Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/309928 
Erscheinungsjahr: 
2023
Quellenangabe: 
[Journal:] International Review of Economics [ISSN:] 1863-4613 [Volume:] 71 [Issue:] 1 [Publisher:] Springer [Place:] Berlin, Heidelberg [Year:] 2023 [Pages:] 19-45
Verlag: 
Springer, Berlin, Heidelberg
Zusammenfassung: 
Our study contributes to a better understanding of the relationship between financial literacy and households' investments in risky assets. We estimate a structural equation model with data from the Panel on Household Finances of the German central bank. Our results show that although households' net wealth is the dominant driver of investments in risky assets, financial literacy plays a remarkable role. Financial literacy has an indirectly positive influence on participation in the financial market. The higher the financial literacy, the lower is the risk aversion. The lower the risk aversion, the higher is the participation in the financial market.
Schlagwörter: 
Financial markets participation
Risky investments
Personal finance
Household finance
JEL: 
D14
D81
D91
G11
G41
G51
Persistent Identifier der Erstveröffentlichung: 
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Dokumentart: 
Article
Dokumentversion: 
Published Version

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