The impacts of the big five traits on the intention of stock investment through risk, uncertainty, and investment performance perception

Abstract

Personality traits recently are of interest to effects to individual investors on decision making by researchers. However, the literature holds little evidence of all the well-known Big Five traits have significant influence on future investment decisions. We, therefore, propose with mediating roles of risk per-ception, uncertainty perception and investment performance in the impact of each of the Big Five traits on intentions to invest in stocks. The results based on 465 individual investors shown that: (i) extroversion is positive influence on risk and uncertainty perception, Agreeableness affect positively on uncertainty percep-tion and Neuroticism have negative influence on uncertainty perception, (ii) Risk and uncertainty perception affect to investment performance. (iii) Investment performance have influence on intentions to invest. (iv) mediating roles of risk perception, uncertainty perception and investment performance in the impact of each of the Big Five traits on intentions to invest in stocks.