DEMOGRAPHIC DETERMINANTS OF FINANCIAL LITERACY AND INVESTMENT BEHAVIOUR: EVIDENCE FROM WOMEN ACADEMICIANS OF GOVT COLLEGES IN KERALA

Abstract

Financial literacy is an important factor that affects financial behaviour and investments of individuals. In the study, the demographic determinants of financial literacy and investment behaviour of women academicians from government college of Kerala is discussed. The research approach adopted was descriptive with structured questionnaire as the research instrument which covered 384 respondents. The data was analyzed using Multiple Regression Analysis, Hierarchical Cluster Analysis and Mediation Analysis. Results indicated that the demographic factors, including age, education level, income and employment, play a very significant role in Financial literacy. Based on the characteristics of investment behaviours and the financial literacy, the study also revealed that the respondents were divided into different groups. Additionally, financial literacy was also found to have significant mediation effects between the demographic factors and investment behaviour. It is concluded that Improving Financial literacy can increase investment decision making and therefore financial empowerment of female academicians.