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Essays on personality traits and investor behaviorConlin, A. (Andrew) 05 September 2017 (has links)
Abstract
This dissertation contributes to the understanding of investor behavior by using personality traits to help explain investor decision-making. The work is novel, as personality traits have not been used much in finance research. The data used in this dissertation is also new to the field, consisting of observations on personality traits and socioeconomic variables combined with official records of investors’ stockholdings.
The first essay provides evidence that personality traits significantly affect the stock market participation decision. The essay shows that subscales of traits (i.e., lower-level traits or facets) can provide a better model of behavior, with some subscales of a single higher-level trait having opposite effects on behavior. The novelty seeking subscales exploratory excitability and extravagance have positive and negative effects, respectively, and the reward dependence subscales dependence and sentimentality have positive and negative effects, respectively. The magnitudes of the effects are large, with marginal effects on the probability of being a stock market participant of up to four percentage points.
The second essay explores the relationship between personality traits and risk aversion. We estimate risk aversion from equity holdings and from survey measures. The traits display a distinctive pattern of correlations with the estimates of risk aversion. Some traits are significantly related to observed portfolio characteristics such as portfolio volatility, number of stocks held, and trading frequency. The pattern of the traits’ relationships with the various measures of risk aversion indicates that personality traits should not be considered as merely drivers of risk aversion but as preference parameters distinct from risk aversion.
The third essay shows that personality traits are related to an investor’s preferences for value versus growth stocks and for small capitalization stocks versus large capitalization stocks. We find more extravagant individuals favor large capitalization growth stocks; more impulsive people favor small capitalization growth stocks; more sentimental investors prefer small capitalization value stocks; and more social investors prefer small capitalization stocks with a tilt towards value. / Tiivistelmä
Tämä tutkimus auttaa ymmärtämään sijoituskäyttäytymistä selittämällä sijoittajien päätöksentekoa heidän luonteenpiirteillään. Tutkimustuloksilla on uutuusarvoa, sillä luonteenpiirteiden merkitystä ei ole juurikaan tutkittu rahoitustutkimuksessa. Tutkimusaineisto on sekin luonteeltaan tavanomaisesta poikkeava, koostuen yksityishenkilöiden luonteenpiirteitä ja sosioekonomista asemaa kuvaavista muuttujista sekä heidän osakeomistustaan koskevista virallisista rekisteritiedoista.
Tutkimuksen ensimmäinen essee osoittaa, että luonteenpiirteillä on merkittävä vaikutus yksityishenkilön päätökseen toimia osakemarkkinoilla. Tutkimustulosten mukaan osallistumispäätöstä kyetään ennustamaan paremmin käyttämällä luonteenpiirteiden pääluokkia mittaavien muuttujien sijasta luonteenpiirteiden alaluokkia mittaavia muuttujia. Tämä selittyy sillä, että alaluokkia mittaavilla muuttujilla on eräissä tapauksissa vastakkaismerkkisiä, pääluokkaa mittaavassa muuttujassa toisensa peittäviä, yhteyksiä osallistumispäätökseen. Tämä voidaan havaita muun muassa pääluokkaan ”elämyshakuisuus” kuuluvien ”kokeilunhalun” (+) ja ”tuhlaavaisuuden” (-) kohdalla, samoin kuin pääluokkaan ”palkkioriippuvuus” kuuvilla ”riippuvuudella” (+) ja ”sentimentaalisuudella” (-). Kaiken kaikkiaan luonteenpirteitä mittaavien muuttujien vaikutuksen suurusluokka on korkea, vastaten yksittäisen muuttujan kohdalla jopa neljän prosentin marginaalivaikutusta osakemarkkinoille osallistumisen todennäköisyyteen.
Toinen essee tarkastelee luonteenpiirteiden ja riskinkarttamisen asteen välistä yhteyttä. Tutkimuksessa mitataan yksityishenkilön riskinkarttamisen astetta toisaalta hänen osakeomistuksensa rakenteen perusteella ja toisaalta kyselytutkimuksen avulla. Sijoittajien luonteenpiirteiden ja muodostettujen riskinkarttamisen astetta mittaavien muuttujien väliset korrelaatiot muodostavat selkeän rakenteen. Eräät luonteenpiirteet ovat merkitsevässä riippuvuussuhteessa muun muassa sijoittajan osakesalkun volatiliteettiin, salkkuun sisällytettyjen osakesarjojen määrään ja sijoittajan kaupankäyntiaktiivisuuteen. Luonteenpiirteitä kuvaavien muuttujien ja riskinkarttamisastetta kuvaavien muuttujien välisen yhteyden perusteella luonteenpiirteitä tulisi tarkastella enneminkin erillisinä sijoittajien preferenssejä kuvaavina muuttujina kuin riskinkarttamisasteen taustalla olevina perustekijöinä.
Kolmas essee osoittaa, että luonteenpiirteet ovat yhteydessä siihen, suosiiko sijoittaja arvo- vs. kasvuosakkeita ja/tai alhaisen markkina-arvon vs. korkean markkina-arvon yhtiöiden osakkeita. Tutkimustulokset osoittavat, että ”tuhlaavammat” sijoittajat suosivat korkean markkina-arvon omaavia kasvuosakkeita, kun taas ”impulsiivisemmat” sijoittajat suosivat alhaisen markkina-arvon omaavia kasvuosakkeita. Vastaavasti ”sentimentaalisemmat” sijoittajat suosivat ylipäätään alhaisen markkina-arvon omaavia arvo-osakkeita, ”sosiaalisten” sijoittajien suosiessa heidänkin alhaista markkina-arvoa, suunnaten kiinnostustaan samalla arvo-osakkeisiin.
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Vliv temporálních změn na hodnocení kompetence mluvčího / Effect of temporal changes on the evaluation of speaker competenceBerkovcová, Zuzana January 2017 (has links)
No description available.
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SPICE: A Software Tool for Studying End-user’s Insecure Cyber Behavior and Personality-traitsTamrakar, Anjila 10 August 2016 (has links)
Insecure cyber behavior of end users may expose their computers to cyber-attack. A first step to improve their cyber behavior is to identify their tendency toward insecure cyber behavior. Unfortunately, not much work has been done in this area. In particular, the relationship between end users cyber behavior and their personality traits is much less explored. This paper presents a comprehensive review of a newly developed, easily configurable, and flexible software SPICE for psychologist and cognitive scientists to study personality traits and insecure cyber behavior of end users. The software utilizes well-established cognitive methods (such as dot-probe) to identify number of personality traits, and further allows researchers to design and conduct experiments and detailed quantitative study on the cyber behavior of end users. The software collects fine-grained data on users for analysis.
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Job Satisfaction in Virtual Management : Personality traits in a virtual managment team based on trust and technology communication.Draganovic, Denis January 2017 (has links)
Background:Working in virtual teams from a distance has been a trend for the past decades and today, it is how many companies operate. As a company grows and gets more global, the leadership of the company gets more challenging and more complex. This puts high pressure on the workers and requires team members that have special skill to be operating a team from distance. Purpose:The purpose of this study was to get a deeper understanding on the effect of different personality traits based on propensity to trust and technology communication anxiety, which are the predictors of job satisfaction in remote virtual team, according to the literature. Hypotheses:Hypothesis 1A: Conscientiousness is negatively correlated with propensity to trust. Hypothesis 1B: Extraversion is positively correlated with propensity to trust. Hypothesis 1C: Agreeableness is positively correlated with propensity to trust.Hypothesis 2a: Neuroticism is positively correlated with technology communication anxiety.Hypothesis 2b: Openness is negatively correlated with technology communication anxiety.Hypothesis 3: Propensity to trust is positively correlated with perceived virtual teams usefulnessHypothesis 4: Technology communication anxiety is negatively correlated with job satisfaction in remote virtual team.Hypothesis 5: Perceived remote virtual team usefulness is positively correlated with job satisfaction in remote virtual teams. Methodology:A quantitative study was conducted to address the aim of the study. In total, 54 questionnaires were gathered. After the quantitative study was analyzed, three interviews were conducted to interpret the findings.Findings:Among five personality traits, only two of them are found to be predictors of technology communication anxiety and propensity to trust. Perceived usefulness is found to be the strongest predictor for job satisfaction. However, the R square shows that there are some other factors that affect job satisfaction.
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台灣教師人格特質及社會支持與幸福感關係之後設分析 / A Meta-analysis of Personality traits, Social support, Well-being for teachers in Taiwan蔡瑜庭, Tsai, Yu-Ting Unknown Date (has links)
本研究係以「後設分析」為研究方法,共採納國內二十四篇「人格特質與教師幸福感」與「社會支持與教師幸福感」的相關研究,以探究我國當前人格特質、社會支持與教師幸福感的現況,並探討不同調節變項對「人格特質與教師幸福感」或「社會支持與教師幸福感」的相關性之影響情形,其分析結果如下:
整體人格特質與教師幸福感在隨機效果模式下,其平均效應值為0.4330,表示教師的人格特質對其幸福感具有中高程度(.10<0.4330<.50)的正向影響。然整體人格特質與教師幸福感間卻存在高異質性(Q=65.22;p<.001),經研究結果發現,具有顯著差異的調節變項有:教師性別、婚姻狀況、教育程度以及任教階段共四項。
此外,人格特質的細部構面(神經質、外向性、開放性、友善性、嚴謹性)與教師幸福感在隨機效果模式下,除神經質對教師幸福感具有中程度(.10<|-0.3952|<.50)的負向影響外;其他人格特質,如外向性、開放性、友善性、嚴謹性等都對教師幸福感具有中至高程度的正向影響。然人格特質的細部構面(神經質、外向性、開放性、友善性、嚴謹性)與教師幸福感間卻都存在高異質性(p<.001),經研究結果發現,具有顯著差異的調節變項有:教師性別、年齡、婚姻狀況、教育程度、任教階段以及任教地區共六項。
而社會支持與教師幸福感在隨機效果模式下,其平均效應值為0.5564,表示教師若獲得社會支持的程度愈高,其幸福感也會愈高,兩者間具有高程度(0.5564>.50)的正向影響。然儘管社會支持與教師幸福感間存在高異質性(Q=326.45;p<.001),經研究後,受限於所納入的資料,未能發現具有顯著差異的調節變項。
最後,根據研究發現提出具體建議,以供教師、學校、相關教育行政單位及未來研究者參考。 / The present research employs meta-analysis as methodology based on the findings of 24 researches related to both the relationships between personality trait and teacher’s well-being, and the relationships between social support and teacher’s well-being. The purpose of this study is to understand the current status of the relationships between personality trait, social support and teacher’s well-being in Taiwan. The main findings of this study were summarized as follows:
Under the random-effects mode, the average effect value suggests that the mean effect size of personality trait and teacher’s well-being is 0.4330. There is a high heterogeneity between the overall personality traits and teacher’s well-being(Q=65.22;p<.001). For the relationships between personality trait and teacher’s well-being,4 moderators(i.e., teacher gender, marital status, educational level and teaching stage)have a statistically significant impacts on the mean effect size for outcomes.
Under the random-effects mode, the average effect results between the detail of personality traits and teacher’s well-being suggests that in personality traits, only neuroticism on teacher’s well-being with moderate (.10 <| -0.3952 | <.50) negative impact; other personality traits, such as extroversion, openness, agreeableness, conscientiousness, etc. have a sense of teacher’s well-being moderate to high degree of positive impact. There is a high heterogeneity between the details of the personality traits and teacher’s well-being(p<.001). For the relationships between The detail of the personality traits and teacher’s well-being, 6 moderators(i.e., teacher gender, age, marital status, educational level, teaching stage and teaching area)have a statistically significant impacts on the mean effect size for outcomes.
Under the random-effects mode, the average effect value suggest that the mean ESs of social support and teacher’s well-being is 0.5564. Although there is a high heterogeneity between social support and teacher well-being (Q = 326.45; p <.001). Due to limitations of the study, there shows no significant difference on moderator variables
The findings not only provide helpful information to teachers, schools, education authorities, but also generate practical suggestions for future studies.
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Vedení lidí / Leading peopleŠikolová, Lenka January 2009 (has links)
Diploma paper compares theoretical data of questions of leading people with established practice. The information about established practice in leading people was acquired by the help of questioning among managers. The aim of the paper is to evaluate informaion from practice of leading people and to compare them with methods, instructions and recommendations described in theory.
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Personnalité et politique : comment les traits de personnalité influencent la citoyennetéBergeron, Thomas 07 1900 (has links)
Un intérêt croissant pour les prédispositions individuelles est apparu au cours des deux dernières décennies en psychologie politique. Une grande variété de sujets a été étudiée comme la participation politique et électorale, les connaissances politiques, les attitudes et l'identification partisane. Ces études sont généralement basées sur le modèle du Big Five, avançant que cinq traits résumeraient la personnalité des individus. Ceux-ci sont l'ouverture à l’expérience, l'extraversion, l'agréabilité, la conscienciosité et la stabilité émotionnelle. La plupart des publications évaluant le lien entre la personnalité et la politique se concentrent sur les effets directs. Cependant, le modèle du Big Five suggère clairement que la relation entre les traits et les attitudes, comportements et identités politiques est également indirecte. En utilisant les données de l'American National Election Study de 2012 et 2016, j’analyserai d'abord comment la personnalité affecte la partisanerie, le choix électoral, l'intérêt politique et les attitudes envers le changement climatique. Je confirme que la personnalité a un effet direct sur les points de vue politiques. Deuxièmement, les effets de médiation de trois valeurs seront étudiées: l'idéologie, l'égalitarisme et le traditionalisme moral. L'analyse de médiation permet de décomposer l'effet causal total (ATE) en deux: l'effet moyen de médiation causale (ACME) et l'effet direct moyen (ADE). Je trouve que la plupart des effets sont médiés par l'idéologie, le traditionalisme moral et l'égalitarisme. 80% des associations sont médiées par au moins une valeur. Par conséquent, cette étude fournit des résultats suggérant que la personnalité est un facteur important dans l'explication des attitudes, des comportements et de l'identité partisane, et elle indique que les valeurs sont un mécanisme par lequel la personnalité a un effet. / A growing interest in individuals’ predispositions has emerged over the last two decades in political psychology. A wide variety of topics have been studied, such as turnout, political knowledge, attitudes, participation, and partisan identification. These studies are usually based on the Big Five model, arguing that five traits would summarize the personality of individuals. The five traits are openness to experience, extroversion, agreeableness, conscientiousness, and neuroticism. Most of the literature assessing the link between personality and politics focuses on the direct effects. However, the Big Five model clearly states that the relationship between traits and political attitudes, behaviours, and identities is also indirect. Using the data from the American National Election Study of 2012 and 2016, we firstly analyze how personality affects partisanship, vote choice, political interest, and attitudes toward climate change. We confirm that personality does have a direct effect on political outlooks. Secondly, we focus on the mediation effects of three values: ideology, egalitarianism, and moral traditionalism. The mediation analysis allows us to decompose the total causal (ATE) effect in two: the average causal mediation effect (ACME) and the average direct effect (ADE). We find that most of the effects are mediated by ideology, moral traditionalism, and egalitarianism. 80% of the associations are mediated by at least one mediator. Hence, this study offers evidence that personality is an important factor in the explanation of attitudes, behaviours, and partisan identity, and it indicates that values are an important mechanism through which personality has an effect.
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Personality traits as predictors of substance abuse and risky sexual behaviours mong university students in EthiopiaNewaye, Tedla Kutaye 01 1900 (has links)
This study was designed to determine the prevalence of substance use and risky sexual behaviours among university students in Ethiopia and examine whether personality traits predict substance use and risky sexual behaviours. Using a cross-sectional quantitative design, data were obtained from 2620 undergraduate students selected through stratified multistage sampling. Personality traits were measured through John, Donahue, and Kentle‘s (1991) Big Five Inventories [BFI-44]. Substance use and risky sexual behaviours were assessed using risky behaviour scales adapted from Miller et al. (2004) and Zuckerman and Kuhlman (2000). Statistical analysis was performed using Statistical Package for Social Sciences (SPSS) Version 20 and Analysis of Moment Structure (AMOS) Version 22 software. The findings revealed that 72.18% of the respondents reported that they have used at least one kind of substance in their lifetime and 50.27% of the participants had consumed at least one kind of substance in the past 30 days before the survey. The current prevalence of substance use was 46.3%, 16.1%, 9.9%, 6.8%, and 5.0% for drinking alcohol, chewing khat, smoking shisha, smoking cigarettes and marijuana use respectively. About 40.2% of respondents had sexual intercourse at least once in their lifetime and 25.6% had sex in the past three months before the study. Among sexually active respondents, 35% began sexual intercourse at the age of 17 years old or younger; 64.3% had multiple sexual partners; 53.1% had substance-induced sex, 62.03% had unsafe sex, and 45.3% had casual sex at least once. Males were found to be more at risk of substance use and risky sexual behaviours. Analysis of the structural relation revealed that conscientiousness and agreeableness traits were significant negative predictors and extraversion was a significant positive predictor of substance use and risky sexual behaviours. Neuroticism had a significant direct effect only on substance use. Substance use mediated the effect of personality traits on risky sexual behaviours. There was gender moderation or variation on the effect of personality traits on substance use and risky sexual behaviours. Therefore, the findings may imply that health risk behaviours were highly prevalent among students, which requires special prevention and intervention. Personality traits can be used to identify the vulnerable individuals and design programs aimed at developing behaviours underlying the protective traits. / Psychology / D. Litt. et Phil. (Psychology)
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Psykopatiska personlighetsdrag och antisocialt beteende bland unga pojkar och flickor : Är sambandet oberoende av ungas sociala förmåga och föräldrars socioekonomisk status?Al Khatib, Linn, Al Rubaye, Omaima January 2020 (has links)
Denna studie syftade till att undersöka grad av alla tre dimensioner sammanslagna och respektive dimension av psykopati bland unga och hur det relaterade till antisocialt beteende samt om relationerna kvarstod oberoende av ungas sociala förmåga och föräldrars SES. Urvalet bestod av 1731 unga varav 912 pojkar och 819 flickor i åldern 11-13 år med medelålder 12,2. Psykopatiska personlighetsdrag definierades med tre dimensioner som var grandiositet - manipulation, brist i empati - flackt känsloliv och impulsivitet - behov av omväxling. Resultaten visade att pojkar uppvisade högre grad av psykopatiska personlighetsdrag jämfört med flickor. Psykopatiska personlighetsdrag och antisocialt beteende korrelerade i hög utsträckning med varandra. Majoriteten av korrelationerna var högre bland pojkar än flickor separat. Sambanden kvarstod mellan psykopatiska personlighetsdrag och antisocialt beteende vid kontroll för ungas sociala förmåga respektive föräldrars SES för totala urvalet samt separat för pojkar respektive flickor. Slutsatsen som drogs var att psykopatiska personlighetsdrag och antisocialt beteende var relaterade till varandra. Denna relation var oberoende av ungas sociala förmåga och föräldrars SES. Diskussioner om praktiska implikationer förs och direktiv för framtida forskning ges. / The main purpose of this study was to investigate the extent of psychopathic personality traits among youths and how it related to antisocial behaviour and whether the relationships remained independent of youth’s social skills and parental SES. The study consisted of 1731 participant, where 912 of them were boys, and 819 were girls at age 11-13 with mean age 12,2. The psychopathic personality traits consist of three different dimensions; Grandiose-Deceitful, Callous-Unemotional, and Impulsivity-Need for Stimulation. The results showed that the psychopathic dimensions were significantly higher among boys than girls. We also examined the relationship between the psychopathic dimensions and conduct problems for the total sample, which showed a high positive significant correlation. These correlations were tested for both genders separately, which showed indications of boys having a higher correlation than girls. Furthermore, the result indicated that the relationship remained between psychopathic dimensions and conduct problems in controlling for social skills respective socioeconomic status for the total sample and separately for boys and girls. The conclusion drawn that psychopathic personality traits and conduct problem were related to each other. This relationship was independent of young’s level of social skills and parental level of SES. Discussions of practical implications and directives for future research are provided.
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Den ideella ledaren : En studie som undersöker personlighetstyper kopplat till utbrändhet tillsammans med motivationsfaktorer inom svenska idrottsföreningarGullersbo, Rebecca, Steiner, Felicia January 2020 (has links)
Abstract Title: The nonprofit leader Level: Final assignment for Bachelor Degrees in Business Administration Author: Felicia Jingmyr Steiner and Rebecca Gullersbo Supervisor: Jonas Kågström Date: May 2020 Aim: The purpose is to highlight the connection between Big Five´s different personality traits, the dimension according the Maslach Burnout Inventory and the underlying motivational factors within Swedish sport associations and their non-profit leaders. Method: The study uses a quantitive method with a deductive approach. The method involved a survey in which 380 leaders in Swedish sports associations were assigned the questionnaire. The empirical data was then processed in the analysis and statistics program Jamovi through a descriptive-, correlation- and factor analysis. Result and analysis: The result of the study showed that leaders with high levels of neuroticism have the biggest risk of burnout. A big part of the study group had high values of conscientiousness and extraversion built in to perform their leadership and involvement tasks well with high efficiency. The result showed that the leaders have a number of underlying motivational factors and not only one. The biggest motivating factor in the leaders who participated in this study was to help other people and the least motivated factor was the monetary reward. Contribution of the thesis: The study makes the most knowledge and an increased understanding of the interaction between different personality traits with other factors such as burnout and underlying motivational factors. The survey´s selection of leaders within Swedish sport associations provides a practical contribution in the form of knowledge about the leaders themselves and how they should work with them to keep the involvement going. Suggestions for further research: Upon completion of the study, further research of the sports associations´ leaders and their assignments can a connection between personality traits with other factors such as burnout and underlying motivational factors be found. An interesting angle of this type of research would be relevant is to see how the leader´s actual mission affects its sense of purpose. Further research in sport leaders and their non-profit involvement could do more in-depth by looking at their team/athletes´ demographic variables and strengths to see if the motivational factors are being eradicated because of these. Keywords: “The Big Five”, “Maslach Burnout Inventory”, burnout, personality trait, volunteer, voluntary work, “Volunteer Function Inventory”, coach, sport
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