Impact of Cultural Values on Investment Intentions: Mediated by Phantasy and Moderated by Mindfulness, A Study of Institutional Investors of Pakistan
Keywords:
behavioural factors, emotions, phantasy, cultural values, mindfulness, risky investment intentionsAbstract
The study challenges the conventional notion of rational financial decision-making, recognizing the pivotal role of emotions in shaping investors' intentions. Emotions influence the evaluation of risky investments, serving as efficient shortcuts in a world flooded with information. The research extends existing literature by integrating various psychological and emotional factors, including cultural values, unconscious emotion, phantasy, and mindfulness, to predict investment intentions. Through a survey of 220 mutual fund investors, the findings support the hypothesis that emotional biases impact decision-making states, emphasizing the importance of being aware of emotional states for sound investment decisions. Cultural values significantly influence risky investment intentions, while the combination of phantasy and mindfulness with psychological factors yields robust results. The study emphasizes the need to consider emotional factors for a thorough understanding of investors' decision-making behavior.