人格驱动的价值投资：财务自我效能感与多元认知风格的中介作用

IF 4.7 2区经济学 Q1 BUSINESS, FINANCE

Journal of Behavioral and Experimental Finance Pub Date : 2025-09-27 DOI:10.1016/j.jbef.2025.101114

Fawad Ahmad

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引用次数: 0

摘要

个体心理和认知特征对价值股与成长股（VSvGS）偏好的影响尚不清楚。本研究考察了人格特质、财务自我效能感（FSE）和多用途认知风格（VCS）对多用途认知风格选择的影响。具体而言，本研究考察了人格特质对个体偏好的直接影响以及FSE和VCS介导的间接影响。数据来自两所大学的351名学生，一所在意大利，另一所在巴基斯坦。结果表明，尽责性和开放性（外向性和神经质性）对VSvGS偏好有显著的正（负）直接影响。此外，研究还表明，尽责性和开放性（外向性和神经质）在FSE和VCS的中介作用下对VSvGS的偏好有正（负）影响。此外，研究结果显示，性格特征对意大利和巴基斯坦被调查者的VSvGS偏好的影响没有显著差异。

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Personality-driven value investing: The mediating role of financial self-efficacy and versatile cognitive styles

The influence of individual psychological and cognitive characteristics on preferences for value versus growth stocks (VSvGS) is not well understood. This study examines the influence of personality traits, financial self-efficacy (FSE), and versatile cognitive styles (VCS) on the choice between VSvGS. Specifically, it examines both the direct effects of personality traits on individual preferences and the indirect effects mediated by FSE and VCS. Data were collected from 351 students across two universities, one in Italy and the other in Pakistan. The results provide a significant positive (negative) direct effect of conscientiousness and openness (extraversion and neuroticism) on the preference for VSvGS. Furthermore, the study demonstrates that conscientiousness and openness (extraversion and neuroticism) have a positive (negative) impact on preferences for VSvGS, mediated by FSE and VCS. Moreover, the results show no significant differences in the impact of personality traits on the preferences for VSvGS between respondents from Italy and Pakistan.

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来源期刊

Journal of Behavioral and Experimental Finance BUSINESS, FINANCE-

CiteScore

13.20

自引率

6.10%

发文量

审稿时长

69 days

期刊介绍： Behavioral and Experimental Finance represent lenses and approaches through which we can view financial decision-making. The aim of the journal is to publish high quality research in all fields of finance, where such research is carried out with a behavioral perspective and / or is carried out via experimental methods. It is open to but not limited to papers which cover investigations of biases, the role of various neurological markers in financial decision making, national and organizational culture as it impacts financial decision making, sentiment and asset pricing, the design and implementation of experiments to investigate financial decision making and trading, methodological experiments, and natural experiments. Journal of Behavioral and Experimental Finance welcomes full-length and short letter papers in the area of behavioral finance and experimental finance. The focus is on rapid dissemination of high-impact research in these areas.