Our experiments evaluate the role of information presentation in reducing violations of the Law of One Price in individual investor selection of index mutual funds. The results indicate that most individuals fail to minimize fees. However, individuals allocate nearly 27% (43%) more of their...

The youthful population of South Asia, holding the majority in the subregion, will also have a great share in the future alongside the risk of being not in education, employment, or training with a persisting gender gap. This makes it important to adopt a gender-responsive policy framework for...

This paper investigates the moderating effect of confidence on the gender gap in financial literacy based on a nationwide survey of German high school students. Two measures of confidence are applied while controlling for cognitive abilities and several independent variables. This study shows...

This paper examines the impact of financial literacy and financial inclusion on stock market participation in Ghana. It employs a sample of 1,966 respondents across the 10 regions of Ghana for the year 2018. We employ biprobit models to estimate the influence of financial literacy on financial...

Loan defaults continue to be a major challenge that confronts financial institutions in developing countries and this impedes their potential role in sustainable development. Given the enormity of loan defaults, policymakers have devoted much attention to the phenomenon by implementing...

Financial inclusion is one of the development priorities of the Ethiopian Government. However, factors, which might affect it are not explored adequately with appropriate methods. To examine the relationship between financial inclusion and its demand-side determinants, we applied a simple probit...

Quotients, ratios, are among the most applied tools for measuring performance of mutual funds and investment portfolios, the Jensen index being an exception to the general rule. In this paper, we show some problems that arise when quotients are applied, closely related to their statistical...

The main objective of this paper was to establish which behavioural finance biases are associated with a certain level of risk tolerance and investor personality. Furthermore, the study aimed to indicate how these behavioural finance biases can influence investment decisions. Since behavioural...

This paper derives a robust online equity trading algorithm that achieves the greatest possible percentage of the final wealth of the best pairs rebalancing rule in hindsight. A pairs rebalancing rule chooses some pair of stocks in the market and then perpetually executes rebalancing trades so...