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| Correlations Between Investors' Personality Traits and Preferred Sources of Information Regarding Fund Investments
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Mei-Hua Chen, Chien-Mei Hsiao,
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Abstract:
The COVID-19 pandemic has had a strong effect on the global economy. It has led to market volatility, with the rate of salary increase being lower than the rate of inflation. This scenario has encouraged investors to engage in fund trading to generate excess returns. Before investors make investments, financial institutions subject them to investment risk profile assessments in accordance with relevant regulations so that suitable investment funds can be selected for them. This study examines the correlations between investors' personality traits and preferred sources of information regarding fund investments. We explore the information sources that investors with different personality traits depend on and examine the demographic differences in investors' personality traits and preferred information sources. A questionnaire survey is conducted among individuals with fund investment experience. The results of this survey reveal that investors' personality traits, particularly extraversion and conscientiousness, are correlated with their preferred information source. In addition, investors with different genders, ages, and marital statuses exhibit significantly different personality traits. Significant differences in information sources are found between those with different ages, fund investment experience, and investment risk profiles. The results of this research provide insights for the development of a comprehensive test for investment risk profile assessment. Increases in fund trading volume, customer satisfaction, and operational revenue growth can be achieved using questionnaire items related to behavioral finance to understand the correlations between investors' personality traits and preferred sources of information regarding fund investments.
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