Perfectionism influences various aspects of our lives, such as academic study, music, athletics, and work. Perfectionism has two essential facets: striving and evaluative concerns. The effect of perfectionism on financial domain was rarely examined. This study aims to investigate whether perfectionism influence tolerance for financial risk, wealth accumulation and gambling behavior. We implement a cross-sectional study with an online survey sample of 661 US residents. We conduct OLS, quantile and ordered logistic regressions as well as mediation tests to examine the relationships between the variables of interest. The results suggest three findings. First, perfectionistic striving is positively associated with financial risk tolerance, but perfectionistic concerns have no impact on financial risk tolerance. Second, perfectionistic striving (concerns) positively (negatively) predicts liquid wealth mediated by investment knowledge. Third, perfectionistic concerns inhibit gambling expenditure. This study contributes to theory by documenting that perfectionism can influence financial satisfaction or well-being. The conclusions also have important implication from a policy perspective.
This paper examines the effect of chronotype on the delinquent credit card payments and stock market participation through preference channels. Using an online survey of 455 individuals who have been working for 3 to 8 years in companies in mainland China, the results reveal that morningness is negatively associated with delinquent credit card payments. Morningness also indirectly predicts delinquent credit card payments through time preference, but this relationship only exists when individuals’ monthly income is at a low and average level. On the other hand, financial risk preference accounts for the effect of morningness on stock market participation. Consequently, an additional finding is that morningness is positively associated with financial risk preference, which contradicts previous findings in the literature. Finally, based on the empirical evidence, we discuss the plausible mechanisms that may drive these relationships and the implications for theory and practice. The current study contributes to the literature by examining the links between circadian typology and particular financial behaviour of experienced workers.
Aim The COVID-19 epidemic has caused risk and uncertainty. This study answers whether and how psychological distress and digital sports influence willingness to take the vaccine and precautionary savings. Subject and methods We conducted a cross-sectional study with an online survey sample of 1016 Shanghai residents who live and work there and are aged between 16–60. All of them experienced the COVID-19 lockdown in Shanghai. We used logistic regressions to examine the relationships between the variables of interest. Results Three findings were demonstrated. First, psychologically distressed individuals are less inclined to take the vaccine. Second, those engaged in fitness activities via digital media platforms are more willing to get vaccinated. Third, psychologically distressed individuals and digital video-based physical exercisers are more likely to precautionary save. Conclusions This study contributes to the literature by documenting how people changed their life from the perspective of finance and health during the lockdown and providing practical implications.
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