{"status":"ok","message-type":"work","message-version":"1.0.0","message":{"indexed":{"date-parts":[[2025,11,10]],"date-time":"2025-11-10T13:06:52Z","timestamp":1762780012045,"version":"build-2065373602"},"reference-count":30,"publisher":"MDPI AG","issue":"12","license":[{"start":{"date-parts":[[2023,11,29]],"date-time":"2023-11-29T00:00:00Z","timestamp":1701216000000},"content-version":"vor","delay-in-days":0,"URL":"https:\/\/creativecommons.org\/licenses\/by\/4.0\/"}],"funder":[{"name":"National Natural Science Foundation of China","award":["72141304","2022YFC3303304","202206260061"],"award-info":[{"award-number":["72141304","2022YFC3303304","202206260061"]}]},{"name":"Key Research and Development Projects of the Ministry of Science and Technology","award":["72141304","2022YFC3303304","202206260061"],"award-info":[{"award-number":["72141304","2022YFC3303304","202206260061"]}]},{"name":"State Scholarship Fund of China Scholarship Council","award":["72141304","2022YFC3303304","202206260061"],"award-info":[{"award-number":["72141304","2022YFC3303304","202206260061"]}]}],"content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["Entropy"],"abstract":"<jats:p>Financial literacy has become increasingly crucial in today\u2019s complex financial markets. This paper explores the impact of financial literacy on the stock market by establishing an artificial financial market that aligns with the characteristics of the Chinese A-share market using agent-based modeling. The study incorporates financial literacy into investors\u2019 mixed beliefs and simulates their behavior in the market. The results show that improving individual investors\u2019 financial literacy can improve market quality and investor performance, as well as reduce the unequal distribution of wealth to some extent. However, the phenomenon of speculative trading and irrational behavior in the market can pose potential risks that require regulatory measures. Thus, policy recommendations to improve individual investors\u2019 financial literacy and establish corresponding regulatory measures are proposed.<\/jats:p>","DOI":"10.3390\/e25121602","type":"journal-article","created":{"date-parts":[[2023,11,29]],"date-time":"2023-11-29T09:00:18Z","timestamp":1701248418000},"page":"1602","update-policy":"https:\/\/doi.org\/10.3390\/mdpi_crossmark_policy","source":"Crossref","is-referenced-by-count":3,"title":["Market Impact Analysis of Financial Literacy among A-Share Market Investors: An Agent-Based Model"],"prefix":"10.3390","volume":"25","author":[{"given":"Rongtian","family":"Zhou","sequence":"first","affiliation":[{"name":"College of Management and Economics, Tianjin University, Weijin Road 92, Tianjin 300072, China"}]},{"given":"Xiong","family":"Xiong","sequence":"additional","affiliation":[{"name":"Laboratory of Computation and Analytics of Complex Management Systems (CACMS), Tianjin University, Weijin Road 92, Tianjin 300072, China"}]},{"given":"B\u00e0rbara","family":"Llacay","sequence":"additional","affiliation":[{"name":"Department of Business, Faculty of Economics and Business, University of Barcelona, Av. Diagonal 690, 08034 Barcelona, Spain"}]},{"given":"Gilbert","family":"Peffer","sequence":"additional","affiliation":[{"name":"IAFI Research Group, Faculty of Economics and Business, Av. Diagonal 690, 08034 Barcelona, Spain"}]}],"member":"1968","published-online":{"date-parts":[[2023,11,29]]},"reference":[{"key":"ref_1","first-page":"64","article-title":"The role of oil futures intraday information on predicting US stock market volatility","volume":"6","author":"Tang","year":"2021","journal-title":"J. Manag. Sci. Eng."},{"key":"ref_2","doi-asserted-by":"crossref","first-page":"52","DOI":"10.1016\/j.chieco.2019.03.008","article-title":"Financial literacy, housing value and household financial market participation: Evidence from urban China","volume":"55","author":"Zou","year":"2019","journal-title":"China Econ. 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