Trust, financial literacy, and financial market participation
Willingness to participate in financial markets is important for financial well-being, including the accumulation of retirement savings through self-directed pension programs. We consider the roles of two key factors, trust and financial literacy in financial market participation. We find both are s...
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| Veröffentlicht in: | Journal of pension economics & finance 2022-10, Vol.21 (4), p.634-664 |
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| container_end_page | 664 |
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| container_title | Journal of pension economics & finance |
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| creator | Fisch, Jill E. Seligman, Jason S. |
| description | Willingness to participate in financial markets is important for financial well-being, including the accumulation of retirement savings through self-directed pension programs. We consider the roles of two key factors, trust and financial literacy in financial market participation. We find both are strongly related to participation. Although trust is more uniformly correlated with increases in financial market participation, the relationship between financial literacy and engagement is u-shaped, with increases in financial literacy first associated with reductions and subsequently with increases in the levels of participation. Our findings suggest trust and financial literacy play different roles and that each is related to investment behaviors in important ways. |
| doi_str_mv | 10.1017/S1474747221000226 |
| format | Article |
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| fulltext | fulltext |
| identifier | ISSN: 1474-7472 |
| ispartof | Journal of pension economics & finance, 2022-10, Vol.21 (4), p.634-664 |
| issn | 1474-7472 1475-3022 |
| language | eng |
| recordid | cdi_proquest_journals_2717616092 |
| source | PAIS Index; Cambridge Journals |
| subjects | Accumulation Economic well being Financial literacy Financial market Households Investments Investors Literacy Markets Participation Preferences Retirement Securities markets Stock exchanges |
| title | Trust, financial literacy, and financial market participation |
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