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Risk-taking to restore negative self-view: The effect of autonomy and subjective business on financial risk-taking

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  • Zhang, Mingyue
  • Chen, Haipeng (Allan)

Abstract

This study examines the influence of autonomy on consumers’ financial risk-taking. Building on various streams of marketing and social psychology literature, we propose that low (vs. high) autonomy increases financial risk-taking, whereas busyness reverses this effect. We further demonstrate that an increased desire for power and status mediates the effect of low autonomy on financial risk-taking. However, in the presence of subjective busyness, highly autonomous consumers are more risk-taking because of an increased sense of power. Five studies, including one involving real money, are conducted to provide empirical support for these predictions.

Suggested Citation

  • Zhang, Mingyue & Chen, Haipeng (Allan), 2024. "Risk-taking to restore negative self-view: The effect of autonomy and subjective business on financial risk-taking," Journal of Business Research, Elsevier, vol. 176(C).
    • Handle: RePEc:eee:jbrese:v:176:y:2024:i:c:s0148296324000985
    DOI: 10.1016/j.jbusres.2024.114594
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