Impact of conscious and unconscious processes on financial decision-making

Autor: Aren, Selim, Hamamci, Hatice Nayman
Zdroj: Middle East Journal of Management; 2024, Vol. 11 Issue: 1 p43-69, 27p
Abstrakt: This study investigates the effect of coping strategies on risky investment intention, together with narratives and phantasy, which are important concepts of emotional finance. Coping strategies are a conscious process that has an impact on financial decisions that cause stress in individuals. Phantasy is an unconscious process and its effect on financial decisions has been shown in previous studies. Narratives are closely related to coping strategies and phantasy. In this context, this study is the first to investigate the effects of both conscious and unconscious processes on financial decision-making. In this study, a positive relationship was found between coping strategies and risky investment intentions. There are positive relationships between coping strategies and narrative and phantasy. At the same time, narrative has a mediating effect on the relationship between coping strategies and phantasy. In addition, the mediating effect of phantasy was determined in the relationship between coping strategies and risky investment intentions.
Databáze: Supplemental Index