Role of Gender in Predicting Determinant of Financial Risk Tolerance

Abstract

This research was conducted to determine whether the determinants of financial risk tolerance varied by gender or whether the same factors influenced the risk-taking capacities of both genders. This study utilised personality types (Type-A and Type-B), financial literacy, and six demographic parameters, including marital status, age, education, income, occupation, and the number of dependents, as independent variables, and gender as a dividing variable. In order to conduct this study, information was gathered from 671 investors. The financial risk tolerance of male investors was determined by six out of eight independent factors (personality type, financial literacy, marital status, income, occupation, and the number of dependents). However, just four factors (personality type, financial literacy, marital status, and income) have a substantial impact on the financial risk tolerance of female investors.

The Evolution of Financial Literacy Research: A Bibliometric Analysis of Trends and Patterns

“…The cultural context should be taken into account and gender equality should be promoted in interventions to improve women's financial literacy . Instead of just emphasizing women's financial literacy education, it is imperative to address cultural norms and beliefs (Thanki et al, 2022). Future studies can examine the moderating effect of gender on the link between financial risk tolerance and numerous parameters (Cupák et al, 2021;Okamoto and Komamura, 2021;Struckell et al, 2022).…”