BB & K Model: Association between financial aspect of personality, Financial attitude and financial literacy

Abstract

The objective of the study was to test the association between financial aspect of personality, financial attitude and financial literacy. Structured questionnaire tool has been used in the study. 400 questionnaires were distributed and total 300 valid responses have been collected from investors, and advisors trading in stock market, national savings mutual funds and brokerage houses. Statistical techniques like descriptive analysis, reliability, correlation analysis, regression analysis and Principal component analysis test used. For testing hypotheses used chi-square test. The results showed that significant positive association between financial attitude and financial personality types according to Bailard, Biehl &Kaiser model 1986. The study also demonstrated that impact of financial attitude and literacy on financial personality type according to BB&K model. Keywords: Financial personality, Financial attitude, Financial literacy, Investors, Adventurer, Celebrity, Individualists, Guardian, Straight arrows, Bailard, Biehl and Kaiser Model.