Investors’ Levels of Financial Literacy and Cognitive Ability and Their Relationship with Psychological Illusions
Journal Title: Muhasebe ve Finansman Dergisi - Year 2015, Vol 17, Issue 66
Abstract
The aim of this research is to determine investors’ level of financial literacy and cognitive ability and to designate the relationships among financial literacy, cognitive abilities and psychological illusions. For this purpose, a survey study is conducted for measuring the level of financial literacy and cognitive abilities and their relationship with psychological illusions. According to the findings of the survey, investors’ cognitive ability and financial literacy levels are quite low compared to the levels of American, German and the Dutch investors. Similarly, in this context, investors are exposed to intense psychological illusions regardless of their level of cognitive ability and financial literacy.
Authors and Affiliations
Durmuş SEZER, Sezgin DEMİR
Keywords
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