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This research focuses on the financial literacy level, stock participation, and financial behavior among millennials in Indonesia.

Logit regression analysis is performed to analyze the relationship among tested variables. The weighted percentage analysis is also used to portray a response in relation to the sample of respondents. Such an analysis is widely used in Indonesia.

Findings suggest that for basic and advanced financial literacy level topics, millennials with higher education level and profession related to economy are the ones who have high basic financial literacy level. However, as respondents become older and/or get married, the basic financial literacy level tends to decrease. When the questions are advanced, the education level is statistically significant. If they have more available money to spend than others, then they tend to have a higher advanced financial literacy level. However, the advanced financial literacy level of female respondents who are older and/or have children tends to decrease. Subsequently, the relationship between financial literacy level and stock market participation is evident when millennials have a high basic and/or advanced financial literacy level, suggesting that they tend to participate in the stock market. Overconfident millennials or those who focus on learning economics also likely participate in the stock market.

This paper aims to show that market power exists in financial markets and analyze how spoofing is used by a high-frequency trader to build market power by taking advantage of both behavioral weaknesses of individual investors and microstructural loopholes of trading venues.

After showing that market power exists in the financial market, this paper centers around the question of how market power is constructed in the financial market. To sharpen the answer to the question, the paper compares the conditions needed for market power construction in the financial market with those needed in the goods market. The paper selects spoofing, the frequently used order-based tactic in high-frequency trading strategies, to analyze in detail how spoof orders can ignite herding with market power building as the essence. The Flash Crash that occurred in the New York Stock Exchange on May 6, 2010 provides an excellent case of market power construction exhibited in spoofing.

The behavioral mechanism of market power construction in the case of spoofing is perception alignment. It becomes effective when two necessary conditions are met: the spoof trader takes advantage of the incomplete order display set up by the exchange; and the behavioral weaknesses exhibited by numerous individual investors. In addition to these key conditions, this paper finds other ones for market power to be created in the financial market. They are easier, quicker, more secret, more flexible and less risky relative to the conditions for market power building in the goods market.

The detailed analysis points to the behavioral mechanism, i.e. perception alignment, and microstructural mechanism, i.e. incomplete order display, that could be responsive to regulation.

The originality of the findings is to uncover the mechanism of spoofing in taking advantage of behavioral biases of individual investors. The value is to gain more complete understanding of the essence of herding caused by spoofing.

Celebrity endorsement is a preferred marketing communication strategy adopted by business firms. The present study suggests theoretical underpinnings for investigating the effect of celebrity endorsement on individual investors' intentions to invest in the shares of companies. The study integrates marketing communication and behavioural finance theories to understand investor behaviour in the stock market.

The study used a questionnaire based on a conjoint analysis technique. The retail investors from India filled out the questionnaire. The authors developed an orthogonal design to generate retail investors' investment intentions and applied the full-profile conjoint method.

The results reveal that investors prefer to invest in technology-related firms when they employ entertainment celebrities to endorse their products. Investors prefer that entertainment celebrities' personalities match the single brand only they are endorsing. Further, investors choose to invest during corrective market trends in emerging economies, such as India.

The study offers practical implications for corporate entities and marketing professionals by analysing retail investors' investment intentions in financial markets.

The purpose of this study is to finds out how investor attention plays the moderating role between the relation of information risk and COE by considering the effect of three different types of information risk, that is private information, lack of quality and transparent information.

For that purpose, data is collected from all the non-financial firms listed on PSX from 2007 to 2019. Two-step system GMM dynamic panel estimators are applied to test the dynamic nature of the proposed model.

The findings of the study show that investor attention reduces these three information risks by increasing the stock liquidity and decreasing the crash risk which ultimately decreases the COE. Also, this study examined the role of investor attention between the relations of information risk and corporate investment in the dynamic panel model, where the two-step system generalized method of the moment has been applied. The finding of the study shows that investor attention stimulates the innovative investment by increasing investor confidence and decreasing the agency conflict.

This study contributes to the literature by providing the novel findings by considering the role of investor attention in reducing the effect of three different types of information risk, that is private information, less quality as well as less transparency of information and further their effect on the cost of equity.

The purpose of this study is to investigate the influence of mobile applications on investment decisions by retail investors in stocks and mutual funds. This study focuses on how mobile technologies are applied on mobile apps by retail investors for e-trading in emerging financial markets.

The study explored predictive relevance for the adoption behavior of retail investors under the Unified Theory of Acceptance and Use of Technology (UTAUT) framework. Further, goal contagion theory was applied to investigate the adoption behavior of investors towards e-trading. An adapted questionnaire was used to collect the date from April to June 2021 and data analysis was performed on 507 usable responses. The methodology adopted in this study is variance based partial least square structural equational modelling (PLS-SEM). Additionally, the study explains important and performing constructs based on the response of retail investors towards mobile app usage for investment decisions.

The study shows that effort expectancy, performance expectancy followed by perceived return were the primary determinants of behavioral intentions to use mobile applications by retail investors for e-trading. Further, habit of investors determined the adoption behavior of investors towards mobile apps. Additionally, the study revealed that perceived risk is not an important aspect for retail investors in comparison to perceived return.

The study in future can address to the aspect of personality traits of retail investors for technology adoption for investment decisions. Further investigation is required on addressing unobserved heterogeneity of retail investors towards technology adoption process in emerging financial markets.

The study provides theoretical and practical implications for retail investors, financial advisors and technology companies to understand the behavioral pattern and mobile apps adoption behavior of retail investors in emerging financial market. The findings in the study will help broking firms to sensitize their clients for effective use of their respective mobile apps for e-trading purposes. The study will strengthen the knowledge of financial advisors to understand investment behavior of retail investors in emerging financial markets.

This study unfolds a novel framework of research to understand the technology adoption pattern of retail investors for e-trading by mobile applications in emerging financial markets. The present study provides significant understanding in the domain of technology adoption by retail investors under behavioral finance environment.

The study aims to empirically analyze whether financial literacy can improve the financial behavior of individuals in the context of emerging markets like India.

The authors use the nationally representative Financial Inclusion Insights survey conducted in India during 2018 for the analysis. The authors consider the financial literacy score based on the standard financial literacy quiz that includes understanding basic numeracy, interest rates, inflation and diversification concepts to study its effect on payment attitude, savings attitude and risk management behavior proxied by insurance uptake. Using an instrumental variable approach, the authors account for the possible endogeneity associated with the financial literacy variable.

The authors find that less than 9% of individuals have correctly answered questions capturing all four aspects of financial literacy. The analysis suggests that improvements in financial literacy scores indeed increases the likelihood of exhibiting superior financial behavior. The results are robust to alternative definitions of financial literacy, outcome variables and inclusion of additional controls. The authors find that financial literacy increases financial planning, and this, in turn, possibly improves financial behavior. The effects are prominent for those residing in the urban area and having confidence in their financial skills.

This is among the few studies that provide insights regarding how improvements in financial literacy can improve financial behavior in an emerging economy context. Moreover, this study highlights financial planning as a possible channel through which financial literacy affects financial behavior. Further, the heterogeneous effects based on the area of residence and own ability underscore the need for complementary policies.

The purpose of this paper is to highlight the current pandemic situation of coronavirus disease 2019 (COVID-19) in Bangladesh, how the Government is managing this unprecedented condition and encountering these increasing public health challenges.

This paper is a viewpoint of the current COVID-19 pandemic situation in Bangladesh.

As one of the most densely populated countries, Bangladesh is vulnerable to COVID-19. Currently, the infection of COVID-19 is spreading fast and started to capture all the parts of Bangladesh. The Government of Bangladesh has already taken several preventive measures to overcome the pandemic such as declaring hotspots of COVID-19 and setting lockdowns, increasing mass awareness through social media and satellite TV channels. They are also encouraging private and community healthcare initiatives to increase hospital beds and COVID-19 treatment facilities. Besides, the Government has deployed defence force and additional health workers and increased public holidays to reduce the number of coronavirus infections. However, both the number of infected people and the death toll is rising, and there are growing challenges that the Government and public healthcare professions need to overcome.

This paper delivers information about the present developing situation of COVID-19 in Bangladesh, how the Government is handling and public health challenges that have raised. This paper can be helpful for the policymakers and Government officials for effective public health interventions.