An Intimate Portrait of the Individual Investor

42 Pages Posted: 16 Mar 2006

See all articles by Robert B. B. Durand

Robert B. B. Durand

Curtin University of Technology - School of Economics and Finance - Department of Finance and Banking

Rick Newby

The University of Western Australia - Department of Accounting and Finance

Jay P Sanghani

The University of Western Australia - Department of Accounting and Finance

Date Written: March 2006

Abstract

We established that there are statistically significant relationships between personality and both investment decisions and portfolio performance. We found significant associations with personality traits captured by Costa and McRae's (1992) operationalisation of Norman's (1963) 'Big Five' (Negative Emotion, Extraversion, Openness to Experience, Agreeableness and Conscientiousness), Bem's (1977) psychological gender traits (Masculinity and Femininity) and Jackson's (1976) personality traits of Preference for Innovation and Risk Taking Propensity.

Keywords: Behavioral Finance, Norman's 'Big Five', Psychological Gender

JEL Classification: G12

Suggested Citation

Durand, Robert B. B. and Newby, Rick and Sanghani, Jay P, An Intimate Portrait of the Individual Investor (March 2006). Available at SSRN: https://ssrn.com/abstract=887441 or http://dx.doi.org/10.2139/ssrn.887441

Robert B. B. Durand (Contact Author)

Curtin University of Technology - School of Economics and Finance - Department of Finance and Banking ( email )

Bentley 6102 WA
Australia

HOME PAGE: http://tiny.cc/y85rh

Rick Newby

The University of Western Australia - Department of Accounting and Finance ( email )

School of Business
35 Stirling Highway
Crawley, Western Australia 6009
Australia

Jay P Sanghani

The University of Western Australia - Department of Accounting and Finance ( email )

School of Business
35 Stirling Highway
Crawley, Western Australia 6009
Australia

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