Financial literacy and behavioural finance: New approach to measure the mutual link
| Authors | |
|---|---|
| Year of publication | 2016 |
| Type | Article in Proceedings |
| Conference | The 8th international conference: Economic Challenges in Enlarged Europe |
| MU Faculty or unit | |
| Citation | |
| Field | Economy |
| Keywords | behavioural finance; financial literacy; pilot survey; behavioural bias |
| Description | The goal of this article is to summarize results of a pilot research and to introduce new approach to financial literacy and behavioural finance testing – experimental sessions. The pilot research is based on an electronic questionnaire consisting of three parts. In the first part respondents provide their personal and demographic data. The second part is devoted to financial literacy testing in the way of a test with various types of questions. The last part verifies respondent’s tendency to be influenced by several behavioural biases. In terms of pilot survey, two sample t-tests are employed to compare the groups. The data processing of outcomes from the experimental sessions ranges from descriptive statistics to t-tests, regressions analysis and ANOVA. |
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