An Investigating the moderating effect of financial literacy on the relationship between behavioral biases and investment decisions

January 22, 2024Judgment and Decision Making in Accounting فصلنامه فضاوت و تصمیم گیری در حسابداریOpen Access

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Key Points

The aim is to examine how financial literacy influences the link between behavioral biases and investment choices.
Descriptive-survey research design with a cross-sectional approach.
Involves a structured questionnaire distributed among 196 active investors in the stock market.
Data analysis included Pearson correlation and Cronbach's alpha for reliability and validity, with hierarchical regression for hypothesis testing.
Financial literacy has a significant positive moderating effect on the relationship between behavioral biases and investment decisions.
Enhanced financial literacy improves decision-making by mitigating biases such as overconfidence, risk aversion, and herd behavior.

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Demonstrates the positive moderating effect of financial literacy on investment decisions amid behavioral biases.

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جاز et al. (2024) studied this question.

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