Nosheen Rasool|Safi Ullah
Financial literacy and behavioural biases of individual investors: empirical evidence of Pakistan stock exchange
Government College University, Lahore|Government College University, Lahore
purpose financial literacy crucial element financial decisionmaking exerting significant influence behaviour individual investors making budgetary house financing stock investing retirement planning decisions purpose research determine relationship financial literacy behavioural biases individual investors pakistan designmethodologyapproach research paper sample 300 observations obtained questionnaires individual investors residing lahore invested pakistan stock exchange data obtained passed cronbachs alpha exploratory factor analysis efa hypothesis developed research tested pearsons chisquare ordinal regression analysis findings hypothesis testing research concluded negative association financial literacy behavioural biases individual investors means increase level financial literacy likelihood investor facing behavioural biases reduces also appeared male respondents financial literacy female respondents originalityvalue previous studies field finance identified different factors causing financial behaviour individual investor pakistan also focused level financial literacy pakistan studies emphasized crucial relationship financial literacy behavioural biases individual investors thus unique empirical analysis developed paper accentuated financial literacy factor mitigates behavioural biases individual investor