بررسی نقش شخصیت سرمایه‌گذاران، سواد مالی و ویژگی‌های جمعیت شناختی بر ریسک‌پذیری در بازار سرمایه
الموضوعات : پژوهش های مالی و رفتاری در حسابداری
حمید عباسی
1
,
امیر محمدزاده
2
,
محسن ترابیان
3
1 - دانشجوی دکتری مهندسی مالی ، دانشگاه آزاد اسلامی واحد قزوین
2 - دانشیار و عضو هئیت علمی دانشگاه آزاد قزوین
3 - استادیار گروه ریاضی دانشگاه آزاد اسلامی واحد قزوین
الکلمات المفتاحية: ریسک‌پذیری, ویژگی‌های شخصیتی, سواد مالی, عوامل جمعیت شناختی, مالی رفتاری,
ملخص المقالة :
در پژوهش حاضر، تأثیر شخصیت بر رفتار معاملاتی سرمایه‌گذاران حقیقی در بورس اوراق بهادار تهران با بهره‌گیری از مدل پنج عاملی شخصیت موردبررسی قرارگرفته است. همچنین، سواد مالی و عوامل جمعیت شناختی نظیر سن، جنسیت، تحصیلات، درآمد و تجربه در بورس به‌عنوان متغیرهای تأثیرگذار لحاظ شده‌اند. این تحقیق به‌عنوان یک مطالعه توصیفی و پیمایشی و از نوع کاربردی تلقی می‌شود و جامعه آماری آن شامل 280 نفر از سرمایه‌گذاران فعال در بازار بورس اوراق بهادار تهران است که به‌صورت آنلاین پرسشنامه محقق ساخته را تکمیل کرده‌اند.ابزار تحلیلی مورداستفاده شامل معادلات ساختاری SEM و نرم‌افزار Smart PLS4 می‌باشد که پس از تأیید روایی و پایایی ، فرضیات تحقیق آزمون گردیده‌اند.نتایج این تحقیق حاکی از آن است که سواد مالی تأثیر مثبت و معناداری بر ریسک‌پذیری سرمایه‌گذاران دارد و نشان می‌دهد که دانش مالی می‌تواند به اتخاذ تصمیمات بهتر در حوزه سرمایه‌گذاری منجر شود. از سوی دیگر، در قالب مدل پنج عاملی شخصیت، دو بعد گشودگی به تجربیات و برون‌گرایی تأثیر معناداری بر ریسک‌پذیری داشته‌اند، درحالی‌که سایر ابعاد این مدل شامل انطباق‌پذیری، مسئولیت‌پذیری و روان رنجوری از خود تأثیر معناداری نشان نداده‌اند. علاوه بر این، عوامل جمعیت شناختی نظیر جنسیت، تحصیلات و تجربه در بورس نیز تأثیرات معناداری بر ریسک‌پذیری سرمایه‌گذاران داشته‌اند، درحالی‌که سایر عوامل مانند سن، درآمد و شغل تأثیر قابل‌توجهی ندارند. به‌طورکلی، یافته‌ها نشان می‌دهند که ویژگی‌های شخصیتی، سواد مالی و عوامل جمعیت شناختی به‌طور معناداری حدود 8/69 درصد از رفتار ریسک‌پذیری را پیش‌بینی می‌کنند که توجه به این عوامل می‌تواند به بهبود و افزایش بازده سرمایه‌گذاری‌ها کمک نماید.
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