Study of Financial Literacy and Interpersonal Influence on Self-Evaluation Bias-An Empirical Analysis with Chinese Sample

Xiaoyuan Chu, Yuan Li and Jing Han

International Journal of Social Science Studies, 2015, vol. 3, issue 6, 226-230

Abstract: Based on the theoretical analysis, with first-hand data collection and using multiple regression models, this study explored the relationship between financial literacy, interpersonal influence and self-evaluation bias and figured out interactive effect of financial literacy, interpersonal influence on self-evaluation bias. We draw on the following conclusions: (1) Three financial literacy factors (sophisticated financial literacy, basic financial literacy and numeracy) entered into the regression equation on self-evaluation bias, with a predictive power of 14.8%. (2) The interaction term of financial literacy and coworkers/classmates¡¯ influence can negatively predict self-evaluation bias. (3) The interaction term of financial literacy and family members¡¯ influence can negatively predict self-evaluation bias.

Keywords: financial literacy; interpersonal influence; self-evaluation bias; interaction effect (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:rfa:journl:v:3:y:2015:i:5:p:226-230

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