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

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  • Rai, Dipankar
  • Lin, Chien-Wei (Wilson)

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.

Suggested Citation

  • Rai, Dipankar & Lin, Chien-Wei (Wilson), 2019. "The influence of implicit self-theories on consumer financial decision making," Journal of Business Research, Elsevier, vol. 95(C), pages 316-325.
    • Handle: RePEc:eee:jbrese:v:95:y:2019:i:c:p:316-325
    DOI: 10.1016/j.jbusres.2018.08.016
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    References listed on IDEAS

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