The influence of implicit self-theories on consumer financial decision making

Dipankar Rai and Lin, Chien-Wei (Wilson)

Journal of Business Research, 2019, vol. 95, issue C, 316-325

Abstract: This research investigates the influence of implicit self-theories of personality on consumers' financial decisions. We show that consumers who believe that personality traits are malleable (i.e., incremental theorists) prefer riskier investments because they are promotion-focused. However, consumers who believe that personality traits are fixed (i.e., entity theorists) prefer risk-averse investments because they are prevention-focused. Furthermore, we demonstrate the mediating role of a regulatory focus by both measuring and manipulating this construct. The theoretical and managerial implications of our research are discussed.

Keywords: Implicit self-theories; Mindset; Financial risk-seeking; Regulatory focus (search for similar items in EconPapers)
Date: 2019
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Citations: View citations in EconPapers (6)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:jbrese:v:95:y:2019:i:c:p:316-325

DOI: 10.1016/j.jbusres.2018.08.016

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