)nancial portfolio; see e.g. Guiso and Jappelli (2005), Guiso, Sapienza and Zingales (2008), and Van Rooij, Lusardi and Alessie (2007).”
Phan, T. C., Rieger, M. O., & Wang, M. (2018) · Journal of Behavioral and Experimental Finance · doi:10.1016/j.jbef.2018.04.001 · Cited by 59
‘Growing out of the growing pain’: Financial literacy and life insurance demand in China
Wang, H., Zhang, D., Guariglia, A., & Fan, G. (2020) · Pacific-Basin Finance Journal · doi:10.1016/j.pacfin.2020.101459 · Cited by 56
Sharif, S. P., & Naghavi, N. (2020) · International Journal of Human-Computer Interaction · doi:10.1080/10447318.2020.1861761 · Cited by 56
“Authors of several recent studies have argued that TAM is flawed, as it views technology from a utilitarian perspective, which is not sufficient in some contexts (Van der Heijden, 2004).”
BackgroundConfidence in Financial Literacy, Stock Market Participation, and Retirement Planning
Yeh, T., & Ling, Y. (2021) · Journal of Family and Economic Issues · doi:10.1007/s10834-021-09769-1 · Cited by 64
Five decades of research on capital budgeting – A systematic review and future research agenda
Sureka, R., Kumar, S., Colombage, S. R. N., & Abedin, M. Z. (2021) · Research in International Business and Finance · doi:10.1016/j.ribaf.2021.101609 · Cited by 66
Does Financial Literacy Affect Household Financial Behavior? The Role of Limited Attention
Xu, S., Yang, Z., Ali, S. T., Li, Y., & Cui, J. (2022) · Frontiers in Psychology · doi:10.3389/fpsyg.2022.906153 · Cited by 56
“Scholars acknowledge that households with high financial literacy are more likely to become involved in stock investments (van Rooij et al., 2011; Hsiao and Tsai, 2018), have a regular bank account (Klapper et al., 2012), evaluate financial products and optimize household asset-allocation…”
BackgroundTwo heads are less bubbly than one: team decision-making in an experimental asset market
Cheung, S. L., & Palan, S. (2011) · Experimental Economics · doi:10.1007/s10683-011-9304-6 · Cited by 55
“In all treatments other than the individual double auctions, the questionnaires also included a tenitem test of financial literacy derived from van Rooij et al. (2011). 4In addition to their baseline condition, HNP consider additional treatments involving the buyback or float of shares.”
Explaining the Gender Gap in Financial Literacy: The Role of Non‐Cognitive Skills
Arellano, F. A., Cámara, N., & Tuesta, D. A. (2017) · Economic Notes · doi:10.1111/ecno.12113 · Cited by 65
“Objective indicators that include basic knowledge (Lusardi and Mitchell, 2011a) and more sophisticated questions (Van Rooij et al., 2011a; Lusardi and Mitchell, 2009 and Bucher-Koenen et al., 2011) reveal a gender gap in financial literacy in favour of men.”
Is Proprietary Trading Detrimental to Retail Investors?
Fecht, F., Hackethal, A., & Karabulut, Y. (2018) · The Journal of Finance · doi:10.1111/jofi.12609 · Cited by 59
Valuing Peace: The Effects of Financial Market Exposure on Votes and Political Attitudes
Jha, S., & Shayo, M. (2016) · Econometrica · doi:10.3982/ecta16385 · Cited by 61
Who Lost the Most? Financial Literacy, Cognitive Abilities, and the Financial CrisisPreprint
Bucher-Koenen, T., & Ziegelmeyer, M. H. (2011) · Social Science Research Network · doi:10.2139/ssrn.1738368 · Cited by 79
The Factors Influencing Given Investment Choices of Individuals
Aren, S., & Aydemir, S. D. (2015) · Procedia - Social and Behavioral Sciences · doi:10.1016/j.sbspro.2015.11.351 · Cited by 54
What drives retail portfolio exposure to ESG factors?
D’Hondt, C., Merli, M., & Roger, T. (2021) · Finance research letters · doi:10.1016/j.frl.2021.102470 · Cited by 57
A Study of Financial Literacy of Investors—A Bibliometric Analysis
Ansari, Y., Albarrak, M. S., Sherfudeen, N., & Aman, A. (2022) · International Journal of Financial Studies · doi:10.3390/ijfs10020036 · Cited by 68
“Van Rooij et al. (2011) found that many respondents have basic financial knowledge, including understanding interest compounding, inflation, and the time value of money.”
BackgroundInfluentialKhursheed, A. (2022) · Future Business Journal · doi:10.1186/s43093-022-00172-2 · Cited by 54
“Lack of financial knowledge ultimately pulls poor people away from success in financial markets or businesses [79, 86].”
BackgroundFactors shaping the financial capability of low‐income consumers from rural regions of Poland
Potocki, T., & Cierpiał‐Wolan, M. (2018) · International Journal of Consumer Studies · doi:10.1111/ijcs.12498 · Cited by 66
Financial literacy and student debt
Artavanis, N. T., & Karra, S. (2020) · European Journal of Finance · doi:10.1080/1351847x.2019.1711435 · Cited by 72
Financial Socialization, Financial Literacy, and Financial Behavior of Adults in New Zealand
Ameer, R., & Khan, R. (2020) · Journal of Financial Counseling and Planning · doi:10.1891/jfcp-18-00042 · Cited by 54
“…conditions (Remund literate are likely to demonstrate their understanding of financial concepts—such as interest rates, inflation rates taxes, mortgages, and savings for a retirement plan, bonds and stocks—through financial behaviors (Huston, 2010; van Pdf_Folio:314 314 Rooij et al., 2011).”
Digital literacy and financial market participation of middle-aged and elderly adults in China
Wang, Q., Liu, C., & Lan, S. (2022) · Economic and Political Studies · doi:10.1080/20954816.2022.2115191 · Cited by 53
“5 Based on data from the 2005 DNB Household Survey (DHS), van Rooij, Lusardi, and Alessie (2011) find that people with financial knowledge can better understand the benefits and risks of financial products, which can reduce the cost of searching and processing information.”
MethodPreparedness of Americans for the Affordable Care Act
Barcellos, S., Wuppermann, A., Carman, K. G., et al. (2014) · Proceedings of the National Academy of Sciences · doi:10.1073/pnas.1320488111 · Cited by 53
The effects of perceived and actual financial knowledge on regular personal savings: Case of Vietnam
Nguyen, T., Rózsa, Z., Bélas, J., & Belásová, Ľ. (2017) · JOURNAL OF INTERNATIONAL STUDIES · doi:10.14254/2071-8330.2017/10-2/19 · Cited by 43
“The independent variables which are coded to represent actual financial knowledge are constructed based on the study conducted by van Rooij et al. (2011) and Bateman et al. (2012), a self-reported perception financial knowledge is constructed based on the study conducted by Australia & Financial…”
BackgroundMethodInfluentialCapital gains taxation and funding for start-ups
Edwards, A. S., & Todtenhaupt, M. (2020) · Journal of Financial Economics · doi:10.1016/j.jfineco.2020.06.009 · Cited by 52
Does financial literacy affect the value of financial advice? A contingent valuation approach
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Knowledge and Opinions About Banking Supervision: Evidence from a Survey of Dutch Households
van der Cruijsen, C. A. B., de Haan, J., Jansen, D., et al. (2010) · Journal of Financial Stability · doi:10.1016/j.jfs.2011.11.002 · Cited by 52
Theoretical underpinnings of consumers’ financial capability research
Lučić, A., Barbić, D., & Uzelac, M. (2022) · International Journal of Consumer Studies · doi:10.1111/ijcs.12778 · Cited by 64
Comparison of financial literacy between Korean and U.S. high school students
Jang, K., Hahn, J., & Park, H. J. (2014) · International Review of Economics Education · doi:10.1016/j.iree.2014.07.003 · Cited by 52
Myopic loss aversion and stock investments: An empirical study of private investors
Lee, B., & Veld‐Merkoulova, Y. V. (2016) · Journal of Banking & Finance · doi:10.1016/j.jbankfin.2016.04.008 · Cited by 58
“This panel has been used extensively in academic research; for instance, Van Rooij, Lusardi, and Alessie (2011; 2012) use it to study the effects of financial literacy on individual stock market participation and wealth, Dong, Robinson, and Veld (2005) study the preferences of individual investors on dividend payments…”
BackgroundMethodInfluentialNeneh, B. N. (2016) · Investment Management and Financial Innovations · doi:10.21511/imfi.13(2-2).2016.10 · Cited by 52
Financial literacy: A barrier to home ownership for the young?
Gathergood, J., & Weber, J. (2017) · Journal of Urban Economics · doi:10.1016/j.jue.2017.02.001 · Cited by 31
“…calculation correctly, but only 40% show understanding of compound interest and less than one third answer our loan amortization ques- 1 For example, lack of understanding of the stock market and investment vehicles lowers the likelihood of households owning stocks ( van Rooij et al., 2011b ).”
Mabula, J. B., & Dong, H. (2018) · International Journal of Advanced Computer Science and Applications · doi:10.14569/ijacsa.2018.090905 · Cited by 69
Wardani, A., & Lutfi, L. (2019) · Journal of Business and Banking · doi:10.14414/jbb.v6i2.996 · Cited by 52
Stock market expectations and risk aversion of individual investors
Lee, B., Rosenthal, L., Veld, C., & Veld‐Merkoulova, Y. V. (2015) · International Review of Financial Analysis · doi:10.1016/j.irfa.2015.05.011 · Cited by 52
“Both Vissing-Jørgensen (2003) and Dominitz and Manski (2007) find that substantial heterogeneity in beliefs reflects demographical and financial characteristics.”
Marketplace lending of small‐ and medium‐sized enterprises
Cumming, D. J., & Hornuf, L. (2021) · Strategic Entrepreneurship Journal · doi:10.1002/sej.1411 · Cited by 51
Ansari, Y., Albarrak, M. S., Sherfudeen, N., & Aman, A. (2022) · Finance research letters · doi:10.1016/j.frl.2022.103582 · Cited by 61
Macroeconomic Experiences and Risk Taking of Euro Area Households
Ampudia, M., & Ehrmann, M. (2014) · European Economic Review · doi:10.1016/j.euroecorev.2016.09.012 · Cited by 51
“This is especially problematic given that households have been made more and more responsible for their own finances after retirement (van Rooij et al. 2011).”
Islamic religiosity and portfolio allocation: the Malaysian context
Mahdzan, N. S., Zainudin, R., Hashim, R. C., et al. (2017) · International Journal of Islamic and Middle Eastern Finance and Management · doi:10.1108/imefm-11-2016-0162 · Cited by 51
“However, because investors are usually risk-averse, participation in risky assets such as equity remains relatively low, despite their advantage of providing higher returns (van Rooij et al., 2011; Giannetti and Koskinen, 2010).”
Climate Information in Retail Investors’ Decision-Making: Evidence From a Choice Experiment
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Financial Literacy, Retirement Preparation and Pension Expectations in the Netherlands
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“For example, our model is consistent with results in Behrman et al. (2010), Lusardi and Mitchell (2011), and Van Rooij, Lusardi, and Alessie (2011b), who document a positive empirical link between financial literacy and wealth holdings even after controlling for endogeneity of financial literacy.”
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“Limited studies have examined several variables other than financial literacy such as risk aversion (Van Rooij et al., 2011, p.23), self-regulation, future orientation (Howlett, Kees and Kemp, 2008, pp.227-230), risk tolerance (Van Rooij, Kool and Prast, 2007, p.705), negative emotions, past…”
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“To measure financial literacy and assess its relationship with financial disputes, we follow Lusardi and Mitchell (2006) and van Rooij et al. (2011a) to design two modules to measure and evaluate financial literacy.”
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“A financially illiterate person may find it worrisome to patronize financial services such as holding savings account, accessing credit and participating in the stock market (Andoh et al., 2015; Ankrah Twumasi, Jiang, & Danquah, 2019; Frost et al., 2018; van Rooij et al., 2011; Xu et al., 2020).”
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Metadata
- Authors
- van Rooij, M., Lusardi, A., & Alessie, R.
- Affiliations
- Dartmouth College (US)
- University of Groningen (NL)
- Corresponding author
- Lusardi, Annamaria
- Venue
- Journal of Financial Economics
- Publisher
- Elsevier BV
- Published
- 2011-08
- Volume
- 101
- Issue
- 2
- Pages
- 449-472
- ISSN
- 0304-405X (ISSN-L)
- OpenAlex
- W3121918578
- Semantic Scholar
- 79807a99ddf557ff4b81d96e0add8f4a7674d1e8
- Cited by
- 3,554
- References
- 42
- Citations by year
- 2026: 288 · 2025: 324 · 2024: 366 · 2023: 316 · 2022: 300 · 2021: 291 · 2020: 275 · 2019: 207 · 2018: 178 · 2017: 180 · 2016: 142 · 2015: 166 · 2014: 136 · 2013: 120 · 2012: 91
- FWCI
- 88.88
- Type
- journal article
- Language
- en
- Open access
- green
- doi.org
- Locations
- Journal of Financial Economics (publishedVersion)
- SSRN Electronic Journal (publishedVersion)
- National Bureau of Economic Research (publishedVersion)
- RePEc: Research Papers in Economics (submittedVersion)
- Deep Blue (University of Michigan) (submittedVersion)
- Utrecht University Repository (Utrecht University) (submittedVersion, other-oa)
- Econstor (Econstor) (submittedVersion)
- University of Groningen research database (University of Groningen / Centre for Information Technology) (submittedVersion, other-oa)
- University of Groningen research database (University of Groningen / Centre for Information Technology) (submittedVersion)
- Topics
- Social Sciences › Economics, Econometrics and Finance › Finance › Financial Literacy, Pension, Retirement Analysis
- Social Sciences › Business, Management and Accounting › Accounting › Financial Literacy and Behavior
- Social Sciences › Economics, Econometrics and Finance › Finance › Financial Markets and Investment Strategies
- Keywords
- financial literacy, stock market participation, household investment, financial numeracy, interest rates, financial instruments, bonds, mutual funds, risk diversification, survey question wording, retirement savings, financial decision-making
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