Purpose

The aim of this study, the moderating effect of pleasure-seeking and loss aversion, was investigated in relation to the big five personality traits with regard to risky investment intentions.

Design/methodology/approach

In the study, the data was obtained between January and November 2019 via an online survey with convenience sampling. The total number of subjects is 886. The authors used IBM SPSS Statistics for analysis. Exploratory factor analysis, correlation analysis, regression analysis and discriminant analysis were performed.

Findings

Significant relationships were found between five personality traits and risky investment intentions. In these relationships, the moderator effect of pleasure-seeking for extraversion, conscientiousness and neuroticism personality traits was also determined. Besides, investment preferences for choosing “unknown and new investment” against “known and experienced investment”, which is a typical feature of the balloon periods, were modeled with big five personality traits and motivation variables (pleasure-seeking and loss aversion) and the equation was formed. As a result, high accuracy classification success was obtained.

Originality/value

The study is unique owing to its findings. In addition, general risk aversion and risky investment intention were investigated simultaneously to explain the different findings in the literature regarding the attitude of big five personality traits to risk and personality traits that show consistent approach were identified.

中文翻译：

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寻欢和损失厌恶对人格特质与风险投资意愿关系的调节作用

目的

这项研究的目的是研究愉悦和损失厌恶的调节作用，并与风险投资意向的五个主要人格特质相关。

设计/方法/方法

在这项研究中，数据是通过在线调查和便利抽样在2019年1月至11月之间获得的。主题总数为886。作者使用IBM SPSS Statistics进行分析。进行探索性因素分析，相关分析，回归分析和判别分析。

发现

在五个人格特质和冒险的投资意图之间发现了显着的关系。在这些关系中，还确定了寻求愉悦对于性格外向，尽责和神经质人格特质的调节作用。此外，气球期的一个典型特征是选择“未知和新投资”而不是“已知和有经验的投资”的投资偏好，通过五个主要的人格特质和动机变量（寻欢和损失厌恶）和等式形成了。结果，获得了高精度的分类成功。

创意/价值

由于其发现，这项研究是独特的。此外，同时对一般风险规避和风险投资意向进行了调查，以解释文献中关于五种人格特质对风险的态度的不同发现，并证明了一致的方法。