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Welcome to the Academy of Financial Service’s 2019 Annual Meeting being held in Minneapolis, Minnesota in conjunction with FPA’s Annual Conference 2019. This is the full agenda for AFS. For details on FPA items, visit their Full Schedule. Please report any errors to support@academyfinancial.org.
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Wednesday, October 16 • 10:45am - 11:45am
E3b The Relationship between Personality Traits and Stock Investment Decisions as Mediated by Financial Risk Preference

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This paper investigates the mediation relationship of individuals’ financial risk preference between their personality traits and stock investment decisions by using the 2014 Health and Retirement Study (HRS). Structural equation model results show that that individuals’ stock market participations and stock share investment decisions are influenced by personality traits when considering financial risk preference as a mediator.  Results indicate that those with higher openness and extroversion are more likely to participate the stock market and have higher stock share in their investment portfolios. These with higher conscientiousness and agreeableness are less likely to participate the stock market and have lower stock share in their investment portfolios.  Financial planning implications are provided.

Author(s): Yi Liu, Sarah Asebedo

Presenters
avatar for Yi (Bessie) Liu

Yi (Bessie) Liu

Ph.D. Candidate, Texas Tech University
Yi (Bessie) Liu is a Ph.D. student in the Department of Personal Financial Planning at Texas Tech University. She aims to serve diversified groups especially for first and second generation immigrants as well as Asian-Americans to assist them in achieving a better financial futur... Read More →


Wednesday October 16, 2019 10:45am - 11:45am CDT
202 AB

Attendees (1)