Financial Knowledge, Confidence, and Sustainable Financial Behavior

نویسندگان

چکیده

This paper analyzes the effect of financial knowledge and confidence in shaping individual investment choices, sustainable debt behavior, preferences for socially environmentally responsible companies. Exploiting data from “Italian Literacy Financial Competence Survey” (IACOFI) carried out by Bank Italy early 2020, we address potential endogeneity concerns order to investigate causal objective on behaviors. To this aim, perform endogenous probit regressions, using respondent’s long-term planning attitude, use information communication technology devices, peers as additional instrumental variables. Our main empirical findings show that exerts a positive significant market participation ethical Moreover, provide strong evidence about role biases In particular, overconfident individuals display higher probability making investments, experiencing losses due fraud, being over-indebted. Conversely, underconfident exhibit suboptimal but are less likely engage risky

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ژورنال

عنوان ژورنال: Sustainability

سال: 2021

ISSN: ['2071-1050']

DOI: https://doi.org/10.3390/su131910926