Financial Literacy Among Investors: Theory and Critical Review of Literature
International Journal of Research in Commerce, Economics & Management, Volume No. 5, Issue No. 4, 2015
13 Pages Posted: 2 Dec 2015
Date Written: April 1, 2015
Financial Literacy means knowledge of basic economic and financial concepts, as well as the ability to use that knowledge and other financial skills to manage financial resources effectively for a lifetime of financial comfort. In this paper, an attempt is made to examine the burning issue of “financial literacy among investors,” from multiple perspectives. Accordingly the existing literature on the subject has been reviewed and critically analyzed on various bases i.e., definitions developed, importance elucidated, determinants identified, demographics studied, impact of financial education and various geographical locations covered. To conclude, it can be said that the eminent area of financial literacy holds many unexplored dimensions which researchers can take up in future.
Keywords: Financial Literacy, Financial Education, Investors, Cognitive Ability
JEL Classification: D14, G02, G20
Suggested Citation: Suggested Citation