Dört Temel Duygunun Bireylerde Risk Alma Davranışı Üzerindeki Etkisi - The Effect of Four Basic Emotional State on Risk Taking Behavior

Aren, Selim; Akgüneş, Ahmet Oğuz

doi:10.20491/isarder.2018.478

Cited by 5 publications

(1 citation statement)

References 6 publications

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“…Investing includes both hope and fear. While the investor hopes to get returns by taking risks, on the other hand, s/he is afraid of losing money (Aren and Akg€ unes ¸, 2018b). This dilemma causes a risk preference for change (Li, 2011;Habib and Cassotti, 2015).…”

Section: Literature Review and Hypothesis Developmentmentioning

confidence: 99%

The effect of individual cultural values and phantasy on risky investment intention

Aren

Hamamcı

2021

JEAS

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PurposeThis study aims to examine the impact of conscious and unconscious processes on risky investment intention. In this framework, the effect of individual cultural values and phantasy on risky investment intentions was investigated. In addition, the mediating role of phantasy in the relationship between individual cultural values and risky investment intentions was also analyzed.Design/methodology/approachData were collected between May 14, 2020 and June 01, 2020, when our graduate students voluntarily shared the online survey link on their social networks. In this way, 1,934 people in total answered the questionnaire. To test the study model, structural equation modeling (SEM) was performed using the AMOS program. In addition, ANOVA and independent sample t-test analyses were conducted using the SPSS program to analyze whether individual cultural values and risky investment intent differ according to demographic variables.FindingsAccording to the analysis results, power distance, collectivism, masculinity and long-term orientation are seen as antecedents of phantasy. While a positive relationship was found between power distance, collectivism and risky investment intention, a negative relationship was found between uncertainty avoidance and risky investment intention. Statistical findings regarding the mediating effect of phantasy on the relationship between individual cultural values and risky investment intentions were also determined. In addition to these, the differences in individual cultural values and risky investment intentions according to age, education level, sex and marital status were investigated. Individuals with the highest uncertainty avoidance level were in the 41–50 age group. Individuals with the highest long-term orientation level were individuals aged 41 and over. Individuals with the lowest risky investment intentions were in the +51 age group. Collectivism and power distance did not differ according to age. There were no differences in the relevant variables according to the level of education. Males have higher levels of risky investment intention, power distance, masculinity and collectivism than females, and married individuals have higher levels of uncertainty avoidance, masculinity and collectivism than singles.Originality/valueThis study is the first to investigate the impact of conscious and unconscious processes on risky investment intentions together. On the other hand, the number of studies empirically investigating the relationship between phantasy and risky investment intention is quite limited, and the authors have also provided the findings for the existence of a relationship between these two variables.

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Section: Literature Review and Hypothesis Developmentmentioning

confidence: 99%

The effect of individual cultural values and phantasy on risky investment intention

Aren

Hamamcı

2021

JEAS

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The measurement of fraud perception of investors and the mediating effect of risk aversion: the case of crypto assets

Özçelik,

Kurt

2024

IJAIM

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Purpose This study aims to gain a new perspective on auditing by measuring investors’ fraud perception and to reveal the necessity of increasing individuals’ fraud perception by determining the effect of fraud perception on the intention to invest in crypto assets from the investor’s perspective. Design/methodology/approach As part of this quantitative research, a survey was conducted on individuals residing in Türkiye and aged 18 years and above through a convenience sampling method. A total of 446 participants were included in the study. The data collected was analyzed using the partial least squares-variance based structural equation modeling (PLS-SEM) method using the SmartPLS program. Findings Fraud perception causes individuals to be more risk-averse and reduces their intention to invest in crypto assets. At the same time, it has been observed that risk-averse individuals have lower intention to invest in crypto assets. According to the results of the mediating effect analysis, risk aversion behavior partially mediates between the fraud perception and the intention to invest in crypto assets. Among the emotions, only fear increases risk aversion behavior. Among the personality traits, extroversion and openness to experience personality traits reduce risk aversion behavior, whereas neuroticism personality traits increase the intention to invest in crypto assets. Originality/value In an environment where traditional auditing activities are insufficient, increasing investors’ perceptions of fraud can reduce fraud-related losses. In this context, to the best of the authors’ knowledge, the present study might be among the first to investigate the impact of individuals’ perceptions of fraud on their investment intentions in crypto assets.

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Relationship between risk aversion, risky investment intention, investment choices

Aren

Hamamcı

2020

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Purpose This 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/approach For 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. Findings As 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/value Investment 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.

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Dört Temel Duygunun Bireylerde Risk Alma Davranışı Üzerindeki Etkisi - The Effect of Four Basic Emotional State on Risk Taking Behavior

Cited by 5 publications

References 6 publications

The effect of individual cultural values and phantasy on risky investment intention

The effect of individual cultural values and phantasy on risky investment intention

The measurement of fraud perception of investors and the mediating effect of risk aversion: the case of crypto assets

Relationship between risk aversion, risky investment intention, investment choices

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