Journal of Economic Policy Researches

SUBMITINFORMATION
EnglishTürkçe

Research Article


DOI :10.26650/JEPR1406361   IUP :10.26650/JEPR1406361    Full Text (PDF)

The Effect Of Financial Literacy On Participation In Investment Markets: A Study On University of Health Sciences Students

Barış Sancak, Dilek Demirbaş

The purpose of this study is to examine the effect of university students’ financial literacy level on their participation in financial investment markets. For this purpose, a survey was conducted with the participation of 703 undergraduate and associate degree students at the University of Health Sciences. The obtained data were subjected to logistic regression analysis. According to the analysis results, objective financial literacy did not have a significant effect on participation in investment markets. It was determined that perceived financial literacy impacts participation in investment markets. Further, while it was concluded that risk aversion, savings tendency, gender, age, working status, and the presence of family members in the field of finance had an impact on students’ participation in financial investment markets, it was determined that education level was not an explanatory factor on participation in such markets. Additionally, while a positive relationship was found between perceived higher financial literacy, propensity to save, age, being employed, having a family member working in the field of finance, and investing in financial instruments, a negative relationship was determined between risk aversion, being a woman, and investing in financial instruments. Consequently, although students invest in financial instruments based on a rational reason in accordance with their level of financial literacy, in reality, they do not have this level of financial literacy, and their financial investments consist of speculative investments that are not supported by basic investment knowledge. Although they intend to act consciously when making investment decisions, they make unconscious investments without realising it.

Keywords: Finance knowledge, Financial literacy, Investment decisions, Financial inclusion, Logistic regression
JEL Classification : C93 , D14 , G11
DOI :10.26650/JEPR1406361   IUP :10.26650/JEPR1406361    Full Text (PDF)

Finansal Okuryazarlığın Yatırım Piyasalarına Katılım Üzerindeki Etkisi: Üniversite Öğrencileri Üzerine Bir İnceleme

Barış Sancak, Dilek Demirbaş

Çalışmanın amacı üniversite öğrencilerinin finansal okuryazarlık düzeylerinin finansal yatırım piyasalarına katılımları üzerindeki etkisini incelemektir. Bu amaç doğrultusunda Sağlık Bilimleri Üniversitesi’nde öğrenim gören 703 lisans ve ön lisans öğrencisinin katıldığı bir anket çalışması gerçekleştirilmiştir. Elde edilen veriler lojistik regresyon analizine tabi tutulmuştur. Analiz sonuçlarına göre objektif finansal okuryazarlığın yatırım piyasalarına katılım üzerinde anlamlı bir etkisinin olmadığı belirlenmiştir. Algılanan finansal okuryazarlığın ise yatırım piyasalarına katılım üzerinde etkili olduğu saptanmıştır. Bunun yanı sıra, risk karşıtlığı, tasarruf eğilimi, cinsiyet, yaş, çalışma durumu ve aile bireyleri arasında finans alanında çalışan bulunmasının öğrencilerin finansal yatırım piyasalarına katılımları üzerinde etkili olduğu sonucuna ulaşılırken, öğrenim durumunun finansal yatırım piyasalarına katılım üzerinde açıklayıcı bir faktör olmadığı saptanmıştır. Ayrıca, algılanan yüksek finansal okuryazarlık, tasarruf eğilimi, yaş, çalışıyor olma ve aile bireyleri arasında finans alanında çalışan bulunması ile finansal araçlara yatırım yapılması arasında doğru yönlü bir ilişki tespit edilirken, risk karşıtlığı ve kadın olma ile finansal araçlara yatırım yapılması arasında ters yönlü bir ilişki belirlenmiştir. Sonuç olarak, öğrenciler her ne kadar sahip olduklarını düşündükleri finansal okuryazarlık seviyesine uygun olarak, akılcı bir sebebe dayanarak finansal araçlara yatırım yapsalar da gerçekte sahip olduklarını düşündükleri finansal okuryazarlık düzeyine sahip olmadıkları için yapmış oldukları finansal yatırımlar, temel yatırım bilgisiyle desteklenmemiş spekülatif nitelikte yatırımlardan ibarettir. Yatırım kararı alırken bilinçli davranma niyetine sahip olmalarına rağmen farkında olmadan bilinçsiz yatırımlar yapmaktadırlar.

Keywords: Finans bilgisi, Finansal okuryazarlık, Yatırım kararları, Finansal tabana yayılma, Lojistik regresyon
JEL Classification : C93 , D14 , G11

EXTENDED ABSTRACT


The purpose of this study is to examine the effect of university students’ financial literacy level on their participation in financial investment markets. For this purpose, a survey was conducted with the participation of 703 undergraduate and associate degree students at the University of Health Sciences. The obtained data were subjected to logistic regression analysis. According to the analysis results, although objectively measured financial literacy (via a test) did not have a significant effect on participation in investment markets, perceived financial literacy measured through self-report had an impact on participation in such markets. While students make their investment choices, they do not support their actions even with a basic investment knowledge. The low financial literacy score also supports this result (Average 33.3). On the other hand, students are aware of whether they are qualified to invest or not. However, they invest without having basic investment knowledge. This reveals that students act irrationally in their investment choices and tend to behave speculatively. In addition, while it was concluded that risk aversion, savings tendency, gender, age, working status, and the presence of family members in the field of finance had an impact on students’ participation in financial investment markets, it was determined that education level was not an explanatory factor on participation in such markets. Additionally, while a positive relationship was found between perceived financial literacy, propensity to save, age, being employed, having a family member working in the field of finance, and investing in financial instruments, a negative relationship was determined between risk aversion, being a woman, and investing in financial instruments. Supposing that exposure to risk is part of the nature of investing, it makes sense that a negative relationship between risk aversion and investing in financial instruments. Considering that savings are the source of financing investments, a direct relationship is expected between saving and investing. Working students (mean 0.92/2) have a higher savings bracket than non-working students (mean 0.71/2). This is a possible explanation for the relatively high tendency of working students to invest. The fact that women’s risk aversion (mean. 3.66/5) is higher than men’s (mean. 3.30/5) is a possible reason why women tend to invest less in financial instruments. The presence of a parent or sibling who works in finance can create a positive externality for other family members through that person’s financial knowledge, financial socialisation and experience. This is a possible explanation for the positive effect of having a financial employee in the family on financial investments. Considering that being a university student is a semi-autonomous process on the way to becoming an individual independent of parental guidance, many students make their own consumption, savings, and investment decisions for the first time during their time at university. This can be expected to create awareness, experience, and awareness among students over time when making individual financial decisions. Thus, older students may tend to invest. It can be said that the participation rates of undergraduate (39.86%) and associate degrees (38.02%) students in investment markets are increasing. This indicates that students in both groups have similar financial awareness. This may indicate that academic success does not have a decisive effect on financial awareness. As a result, although students invest in financial instruments based on a rational reason in accordance with their level of financial literacy, in reality, they do not have this level of financial literacy, and their financial investments consist of speculative investments that are not supported by basic investment knowledge. Although they intend to act consciously when making investment decisions, they make unconscious investments without realising it. Students’ attempts to invest without increasing their knowledge on financial matters prevent them from being able to manage their risks correctly and make rational financial decisions. Today, when access to information is easier than ever before, it is recommended that students invest in financial instruments after increasing their financial literacy to prevent possible material and moral losses. Considering that financial literacy is a common issue for all segments of society, policymakers are recommended that courses in the field of personal finance should be taught as compulsory courses not only in the economics and finance-themed departments of universities but also in the curricula of all undergraduate and associate degree departments.


PDF View

References

  • Akben Selcuk, E., & Altiok Yilmaz. A.(2014). Financial literacy among Turkish College Students: The role of formal education, Learning Approaches and Parental Teaching Psychological Reports, 115(2), 351-371. google scholar
  • Akgül, A. (2021). İstatistiksel Analiz Teknikleri: SPSS’te İşletme Yönetimi ve İktisat Uygulamaları, Alfa Yayınevi. google scholar
  • Allgood, S., & Walstad, W. B. (2016). The effects of perceived and actual financial literacy on financial behaviors, Economic Inquiry, 54(1), 675-697. google scholar
  • Almenberg, J., & Dreber, A. (2015). Gender, stock market participation and financial literacy Economics Letters, 137, 140-142. google scholar
  • Anderson, A., Baker, F., & Robinson, D. T. (2017). Precautionary savings, retirement planning and misperceptions of financial literacy, Journal of Financial Economics, 126, 383-398. google scholar
  • Anindita, N. L. P. S. D., Ulpah, M. (2020). Individual traits, risk perception, financial literacy & ınvestment decisions, Proceedings Of The 5th Padang International Conference On Economics Education, Economics, Business And Management, Accounting And Entrepreneurship, PICEEBA-5 2020, 152, 542-548. google scholar
  • Aren, S., & Hamamcı, H. N. (2019). Relationship between risk aversion, risky investment intention, investment choices Impact of personality traits and emotion, Kybernetes, 49(11), 2651-2682. google scholar
  • Aren, S., & Hamamcı, H. N. (2022). Evaluation of investment preference with phantasy, emotional intelligence, confidence, trust, financial literacy and risk preference, Kybernetes, 52(12), 6203-6231. google scholar
  • Aren, S., & Canikli, S. (2019). Effect of financial literacy and risk perception on individual ınvestors’ ınvestment choices,European Proceedings ofSocial and Behavioural Sciences, 54, 800-809. google scholar
  • Aren, S., & Dinç Aydemir, S. (2015). The factors influencing given investment choices of individuals, Procedia Social and Behavioral Sciences, 210, 126-135. google scholar
  • Aren, S., & Akgüneş, A. O. (2019). Objective, subjective financial literacy ınfluence on cognitive style and financial risk perception, European Proceedings of Social and Behavioural Sciences, 71, 338-345. google scholar
  • Arora, J., & Chakraborty, M. (2022). Role of financial literacy in ınvestment choices of financial consumers: An ınsight from India, International Journal of Social Economics, 50(3), 377-397. google scholar
  • Arslan, O. (2020). Üniversite öğrencilerinde finansal okuryazarlık düzeyinin belirlenmesi: Sivas Cumhuriyet Üniversitesi İktisadi ve İdari Bilimler Fakültesi Örneği, Kahramanmaraş Sütçü İmam Üniversitesi Sosyal Bilimler Dergisi, 17(1), 227-257. google scholar
  • Atkinson, A., & Messy, F.-A. (2011). Assessing financial literacy in 12 countries: An OECD/INFE International Pilot Exercise, Journal of Pension Economics and Finance, 10(4), 657-665. google scholar
  • Baltacı, N., & Kütük, E. (2020). Üniversite öğrencilerinin finansal okuryazarlık seviyelerinin belirlenmesi üzerine bir araştırma: Doğu Karadeniz Örneği, Gümüşhane Üniversitesi Sosyal Bilimler Dergisi, 11(3), 846-857. google scholar
  • Barbic, D., Palic, I., & Bahovec, V. (2016). Logistic regression analysis of financial literacy implications for retirement planning in Croatia, Croatian Operational Research Review, 7(2), 319-331. google scholar
  • Bianchi, M. (2018). Financial literacy and portfolio dynamics, The Journal of Finance, 73(2), 831-859. google scholar
  • Bodie, Z., & Crane, D. B. (1997). Personal investing: advice, theory and evidence, Financial Analysts Journal, 53, 13-23. google scholar
  • Borden, l. m., Lee, s.-a., Serido, j., & Collins, D. (2008). changing college students’ financial knowledge, attitudes, and behavior through seminar participation. Journal of Family and Economic Issues, 29, 23-40. google scholar
  • Burke, M. A., & Manz, M. (2014). Economic literacy and ınflation expectations: evidence from a laboratory experiment, Journal of Money, Credit and Banking, 46(7), 1421-1456. google scholar
  • Calcagno, R., & Monticone, C. (2015). Financial literacy and the demand for financial advice, Journal of Banking & Finance, 50(1), 363-380. google scholar
  • Campbell, J. Y. (2006). Household finance, Journal of Finance, 61, 1553-1604. google scholar
  • Chawla, D., Bhatia, S., & Singh, S. (2022). Parental influence, financial literacy and investment behaviour of young adults, Journal of Indian Business Research, 14(4), 520-539. google scholar
  • Chen, H., & Volpe, R. P. (1998). An analysis of personal financial literacy among college students, Financial Services Review, 7(2), 107-128. google scholar
  • Cohen, J., Cohen, P., West, S. G. & Aiken L. S. (2003). Applied multiple regression/correlation analysis for the behavioral sciences, London: Lawrence Erlbaum Associates. google scholar
  • Cull, M., & Whitton, D. (2011). University students’ financial literacy levels: obstacles and aids, The Economic and Labour Relations Review, 22(1), 99-114. google scholar
  • Cumurovic, A., & Hyll, W. (2019). Financial literacy and self-employment, Journal of Consumer Affairs, 53, 455-487. google scholar
  • Çavuşoğlu, A., Ekşi, İ. H., & Sit, A. (2023). The Relationship between behavioral tendencies and stock market participation: A study for Accounting and Finance Academics, Istanbul Business Research, 52(1), 47-65. google scholar
  • Dahiya, M., Özen, E., & Yadav, K. (2023). the financial literacy of college students: evidence from India, CMU Journal of Social Sciences and Humanities, 10(1), 1-13. google scholar
  • Dinç Aydemir, S., & Aren, S. (2017). Do the effects of ındividual factors on financial risk-taking behavior diversify with financial literacy?, Kybernetes, 46(10), 1706-1734. google scholar
  • Dwyer, P. D., Gilkeson, J. H., & List, J. A. (2002). Gender differences in revealed risk taking: evidence from mutual fund investors, Economics Letters, 76(2), 151-158. google scholar
  • Ergün, K. (2017). Financial literacy among university students: A study in eight European countries, International Journal ofConsumerStudies, 42(1), 2-15. google scholar
  • Evangelou, A., Ferreira-Schenk, S., Ferreira, L., & Bothma, E. (2022). Investment risk tolerance amongst South African University Students in the Vaal Triangle Area, International Journal of Economics and Financial Issues, 12(1), 13-23. google scholar
  • Fauzi, A. W., Ahmad, A. R., Husniyah, S., & Mohamad Fazli, O. (2017). Financial risk tolerance as a predictor for Malaysian Employees’ Gold Investment Behavior, Regional Studies On Economic Growth, Financial Economics and Management, 7, 63-76. google scholar
  • Felipe, I. J. D. S., Ceribeli, H., & Lana, T. Q. (2017). Investigating the level of financial literacy of university students. Revista de Administraçao, Contabilidade e Economia - RACE, 16(3), 845-866. google scholar
  • Field, Andy. (2009). Discovering Statistics Using SPSS, SAGE Publications. google scholar
  • Fujuki, H. (2021). Crypto asset ownership, financial literacy, and investment experience. Applied Economics, 53(39), 4560-4581. google scholar
  • Gathergood, J., & Weber, J. (2017). Financial literacy, present bias and alternative mortgage products, Journal of Banking & Finance, 78, 58-83. google scholar
  • Gavurova, B., Kubak, M., Huculova, E., Popadakova, D., & Bilan, S. (2019). Financial literacy and rationality of Youth in Slovakia, Transformations in Business & Economics, 18(3), 43-53. google scholar
  • Guiso, L., & Jappelli, T. (2005). Awareness and stock market participation, Review of Finance, 9(4), 537-567. google scholar
  • Gürbüz, S., & Şahin, F. (2018). Sosyal Bilimlerde Araştırma Yöntemleri, Ankara: Seçkin Yayıncılık. google scholar
  • Gürbüz, H., & Yılmaz, V. (2023). üniversite öğrencilerinin yatırım davranışlarını etkileyen faktörlerin bir yapısal model ile araştırılması. Eskişehir Osmangazi Üniversitesi Sosyal Bilimler Dergisi, 24(3), 708-722. google scholar
  • Haliassos, M., & Bertaut, C. C. (1995). Why do so few hold stocks?, The Economic Journal, 105(432), 1110-1129. google scholar
  • Happ, R., Hahn, J., Jang, K., & Rueter, I. (2022). Financial knowledge of university students in Korea and Germany, Research in Comparative and International Education, 17(2), 301-327. google scholar
  • Hosmer, D. W., & Lemeshow, S. (2000). Applied Logistic Regression, New York: Wiley. google scholar
  • Hsiao, Y. J., & Tsai, W. C. (2018). Financial literacy and participation in the derivatives markets, Journal Of Banking And Finance, 88, 15-29. google scholar
  • Huston, S. J. (2010). Measuring financial literacy, Journal of Consumer Affairs, 44(2), 271-429. google scholar
  • Kunovskaya, I. A., Cude, B. J., & Alexeev, N. (2014). Evaluation of a financial literacy test using classical test theory and item response theory. Journal of Family and Economic Issues, 35, 516-531. google scholar
  • Jorgensen, B. L., & Savla, J. (2010). Financial literacy of young adults: The Importance of parental socialization, Family Relations, 59, 465-478. google scholar
  • Kadoya, Y., Khan, M. S., & Rabbani, N. (2017). Does Financial Literacy Affect Stock Market Participation?, 5 Ocak 2023 tarihinde SSRN Elektronik Dergisi: https://ssrn.com/abstract=3056562 adresinden alındı. google scholar
  • Kappal, J. M., & Rastogi, S. (2020). Investment behaviour of women entrepreneurs, Qualitative Research in Financial Markets, 12(4), 485-504. google scholar
  • Karhunen, P., & Ledyaeva, S. (2010). Determinants of entrepreneurial ınterest and risk tolerance among Russian University Students: Empirical Study, Journal of Enterprising Culture, 18(3), 229-263. google scholar
  • Khawar, S., & Sarwar, A. (2021). Financial literacy and financial behavior with the mediating effect of family financial socialization in the financial institutions of Lahore, Pakistan, Future Business Journal, 7(1), 1-11. google scholar
  • Khan, M. S. R., Rabbani, N., & Kadoya, Y. (2020). Is financial literacy associated with investment in financial markets in the United States?, Sustainability, 12(18), 1-14. google scholar
  • Kumar, A. (2009). Who gambles ın the stock market?, The Journal of Finance, 64(4), 1889-1933. google scholar
  • Lantara, I. W. N., & Kartini, N. K. R. (2015). financial literacy among university students: empirical evidence from google scholar
  • Indonesia, Journal of Indonesian Economy and Business, 30(3), 247-256. google scholar
  • Liao, L., Xiaob, J. J., Zhanga, W., & Zhoua, C. (2017). Financial literacy and risky asset holdings: Evidence from China, Accounting & Finance, 57, 1383-1415. google scholar
  • Lotto, J. (2020). Towards improving households’ ınvestment choices in Tanzania: Does financial literacy really matter?, International Journal of Financial Studies, 8(2), 1-10. google scholar
  • Lusardi, A., & Mitchell, O. S. (2011). Financial Literacy and Planning: Implications for Retirement Wellbeing, 15 Mart 2023 tarihinde National Bureau of Economic Research: https://www.nber.org/system/files/working_papers/w17078/w17078.pdf adresinden alındı. google scholar
  • Lusardi, A., & Mitchell, O. S. (2014). The Economic ımportance of financial literacy: theory and evidence, Journal of Economic Literature, 52(1), 5-44. google scholar
  • Lusardi, A., Mitchell, O. S., & Curto, V. (2010). Financial literacy among the young, Journal of Consumer Affairs, 44(2), 358-380. google scholar
  • Mahdzan, N. S., Zainudin, R., & Yoong, S.-C. (2020). Investment literacy, risk tolerance and mutual fund ınvestments: An exploratory study of working adults in Kuala Lumpur, International Journal of Business and Society, 21(1), 111-133. google scholar
  • Montford, W., & Goldsmith, R. E. (2016). How gender and financial self-efficacy ınfluence ınvestment risk taking, International Journal of Consumer Studies, 40(1), 101-106. google scholar
  • Moore, D. L. (2003), Survey of Financial Literacy in Washington State: Knowledge, Behavior, Attitudes, and Experiences (Technical Report Number 03-39), 15 Mart 2023 tarihinde ResearchGate: https://www.researchgate.net/publication/265728242_Survey_of_Financial_Literacy_in_Washington_State_ Knowledge_behavior_Attitudes_and_Experiences adresinden alındı. google scholar
  • Mouna, A., & Anis, J. (2016). Financial literacy in Tunisia: Its determinants and ıts ımplications on ınvestment behavior, Research in International Business and Finance, 39, 568-577. google scholar
  • Munir, I. U., Yue, S., Ijaz, M. S., Hussain, S., & Zaidi, S. Y. (2020). Financial literacy and stock market participation: Does gender matter?, Singapore Economic Review, 69(3), 1211-1230. google scholar
  • Nguyen, L. T. M., Gallery, G., & Newton, C. (2016). The Influence of financial risk tolerance on ınvestment decision-making in a financial advice context, Australasian Accounting Business And Finance Journal, 10(3), 3-22. google scholar
  • Nguyen, T. A. N., Polach, J., & Voznakova, I. (2019). The Role of financial literacy in retirement ınvestment choice, Equilibrium-Quarterly Journal Of Economics And Economic Policy, 14(4), 569-589. google scholar
  • Nguyen, T. A. N., & Nguyen, K. M. (2020). Role of financial literacy and peer effect in promotion of financial market participation: Empirical evidence in Vietnam. Journal of Asian Finance Economics and Business, 7(6), 1-8. google scholar
  • OECD/INFE (2017). International Survey of Adult Financial Literacy Competencies, 3 Nisan 2023 tarihinde OECD/INFE: https://www.oecd.org/daf/fin/financial-education/OECD-INFE-International-Survey-of-Adult-Financial-Literacy-Competencies.pdf adresinden alındı. google scholar
  • Özdemir, A., Temizel, F., Sönmez, H., & Er, F. (2015). Financial literacy of university students: A Case study for Anadolu University, Turkey, Uluslararası Yönetim İktisat ve İşletme Dergisi, 11(24), 97-110. google scholar
  • Pant, M., Roy Chowdhury, P., & Singh, G. (2009). Financial ıntermediation and employment,. Review of Market Integration, 1(1), 61-82. google scholar
  • Raut, R. K. (2020). Past behaviour, financial literacy and investment decision-making process of individual investors, International Journal of Emerging Markets, 15(6), 1243-1263. google scholar
  • Salem, R. (2019). Examining the ınvestment behavior of Arab Women in the stock market, Journal of Behavioral and Experimental Finance, 22, 151-160. google scholar
  • Sarsour, N., Aldaya, W., & Aldalou, E. (2023). Assessment of financial literacy: Case study of Business students, Uluslararası İktisadi ve İdari İncelemeler Dergisi, 39, 123-137. google scholar
  • Sezal, L. (2021). Üniversite öğrencilerinin finansal okuryazarlık düzeyleri üzerine bir inceleme: Kahramanmaraş Sütçü İmam Üniversitesi Sosyal Bilimler Meslek Yüksekokulu Örneği, Kahramanmaraş Sütçü İmam Üniversitesi Sosyal Bilimler Dergisi, 18(3), 2114-2137. google scholar
  • Shum, P., & Faig, M. (2006). What explains household stock holdings?, Journal of Banking & Finance, 30, 2579-2597. google scholar
  • Spataro, L., & Corsini, L. (2017). Endogenous financial literacy, saving, and stock market participation, Fınanzarchiv, 73(2), 135-162. google scholar
  • Statista (2023). Distribution of Cryptocurrency User Rate in Turkey in 2020, by Age, 8 Nisan 2023 tarihinde Statista: https://www.statista.com/statistics/1223592/cryptocurrency-user-age-turkey/ adresinden alındı. google scholar
  • Stoian, A., Vintilâ, N., lorgulescu, F., Ciobanu, R., Cepoi, C., Dina, A. E., & Draghia, A. E. (2020). Financial literacy, risk aversion and financial behaviours: What shapes the preference for capital market participation?, Alina Mihaela Dima, Proceedings of the International Conference on Economics and Social Sciences, 877 - 884. google scholar
  • Temel Nalın, H. (2013). Determinants of household saving and portfolio choice behaviour in Turkey, Acta Oeconomica, 63(3), 309-331. google scholar
  • Tetik, N. (2019). Üniversite öğrencilerinin finansal okuryazarlık düzeylerinin incelenmesi: İnönü Üniversitesi Örneği, Manas Journal of Social Studies, 8(3), 2755-2774. google scholar
  • Triple-A (2023). Cryptocurrency Ownership Data, 9 Mayıs 2023 tarihinde Triple-A: https://triple-a.io/crypto-ownership-data/ adresinden alındı. google scholar
  • Van Ooijen, R., & Van Rooij, M. (2016). Mortgage risks, debt literacy and financial advice, Journal of Banking & Finance, 72, 201-217. google scholar
  • Van Rooij, M., Lusardi, A., & Alessie, R. (2011). Financial literacy and stock market participation, Journal of Financial Economics, 101, 449-472. google scholar
  • VAP (2023). Yaş Grupları Bazında Yatırımcı Sayıları, 12 Mayıs 2023 tarihinde Veri Analiz Platformu: https://www.vap.org.tr/yas-gruplari-bazinda-yatirimci-sayilari adresinden alındı. google scholar
  • Xu, S., Xiong, Z. T., & Jiao, L. (2019). Financial literacy and household ınvestment performance: Evidence from China, Transformations In Business & Economics, 18(2), 237-258. google scholar
  • Yin, H. Y., & Yang, Q. S. (2022). Investor financial literacy, decision-making behavior, and stock price volatility-evidence from behavioral experiments, Journal of Neuroscience Psychology and Economics, 15(2), 69-88. google scholar
  • Yoong, J. (2010). Financial ılliteracy and stock market participation: Evidence from the RAND American Life Panel, 19 Nisan 2023 tarihinde SSRN: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=1707523 adresinden alındı. google scholar
  • Yuan, H., Puah, C.-H., & Yau, J. T.-H. (2022). How does population aging ımpact household financial asset ınvestment?, Sustainability, 14(22), 1-14. google scholar
  • Yürük, M. (2023). Finansal okuryazarlık düzeylerinin belirlenmesine yönelik bir araştırma: Dicle Üniversitesi Örneği, Dicle Üniversitesi Sosyal Bilimler Enstitüsü Dergisi, 33, 426-452. google scholar
  • Zhao, H. D., & Zhang, L. N. (2021). Financial literacy or ınvestment experience: Which Is more ınfluential ın cryptocurrency ınvestment?, International Journal Of Bank Marketing, 39(7), 1208 - 1226. google scholar

Citations

Copy and paste a formatted citation or use one of the options to export in your chosen format


EXPORT



APA

Sancak, B., & Demirbaş, D. (2024). The Effect Of Financial Literacy On Participation In Investment Markets: A Study On University of Health Sciences Students. Journal of Economic Policy Researches, 11(2), 204-225. https://doi.org/10.26650/JEPR1406361


AMA

Sancak B, Demirbaş D. The Effect Of Financial Literacy On Participation In Investment Markets: A Study On University of Health Sciences Students. Journal of Economic Policy Researches. 2024;11(2):204-225. https://doi.org/10.26650/JEPR1406361


ABNT

Sancak, B.; Demirbaş, D. The Effect Of Financial Literacy On Participation In Investment Markets: A Study On University of Health Sciences Students. Journal of Economic Policy Researches, [Publisher Location], v. 11, n. 2, p. 204-225, 2024.


Chicago: Author-Date Style

Sancak, Barış, and Dilek Demirbaş. 2024. “The Effect Of Financial Literacy On Participation In Investment Markets: A Study On University of Health Sciences Students.” Journal of Economic Policy Researches 11, no. 2: 204-225. https://doi.org/10.26650/JEPR1406361


Chicago: Humanities Style

Sancak, Barış, and Dilek Demirbaş. “The Effect Of Financial Literacy On Participation In Investment Markets: A Study On University of Health Sciences Students.” Journal of Economic Policy Researches 11, no. 2 (Nov. 2024): 204-225. https://doi.org/10.26650/JEPR1406361


Harvard: Australian Style

Sancak, B & Demirbaş, D 2024, 'The Effect Of Financial Literacy On Participation In Investment Markets: A Study On University of Health Sciences Students', Journal of Economic Policy Researches, vol. 11, no. 2, pp. 204-225, viewed 24 Nov. 2024, https://doi.org/10.26650/JEPR1406361


Harvard: Author-Date Style

Sancak, B. and Demirbaş, D. (2024) ‘The Effect Of Financial Literacy On Participation In Investment Markets: A Study On University of Health Sciences Students’, Journal of Economic Policy Researches, 11(2), pp. 204-225. https://doi.org/10.26650/JEPR1406361 (24 Nov. 2024).


MLA

Sancak, Barış, and Dilek Demirbaş. “The Effect Of Financial Literacy On Participation In Investment Markets: A Study On University of Health Sciences Students.” Journal of Economic Policy Researches, vol. 11, no. 2, 2024, pp. 204-225. [Database Container], https://doi.org/10.26650/JEPR1406361


Vancouver

Sancak B, Demirbaş D. The Effect Of Financial Literacy On Participation In Investment Markets: A Study On University of Health Sciences Students. Journal of Economic Policy Researches [Internet]. 24 Nov. 2024 [cited 24 Nov. 2024];11(2):204-225. Available from: https://doi.org/10.26650/JEPR1406361 doi: 10.26650/JEPR1406361


ISNAD

Sancak, Barış - Demirbaş, Dilek. “The Effect Of Financial Literacy On Participation In Investment Markets: A Study On University of Health Sciences Students”. Journal of Economic Policy Researches 11/2 (Nov. 2024): 204-225. https://doi.org/10.26650/JEPR1406361



TIMELINE


Submitted18.12.2023
Accepted05.06.2024
Published Online13.08.2024

LICENCE


Attribution-NonCommercial (CC BY-NC)

This license lets others remix, tweak, and build upon your work non-commercially, and although their new works must also acknowledge you and be non-commercial, they don’t have to license their derivative works on the same terms.


SHARE




Istanbul University Press aims to contribute to the dissemination of ever growing scientific knowledge through publication of high quality scientific journals and books in accordance with the international publishing standards and ethics. Istanbul University Press follows an open access, non-commercial, scholarly publishing.