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2024 Annual Conference

May 21–23, 2024

Hyatt Regency Milwaukee, Milwaukee, WI, USA

IMPORTANT NOTICE: The date, time, and room assignment of YOUR presentation is SUBJECT TO CHANGE.

Proposal authors can use this tool to see where they have been placed in the program agenda for an Oral or Poster Session.

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Confirm your place in the schedule by following the instructionss that were emailed to you. Each presentation must have a separate paid registration. Contact the ACCI office immedicately by email at admin@consumerinterests.org to report any conflict, all corrections to the details of the presentation (including author names and the order they are listed as this is how it will be in the final program), or if you have any questions. Please be sure to reference the session title(s), date(s), and time(s) when you contact us.

H3c Investment Literacy and Investment Motivations: Exploring Diverse Drivers

Thursday, May 23, 2024 at 1:00 PM–2:30 PM CDT
Room 3
Short Description

This research examinates the relationship between investment literacy and the diverse motivations that drive individuals to invest. The study investigates five primary motivational factors that encompass the spectrum of investor intent, including short-term investment gain, entertainment/engagement, social interactions, social support, social responsibility, and the pursuit of knowledge. The findings derived from the 2021 National Financial Capability Study (NFCS) Investor Survey demonstrate a negative relationship between persons possessing a high level of objective investment literacy and their multifaceted investment motivation towards short-term profit, entertainment/engagement, social interactions, and social responsibility. Investors with a higher level of subjective investment literacy exhibit a greater inclination towards being driven by short-term profitability, entertainment/engagement, social interactions, , social responsibility, and learning objectives in the context of investment activities. Moreover, risk tolerance is also associated positively with all investment motivations. The results of this study have implications for researchers and consumer financial service practices.

Type of presentation

Accepted Oral Presentation

Submitter

Yi Liu, St. John Fisher University

Authors

Yi Liu, St. John Fisher University
Kyoung Tae Kim, University of Alabama
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