Explores how personality traits affect investment behaviour across different ages and genders, suggesting implications for financial planning.
This study explores the empirical relationship between retail investors' investment behaviour and the Big Five personality traits (Openness, Conscientiousness, Extraversion, Agreeableness, and Neuroticism), with a focus on age and gender as moderators. Using a structured questionnaire and convenience sampling, data were collected from 500 respondents. Results show significant associations between investment behaviour and extroversion, openness, and neuroticism. Age moderates the relations between neuroticism and investment behaviour, while gender moderates the relationship between agreeableness, extraversion and investment behaviour. Financial planners can guide investors to stable stock market behaviour by considering their personality traits and demographic factors.
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Kumari et al. (2026) studied this question.
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