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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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Citations
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Financial Literacy, Household Investment and Household Debt: Evidence from Switzerland
Brown, M., & Graf, R. (2012) · Alexandria (UniSG) (University of St.Gallen) · Cited by 48
Financial literacy and retirement planning: evidence from China
Niu, G., & Zhou, Y. (2017) · Applied Economics Letters · doi:10.1080/13504851.2017.1352072 · Cited by 48
“…characteristics are those of household head, who is most knowledgeable about the financial situation of the household. understanding of the workings of financial markets (Van Rooij, Lusardi, and Alessie 2011).3 Examining the control variables in the two tables yields some interesting observations.”
BackgroundFinancial Literacy and Gender Difference in Loan Defaults
Chen, J., Jiang, J., & Liu, Y. (2017) · Journal of Empirical Finance · doi:10.1016/j.jempfin.2018.06.004 · Cited by 49
Rothwell, D. W., & Wu, S. (2019) · Journal of Consumer Affairs · doi:10.1111/joca.12259 · Cited by 48
Comparing the Traits of Stock Market Investors and Gamblers
Jadlow, J. W., & Mowen, J. C. (2010) · Journal of Behavioral Finance · doi:10.1080/15427560.2010.481978 · Cited by 52
Low Risk and High Return – Affective Attitudes and Stock Market Expectations
Kempf, A., Merkle, C., & Niessen-Ruenzi, A. (2014) · European Financial Management · doi:10.1111/eufm.12001 · Cited by 52
Financial Literacy: What Works? How Could it Be More Effective?Preprint
Gale, W. G., & Levine, R. (2011) · SSRN Electronic Journal · doi:10.2139/ssrn.2316933 · Cited by 48
Does Financial Literacy Increase Students' Perceived Value of Schooling?
Pesando, L. M. (2017) · Education Economics · doi:10.1080/09645292.2018.1468872 · Cited by 48
“…2011; Almenberg and Säve-Söderbergh 2011; Fornero and Monticone 2011; Lusardi and Mitchell 2007, 2011; Sekita 2011; van Rooij, Lusardi, and Alessie 2012), and stock market participation (Arrondel, Debbich, and Savignac 2012, 2015; van Rooij, Lusardi, and Alessie 2011; Xia, Wang, and Li 2014).”
BackgroundSalisa, N. R. (2021) · Jurnal Akuntansi Indonesia · doi:10.30659/jai.9.2.182-194 · Cited by 86
“Hasil penelitian ini sejalan dengan Darmawan, et al. (2019); Lusardi & Mitchell (2011); Pangestika & Rusliati (2019); van Rooij et al. (2011) yang menyebutkan bahwa literasi keuangan berpengaruh positif terhadap minat investasi.”
BackgroundAlgorithm aversion in delegated investing
Germann, M., & Merkle, C. (2022) · Journal of Business Economics · doi:10.1007/s11573-022-01121-9 · Cited by 57
“Participants complete a set of eight advanced financial literacy questions (van Rooij et al. 2011) and a four-question numeracy test (Berlin Numeracy Test, see Cokely et al. 2012).”
Confidence and economic attitudes
Pirinsky, C. A. (2013) · Journal of Economic Behavior & Organization · doi:10.1016/j.jebo.2013.04.013 · Cited by 53
Stockholding in France: the role of financial literacy and information
Arrondel, L., Debbich, M., & Savignac, F. (2015) · Applied Economics Letters · doi:10.1080/13504851.2015.1026578 · Cited by 47
“…ability (Christelis et al., 2010; Grinblatt et al., 2011), trust (Guiso et al., 2008), ‘financial awareness’ (Guiso and Jappelli, 2005), time spent in acquiring financial information (Guiso and Jappelli, 2007), social interactions (Hong et al., 2004) or financial literacy (van Rooij et al., 2011).”
BackgroundMahdzan, N. S., Mohd‐Any, A. A., & Chan, M.-K. (2017) · Gadjah Mada International Journal of Business · doi:10.22146/gamaijb.24441 · Cited by 47
“This subjective information on risk aversion, which was originally suggested by Donkers and Van Soest (1999), is a direct measure that does not require heavy cognitive processing (van Rooij et al. 2011).”
BackgroundMethodInfluentialThe effect of financial education training on the financial literacy of Spanish students in PISA
Ferrera, J. M. C., & Chaparro, F. P. (2018) · Applied Economics · doi:10.1080/00036846.2018.1528336 · Cited by 49
“Additionally, there is evidence demonstrating that the acquisition of financial knowledge is associated with a wide range of behaviors such as participation in the stock market, portfolio diversification or the tendency to avoid over-indebtedness (Guiso and Jappelli 2002; Christelis, Jappelli, and Padula 2010; Van Roo…”
BackgroundIs financial development narrowing the urban–rural income gap? A cross‐regional study of China
Su, C., Song, Y., Ma, Y.-T., & Tao, R. (2019) · Papers of the Regional Science Association · doi:10.1111/pirs.12428 · Cited by 48
How Cognitive Ability and Financial Literacy Shape the Demand for Financial Advice at Older Ages
Kim, H. H., Maurer, R., & Mitchell, O. S. (2019) · The Journal of the Economics of Ageing · doi:10.1016/j.jeoa.2021.100329 · Cited by 69
“…in the stock market and reap better investment returns (e.g., Kézdi and Willis, 2003; Christelis, Jappelli, and Padula, 2010; Grinblatt, Keloharju, and Linnainmaa, 2011; van Rooij, Lusardi, and Alessie, 2011; Bogan and Fertig, 2013; Clark, Lusardi, and Mitchell, 2015; and Cole and Shastry, 2014).”
Tang, N., & Peter, P. (2015) · Financial Services Review · doi:10.61190/fsr.v24i2.3237 · Cited by 46
“Better financial behavior requires financial knowledge, specifically knowledge in essential personal finance concepts and products (Chen and Volpe, 1998; Jacobs-Lawson and Hershey, 2005; Van Rooij, Lusardi, and Alessie, 2011).”
BackgroundEl Papel de la Educación Financiera en la Formación de Profesionales de la Ingeniería
Villada, F., Lezama, J. M. L., & Muñóz-Galeano, N. (2017) · Formación universitaria · doi:10.4067/s0718-50062017000200003 · Cited by 46
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Delegation Decisions in Finance
Holzmeister, F., Holmén, M., Kirchler, M., Stefan, M., & Wengström, E. (2022) · Management Science · doi:10.1287/mnsc.2022.4555 · Cited by 46
Iman, N., Nugroho, S. S., Junarsin, E., & Pelawi, R. Y. (2023) · International Journal of Bank Marketing · doi:10.1108/ijbm-09-2022-0427 · Cited by 46
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“We know more about the important role of financial knowledge on most financial behaviors (e.g., Bayer, Bernheim, & Scholz, 1996; Hilgert, Hogarth, & Beverly, 2003; Dhar & Zhu, 2006; Servon & Kaestner, 2008; Guiso & Jappelli, 2008; Van Rooij, Lusardi, & Alessi, 2007; Dvorak & Hanley, 2010; Lusardi & Mitchell, 2007a; Al…”
BackgroundInfluentialFinancial Literacy Key to Retirement Planning in Malaysia
Folk, J. Y., See, B. L., & Baronovich, D.-L. (2012) · Journal of Management and Sustainability · doi:10.5539/jms.v2n1p75 · Cited by 46
“Evidence has also shown that financially unsophisticated households tend to avoid the stock market (Kimball and Shumway, 2007; Van Rooij et al., 2007), and that they are less likely to choose mutual funds with lower fees (Hastings and Tejeda-Ashton, 2008).”
BackgroundResultFinancial competence, overconfidence, and trusting investments: Results from an experiment
McCannon, B. C., Asaad, C., & Wilson, M. (2016) · Journal of Economics and Finance · doi:10.1007/s12197-015-9328-4 · Cited by 48
“…of financial literacy are associated with daily financial management skills (Hilgert, Hogarth, and Beverly, 2003), retirement planning (Lusardi and Mitchell, 2007), investments in stocks (van Rooij, Lusardi, and Alessie, 2011), and wealth accumulation (Behrman, Mitchell, Soo and Bravo, 2012).”
BackgroundAssessing consumer literacy on financial complex products
Rodrigues, L. F., Oliveira, A., Rodrigues, H., & Costa, C. J. D. C. (2019) · Journal of Behavioral and Experimental Finance · doi:10.1016/j.jbef.2019.02.005 · Cited by 51
Propensity toward indebtedness: evidence from Malaysia
Azma, N., Rahman, M., Adeyemi, A. A., & Rahman, M. K. (2019) · Review of Behavioral Finance · doi:10.1108/rbf-05-2017-0046 · Cited by 49
Bongomin, G. O. C., Munene, J. C. K., & Yourougou, P. (2020) · Cogent Economics & Finance · doi:10.1080/23322039.2020.1761274 · Cited by 54
Volatility Inadaptability: Investors Care About Risk, but Cannot Cope with Volatility
Ehm, C., Kaufmann, C., & Weber, M. (2013) · European Finance Review · doi:10.1093/rof/rft032 · Cited by 47
Second-order beliefs and the individual investor
Egan, D. P., Merkle, C., & Weber, M. (2014) · Journal of Economic Behavior & Organization · doi:10.1016/j.jebo.2014.04.001 · Cited by 46
Financial Sophistication and Consumer Spending
Jørring, A. (2024) · The Journal of Finance · doi:10.1111/jofi.13393 · Cited by 44
Rules of Thumb in Life‐Cycle Saving Decisions
Winter, J., Schlafmann, K., & Rodepeter, R. (2012) · The Economic Journal · doi:10.1111/j.1468-0297.2012.02502.x · Cited by 46
The Importance of Financial Literacy: Opening a New Field
Lusardi, A., & Mitchell, O. S. (2023) · National Bureau of Economic Research · doi:10.3386/w31145 · Cited by 61
Self-citationLontchi, C. B., Yang, B., & Su, Y. (2022) · Sustainability · doi:10.3390/su142215093 · Cited by 73
Robo advisors and access to wealth management
Reher, M., & Sokolinski, S. (2024) · Journal of Financial Economics · doi:10.1016/j.jfineco.2024.103829 · Cited by 32
GIMS—Software for asset market experiments
Palan, S. (2015) · Journal of Behavioral and Experimental Finance · doi:10.1016/j.jbef.2015.02.001 · Cited by 45
Abdeldayem, M. M. (2019) · Journal of Management and Accounting Studies · doi:10.24200/jmas.vol4iss02pp68-78 · Cited by 45
Female workers' readiness for retirement planning: an evidence from Indonesia
Larisa, L. E., Anastasia, N., & Wijaya, S. (2020) · Review of Behavioral Finance · doi:10.1108/rbf-04-2020-0079 · Cited by 62
Financial Literacy, Households' Investment Behavior, and Risk PropensityPreprint
Bajo, E., Barbi, M., & Sandri, S. (2015) · RePEc: Research Papers in Economics · doi:10.12831/80534 · Cited by 25
Visual Tools and Narratives: New Ways to Improve Financial Literacy
Lusardi, A., Samek, A. S., Kapteyn, A., Glinert, L., Hung, A., & Heinberg, A. (2014) · National Bureau of Economic Research · doi:10.3386/w20229 · Cited by 46
Self-citationArrondel, L., Bartiloro, L., Fessler, P., et al. (2016) · SSRN Electronic Journal · doi:10.2139/ssrn.2796992 · Cited by 45
Ranyard, R., McNair, S., Nicolini, G., & Duxbury, D. (2020) · Journal of Consumer Affairs · doi:10.1111/joca.12322 · Cited by 44
Nyhus, E. K., Frank, D., Król, M. K., & Otterbring, T. (2023) · Psychology and Marketing · doi:10.1002/mar.21921 · Cited by 53
Lu, Z., Li, H., & Wu, J. (2024) · Borsa Istanbul Review · doi:10.1016/j.bir.2024.01.006 · Cited by 44
Showkat, M., Nagina, R., Baba, M. A., & Yahya, A. T. (2024) · Cogent Economics & Finance · doi:10.1080/23322039.2024.2440444 · Cited by 78
“Van Rooij et al. (2011) further demonstrate that financial literacy directly influences women ’ s economic participation, leading to greater empowerment through informed and strategic financial choices ’ .”
Aging, overconfidence, and portfolio choice
Pak, T., & Chatterjee, S. (2016) · Journal of Behavioral and Experimental Finance · doi:10.1016/j.jbef.2016.10.003 · Cited by 45
The effect of personality traits on households’ financial literacy
Pinjisakikool, T. (2017) · Citizenship Social and Economics Education · doi:10.1177/2047173417690005 · Cited by 44
Adult financial literacy and households’ financial assets: the role of bank information policies
Fort, M., Manaresi, F., & Trucchi, S. (2016) · Economic Policy · doi:10.1093/epolic/eiw012 · Cited by 44
“…management by improving the understanding of the risk associated with different assets, fostering stock market participation (Christelis et al., 2010; van Rooij et al., 2011, 2012) and increasing returns yielded by a specific financial product (as shown by Deuflhard et al., 2015, for saving accounts).”
BackgroundResultInfluentialMigrants’ Choice of Remittance Channel: Do General Payment Habits Play a Role?
Kosse, A., & Vermeulen, R. (2014) · World Development · doi:10.1016/j.worlddev.2014.05.002 · Cited by 44
Cognitive abilities and risk-taking: Errors, not preferences
Hidalgo, L. A., Brañas‐Garza, P., Espín, A. M., García‐Muñoz, T., & Hernández-Román, A. (2021) · European Economic Review · doi:10.1016/j.euroecorev.2021.103694 · Cited by 44
Faculty of Economics and Business
González, I. S. (2009) · Cited by 44
Social networks and household financial decisions: evidence from China
Jiang, M., Sun, R., & Zhang, B. (2022) · Journal of Applied Economics · doi:10.1080/15140326.2021.2007725 · Cited by 43
“…& Paiella, 2008), IQ (Grinblatt, Keloharju, & Linnainmaa, 2011), cognitive abilities (Christelis, Jappelli, & Padula, 2010), financial literacy (Van Rooij et al., 2011), peer-group effects (Brown, Ivković, Smith, & Weisbenner, 2008; Hong, Kubik, & Stein, 2004), and religious beliefs (Guiso,…”
What explains the gender gap in wealth? Evidence from administrative data
Meriküll, J., Kukk, M., & Rõõm, T. (2020) · Review of Economics of the Household · doi:10.1007/s11150-020-09522-x · Cited by 43
When financial literacy meets textual analysis: A conceptual review
Li, X. (2020) · Journal of Behavioral and Experimental Finance · doi:10.1016/j.jbef.2020.100402 · Cited by 60
Structural Estimation of Stock Market Participation Costs
Khorunzhina, N. (2013) · Journal of Economic Dynamics and Control · doi:10.1016/j.jedc.2013.08.011 · Cited by 40
Financial literacy, financial inclusion and participation of individual on the Ghana stock market
Akakpo, A. A., Amidu, M., Coffie, W., et al. (2022) · Cogent Economics & Finance · doi:10.1080/23322039.2021.2023955 · Cited by 43
“For instance, Van Rooij et al. (2011) in their study, estimate financial literacy and analyse how it is related to stock market participation which is an economic outcome in the Netherlands by devising two distinct modules for the DNB household survey.”
BackgroundDoes financial literacy improve financial behavior in emerging economies? Evidence from India
Lahiri, S., & Biswas, S. (2022) · Managerial Finance · doi:10.1108/mf-09-2021-0440 · Cited by 51
Financial Literacy and the Demand for Financial AdvicePreprint
Calcagno, R., & Monticone, C. (2013) · SSRN Electronic Journal · doi:10.2139/ssrn.2336061 · Cited by 46
What is an adequate standard of living during Retirement?
Binswanger, J., & Schunk, D. (2011) · Journal of Pensions Economics and Finance · doi:10.1017/s1474747211000618 · Cited by 125
“…et al., 2006), lack important information about the availability and characteristics of retirement accounts (Duflo and Saez, 2002, 2003; Duflo et al., 2006), lack the willpower to save sufficiently (Thaler, 1994) or lack financial literacy (Lusardi and Mitchell, 2007; van Rooij et al., 2007a).”
BackgroundMethodDoes cognitive aging affect portfolio choice?
Pak, T., & Babiarz, P. (2018) · Journal of Economic Psychology · doi:10.1016/j.joep.2018.03.001 · Cited by 42
Du, Q., Zhou, F., Yang, T., & Du, A. M. (2022) · Emerging Markets Finance and Trade · doi:10.1080/1540496x.2022.2153592 · Cited by 50
Ullah, R., Ismail, H., Khan, M. T. I., & Zeb, A. (2024) · Technology in Society · doi:10.1016/j.techsoc.2024.102454 · Cited by 52
Sansone, D., Rossi, M., & Fornero, E. (2018) · Journal of Consumer Affairs · doi:10.1111/joca.12207 · Cited by 48
“In fact, they tend to have more substantial retirement savings and to participate more intensively in the stock market (see, for instance, (van Rooij, Lusardi, & Alessie, 2011)).”
National culture and financial literacy: international evidence
Ahunov, M., & Hove, L. V. (2019) · Applied Economics · doi:10.1080/00036846.2019.1688241 · Cited by 47
“Indeed, studies from around the world show that financial literacy increases the quality of people’s financial choices (Sekita 2011; van Rooij, Lusardi, and Alessie 2011; Stolper 2018) and plays a crucial role in saving and wealth accumulation (Lusardi 2019).”
BackgroundResultConsumer Financial Knowledge and Cashless Payment Behavior for Sustainable Development in Poland
Śwıecka, B., Terefenko, P., Wiśniewski, T., & Xiao, J. J. (2021) · Sustainability · doi:10.3390/su13116401 · Cited by 51
“Financial knowledge includes knowledge of banking products, stock markets [30], retirement planning [31–34] and payments.”
Zhao, J., & Li, T. (2021) · Frontiers in Psychology · doi:10.3389/fpsyg.2021.724605 · Cited by 55
“Following Van Rooij et al. (2011), we use principal component analysis to construct the financial literacy index.”
BackgroundMethodTarget Date Funds and Portfolio Choice in 401(k) Plans
Mitchell, O. S., & Utkus, S. P. (2021) · Journal of Pensions Economics and Finance · doi:10.1017/s1474747221000263 · Cited by 42
Financial Sophistication in the Older Population
Lusardi, A., Mitchell, O. S., & Curto, V. E. (2012) · National Bureau of Economic Research · doi:10.3386/w17863 · Cited by 42
Self-citationGu, Y., & Wenzel, T. (2015) · International Journal of Industrial Organization · doi:10.1016/j.ijindorg.2015.07.008 · Cited by 41
Lu, X., Guo, J., & Gan, L. (2020) · Emerging Markets Review · doi:10.1016/j.ememar.2020.100691 · Cited by 36
Culture and adult financial literacy: Evidence from the United States
Davoli, M., & Rodríguez‐Planas, N. (2020) · Economics of Education Review · doi:10.1016/j.econedurev.2020.102013 · Cited by 48
Adil, M., Singh, Y., Subhan, M., Al‐Faryan, M. A. S., & Ansari, M. S. (2023) · Cogent Economics & Finance · doi:10.1080/23322039.2023.2169998 · Cited by 70
“…(Kaustia & Torstila, 2011), optimism (Puri & Robinson, 2007), experience regarding stock market return (2009, investment ability (Graham et al., 2009) financial literacy (Van Rooij et al., 2011), sociability (Georgarakos & Pasini, 2011), and trust in financial institution (Guiso et al., 2008a).”
BackgroundInfluentialRaut, R. K., & Kumar, S. (2023) · Digital Policy Regulation and Governance · doi:10.1108/dprg-07-2023-0101 · Cited by 66
Bolton, L. E., Bloom, P. N., & Cohen, J. B. (2011) · Journal of Marketing Research · doi:10.1509/jmkr.48.spl.s51 · Cited by 42
Factors that influence the financial literacy of young Spanish consumers
Torrubia, M. J. M., de Embún, D. P. X., Mediavilla, M., & Sancho, J. M. G. (2018) · International Journal of Consumer Studies · doi:10.1111/ijcs.12502 · Cited by 52
Is there a demand for reverse mortgages in China? Evidence from two online surveys
Hanewald, K., Bateman, H., Fang, H., et al. (2019) · Journal of Economic Behavior & Organization · doi:10.1016/j.jebo.2019.10.023 · Cited by 41
Examining the investment behavior of Arab women in the stock market
Salem, R. (2019) · Journal of Behavioral and Experimental Finance · doi:10.1016/j.jbef.2019.03.001 · Cited by 46
Money illusion, financial literacy and numeracy: Experimental evidence
Darriet, E., Guille, M., Vergnaud, J., & Shimizu, M. (2019) · Journal of Economic Psychology · doi:10.1016/j.joep.2019.102211 · Cited by 47
Is knowledge powerful? Evidence from financial education and earnings quality
HongYan, S., Yuen, D. C. Y., Zhang, J., et al. (2019) · Research in International Business and Finance · doi:10.1016/j.ribaf.2019.101179 · Cited by 41
What is an Adequate Standard of Living during Retirement?Preprint
Binswanger, J., & Schunk, D. (2008) · SSRN Electronic Journal · doi:10.2139/ssrn.1275702 · Cited by 41
Financial Education, Savings and Investments
Lewis, S., & Messy, F.-A. (2012) · OECD working papers on finance, insurance private pensions · doi:10.1787/5k94gxrw760v-en · Cited by 53
The Role of Experience Sampling and Graphical Displays on One's Investment Risk AppetitePreprint
Laudenbach, C., Weber, M., & Haisley, E. C. (2010) · SSRN Electronic Journal · doi:10.2139/ssrn.1616186 · Cited by 41
How financially literate are women? An overview and new insights
Bucher‐Koenen, T., Lusardi, A., Alessie, R. J. M., & van Rooij, M. (2014) · National Bureau of Economic Research · doi:10.3386/w20793 · Cited by 48
Self-citationHouse Price Cycles, Wealth Inequality and Portfolio ReshufflingPreprint
Martínez-Toledano, C. (2017) · HAL · Cited by 41
Credit counseling: a substitute for consumer financial literacy?
DISNEY, R., GATHERGOOD, J., & WEBER, J. (2015) · Journal of Pension Economics and Finance · doi:10.1017/s1474747215000219 · Cited by 64
“…1998; Lusardi and Mitchell, 2007, 2011; Chan and Stevens, 2008; Behrman et al., 2012), investment and portfolio decisions (Christelis et al., 2010; van Rooij et al., 2011; Yoong, 2011) and choices in the credit market (Lusardi and Tufano, 2009; Disney and Gathergood, 2013; Gerardi et al., 2013).”
Stereotypes and false consensus: How financial professionals predict risk preferences
Roth, B., & Voskort, A. (2014) · Journal of Economic Behavior & Organization · doi:10.1016/j.jebo.2014.05.006 · Cited by 47
Федорова, Е. А., Викторовна, Н. В., & Евгеньевич, Д. С. (2015) · Studies on Russian Economic Development · doi:10.1134/s1075700715040036 · Cited by 40
Sharif, S. P., Naghavi, N., Nia, H. S., & Waheed, H. (2020) · International Journal of Bank Marketing · doi:10.1108/ijbm-10-2019-0355 · Cited by 40
Financial Literacy Imperative for Success of Women Entrepreneurship
Baporikar, N., & Akino, S. (2020) · International Journal of Innovation in the Digital Economy · doi:10.4018/ijide.2020070101 · Cited by 40
Financial Education, Investor Protection and International Portfolio Diversification
Giofré, M. (2012) · Journal of International Money and Finance · doi:10.1016/j.jimonfin.2016.11.004 · Cited by 47
CEO Interviews on CNBCPreprint
Kim, A., & Meschke, F. (2011) · SSRN Electronic Journal · doi:10.2139/ssrn.1745085 · Cited by 41
How financially literate are women? Some new perspectives on the gender gap*
Bucher‐Koenen, T., Lusardi, A., Alessie, R. J. M., & van Rooij, M. (2012) · Max Planck Institute for Plasma Physics · Cited by 40
Self-citationLyons, A. C., Grable, J. E., & Zeng, T. (2019) · SSRN Electronic Journal · doi:10.2139/ssrn.3370021 · Cited by 39
Foltice, B., & Langer, T. (2018) · Journal of Behavioral and Experimental Finance · doi:10.1016/j.jbef.2018.04.002 · Cited by 39
Charfeddine, L., Umlai, M. I., & El-Masri, M. (2024) · Financial Innovation · doi:10.1186/s40854-023-00557-4 · Cited by 71
“On the one hand, a positive effect is observed of broadened financial knowledge and understanding that increases savings and investments, allowing for a better ability to cope with financial challenges (van Rooij et al. 2011).”
BackgroundShahrabani, S. (2012) · International Journal of Economics and Finance · doi:10.5539/ijef.v4n9p156 · Cited by 39
“The personal finance attitudes index was measured as an average level of the responses to the items on the attitude questionnaire. b. Financial literacy: The survey included a test of knowledge by means of multiple-choice questions based on Chen and Volpe, 1998, questions 12, 30, and on Van Rooij et al., 2011, box1, q…”
MethodThe Euroization of Bank Deposits in Eastern Europe
Brown, M., & Stix, H. (2014) · Economic Policy · doi:10.1093/epolic/eiu002 · Cited by 39
Calderone, M., Fiala, N., Mulaj, F., Sadhu, S., & Sarr, L. R. (2018) · Economic Development and Cultural Change · doi:10.1086/697413 · Cited by 42
Financial Knowledge, Risk Preferences, and the Demand for Digital Financial Services
Königsheim, C., Lukas, M., & Nöth, M. (2017) · Schmalenbach Business Review · doi:10.1007/s41464-017-0040-0 · Cited by 48
“However, previous research has mainly identified a clear direction of cause – financial literacy influences economic behavior (see e.g. van Rooij et al. (2011) and the summary provided in Lusardi and Mitchell (2014); moreover, it has been shown that the e ect of financial literacy on economic…”
BackgroundResultDoes gender disparity in financial literacy still persist after retirement? Evidence from Ghana
Adam, A. M., Boadu, M. O., & Frimpong, S. (2017) · International Journal of Social Economics · doi:10.1108/ijse-06-2016-0159 · Cited by 41
Eriksson, K., Hermansson, C., & Jönsson, S. (2020) · International Journal of Bank Marketing · doi:10.1108/ijbm-08-2019-0282 · Cited by 43
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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