Please use this identifier to cite or link to this item: http://dspace.iitrpr.ac.in:8080/xmlui/handle/123456789/1503
Title: Does financial literacy affect the value of financial advice? a contingent valuation approach
Authors: Chauhan, Y.
Dey, D.K.
Keywords: Willingness to pay
Financial literate
Financial advice
Mutual funds
Household finance
Issue Date: 9-Mar-2020
Abstract: The paper examines the determinants of investors’ willingness to pay (WTP) for suitable advice. We use contingent valuation, a method frequently used to estimate the value of non-market goods and services, with a unique survey data to estimate WTP for suitable advice. We find that investors with a high level of financial literacy recognize the value of financial advice; therefore, they have a higher WTP. These investors are also less likely to consult with a financial adviser if the advisory fee exceeds investors’ maximum WTP. We also suggest the policy implications of our empirical results.
URI: http://localhost:8080/xmlui/handle/123456789/1503
Appears in Collections:Year-2020

Files in This Item:
File Description SizeFormat 
Full Text.pdf470.38 kBAdobe PDFView/Open    Request a copy


Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.