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A2c The Impacts of Objective and Subjective Financial Knowledge on Transaction Frequency in Non-Retirement Investments
Short Description
This paper examines the predictors of transaction frequency of non-retirement investments. Using data from the 2018 National Financial Capability Study (NFCS) investor survey, the ordered probit regression model of transaction frequency examines its relationships with financial literacy, financial self-efficacy, risk tolerance, the percentage of stocks, the respondent's age, and gender. The results reveal that financial literacy, financial self-efficacy, and risk tolerance are related positively to transaction frequency. Investors aged 55 or older are less likely to trade frequently than younger people, and male investors trade more often than females. Theory and implication are also provided.
Type of presentation
Accepted Oral Presentation