The Effect of Financial Knowledge on Financial Behavioral Intention to Invest: Mediating Role of Risk Perception and Attitude

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Dr. Muhammad Asad Khan, Dr. Naveed Hussain Shah, Dr. Arif Hussain, Dr. Jawad Hussain, Muhammad Khan, Azhar Khan


This study investigated the influence of financial knowledge on the behavioral intention to invest in the presence of risk perception and attitude toward investment as a mediators in a serial mediation, while exploring the complication of decision making regarding financial matter among Pakistanis’ adults. The study divided financial knowledge into objective or actual and subjective or self-rated knowledge. Data were collected through questionnaires from the 400 adults. The results of the study demonstrates a significant mediating effect of perception toward risk and attitude toward investment in the association between knowledge of finance and behavioral intention to invest. In decision making process, the importance of financial knowledge, the complexity existed in the relationship of knowledge and behavior are also explained by the study in the presence of risk and attitude.

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