Long-term investors with enhanced well-being? Comparing personality traits by investment assets

Hitsuwari, Jimpei; Kumagai, Motoki

doi:10.21203/rs.3.rs-5412013/v1

Long-term investors with enhanced well-being? Comparing personality traits by investment assets

Publication date

2024-11-12

Document type

Preprint

Author

Hitsuwari, Jimpei

Kumagai, Motoki

Organisational unit

Allgemeine und Biologische Psychologie

DOI

10.21203/rs.3.rs-5412013/v1

URI

https://openhsu.ub.hsu-hh.de/handle/10.24405/22935

Publisher

Research Square

Part of the university bibliography

✅

Language

English

Abstract

In the current era of increasing life expectancy, investment has become increasingly important for long-term financial stability and well-being. While previous research focused on risk tolerance and financial literacy among investors, little is known about the psychological characteristics of different types of investors and their relationships with well-being. This study investigated how different types of investment behavior relate to long-term orientation and psychological well-being. We compared four groups: long-term stock investors (investors in funds conceptualized around long-term investments), general stock investors, cryptocurrency investors, and non-investors. The participants completed measures of long-term orientation, life satisfaction, ikigai (sense of life worth living), positive emotions, and attitudes toward ambiguity. While no significant differences were found in long-term orientation across groups, the investment groups showed higher life satisfaction and ikigai scores than non-investors. Long-term stock investors reported higher contentment and lower absolutism in attitudes toward ambiguity. Mediation analysis revealed that long-term orientation had a marginally significant mediating effect between long-term stock investment and ikigai. These findings suggest that investment behavior, particularly long-term stock investment, may contribute to psychological well-being through multiple pathways beyond financial returns. These results highlight the potential psychological benefits of investment activities and suggest that different investment approaches may foster distinct patterns of positive emotions and cognitive attitudes. This study provides novel insights into investors’ psychological characteristics and the relationship between investment behavior and well-being.

Description

This work is licensed under a CC BY 4.0 License (https://creativecommons.org/licenses/by/4.0).

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