 When financial literacy meets textual analysis: A conceptual reviewXiao Li Journal of Behavioral and Experimental Finance, 2020, vol. 28, issue C Abstract: Financial Literacy plays a crucial role in individuals’ decision-making process. Existing studies have shown that lower level of financial literacy lead to irrational financial decision on investments, pension funds as well as savings and debts. While financial literacy is difficult to measure referring to its qualitative nature, constructing appropriate measurement for financial literacy is vital for both market professionals as well as policy makers. This study focuses on reviewing the measurements of financial literacy commonly used in current literature as well as the corresponding limitations. Then, the study surveys on the recent development and applications of textual analysis in finance domains, through which proposes future directions that textual analysis and financial literacy may merge for the purposes of better understanding about financial literacy as well as further developing effective schemes to improve investors’ financial literacy. Keywords: Financial literacy; Textual analysis; Financial decision-making process; Machine learning; Survey-based measurements (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eee:beexfi:v:28:y:2020:i:c:s2214635020303294 DOI: 10.1016/j.jbef.2020.100402 Access Statistics for this article Journal of Behavioral and Experimental Finance is currently edited by Michael Dowling and Jürgen Huber More articles in Journal of Behavioral and Experimental Finance from Elsevier |
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