TABLE 2.
Construct, measurement items, and factor loadings.
| Constructs | Measurement items | Factor loadings |
| Stock market participation (SMP) | Stock markets are unpredictable, that is why I would not invest in stocks. | 0.828 |
| I would invest a larger sum of money in stocks. | 0.772 | |
| The uncertainty of whether the markets will rise or fall keeps me from buying stocks. | 0.606 | |
| When I hear the word “stocks,” the term “possible loss” comes to mind immediately. | 0.743 | |
| I am willing to take financial risks in order to substantially increase my assets. | 0.721 | |
| In money matters, I tend to be willing to take risks. | 0.757 | |
| How many types of stocks (e.g., agriculture, cement, textile sectors) do you own on average? (1) Less than 2 (2) 2–4 (3) 5–7 (4) 8–10 (5) More than 10 | 0.768 | |
| How much is your total investment in stock market annually? (1) Less than 100,000 (2) 100,000–300,000 (3) 300,000–500,000 (4) 500,000–700,000 (5) More than 700,000 | 0.599 | |
| Risk attitudes (RA) | Taking risks makes life more fun. | 0.688 |
| My friends would say that I am a risk taker. | 0.701 | |
| I enjoy taking risks in most aspects of my life. | 0.720 | |
| I would take a risk even if it meant I might get hurt. | 0.876 | |
| Taking risks is an important part of my life. | 0.694 | |
| I commonly make risky decisions. | 0.681 | |
| I am a believer of taking chances. | 0.862 | |
| I am attracted, rather than scared, by risk. | 0.554 | |
| Financial self-efficacy (FSE) | It is hard to stick to my spending plan when unexpected expenses arise. | 0.771 |
| It is challenging to make progress toward my financial goals. | 0.850 | |
| When unexpected expenses occur, I usually have to use credit. | 0.669 | |
| When faced with a financial challenge, I have a hard time figuring out a solution. | 0.706 | |
| I lack confidence in my ability to manage my finances. | 0.588 | |
| I worry about running out of money in retirement. | 0.760 | |
| Financial knowledge (FK) | Interest rates, finance charges and credit terms. | 0.810 |
| Managing finances | 0.815 | |
| Investing money | 0.624 | |
| Debt card, credit card, cheque book, taxes. | 0.622 | |
| Common stocks, preferred shares, bonds, govt. securities | 0.525 | |
| Stock exchanges, mutual funds, insurance companies, microfinance institutions. | 0.777 |