Does financial literacy mitigate gender differences in investment behavioral bias?

Yuan-Lin Hsu, Hung-Ling Chen, Po-Kai Huang and Wan-Yu Lin

Finance Research Letters, 2021, vol. 41, issue C

Abstract: This study investigates gender differences in a number of behavioral biases using an online survey of individual investors aged eighteen and over, each of whom has at least one year of stock trading experience in Taiwan. The results reveal that women are significantly more regret averse than men, whereas men have significantly stronger self-attribution, illusion of control, and confirmation biases than women. However, among those who have a high level of financial literacy, the prevalence of behavioral biases is similar across both genders. This suggests that financial literacy mitigates gender differences in behavioral bias.

Keywords: Behavioral bias; Gender difference; Financial literacy; Individual investor (search for similar items in EconPapers)
Date: 2021
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Citations: View citations in EconPapers (7)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:41:y:2021:i:c:s1544612320316032

DOI: 10.1016/j.frl.2020.101789

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