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Impact of Financial Literacy on the Risk Tolerance Behavior of Females Working in the Unorganized Sector

Impact of Financial Literacy on the Risk Tolerance Behavior of Females Working in the Unorganized Sector

Anushree Srivastava, Neha Yadav, Anuradha Maurya
Copyright: © 2023 |Pages: 14
ISBN13: 9781668488102|ISBN10: 1668488108|ISBN13 Softcover: 9781668488119|EISBN13: 9781668488126
DOI: 10.4018/978-1-6684-8810-2.ch007
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MLA

Srivastava, Anushree, et al. "Impact of Financial Literacy on the Risk Tolerance Behavior of Females Working in the Unorganized Sector." Sustainable Growth and Global Social Development in Competitive Economies, edited by Andrei Jean Vasile, et al., IGI Global, 2023, pp. 122-135. https://doi.org/10.4018/978-1-6684-8810-2.ch007

APA

Srivastava, A., Yadav, N., & Maurya, A. (2023). Impact of Financial Literacy on the Risk Tolerance Behavior of Females Working in the Unorganized Sector. In A. Jean Vasile, M. Vasić, & P. Vukovic (Eds.), Sustainable Growth and Global Social Development in Competitive Economies (pp. 122-135). IGI Global. https://doi.org/10.4018/978-1-6684-8810-2.ch007

Chicago

Srivastava, Anushree, Neha Yadav, and Anuradha Maurya. "Impact of Financial Literacy on the Risk Tolerance Behavior of Females Working in the Unorganized Sector." In Sustainable Growth and Global Social Development in Competitive Economies, edited by Andrei Jean Vasile, Mile Vasić, and Predrag Vukovic, 122-135. Hershey, PA: IGI Global, 2023. https://doi.org/10.4018/978-1-6684-8810-2.ch007

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Abstract

Risk and return are the two terms which are used while making investments. Financial literacy is an important indicator of measuring risk tolerance level as it helps in making sound financial decisions and planned investment choices. Financial literacy not only broadens the scope of investment choices and financial planning but also helps in the process of rotating money and diversification of funds. This study helps to explore the impact of financial literacy on risk tolerance behavior of females. Risk tolerance is an important indicator which helps in looking at the amount of surplus funds with the people, the preferred tool of investment, and how well they are managing and diversifying funds. As per the authors, 200 females working in the unorganized sector were surveyed in Uttar Pradesh region. Data was collected through a questionnaire which was designed to test the financial literacy, financial prudence, and investment pattern of females and how the access to financial products, services, and wealth impacts the confidence and risk-taking aptitude of females.

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