Market Impact Analysis of Financial Literacy among A-Share Market Investors: An Agent-Based Model

Financial literacy has become increasingly crucial in today’s complex financial markets. This paper explores the impact of financial literacy on the stock market by establishing an artificial financial market that aligns with the characteristics of the Chinese A-share market using agent-based modeli...

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Authors: Zhou, Rongtian, Xiong, Xiong, Llacay Pintat, Bàrbara, Peffer, Gilbert
Format: article
Status:Published version
Publication Date:2023
Country:España
Institution:Universidad de Barcelona
Repository:Dipòsit Digital de la UB
OAI Identifier:oai:diposit.ub.edu:2445/212507
Online Access:https://hdl.handle.net/2445/212507
Access Level:Open access
Keyword:Alfabetització
Finances
Mercat financer
Literacy
Finance
Financial market
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spelling Market Impact Analysis of Financial Literacy among A-Share Market Investors: An Agent-Based ModelZhou, RongtianXiong, XiongLlacay Pintat, BàrbaraPeffer, GilbertAlfabetitzacióFinancesMercat financerLiteracyFinanceFinancial marketFinancial literacy has become increasingly crucial in today’s complex financial markets. This paper explores the impact of financial literacy on the stock market by establishing an artificial financial market that aligns with the characteristics of the Chinese A-share market using agent-based modeling. The study incorporates financial literacy into investors’ mixed beliefs and simulates their behavior in the market. The results show that improving individual investors’ financial literacy can improve market quality and investor performance, as well as reduce the unequal distribution of wealth to some extent. However, the phenomenon of speculative trading and irrational behavior in the market can pose potential risks that require regulatory measures. Thus, policy recommendations to improve individual investors’ financial literacy and establish corresponding regulatory measures are proposed.MDPI2023info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionapplication/pdfhttps://hdl.handle.net/2445/212507Articles publicats en revistes (Empresa)reponame:Dipòsit Digital de la UBinstname:Universidad de BarcelonaInglésReproducció del document publicat a: https://doi.org/10.3390/e25121602Entropy, 2023, vol. 25, num.12https://doi.org/10.3390/e25121602cc-by (c) Zhou, R, et al., 2023http://creativecommons.org/licenses/by/4.0/info:eu-repo/semantics/openAccessoai:diposit.ub.edu:2445/2125072026-05-27T06:46:51Z
dc.title.none.fl_str_mv Market Impact Analysis of Financial Literacy among A-Share Market Investors: An Agent-Based Model
title Market Impact Analysis of Financial Literacy among A-Share Market Investors: An Agent-Based Model
spellingShingle Market Impact Analysis of Financial Literacy among A-Share Market Investors: An Agent-Based Model
Zhou, Rongtian
Alfabetització
Finances
Mercat financer
Literacy
Finance
Financial market
title_short Market Impact Analysis of Financial Literacy among A-Share Market Investors: An Agent-Based Model
title_full Market Impact Analysis of Financial Literacy among A-Share Market Investors: An Agent-Based Model
title_fullStr Market Impact Analysis of Financial Literacy among A-Share Market Investors: An Agent-Based Model
title_full_unstemmed Market Impact Analysis of Financial Literacy among A-Share Market Investors: An Agent-Based Model
title_sort Market Impact Analysis of Financial Literacy among A-Share Market Investors: An Agent-Based Model
dc.creator.none.fl_str_mv Zhou, Rongtian
Xiong, Xiong
Llacay Pintat, Bàrbara
Peffer, Gilbert
author Zhou, Rongtian
author_facet Zhou, Rongtian
Xiong, Xiong
Llacay Pintat, Bàrbara
Peffer, Gilbert
author_role author
author2 Xiong, Xiong
Llacay Pintat, Bàrbara
Peffer, Gilbert
author2_role author
author
author
dc.subject.none.fl_str_mv Alfabetització
Finances
Mercat financer
Literacy
Finance
Financial market
topic Alfabetització
Finances
Mercat financer
Literacy
Finance
Financial market
description Financial literacy has become increasingly crucial in today’s complex financial markets. This paper explores the impact of financial literacy on the stock market by establishing an artificial financial market that aligns with the characteristics of the Chinese A-share market using agent-based modeling. The study incorporates financial literacy into investors’ mixed beliefs and simulates their behavior in the market. The results show that improving individual investors’ financial literacy can improve market quality and investor performance, as well as reduce the unequal distribution of wealth to some extent. However, the phenomenon of speculative trading and irrational behavior in the market can pose potential risks that require regulatory measures. Thus, policy recommendations to improve individual investors’ financial literacy and establish corresponding regulatory measures are proposed.
publishDate 2023
dc.date.none.fl_str_mv 2023
dc.type.none.fl_str_mv info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
format article
status_str publishedVersion
dc.identifier.none.fl_str_mv https://hdl.handle.net/2445/212507
url https://hdl.handle.net/2445/212507
dc.language.none.fl_str_mv Inglés
language_invalid_str_mv Inglés
dc.relation.none.fl_str_mv Reproducció del document publicat a: https://doi.org/10.3390/e25121602
Entropy, 2023, vol. 25, num.12
https://doi.org/10.3390/e25121602
dc.rights.none.fl_str_mv cc-by (c) Zhou, R, et al., 2023
http://creativecommons.org/licenses/by/4.0/
info:eu-repo/semantics/openAccess
rights_invalid_str_mv cc-by (c) Zhou, R, et al., 2023
http://creativecommons.org/licenses/by/4.0/
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv MDPI
publisher.none.fl_str_mv MDPI
dc.source.none.fl_str_mv Articles publicats en revistes (Empresa)
reponame:Dipòsit Digital de la UB
instname:Universidad de Barcelona
instname_str Universidad de Barcelona
reponame_str Dipòsit Digital de la UB
collection Dipòsit Digital de la UB
repository.name.fl_str_mv
repository.mail.fl_str_mv
_version_ 1869419720911880192
score 15.812429

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