Determinants of the possibilities by investors’ risk-taking: Empirical evidence from Vietnam

Linh Duy Bui, Trung Chi Le, Anh Huynh Ngoc Quang, Wing-Keung Wong and David McMillan

Cogent Economics & Finance, 2021, vol. 9, issue 1, 1917106

Abstract: This paper focuses on determining the factors influencing investors’ risk-taking through empirical evidence from Vietnam. This study investigates risk perception, expected return and herding behavior, and other determinants such as historical volatility and subjective financial risk attitude; according to previous studies, these are the main components affecting risk-taking behavior among investors. Overconfidence (better than average, miscalibration, and excessive optimism) is also taken into consideration. We employ pooled-OLS and quantile regression to overcome the shortage of research models in this field. In addition, we demonstrate how risk-taking behavior can be affected by those factors with the application of measures across four different investment channels. This study suggests implications for investors who wish to control risk.

Date: 2021
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DOI: 10.1080/23322039.2021.1917106

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