The effect of state and trait power on financial risk-taking: The mediating and moderating roles of optimism.

ABSTRACT: The research aimed to further develop knowledge on the mechanisms that enhance risk-taking propensities among powerful people. Three studies (N1 = 328, N2 = 388, N3 = 267) investigated the role of optimism in the relationship between sense of power and financial risk-taking, controlling for the state of power. Study 1, correlational, analyzed whether the relationship between sense of power and risky financial choices is serially mediated by general optimism and financial risk perception. The results confirmed the initial hypotheses. The second, experimental, study investigated the role of states of power and lack of power in explaining people's financial decisions as well as their influence on people's situational optimism and perception of risk. The results indicated that people in a stat

SUBMITTER: Sekscinska K 

PROVIDER: S-EPMC9621424 | biostudies-literature | 2022

REPOSITORIES: biostudies-literature