Table 16. Results of ordinal regression... | Emerald Publishing

Table 16.

Results of ordinal regression for market bias

χ² = 18.412 P = 0.031	Estimate	Std. error	Wald	Sig.
Explained variable
Market bias = 1	−3.585	1.447	6.138	0.013
Market bias = 2	−3.286	1.445	5.172	0.023
Explanatory variable
Financial literacy score	−0.078	0.034	5.360	0.021**
Gender	−0.411	0.249	2.725	0.099*
Age group	−0.291	0.264	1.214	0.270
Education	−0.430	0.275	2.447	0.118
Area of specialization	−0.481	0.419	1.316	0.251
Average income	0.284	0.148	3.691	0.055*
Main source of information	0.336	0.244	1.899	0.168
Preferred investment	0.014	0.145	0.009	0.925
Frequency of information	−0.721	0.772	0.871	0.351

χ² = 18.412P = 0.031	Estimate	Std. error	Wald	Sig.
Explained variable
Market bias = 1	−3.585	1.447	6.138	0.013
Market bias = 2	−3.286	1.445	5.172	0.023
Explanatory variable
Financial literacy score	−0.078	0.034	5.360	0.021**
Gender	−0.411	0.249	2.725	0.099*
Age group	−0.291	0.264	1.214	0.270
Education	−0.430	0.275	2.447	0.118
Area of specialization	−0.481	0.419	1.316	0.251
Average income	0.284	0.148	3.691	0.055*
Main source of information	0.336	0.244	1.899	0.168
Preferred investment	0.014	0.145	0.009	0.925
Frequency of information	−0.721	0.772	0.871	0.351

Notes: *p ≤ 0.01;

**p ≤ 0.05

Source: Author calculations based on primary data