Financial Literacy and Its Impact on Investment Decisions in Nigeria: a Theoretical Perspective
Loading...
Date
2017-11
Authors
Malgit, Amos Akims
Jagongo, Ambrose
Journal Title
Journal ISSN
Volume Title
Publisher
Abstract
Over the years financial literacy has gain prominence in the field of investment all over the world. This is
attributed to its importance in investment decision making. This study sought to explore the theoretical
perspective of financial literacy and its impact on investment decisions in Nigeria. Decision theory, prospect
theory and theory of mental accounting were adopted for the study. These theories provided more insight on
the impact of financial literacy on investment decisions. The study is of the view that financial literacy of
individuals positively impacts on their investment decisions. Therefore, successful investment decisions
depend on the level of financial literacy of investors.
Description
Research article
Keywords
Financial Literacy, Investment Decisions, Decision theory, Prospect Theory and Theory of Mental Accounting
Citation
International Journal of Scientific Research and Innovative Technology, Vol. 4 No. 11; November 2017