调解
损失厌恶
股票市场
调解
风险厌恶(心理学)
库存(枪支)
货币经济学
经济
金融危机
业务
心理学
金融经济学
微观经济学
社会心理学
期望效用假设
宏观经济学
工程类
古生物学
马
法学
生物
机械工程
政治学
作者
Mohammad Tariqul Islam Khan
标识
DOI:10.1007/s43546-022-00259-6
摘要
This study explores whether prior perceived losses affect investment objectives via loss aversion as a mediator and whether the indirect effect is moderated by risk tolerance in a moderated-mediation model. Using retail investors who witnessed a market crash in Bangladesh and experienced losses, the model is tested by employing regression analyses and conditional process. The analyses reveal that prior perceived losses indirectly affect investment objectives (earning a higher expected return and building a financial reserve for future expenses) via mediation of loss aversion. Moderated-mediation model shows that for high-risk-tolerant investors, prior perceived losses indirectly affect investors to invest more for achieving a higher expected return objective and less to achieving building a financial reserve for future expenses, via a low level of loss aversion. These suggest that risk-tolerant investors continue to invest to earn a higher expected return even though they experienced prior losses and are loss-averse.The online version contains supplementary material available at 10.1007/s43546-022-00259-6.
科研通智能强力驱动
Strongly Powered by AbleSci AI