1- PhD student in accounting, Sari Branch, Islamic Azad University, Sari, Iran 2- Assistant Professor of Accounting, Sari Branch, Islamic Azad University, Sari, Iran. , zabihi@iausari.ac.ir 3- Associate Professor of Accounting, Semnan Branch, Islamic Azad University, Semnan, Iran. and visiting professor of accounting department of Sari branch, Islamic Azad University, Sari, Iran
Abstract: (1074 Views)
Today, financial decisions are increasingly becoming one of the most complicated human behaviors and people require an extensive range of skills and knowledge to make informed choices and manage their finances. For this reason, financial literacy is gaining attention around the world and the citizens with a strong understanding of financial basics are more likely to make more informed choices in this field. The present study aimed to investigate the role of financial literacy in the effect of risk tolerance on individual investment decision-making on the Tehran Stock Exchange. This study was applied in terms of purpose and descriptive survey in terms of nature and research method. The population included the individual investors of Tehran Stock Exchange, 384 of whom were tested based on Cochran's formula for an unlimited population at 5% error level.The data collection tools included standard questionnaires and also data analysis and hypothesis testing were conducted using the structural equation modeling method in SPSS26and PLS3software. The results indicated that financial risk tolerance and financial literacy affect investors' decision-making. Furthermore, financial risk tolerance has an effect on investors' decision-making regarding the mediating variable of financial literacy.
momeni S, zabihi A, FaghaniMakerani K. The role of financial literacy in the effect of financial risk tolerance on individual investment decision-making. mieaoi 2021; 10 (36) : 16 URL: http://mieaoi.ir/article-1-1347-en.html