India is a developing country and is amongst the world's most efficient financial markets in terms of technology, regulation and systems. It has one of the highest savings rate in the world. While the saving rate in India is good but where these savings are invested is a cause of concern. The majority of Indian households do not use modern financial market instruments. Improved levels of financial literacy of the citizens is required in order to convert India into a nation of investors from a nation of savers. It is only through financial education that people improve their understanding of the financial products and services and ensure a lifetime of financial well-being. The 'catch them young' strategy for financial education initiatives undertaken in India seeks to be an effective platform for disseminating financial education by creating awareness among the young student community across the country. Therefore, the current study is an attempt to examine the level of financial literacy of university students and to find out the impact of various demographic variables on the financial literacy of these students. For the purpose of the current study, data were collected from primary sources on the basis of a questionnaire designed by Lusardi, Mitchell & Curto (2006). To analyse the collected data, descriptive statistics, independent sample t-test and one-way analysis of variance (ANOVA) have been employed. The study concluded that the financial literacy level of the university students with a commerce and management background is fairly good and has nothing to do with their demographic profile. In fact, it is the curriculum that is helpful in addressing the issue of financial literacy among students. Therefore, introducing financial and economic concepts in the courses (interdisciplinary courses) is needed in order to enable the students of various disciplines to deal in financial products and services.

Women constitute half of the world's population. The participation of women in the economy is important in order to enhance and contribute towards raising the economic potential of a country. Long-standing inequalities have prevented women from participating in and benefiting from stock markets. They face discriminatory practices which prevent them from seeking entry into certain occupations, especially male-dominated ones. In the present study, the diverse literature available worldwide on the stock market participation of women has been explored and analyzed in terms of their objectives, research methodology, sample, respondents and the impediments faced by women while investing in the stock market. The article demonstrates that there are several impediments that prevent women from investing in the stock market and suggests that besides financial literacy programmes, changes in attitude and behaviour of the society as well as women are needed in order to improve their participation in the stock market. KeywordsWomen, stock market participation, impediments Management and Labour Studies 37(4) 283-293

Today’s age is the age of the modern woman. Women these days have become more successful than ever before. While the success of women has translated into more wealth creation, it has also translated into additional challenges related to their everyday family life and most importantly related to their spending and investment decisions. Therefore, an attempt has been made to identify the factors inhibiting women from participating in the stock market in India and to find out the relative importance of these factors in determining the stock market participation among women. The data for the study were collected from primary sources using a pre-tested, well-structured questionnaire. Factor Analysis and Binary Logistic Regression have been used to analyze the collected data. The findings of the study revealed that financial hindrances, personal constraints, attitudinal constraints and gender stereotypes are reasons that inhibit women from investing in the stock market. Among the factors identified, financial hindrances were found to have the highest influence as a reason for lower participation of women. The article suggests that the policy makers need to design programs for the economic development of women because it is primarily on account of financial hindrances that women lag behind when it comes to investing in the stock market.

Purpose The paper aims to attempt to identify the attributes that women look for in their financial advisor and to examine if the choice of attributes of a financial advisor among women investors in Punjab is the same across demographics. The understanding of the attributes that women want in their financial advisor will help the financial advisors to be mindful of the opportunities and the challenges they have to face while working with women investors. Studying the impact of demographics on the choice of the investment advisor would enable the service providers to provide women with services relevant to their unique and individual situations. Design/methodology/approach A pre-tested, well-structured questionnaire was constructed and administered personally, and the responses of 200 women investors were analyzed. The sum of the ranks assigned by women to various attributes determining the choice of a financial advisor was used to find out the most preferred attribute on the basis of which women choose their financial advisor. The Kruskal Wallis test was used to analyze the impact of demographics on the choice of the respondents. Findings The results of the study brought out that the friendliness of the financial advisor, and the quality of advice provided by them are preferred attributes determining the choice of a financial advisor. Along with this, the results also state that the preference for the attribute friendliness and quality of advice is not the same across age groups. The choice of attributes also varies according to the marital status of the respondents. Practical implications The current study will contribute toward a greater understanding of the attributes which are considered important by women while choosing their financial advisor. The study will help the financial advisors to cater to the needs of their women clients. Moreover, the study will also benefit women by bringing about a positive change in the attitude of the financial advisors in favor of them. The greater sensitization of the financial advisors toward their women clients would lead to greater stock market participation among women, thereby benefitting the society. Originality/value The paper is an attempt to identify the attributes that women look for in their financial advisor and to examine if the choice of attributes of a financial advisor among women investors in Punjab is the same across demographics or not. Therefore, the study contributes to the understanding of the investment behavior of women.

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