FINANCIAL LITERACY IN INVESTING: INTERACTIVE METHODS FOR BACHELOR’S PROGRAMS
Novosibirsk State University (RUSSIAN FEDERATION)
About this paper:
Conference name: 15th annual International Conference of Education, Research and Innovation
Dates: 7-9 November, 2022
Location: Seville, Spain
Abstract:Financial literacy in investing is a topical theme due to a boom in the private investment market and the fact that young people have considerably low financial literacy levels. Moreover, we expect that the result of investment of a first-time investor strongly depends on a number of social, economic, and behavioral factors.
The main goal of our investigation is to find an appropriate way to develop some useful recommendations concerning investments for Bachelor students which are based on the results of performing an interactive task.
The object of our investigation is the data on the Bachelor students’ investment decisions that they made during their academic course on Financial Markets and Financial Institutions.
In order to perform our investigation we
1) analyzed the research on behavior of the first-time investors and traders;
2) developed the interactive task for the students who have to form an investment portfolio;
3) put forward hypotheses concerning the dependence of investment results on the economic situation and such factors as students' age, gender, and field of studies;
4) analyzed the results of the interactive task for the period of 2020 – 2022;
5) tested the validity of our hypotheses and developed the list of methodological recommendations.
The result of our investigation is the list of methodological recommendations that take into consideration the following issues:
1) the importance of the investor's attitude to risk;
2) the significance of such factors as age, gender, field of studies and academic performance;
3) the weak influence of the current economic situation.
Keywords: Financial literacy, investments’ behaviour, Bachelor’s program.