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Impact of Financial Literacy on the Behavioral Biases of Individual Stock Investors: Evidence from Borsa Istanbul
Open accessAbstract
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.
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Planning and Financial Literacy: How Do Women Fare?
Lusardi, A., & Mitchell, O. S. (2008) · American Economic Review · doi:10.1257/aer.98.2.413 · Cited by 1,512 · cited 2×
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BackgroundPlanning and Financial Literacy: How Do Women Fare?
Lusardi, A., & Mitchell, O. (2008) · doi:10.3386/w13750 · Cited by 264
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Sorted by citations
How financial literacy moderate the association between behaviour biases and investment decision?
Adil, M., Singh, Y., & Ansari, M. S. (2022) · Asian Journal of Accounting Research · doi:10.1108/ajar-09-2020-0086 · Cited by 236
Metadata
- Authors
- Ateş, S., Coşkun, A., & Şahin, M. A.
- Affiliations
- Galatasaray University (TR)
- Boğaziçi University (TR)
- ORCID
- Ateş, Sinem
- Venue
- Business and Economics Research Journal
- Published
- 2016-09-19
- Volume
- 7
- Issue
- 3
- Pages
- 1-1
- ISSN
- 1309-2448 (ISSN-L)
- OpenAlex
- W2520181362
- Cited by
- 99
- References
- 2
- Citations by year
- 2026: 6 · 2025: 11 · 2024: 20 · 2023: 22 · 2022: 16 · 2021: 10 · 2020: 9 · 2019: 2 · 2018: 2 · 2017: 1
- FWCI
- 6.09
- Type
- journal article
- Language
- en
- Open access
- bronze
- doi.org
- Locations
- Business and Economics Research Journal (publishedVersion)
- RePEc: Research Papers in Economics (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, behavioral biases, investor decision-making, financial information sources, Borsa Istanbul
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- Ateş, S., Coşkun, A., & Şahin, M. A. (2016). Impact of Financial Literacy on the Behavioral Biases of Individual Stock Investors: Evidence from Borsa Istanbul. Business and Economics Research Journal. https://doi.org/10.20409/berj.2016321805
