Ali Osman Oztop|Ezgi Kuyu
Influnce of socio-demographic characteristics, financial literacy and mood on financial risk tolerance
Mu?la University|Mu?la University
purposerisk inherent element kind financial investment instrumentsthe aim study determine factors affecting financial risk tolerance individualsadditionally study analyses role mood financial risk tolerancedata methodologydata collected using survey questionnaire588 questionnaires completed used analysisthis study employs ordered logit model olm validate assess proposed research modelresultsaccording results study statistically positive significant relationship positive emotional state age financial risk toleranceon hand significant relationship gender income children financial literacy financial risk tolerancethe results study indicate moment decision making important risk tolerance individuals affected positive emotional state well age conclusionthis study shows financial knowledge positive mood strong determinants financial risk tolerancesurprisingly relation gender income level children financial literacy level dependent variable financial risk tolerance levelfinancial risk tolerance shapes financial decision making process influenced individuals biopsychosocial environmental factors rather rational choice theory