Perceived Stress and Perceived Performance: A Study in The Vietnam Stock Market during The Covid-19 Pandemic

Abstract

Literature on the effect of perceived stress and perceived performance is under-explored. Therefore, this study examines this relationship, using the 2021 survey data on 437 individual investors in the Vietnamese stock market, from February to July 2021. The results show that perceived stress has a negative effect on perceived performance after controlling for Big Five traits and demographics. In addition, the perceived stress significantly moderates the association between agreeableness, extraversion, and perceived performance. Male investors are less stressed and more satisfied with the achieved returns than female investors. Our findings have implications for policymakers, especially for financial markets where individual investors are the primary participants, in controlling the COVID-19 epidemic more effectively. More interventions to prevent the spread of the disease help investors reduce stress and increase their satisfaction with profits, which motivates them to continue to participate in the financial market and contribute to the development of the economy.