Why Women Take Fewer Risk Than Men Do: The Mediating Role of State Anxiety

Panno, Angelo; Donati, Maria Anna; Milioni, Michela; Chiesi, Francesca; Primi, Caterina

doi:10.1007/s11199-017-0781-8

Cited by 30 publications

(25 citation statements)

References 57 publications

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“…The current study concluded that the "need for achievement" factor has a positive and signi cant impact on women entrepreneurs' success. So, our ndings consistent with previous studies (Mahadalle and Kaplan 2017;McGee and Peterson 2017;Chuluunbaatar et al 2011) In addition, (Panno et al, 2018) suggest that new ventures have many taking risk behaviors as compare to old rms. Therefore, our ndings are aligned with previous studies that women entrepreneurs who feel risk-aversion will affect their SME's performance and success (González et al, 2013;Panno et al, 2018).…”

Section: Discussionsupporting

confidence: 92%

Factors Affecting Women Entrepreneurs’ Success; A study of Small and Medium-Sized Enterprises in Emerging Market of Pakistan

Khan

Salamzadeh

Shah

et al. 2020

Preprint

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In the present era, women are recognized as successful entrepreneurs through their strong desire, qualities and capabilities for robust economic development. Due to such an important contribution of women in economic development, we propose to investigate the factors, which affect women entrepreneur’s success in Pakistan. Data collected through structured questionnaires from 181 registered SMEs operating in Pakistan. A conceptual model is developed, while SPSS and AMOS software’s are used for analysis. The results indicate that the internal factors; including the need for achievements, risk-taking and self-confidence and external factors including economic factors and socio-cultural factors have a positive and significant influence on the success of women-owned enterprises. This research recommends Small and Medium Enterprises Development Authority (SMEDA), policymakers and practitioners to encourage women entrepreneurs to run their businesses for the long term by providing a variety of incentives and supports related to those internal and external factors. Numerous studies have been conducted to test the different factors’ effects on women's entrepreneurial success but our study investigated some psychological, cultural and religious factors that are still almost untouched especially in Pakistan. The current study also contributes to the existing literature through empirical shreds of evidence.

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Section: Discussionsupporting

confidence: 92%

Factors Affecting Women Entrepreneurs’ Success; A study of Small and Medium-Sized Enterprises in Emerging Market of Pakistan

Khan

Salamzadeh

Shah

et al. 2020

Preprint

View full text Add to dashboard Cite

show abstract

“…The current study had important practical implications. There are noted gender differences in financial behavior, such as financial risk-taking, retirement saving intention and behavior (Xiao et al, 2011; Ismail et al, 2017; Magendans et al, 2017; Panno et al, 2017; Topa et al, 2018). However, there was no gender differences in the disposition effect in the current study.…”

Section: Discussionmentioning

confidence: 99%

Financial Self-Efficacy and Disposition Effect in Investors: The Mediating Role of Versatile Cognitive Style

et al. 2019

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The disposition effect refers to the tendency of investors to sell winners too early and hold on to losers too long, which is one of the most documented and robust decision biases. However, few studies have looked beyond demographic and social factors on the disposition effect. The current study investigated the association between financial self-efficacy (FSE) (one’s belief about their personal capability in ultimate financial goals achieving), versatile cognitive style (an individual’s capability in deploying the experiential or rational mode in ways that are contextually appropriate), and the disposition effect. A total of 285 employees from finance-related business completed anonymous questionnaires regarding FSE, rational-experiential inventory, and the disposition effect. Our findings revealed that FSE was significantly and positively associated with versatile cognitive style and the disposition effect. Further, versatile cognitive style partially mediated the relationship between FSE and the disposition effect. Our findings provide valuable guidance for individual investors to make financial decisions based on their characteristics.

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“…Gender differences in anxiety may also influence risk-taking; females tend to have higher levels of anxiety, and this population shows significantly higher anxiety levels in females relative to males. State anxiety has been shown to modulate gender differences in risk-taking [48] and trait anxiety has been linked to decreased risk-taking [49–53]. In this study, trait anxiety was correlated with chronotype and gender, but did not influence risk-taking independent of these factors.…”

Section: Discussionmentioning

confidence: 54%

Chronotype mediates gender differences in risk propensity and risk-taking

2019

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Risk-taking is a complex form of decision-making that involves calculated assessments of potential costs and rewards that may be immediate or delayed. Thus, making predictions about inter-individual variation in risk-taking due to personality traits, decision styles or other attributes can be difficult. The association of risk-taking with gender is well-supported; males report higher propensity for risk-taking and show higher risk-taking on tasks measuring actual risk-taking behavior. Risk-taking also appears to be associated with circadian phenotypes (chronotypes), with evening-types reporting higher levels of risk-taking—but this association may be confounded by the fact that, in certain age groups, males are more likely to be evening-types. Here, we test for gender by chronotype effects on risk-taking in young adults (n = 610) using a self-reported risk propensity questionnaire, the health domain of the DOSPERT, and a behavioral task measuring risk-taking, the Balloon Analog Risk Task (BART). Our results show that males report and take significantly more risks than females in this population. In addition, evening-type individuals have significantly higher self-reported risk propensity and tend to take more risks on the BART. Interestingly, there is no significant difference in risk propensity or risk-taking behavior across male circadian phenotypes, but evening-type females significantly report and take more risk than female intermediate and morning types. In regression analyses, we found both gender and chronotype predict risk propensity and risk-taking. Path analysis confirms that chronotype has an indirect effect on gender differences in both risk propensity and risk-taking. Furthermore, we found that trait anxiety (STAI) and sleep disturbance (PROMIS), significantly correlate with chronotype and gender in the complete dataset, but do not independently predict differences in female risk-taking. These results suggest that chronotype mediates gender effects on risk-taking and that these effects are driven primarily by morning-type females, but are not related to gender-specific differences in trait anxiety or sleep quality.

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Why Women Take Fewer Risk Than Men Do: The Mediating Role of State Anxiety

Cited by 30 publications

References 57 publications

Factors Affecting Women Entrepreneurs’ Success; A study of Small and Medium-Sized Enterprises in Emerging Market of Pakistan

Factors Affecting Women Entrepreneurs’ Success; A study of Small and Medium-Sized Enterprises in Emerging Market of Pakistan

Financial Self-Efficacy and Disposition Effect in Investors: The Mediating Role of Versatile Cognitive Style

Chronotype mediates gender differences in risk propensity and risk-taking

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