%0 Journal Article
%T Advanced Financial Literacy of Malaysian Gen Y Investors and Its Consequences
%A Gerald Goh Guan Gan
%A Mohammad Tariqul Islam Khan
%A Siow-Hooi Tan
%J Margin: The Journal of Applied Economic Research
%@ 0973-8029
%D 2019
%R 10.1177/0973801018800085
%X This article presents the advanced financial literacy of Malaysian Gen Y investors and investigates whether literacy varies across demographics and ethnicity, and how financial literacy is related to investing decisions. In a survey-based study (N = 231) with the estimation of crosstab, ordered logistic regression and binary logistic regression, the results suggest that Gen Y investors display a medium level of financial literacy and that investors with certain demographic characteristics and ethnicity display a relatively higher level of financial literacy. Literacy items such as knowledge of stocks and bonds, functioning of the stock market, working of long-term bonds and mutual funds, and riskiness of bonds versus stocks are more closely related to investorsĄ¯ trading, risky share investment, willingness of risk-taking, stock market participation and perceived portfolio returns. The results imply a clear scope to improve Gen Y investorsĄ¯ financial literacy by concentrating on a certain socio-demographic groups and specific financial literacy items. JEL Classifications:D14, G11, I2
%K Generation Y investor
%K Financial literacy
%K Demography
%K Ethnicity
%K Investment
%K Malaysia
%U https://journals.sagepub.com/doi/full/10.1177/0973801018800085