Promoting financial literacy through a digital platform: A pilot study in Luxembourg

Jian Li and Alexis Meyer‐Cirkel

International Journal of Finance & Economics, 2021, vol. 26, issue 1, 73-87

Abstract: This paper investigates the dynamics of individual portfolios in a unique innovation test conducted through a digital financial literacy platform—saalt. We conduct the test at the University of Luxembourg and ask students to construct their own financial portfolios, choosing from among 500+ financial assets; students could adjust their portfolio weights at any time using their registered accounts. Moreover, we stimulate the sharing of portfolio information among students through class presentations and Facebook postings. We find relatively sophisticated diversification strategies and clear momentum‐chasing behaviour for winning stocks; we also discover rapid convergence of individual portfolios to the provided benchmark portfolios. Finally, we find significant peer influences in the test. In general, financial literacy spreads rapidly among students.

Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (5)

Downloads: (external link)
https://doi.org/10.1002/ijfe.1777

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:wly:ijfiec:v:26:y:2021:i:1:p:73-87

Ordering information: This journal article can be ordered from
http://jws-edcv.wile ... PRINT_ISSN=1076-9307

Access Statistics for this article

International Journal of Finance & Economics is currently edited by Mark P. Taylor, Keith Cuthbertson and Michael P. Dooley

More articles in International Journal of Finance & Economics from John Wiley & Sons, Ltd.
Bibliographic data for series maintained by Wiley Content Delivery ().