Financial risk tolerance and Behavioral Factors: Evidence from Egypt | ||||
| المجلة العلمية للدراسات التجارية والبيئية | ||||
| Article 3, Volume 14, Issue 1, January 2023, Page 83-120 PDF (591.23 K) | ||||
| Document Type: المقالة الأصلية | ||||
| DOI: 10.21608/jces.2023.296993 | ||||
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| Authors | ||||
| Dalia Ahmed Elmosallamy* 1; Madiha Refaat Metawie* 2 | ||||
| 1Assistant Professor Faculty of Business Administration, Economics and Political Science, British University in Egypt, | ||||
| 2Assistant Professor Business Department, Faculty of Commerce, Ain Shams University, Cairo, Egypt Faculty of Business Administration, Economics and Political Science, British University in Egypt, | ||||
| Abstract | ||||
| This paper is to investigate the influence of specific behavioral factors on financial risk tolerance (FRT) taking religiosity as a moderating variable. A standardized questionnaire was used for this study, a total of 334 completed questionnaires were used. The proposed research model was validated and assessed using structural equation modelling. The findings revealed that propensity for regret, propensity for trust, happiness in life, propensity to attribute success to luck and propensity for overconfidence, all have positive significant influence on FRT. The findings also support the religiosity position as a moderating factor in the proposed research model. FRT is a complex mechanism that entails many psychological considerations. Our results suggest that further research is needed to decide which additional factors financial advisors can use to increase the explained variance in FRT inequalities. | ||||
| Keywords | ||||
| Financial Risk Tolerance; Propensity for regert; Propensity for trust; Happiness in life; Propensity to attribute success to luck; Propensity for overconfidence; Propensity for social interaction; Religiosity | ||||
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