| dc.description.abstract | The main purpose of this study is to clarify the effect of Big Five personality and risk
tolerance to herding bias. This result is based on 303 valid data collected by the
psychology method to reduce the most bias on psychology questionnaires problems:
misunderstanding themselves and choosing to positive statement. To clarify the
hypothesized model, Structural Equation Model (SEM) are used to analyze and
evaluate. The analysis results reveal that the five elements of Personality have both
relationships with Risk tolerant and Herding bias which conduct at negative affection
to each other. In other words, these traits have direct impact to risk taking and
decision making of Vietnamese investors. In conclusion of the study, not only
Conscientiousness is immune as Herding, but Neuroticism also is, moreover,
Neuroticism shows the emotion appeal to draw at Risk. Extraversion and
Agreeableness dominated in Risk seeking and uninterested in following anyone else.
In the stark contrast, however, Openness tended to be risk averse and follow the trend.
Key words: Traits, Risk Tolerant, Herding Bias, Behavioral Finance, Psychology,
Vietnamese Investor | en_US |
