A Study on the Influence of Financial Literacy and Psychological Factors on Financial Product Investment Attitude*

초록

This study empirically examines the impact of financial literacy and psychological factors on financial product investment attitudes. In this study, financial literacy is measured by two dimensions: financial knowledge and investment knowledge. The psychological factors measured in this study are self-efficacy and self-superiority, based on social cognitive theory. To investigate the effects of these two sets of variables, a survey was conducted targeting individuals aged 20 to 40. A total of 194 participants took part in the survey. The analysis of the research results, conducted through regression analysis, showed that financial knowledge did not emerge as a significant variable in influencing financial product investment attitudes. On the other hand, investment knowledge was found to have a significant impact on financial product investment attitudes. Among the psychological factors, self-superiority did not emerge as a significant variable, whereas self-efficacy significantly influenced financial product investment attitudes. The findings of this study suggest that investment knowledge, which measures concrete knowledge about financial products, is associated with a more aggressive investment propensity, as individuals with higher objective investment knowledge are more likely to exhibit a proactive investment behavior. In terms of psychological aspects, individuals with higher self-efficacy, meaning greater confidence in their ability to accomplish tasks or goals, are more likely to opt for riskier investment products.

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