Analyzing the Influence of Self-Esteem and Financial Knowledge on the Financial Behavior (Case study: brokerage of real investors of Eghtesade Novin Bank)

Subject Areas : Journal of Investment Knowledge

Hamid Reza Yazdani ¹ ( assistant professor and faculty member of management and accounting, Farabi campus of Tehran university )
Habib Medikhani ² ( master of business management in finance, Farabi campus of University of Tehran, )
Dariush Ahmadi ³ ( master of business management in finance, Farabi campus of University of Tehran )
Amin Alivandi ⁴ ( Ph.D student of accounting and faculty member of Islamic Azad University of Fariden branch- department of accounting, )

Received: 2017-05-04 Accepted : 2017-09-01 Published : 2018-09-23

Keywords: Self-esteem, financial knowledge, Financial Behavior, structural equations,

Abstract :

A successful and reasonable financial behavior and return in the capital market require self-esteem and financial knowledge in financial decisions. This research studies the influence of self-esteem and financial knowledge on financial behavior in a sample of 251 members of real investors with an online trading brokerage code in Eghtesade Novin who deal in Tehran Stock Exchange at least twice a weak. It is a descriptive correlation research, and questionnaire has been used to gather data. Data analysis has been done using structural equation modeling in LISREL software. The results show that self-esteem has a positive and significant impact on the financial behavior and mental financial knowledge. In addition, the objective financial knowledge has a positive and significant impact on the mental financial knowledge, but it does not have a positive and significant impact on the financial behavior. As a mediator variable, mental financial knowledge has a positive and significant impact on the financial behavior.

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