Maarten van Rooij|Annamaria Lusardi|Rob Alessie
Financial literacy and stock market participation
De Nederlandsche Bank|Network for Studies on Pensions, Aging and Retirement|Network for Studies on Pensions, Aging and Retirement|Dartmouth College|University of Groningen|Network for Studies on Pensions, Aging and Retirement|Tinbergen Institute
devised two special modules de nederlandsche bank dnb household survey measure financial literacy study relationship stock market participation find majority respondents display basic financial knowledge grasp concepts interest compounding inflation time value money however go beyond basic concepts many respondents know difference bonds stocks relationship bond prices interest rates basics risk diversification importantly find financial literacy affects financial decisionmaking low literacy much less likely invest stocks