The present research attempts to investigate relationship between financial literacy and satisfaction, with the specific emphasis on intervening moderating roles of investment decisions risk attitude. employs a structural equation modelling (SEM) methodology examine proposed associations, using survey data from subset individuals who have previously made regarding investments. results indicate ...

Rational investors perceive correctly the value of financial information. Investment in information is therefore rewarded with a higher Sharpe ratio. Overconfident investors overstate the quality of their own information, and thus attain a lower Sharpe ratio. We contrast the implications of the two models using a survey of customers of an Italian leading bank with portfolio data and measures of...

Miller (1977) emphasized that optimal corporate financial policy depends on the tax rates facing the firm as well as the tax treatment accorded bondand stock-holders. In equilibrium, firms will issue claims that are held by the full spectrum of investors, from tax-exempt institutional investors to heavily taxed individuals. However, dealers are tax neutral institutions that can buy corporate se...

XBRL has the ability to provide financial statements with improved data information quality (DIQ). Contextual and representational DIQ are relevant to perceptual and decision factors of nonprofessional investors when they interact with XBRL-based financial statements and make investment decisions. The author posits that XBRL-based financial statements with improved contextual and representation...