Sun Weixiang|Md. Qamruzzaman|Rui Wang|Rajnish Kler
An empirical assessment of financial literacy and behavioral biases on investment decision: Fresh evidence from small investor perception
Macau University of Science and Technology|United International University|Nanjing Agricultural University|University of Delhi
enough financial literacy investor must able make intelligent investment choices hand heuristic bias framing effect cognitive illusions herd mentality variables contribute formation behavioral biases also known illogical conduct decisionmaking process current research looks specifically behavioral biases financial literacy influence investment choices particularly stock market investment research representative sample 450 individual investors evaluated structured questionnaire designed using likerts scale method elicit research variables data acquired analyzed using sem method according findings statistically significant link heuristic bias development behavioral bias decisionmaking nevertheless cognitive illusions herd mentality framing effect deleterious impact behavioral biases addition investors often adhere heuristic biases rather irrational strategies making investment judgments therefore individual investors financial literacy level greatly influences choices made investments stock market