Written By: Ronald P. Volpe, Joseph E. Kotel and Haiyang Chen

This study surveyed 530 online investors to examine their investment literacy and the relationship between the literacy and online investor characteristics. Online investors answered about 50% of questions correctly. Investors 50 years of age or older were more knowledgeable than those who are younger. Women had lower levels of investment knowledge than men. Investors with graduate degrees were more knowledgeable than those with some high school or college education. Those who traded online were more knowledgeable. The results of this survey indicate that online investors should improve their knowledge about basic investment concepts and tools. Keywords: Investment literacy, Investing, Internet, Financial literacy

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