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Financial Literacy, Financial Advice, and Stock Market Participation: Evidence From Malaysia

Financial Literacy, Financial Advice, and Stock Market Participation: Evidence From Malaysia The study examined the influence of financial literacy and financial advice on individuals’ stock market participation in Malaysia. Using survey data from 216 individuals aged 18 years old and above, this study revealed that both financial literacy and financial advice were positively associated with the likelihood of participating in the stock market. Individuals with higher financial literacy, especially advanced financial literacy, were more likely to participate in the stock market. Those who sought advice from financial advisors were also more likely to invest in the stock market. The findings underscore intervention opportunities for regulators, educators and financial advisors in promoting stock market participation in emerging countries. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Financial Counseling and Planning Springer Publishing

Financial Literacy, Financial Advice, and Stock Market Participation: Evidence From Malaysia

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Publisher
Springer Publishing
Copyright
© 2022 Springer Publishing Company
ISSN
1052-3073
eISSN
1947-7910
DOI
10.1891/jfcp-2021-0011
Publisher site
See Article on Publisher Site

Abstract

The study examined the influence of financial literacy and financial advice on individuals’ stock market participation in Malaysia. Using survey data from 216 individuals aged 18 years old and above, this study revealed that both financial literacy and financial advice were positively associated with the likelihood of participating in the stock market. Individuals with higher financial literacy, especially advanced financial literacy, were more likely to participate in the stock market. Those who sought advice from financial advisors were also more likely to invest in the stock market. The findings underscore intervention opportunities for regulators, educators and financial advisors in promoting stock market participation in emerging countries.

Journal

Journal of Financial Counseling and PlanningSpringer Publishing

Published: Jul 8, 2022

References