The effect of state and trait power on financial risk taking: The mediating and moderating roles of focus on rewards versus threats

IF 1.8 3区 心理学 Q3 PSYCHOLOGY, APPLIED
Katarzyna Sekścińska, Diana Jaworska, Joanna Rudzinska-Wojciechowska
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Abstract

Correlates of power remain understudied in the context of financial risk taking. This project aimed to investigate the role of focus on rewards versus threats in explaining the relationship between power and risky financial choices across three studies (N1 = 326, N2 = 397, N3 = 223). Study 1 analyzed the mediating role of focus on rewards versus threats and financial risk perception in the relationship between sense of power and risky financial choices. The results indicated that a greater sense of power translates into a greater general focus on rewards, which, in turn, leads to lower investment and gambling risk perception and results in riskier financial choices. Study 2 investigated the role of states of power and lack of power in explaining people's financial decisions as well as their influence on people's situational focus on rewards versus threats. We demonstrated that the state of power plays a significant role in explaining the situational focus on rewards versus threats, situational risk perception, and risky investment and gambling choices. Study 3 tested the single and joint moderating effects of the state of focus on rewards versus threats and the state of power in explaining the positive relationship between the sense of power and risky investing and gambling choices. In line with our main hypothesis, the obtained results showed a significant three-way interaction among sense of power, state of power, and state of focus on rewards versus threats, both in terms of investment and gambling choices.

国家权力与特质权力对金融风险承担的影响:奖励与威胁的中介与调节作用
在金融风险承担的背景下,权力的相关性仍未得到充分研究。本项目旨在通过三项研究(N1 = 326, N2 = 397, N3 = 223),探讨对奖励与威胁的关注在解释权力与风险金融选择之间的关系中的作用。研究1分析了奖励对威胁的关注和财务风险感知在权力感与风险财务选择关系中的中介作用。结果表明,更强的权力意识转化为对回报的更大关注,这反过来又导致更低的投资和赌博风险感知,并导致风险更高的金融选择。研究2调查了权力状态和缺乏权力状态在解释人们的财务决策中的作用,以及它们对人们对奖励和威胁的情境关注的影响。我们证明了权力状态在解释情境关注奖励与威胁、情境风险感知以及风险投资和赌博选择方面发挥了重要作用。研究3在解释权力感与风险投资和赌博选择之间的正相关关系时,测试了对奖励和威胁的关注状态和权力状态的单一和联合调节作用。与我们的主要假设一致,所获得的结果显示,在投资和赌博选择方面,权力感、权力状态和对奖励与威胁的关注状态之间存在显著的三方互动。
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来源期刊
CiteScore
4.40
自引率
5.00%
发文量
40
期刊介绍: The Journal of Behavioral Decision Making is a multidisciplinary journal with a broad base of content and style. It publishes original empirical reports, critical review papers, theoretical analyses and methodological contributions. The Journal also features book, software and decision aiding technique reviews, abstracts of important articles published elsewhere and teaching suggestions. The objective of the Journal is to present and stimulate behavioral research on decision making and to provide a forum for the evaluation of complementary, contrasting and conflicting perspectives. These perspectives include psychology, management science, sociology, political science and economics. Studies of behavioral decision making in naturalistic and applied settings are encouraged.
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