تفاوت‌های شخصیتی و تصمیمات سرمایه‌گذاری - نقش میانجی باورها و اعتقادات، ترجیحات ریسک و تعاملات اجتماعی

نوع مقاله : مدیریت استراتژیک (برنامه­‌ها، تحلیل‌های استراتژیکی تولید، استراتژی‌های بازاریابی و مدیریت بازار، کسب­وکار، سرمایه گذاری، منابع انسانی، مالی، رقابت، . . . )

نویسندگان

1 استاد، گروه حسابداری، دانشکدۀ علوم اقتصادی و اداری، دانشگاه مازندران، بابلسر، ایران

2 استادیار، گروه حسابداری، دانشکدۀ علوم اقتصادی و اداری، دانشگاه مازندران، بابلسر، ایران

چکیده

بر اساس دیدگاه روانشناسان، اگر چه ویژگی‌های شخصیتی هر فرد شامل توافق‌پذیری، وظیفه‌شناسی، روان‌رنجوری، برون‌گرایی، و گشودگی در بین افراد مختلف متفاوت است، اما در طول زمان نسبتا ثابت می‌ماند. بر این اساس این تنوع در تفاوت‌های فردی و ثبات آن در طول زمان، قادر به توصیف رفتار انسان در سناریوهای مختلف زندگی هستند. بنابراین در این پژوهش، تاثیر این پنج ویژگی شخصیتی بر تصمیم‌گیری درباره نحوه تخصیص سرمایه‌گذاری، از طریق متغیرهای باورها و اعتقادات، ترجیحات ریسک و تعاملات اجتماعی سرمایه‌گذاران بررسی شده است. برای دستیابی به  این هدف، 264 پرسشنامه از سرمایه‌گذاران بورس اوراق بهادار تهران جمع آوری و با بهره‌گیری از مدل رگرسیون و نرم افزار ایویوز 8 مورد تجزیه و تحلیل قرار گرفت. نتایج نشان داد شخصیت‌های وظیفه‌مدار، برون‌گرا و روان‌رنجور عوامل تعیین‌کننده‌تری در تبیین باورها و اعتقادات مشارکت‌کنندگان بوده در حالی که شخصیت‌های برون‌گرا، روان‌رنجور و گشوده‌رو، تعاملات اجتماعی گسترده‌تری نسبت به سایر شخصیت‌ها دارند. علاوه بر این، یافته‌ها حاکی از ان است سرمایه‌گذاران گشوده‌رو و برون‌گرا، ریسک‌گریزی کمتری دارند، در حالی که سرمایه‌گذاران روان‌رنجور، ریسک‌گریزی بالاتری دارند. در نهایت، شخصیت‌های روان‌رنجور، برون‌گرا و گشوده‌رو، عوامل تعیین‌کننده‌تری در تخصیص دارایی مشارکت‌کنندگان هستند که این عوامل از طریق دیدگاه‌های باورها و اعتقادات، ترجیحات ریسک و تعاملات اجتماعی قابل تفسیر است. نتایج همچنین نشان داد متغیرهای جنسیت، سن و مدرک تحصیلی بر تصمیمات سرمایه‌گذاری افراد تاثیرگذار است.

کلیدواژه‌ها


عنوان مقاله [English]

Personality differences and investment decisions - The mediating role of beliefs, risk preferences and social interactions

نویسندگان [English]

  • Yahya Kamyabi 1
  • Bahram Mohseni Maleki 2
1 Professor, Department of Accounting, Faculty of Economics and Administrative Sciences, University of Mazandaran, Babolsar, Iran
2 Assistant Professor, Department of Accounting, Faculty of Economics and Administrative Sciences, University of Mazandaran, Babolsar, Iran
چکیده [English]

According to the psychology perspective, although each person's personality traits including agreeableness, conscientiousness, neuroticism, extraversion, and openness vary among different people, they remain relatively constant over time. Based on this, this diversity in individual differences and its stability over time, are able to describe human behavior in different scenarios of life. Therefore, in this research, the impact of these five personality traits on the decision-making process of investment allocation has been investigated through the channels of beliefs, risk preferences and social interactions of investors. To achieve this goal, 264 questionnaires were collected from the investors of Tehran Stock Exchange and analyzed using the regression model using Eviuse 8 software. The results showed that conscientiousness, extraversion, and neuroticism personalities were more determining factors in explaining the participants' beliefs, while extraversion, neuroticism and openness personalities have broader social interactions than other personalities. In addition, the findings indicate that openness and extraversion investors have less risk aversion, while neuroticism investors have a higher risk aversion. Finally, neuroticism, extraversion, and openness personalities are more decisive factors in the allocation of participants' assets that these factors can be interpreted through the views of beliefs, risk preferences and social interactions. The results also showed that the variables of gender, age, and education have an impact on people's investment decisions.

کلیدواژه‌ها [English]

  • Asset Allocation
  • Investment Decisions
  • Social Interactions
  • Risk
  • Personality Traits
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