The Effect of Big Five Personality Traits on Financial Risk Taking and Risk Aversion Behaviour: A Study on Generation Z

Öz

The study aims to investigate the relationship between risk-taking, risk aversion and big five personality traits. The data used for the study is collected from 110 people born after 2000 (Z generation) by using easy sampling and survey method. According to the results of factor analysis, agreeableness is excluded from the study. We establish two different regression equation to analyze the relation between risk aversion, risk taking and big five personality traits. Also, the relationship between variables is investigated by an independent sample t-test. According to the regression results, extraversion individuals want to take more financial risk, but openness individuals want to take less risk. Individuals who are emotionally balanced and have more conscientiousness are less risk averse. Independent sample t test results support regression results. Therefore, it is concluded that individuals who are extraversion, emotionally balanced and capable of analysis take more risks and make riskier investment decisions.

Anahtar Kelimeler

• Financial Risk Taking
• Risk Aversion
• Big Five Personality
• Financial Decision Making

Beş Temel Kişilik Özelliğinin Finansal Risk Alma ve Riskten Kaçınma Davranışları Üzerine Etkisi: Z Kuşağı Örneği

Öz

Bu çalışma beş temel kişilik özelliğinin risk alma ve riskten kaçınma davranışları arasındaki ilişkiyi araştırmayı amaçlamaktadır. Çalışma için kullanılan veri 2000 yılı sonrası doğumlu (Z Kuşağı) 110 üniversite öğrencisinden kolayda örnekleme yolu ve anket yöntemi kullanılarak elde edilmiştir. Çalışmada faktör analizi sonucuna göre uyumluluk kişilik özelliği çalışmadan çıkartılmıştır. Risk alma ve riskten kaçınma değişkenlerinin bağımsız değişken olduğu iki farklı regresyon denklemi kurulmuş olup ayrıca değişkenler arası ilişki bağımsız örneklem t testi ile araştırılmıştır. Regresyon denklemi sonuçlarına göre dışa dönük bireyler daha fazla finansal risk almak istemekle beraber sorumlu bireyler daha az risk almak istemektedirler. Duygusal olarak dengeli ve açıklık kişiliklerine sahip olan bireyler ise daha az riskten kaçınmaktadırlar. Bağımsız örneklem t testi sonuçları ise regresyon sonuçlarını desteklemektedir. Dolayısıyla dışa dönük, duygusal olarak dengeli ve analiz yeteneğine sahip bireylerin daha fazla risk alacakları ve daha fazla riskli yatırım kararı verebilecekleri sonucuna ulaşılmıştır.

Anahtar Kelimeler

• Finansal Risk Alma
• Riskten Kaçınma
• Beş Temel Kişilik Özelliği
• Finansal Karar Alma

Kaynakça

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