Financial literacy overconfidence and investment fraud victimization

Xiao Xiao, Xiangyi Li and Yi Zhou

Economics Letters, 2022, vol. 212, issue C

Abstract: This study uses the data of a nationally representative survey in China to investigate the role of financial literacy overconfidence in investment fraud victimization. The study finds that male, wealthy, and educated respondents tend to be more confident about their financial knowledge. Moreover, overconfident respondents are more likely to believe that the abnormally high returns claimed in two hypothetical investment opportunities are attainable.

Keywords: Financial literacy; Overconfidence; Investment fraud victimization; Household finance (search for similar items in EconPapers)
JEL-codes: D91 G41 G53 (search for similar items in EconPapers)
Date: 2022
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:212:y:2022:i:c:s0165176522000209

DOI: 10.1016/j.econlet.2022.110308

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