The Impact of the Big Five Traits and Mood on Investment Performance – A Study of Individual Investors in Vietnam.

25 Pages Posted: 12 Dec 2016

See all articles by Trang T.M. Phung

Trang T.M. Phung

Hoa Sen University; Hoa Sen University

Mai Khuong

International University - Vietnam National University HCMC

Date Written: June 6, 2016

Abstract

The study explored the effects of the Big Five traits and mood on investment performance of individual investors trading on the Vietnam stock market. The author firstly used in-depth interviews for five of the investors who each have 10 years of experience of financial investment to receive their advice as well as recheck whether questions are suitable for Vietnamese situations, and then surveyed 255 investors. Results showed that Conscientiousness, Openness to experience, and Agreeableness had direct impact on investment performance. In addition, Conscientiousness, Openness, and Extraversion influenced investment performance through the mediation of positive mood. Conscientiousness, Openness and Extraversion directly affected a positive mood while Agreeableness and Neuroticism directly affected a negative mood. This study suggested that individual investors should have positive mood when investing in stocks. Moreover, investors who are prone to neuroticism rather than other traits, they refrain from investing in securities.

Keywords: mood, investment performance, personality traits, Vietnam stock market

Suggested Citation

Phung, Trang T.M. and Phung, Trang T.M. and Khuong, Mai, The Impact of the Big Five Traits and Mood on Investment Performance – A Study of Individual Investors in Vietnam. (June 6, 2016). Available at SSRN: https://ssrn.com/abstract=2883425 or http://dx.doi.org/10.2139/ssrn.2883425

Trang T.M. Phung (Contact Author)

Hoa Sen University ( email )

No 8, Nguyen Van Trang St. District 1
Ho CHi Minh City, 0084
Vietnam

Hoa Sen University ( email )

No 8, Nguyen Van Trang St. District 1
Ho CHi Minh City, 0084
Vietnam

Mai Khuong

International University - Vietnam National University HCMC

144 Xuan Thuy
Cau Giay
Hanoi, 84
Vietnam

Do you have negative results from your research you’d like to share?

Paper statistics

Downloads
601
Abstract Views
2,419
Rank
82,678
PlumX Metrics