Passive vs active robo-advisors and disposition effect. Moderating role of gender and financial literacy

Autor:	Nomeda Lisauskiene, Valdone Darskuviene, Mindaugas Butkus
Jazyk:	angličtina
Rok vydání:	2024
Předmět:	Robo-advisors disposition effect dual process theory financial literacy gender role C99 Public finance K4430-4675 Economic growth development planning HD72-88
Zdroj:	Baltic Journal of Economics, Vol 24, Iss 2, Pp 239-260 (2024)
Druh dokumentu:	article
ISSN:	1406099X 2334-4385 1406-099X
DOI:	10.1080/1406099X.2024.2422673
Popis:	The study examines links between automated advisory services and irrational individual investors’ behaviour based on dual-process theory. The study contributes to the literature on active vs. passive digital nudges in robo-advisors and the disposition effect. Self-reporting online experiment revealed that robo-advisors help investors to resolve cognitive dissonance, with passive robo-advisors being more efficient. We contribute by introducing and indicating the moderating role of financial literacy. Though moderating feminine gender role was not supported, the need for customized automated advisory services is highlighted. The results are important for individual welfare, as demographic shifts and evolving retirement systems transfer investment decisions to individuals.
Databáze:	Directory of Open Access Journals
Externí odkaz:	https://doaj.org/article/e1dd0e1e570a4ab9b8473c2719fcb497 Zobrazit plný text záznamu View record in DOAJ