Relationship between risk aversion, risky investment intention, investment choices: Impact of personality traits and emotion
PurposeThis paper aims to examine the effects of subjective and financial literacy, big five personality traits and emotions (fear, anger, hope and sadness) on risk aversion, risky investment intention and investment choices were investigated. Interactions of these three variables (risk aversion, ri...
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| Veröffentlicht in: | Kybernetes 2020-10, Vol.49 (11), p.2651-2682 |
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| creator | Aren, Selim Nayman Hamamci, Hatice |
| description | PurposeThis paper aims to examine the effects of subjective and financial literacy, big five personality traits and emotions (fear, anger, hope and sadness) on risk aversion, risky investment intention and investment choices were investigated. Interactions of these three variables (risk aversion, risky investment intention and investment choices) were also examined.Design/methodology/approachFor this purpose, in January-February 2019, collected data on 446 subjects from Turkey using the internet (341) and face-to-face (105) survey instruments. The authors exploited IBM SPSS Statistics for analysis. ANOVA, t-test and discriminant analysis were performed.FindingsAs a result of the analyzes, two personality traits (neuroticism and openness) and two emotions (fear and sadness) were determined as predictors of risk aversion. For risky investment intention, risk aversion, two personality traits (neuroticism and openness) and one of the same and other one different two emotions (fear and anger) were found.Originality/valueInvestment choices can be estimated by objective financial literature, risk aversion and risky investment intention. In addition, individuals’ risk averse or risk taking characteristics differ according to their level of sadness with agreeableness, conscientiousness and neuroticism personality traits. Similarly, have a risky investment intention or have not risky investment intention also differs according to sadness emotions with conscientiousness and openness. Finally, the choice of stocks or bank deposits varies according to subjective financial literacy and extraversion personality trait. |
| doi_str_mv | 10.1108/K-07-2019-0455 |
| format | Article |
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Interactions of these three variables (risk aversion, risky investment intention and investment choices) were also examined.Design/methodology/approachFor this purpose, in January-February 2019, collected data on 446 subjects from Turkey using the internet (341) and face-to-face (105) survey instruments. The authors exploited IBM SPSS Statistics for analysis. ANOVA, t-test and discriminant analysis were performed.FindingsAs a result of the analyzes, two personality traits (neuroticism and openness) and two emotions (fear and sadness) were determined as predictors of risk aversion. For risky investment intention, risk aversion, two personality traits (neuroticism and openness) and one of the same and other one different two emotions (fear and anger) were found.Originality/valueInvestment choices can be estimated by objective financial literature, risk aversion and risky investment intention. In addition, individuals’ risk averse or risk taking characteristics differ according to their level of sadness with agreeableness, conscientiousness and neuroticism personality traits. Similarly, have a risky investment intention or have not risky investment intention also differs according to sadness emotions with conscientiousness and openness. Finally, the choice of stocks or bank deposits varies according to subjective financial literacy and extraversion personality trait.</description><identifier>ISSN: 0368-492X</identifier><identifier>EISSN: 1758-7883</identifier><identifier>DOI: 10.1108/K-07-2019-0455</identifier><language>eng</language><publisher>London: Emerald Group Publishing Limited</publisher><subject>Behavior ; Cybernetics ; Decision making ; Discriminant analysis ; Emotional intelligence ; Emotions ; Fear ; Financial literacy ; Interdisciplinary aspects ; Literature reviews ; Mathematical models ; Personality ; Personality traits ; Risk ; Securities markets ; Statistical tests ; Variables</subject><ispartof>Kybernetes, 2020-10, Vol.49 (11), p.2651-2682</ispartof><rights>Emerald Publishing Limited 2020</rights><lds50>peer_reviewed</lds50><woscitedreferencessubscribed>false</woscitedreferencessubscribed><cites>FETCH-LOGICAL-c222t-9ae11792abcc613d456f8682d78db07e95772af7afef5952dda04b22cf8cbc483</cites></display><links><openurl>$$Topenurl_article</openurl><openurlfulltext>$$Topenurlfull_article</openurlfulltext><thumbnail>$$Tsyndetics_thumb_exl</thumbnail><link.rule.ids>314,776,780,961,27903,27904</link.rule.ids></links><search><creatorcontrib>Aren, Selim</creatorcontrib><creatorcontrib>Nayman Hamamci, Hatice</creatorcontrib><title>Relationship between risk aversion, risky investment intention, investment choices: Impact of personality traits and emotion</title><title>Kybernetes</title><description>PurposeThis paper aims to examine the effects of subjective and financial literacy, big five personality traits and emotions (fear, anger, hope and sadness) on risk aversion, risky investment intention and investment choices were investigated. 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In addition, individuals’ risk averse or risk taking characteristics differ according to their level of sadness with agreeableness, conscientiousness and neuroticism personality traits. Similarly, have a risky investment intention or have not risky investment intention also differs according to sadness emotions with conscientiousness and openness. Finally, the choice of stocks or bank deposits varies according to subjective financial literacy and extraversion personality trait.</description><subject>Behavior</subject><subject>Cybernetics</subject><subject>Decision making</subject><subject>Discriminant analysis</subject><subject>Emotional intelligence</subject><subject>Emotions</subject><subject>Fear</subject><subject>Financial literacy</subject><subject>Interdisciplinary aspects</subject><subject>Literature reviews</subject><subject>Mathematical models</subject><subject>Personality</subject><subject>Personality traits</subject><subject>Risk</subject><subject>Securities markets</subject><subject>Statistical tests</subject><subject>Variables</subject><issn>0368-492X</issn><issn>1758-7883</issn><fulltext>true</fulltext><rsrctype>article</rsrctype><creationdate>2020</creationdate><recordtype>article</recordtype><sourceid>AFKRA</sourceid><sourceid>AZQEC</sourceid><sourceid>BENPR</sourceid><sourceid>CCPQU</sourceid><sourceid>DWQXO</sourceid><sourceid>GNUQQ</sourceid><sourceid>GUQSH</sourceid><sourceid>M2O</sourceid><recordid>eNpNkNFLwzAQxoMoWKevPhd8NfNybZrkUYZO2UAYCr6FNE1Y59bOpJvsv7fdfPDpu7vv4-74EXLLYMwYyIcZBUERmKKQc35GEia4pELK7JwkkBWS5go_L8lVjCsAhgVCQhYLtzZd3TZxWW_T0nU_zjVpqONXavYuxN65P7aHtG72LnYb13R92fVy9P5N7bKtrYvX5MKbdXQ3fzoiH89P75MXOn-bvk4e59QiYkeVcYwJhaa0tmBZlfPCy0JiJWRVgnCKC4HGC-Od54pjVRnIS0TrpS1tLrMRuTvt3Yb2e9c_oVftLjT9SY25UpChkEWfGp9SNrQxBuf1NtQbEw6agR646ZkGoQdueuCW_QJfoWHM</recordid><startdate>20201022</startdate><enddate>20201022</enddate><creator>Aren, Selim</creator><creator>Nayman Hamamci, Hatice</creator><general>Emerald Group Publishing Limited</general><scope>AAYXX</scope><scope>CITATION</scope><scope>7SC</scope><scope>7SP</scope><scope>7TB</scope><scope>7XB</scope><scope>8AO</scope><scope>8FD</scope><scope>8FE</scope><scope>8FG</scope><scope>AFKRA</scope><scope>ARAPS</scope><scope>AZQEC</scope><scope>BENPR</scope><scope>BGLVJ</scope><scope>CCPQU</scope><scope>DWQXO</scope><scope>FR3</scope><scope>GNUQQ</scope><scope>GUQSH</scope><scope>HCIFZ</scope><scope>JQ2</scope><scope>K7-</scope><scope>L7M</scope><scope>L~C</scope><scope>L~D</scope><scope>M0N</scope><scope>M2O</scope><scope>MBDVC</scope><scope>P5Z</scope><scope>P62</scope><scope>PQEST</scope><scope>PQQKQ</scope><scope>PQUKI</scope><scope>PRINS</scope><scope>Q9U</scope></search><sort><creationdate>20201022</creationdate><title>Relationship between risk aversion, risky investment intention, investment choices</title><author>Aren, Selim ; Nayman Hamamci, Hatice</author></sort><facets><frbrtype>5</frbrtype><frbrgroupid>cdi_FETCH-LOGICAL-c222t-9ae11792abcc613d456f8682d78db07e95772af7afef5952dda04b22cf8cbc483</frbrgroupid><rsrctype>articles</rsrctype><prefilter>articles</prefilter><language>eng</language><creationdate>2020</creationdate><topic>Behavior</topic><topic>Cybernetics</topic><topic>Decision making</topic><topic>Discriminant analysis</topic><topic>Emotional intelligence</topic><topic>Emotions</topic><topic>Fear</topic><topic>Financial literacy</topic><topic>Interdisciplinary aspects</topic><topic>Literature reviews</topic><topic>Mathematical models</topic><topic>Personality</topic><topic>Personality traits</topic><topic>Risk</topic><topic>Securities markets</topic><topic>Statistical tests</topic><topic>Variables</topic><toplevel>peer_reviewed</toplevel><toplevel>online_resources</toplevel><creatorcontrib>Aren, Selim</creatorcontrib><creatorcontrib>Nayman Hamamci, Hatice</creatorcontrib><collection>CrossRef</collection><collection>Computer and Information Systems Abstracts</collection><collection>Electronics & Communications Abstracts</collection><collection>Mechanical & Transportation Engineering Abstracts</collection><collection>ProQuest Central (purchase pre-March 2016)</collection><collection>ProQuest Pharma Collection</collection><collection>Technology Research Database</collection><collection>ProQuest SciTech Collection</collection><collection>ProQuest Technology Collection</collection><collection>ProQuest Central UK/Ireland</collection><collection>Advanced Technologies & Aerospace Collection</collection><collection>ProQuest Central Essentials</collection><collection>ProQuest Central</collection><collection>Technology Collection</collection><collection>ProQuest One Community College</collection><collection>ProQuest Central Korea</collection><collection>Engineering Research Database</collection><collection>ProQuest Central Student</collection><collection>Research Library Prep</collection><collection>SciTech Premium Collection</collection><collection>ProQuest Computer Science Collection</collection><collection>Computer Science Database</collection><collection>Advanced Technologies Database with Aerospace</collection><collection>Computer and Information Systems Abstracts Academic</collection><collection>Computer and Information Systems Abstracts Professional</collection><collection>Computing Database</collection><collection>Research Library</collection><collection>Research Library (Corporate)</collection><collection>Advanced Technologies & Aerospace Database</collection><collection>ProQuest Advanced Technologies & Aerospace Collection</collection><collection>ProQuest One Academic Eastern Edition (DO NOT USE)</collection><collection>ProQuest One Academic</collection><collection>ProQuest One Academic UKI Edition</collection><collection>ProQuest Central China</collection><collection>ProQuest Central Basic</collection><jtitle>Kybernetes</jtitle></facets><delivery><delcategory>Remote Search Resource</delcategory><fulltext>fulltext</fulltext></delivery><addata><au>Aren, Selim</au><au>Nayman Hamamci, Hatice</au><format>journal</format><genre>article</genre><ristype>JOUR</ristype><atitle>Relationship between risk aversion, risky investment intention, investment choices: Impact of personality traits and emotion</atitle><jtitle>Kybernetes</jtitle><date>2020-10-22</date><risdate>2020</risdate><volume>49</volume><issue>11</issue><spage>2651</spage><epage>2682</epage><pages>2651-2682</pages><issn>0368-492X</issn><eissn>1758-7883</eissn><abstract>PurposeThis paper aims to examine the effects of subjective and financial literacy, big five personality traits and emotions (fear, anger, hope and sadness) on risk aversion, risky investment intention and investment choices were investigated. 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| subjects | Behavior Cybernetics Decision making Discriminant analysis Emotional intelligence Emotions Fear Financial literacy Interdisciplinary aspects Literature reviews Mathematical models Personality Personality traits Risk Securities markets Statistical tests Variables |
| title | Relationship between risk aversion, risky investment intention, investment choices: Impact of personality traits and emotion |
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