기초 및 심화 금융이해력 수준에 따른 금융자산 보유의 다양성

This paper investigates the effect of financial literacy on the number of financial assets individual possesses. We construct basic and advanced financial literacy scores, and analyze the relation between financial literacy and the number of financial assets investors hold through the analysis of the data of 2,530 respondents in 2014 Fund Investor Survey conducted by Korea Financial Investors Protection Foundation. This survey was conducted on 2,530 persons aged 25~64, who live in Seoul, five metropolitan cites and metropolitan new towns. In this research, to compare basic financial literacy and advance financial literacy, the analysis is carried out for basic and advance financial literacy respectively. We show basic financial literacy score was higher than advanced financial literacy score. The advanced financial literacy effects were greater on holding of a variety of financial assets than basic financial literacy. The research also illustrated that the effect of financial literacy differed by the types of financial assets.