While the effects of emotions on attitudes to investment risk are now well documented, the influence of personality factors has been much less researched. This paper examines the role of personality traits in determining financial risk tolerance. Using an extensive survey of UK-based retail investors, we show that personality traits and characteristics are more important than emotions in determining attitude to risk. We also observe that the widely adopted ‘Big Five’ framework is insufficient to characterise this relationship adequately, with significant roles for financial self-efficacy, resilience, trait anger and intolerance of uncertainty. Since some of these characteristics can be modified, our findings are suggestive that appropriate training and support for those making financial decisions could lead to better outcomes over the longer term.
{"title":"The Impact of Personality Traits on Attitude to Financial Risk","authors":"Chris Brooks, Louis Williams","doi":"10.2139/ssrn.3729114","DOIUrl":"https://doi.org/10.2139/ssrn.3729114","url":null,"abstract":"While the effects of emotions on attitudes to investment risk are now well documented, the influence of personality factors has been much less researched. This paper examines the role of personality traits in determining financial risk tolerance. Using an extensive survey of UK-based retail investors, we show that personality traits and characteristics are more important than emotions in determining attitude to risk. We also observe that the widely adopted ‘Big Five’ framework is insufficient to characterise this relationship adequately, with significant roles for financial self-efficacy, resilience, trait anger and intolerance of uncertainty. Since some of these characteristics can be modified, our findings are suggestive that appropriate training and support for those making financial decisions could lead to better outcomes over the longer term.","PeriodicalId":118711,"journal":{"name":"PsychRN: Other Social & Personality Psychology (Topic)","volume":"41 3","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-11-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114115425","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2016-06-01DOI: 10.17323/2411-7390-2016-2-2-68-77
G. Suvorova, Tatiana Baranovskaya
This article analyses V.D. Shadrikov’s scientific work in the field of psychology. V.D. Shadrikov is Doctor of Psychology, Professor, and Fellow of the Russian Academy of Education. The article briefly covers his fundamental publications on activity, abilities, and the human inner world, examining the issues raised in his publications in the context of the evolution of educational theory and methodology. Shadrikov develops the methodology of systemic genesis approach in psychology, demonstrating that the systemic genesis paradigm opens new aspects in fundamental and applied psychology. This paradigm provides an opportunity to carry out research on a new level. This article is published under the Creative Commons Attribution 4.0 International License.
{"title":"Systemic Genesis Approach in Psychology","authors":"G. Suvorova, Tatiana Baranovskaya","doi":"10.17323/2411-7390-2016-2-2-68-77","DOIUrl":"https://doi.org/10.17323/2411-7390-2016-2-2-68-77","url":null,"abstract":"This article analyses V.D. Shadrikov’s scientific work in the field of psychology. V.D. Shadrikov is Doctor of Psychology, Professor, and Fellow of the Russian Academy of Education. The article briefly covers his fundamental publications on activity, abilities, and the human inner world, examining the issues raised in his publications in the context of the evolution of educational theory and methodology. Shadrikov develops the methodology of systemic genesis approach in psychology, demonstrating that the systemic genesis paradigm opens new aspects in fundamental and applied psychology. This paradigm provides an opportunity to carry out research on a new level. \u0000 \u0000This article is published under the Creative Commons Attribution 4.0 International License.","PeriodicalId":118711,"journal":{"name":"PsychRN: Other Social & Personality Psychology (Topic)","volume":"148 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134147595","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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