The relationship between parents' personality traits and leaving unequal bequests to children

Sommer, Matthew; Lim, HanNa

doi:10.1002/cfp2.1147

Cited by 1 publication

(1 citation statement)

References 44 publications

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“…Individuals who are high on conscientiousness tend to be more cautious in their investment decision‐making and are likely to have better financial knowledge. This trait is associated with participation in short‐term investing (Mayfield et al, 2008), lower likelihood of investing in stocks (Wiesel, 2017), and lower levels of unsecured debt (Brown & Taylor, 2014; Pearson et al, 2023; Sommer & Lim, 2022). In general, conscientiousness has been linked to prudent financial behaviors, as people who score high on this trait may choose to reduce the uncertainty of future stock market risk by holding no or fewer stocks in their investment portfolios.…”

Section: Literature Review and Hypothesis Developmentmentioning

confidence: 99%

Personality, financial risk‐taking attitude, and older individuals' stock investment decisions

Liu,

Del Asebedo,

Pearson

2023

Fin Plan Rev

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This study investigates the relationship between personality traits and older individuals' stock investment decisions using structural equation modeling. The results suggest that greater openness and extraversion are associated with a higher propensity to participate in stock investments and hold a larger proportion of stock investments relative to their other financial assets. Additionally, the findings suggest that those with greater conscientiousness and agreeableness are less likely to hold stock investments and tend to hold smaller proportions of stock investments relative to other financial assets. Last, the results indicate that those with greater openness and extraversion are more willing to take financial risks, whereas those with greater conscientiousness and agreeableness display less willingness to take financial risks.

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Section: Literature Review and Hypothesis Developmentmentioning

confidence: 99%