Investors' financial skill rests on two elements: 1) literacy, which is the financial knowledge itself and the skill … required to use the knowledge, and 2) rationality, which refers to the lack of major biases such as overconfidence. To estimate … the level of investors' knowledge and rationality, we administered an online survey to 1814 investors in Québec and …

measures of financial knowledge moderate the relationship between an investor’s financial risk tolerance and demographic … (IRT). Subjective financial knowledge (SFK) was positively associated with IRT. The relationship between gender and IRT was … moderated by SFK, whereas the relationship between IRT and age was moderated by objective financial knowledge (OFK). A positive …