Modeling the factors affecting financial literacy using structural equations

Document Type : Research Paper


Department of Accounting, Bushehr Branch, Islamic Azad University, Bushehr, Iran


The purpose of this research is to provide a model for measuring financial literacy in the capital market of Iran. The statistical population of this research, including the qualitative part, the intended statistical population is made up of experts, and 17 people were interviewed in a targeted manner. Also, in the quantitative part of the statistical community, there are managers, analysts and financial traders of the stock exchange in Tehran province, which was determined by the simple random method and the Cochran formula, with a sample size of 280 people. A researcher-made questionnaire was used to collect data. Validity was confirmed by using the content method and reliability with Cronbach's alpha. In the qualitative part, the dimensions of the model were identified by using the foundation data approach. In the quantitative part, confirmatory factor analysis and structural equations were used to quantify the model and rank the standards. Lisrel software was used to analyze the data. The results showed that the dimensions of the model include demographic components, economic skills, social components, educational components, investment management, basic financial knowledge, advanced financial knowledge, psychological components, technological, and cultural components, government laws, economic components, financial behavior, financial attitude, organizational learning, financial skill, financial management and financial results. The results of the research hypothesis test show the confirmation of the mentioned model.


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Volume 14, Issue 9
September 2023
Pages 305-316
  • Receive Date: 07 October 2022
  • Revise Date: 14 December 2022
  • Accept Date: 20 December 2022