TABLE 7.

Discriminant validity and correlations.

Constructs	Money avoidance	Money worship	Money status	Money vigilance	Stock market participation	Risk attitudes	Financial self-efficacy	Financial knowledge
Money avoidance	0.74
Money worship	0.67**	0.83
Money status	0.66**	0.67**	0.81
Money vigilance	0.54**	0.56**	0.64**	0.84
Stock market participation	0.50**	0.40**	0.55**	0.47**	0.85
Risk attitudes	0.42**	0.30**	0.50**	0.47**	0.36**	0.85
Financial self-efficacy	0.33**	0.35**	0.38**	0.31**	0.41**	0.36**	0.85
Financial knowledge	0.39**	0.40**	0.31**	0.45**	0.52**	0.43**	0.39**	0.83
Mean	3.23	3.38	3.23	3.49	3.35	3.50	4.26	4.17
SD	0.68	0.65	0.64	0.52	0.83	0.67	0.65	0.85

Source: Authors calculations. The values in the diagonal are the square root of the AVE, and the off-diagonal values are the correlations among variables. The discriminant validity is achieved when the diagonal values are higher than the off-diagonal values. **Correlation is significant at 0.01 level (2-tailed). Bold values are the values in the diagonal are the square root of the AVE.