I take risk!: a study on investments in cryptocurrencies and narcissism
Abstract
Objective: the relationship between the intention to purchase cryptocurrencies and narcissistic personality traits is analyzed, moderated by the perception of risk in the investment.
Method: to this end, research with a theoretical-empirical approach, descriptive and quantitative evaluation was applied, data collected by the survey, with 386 Brazilians, all MBA students in the business area. Descriptive statistics, hypothesis testing, correlation and logistic regression were used.
Originality/Relevance: allow the discussion of themes, which deal with the social analysis of personality psychology, specifically narcissistic traits, relating them to the analysis of risky financial investments, which enables dialogue between the academic areas of Psychology, Administration and Accounting.
Results: the findings showed a greater presence of narcissistic characteristics of self-sufficiency, authority and exploitation, which motivated a positive correlation with the intention to buy cryptocurrencies and a positive perception about the investment, even though the group admitted perceiving risks in the business. The results also confirm that the stronger the narcissistic traits, the greater the intention to purchase cryptocurrencies. The perception of risk in the business enhances the intention to purchase the digital asset. Narcissists who have already tried the business have a positive perception of the investment.
Theoretical/methodological/practical contributions: they contribute by inciting discussion about investment in cryptocurrencies and their implications in the corporate environment, especially when this investment is conducted by impulsive, self-confident individuals who take risks, such as narcissists. Furthermore, the attention of administrators, regulators and accounting professionals is drawn to the risks of investing in cryptocurrencies, which are characterized by high volatility, which are sometimes the target of financial scams and money laundering, by those who operate them, whether due to lack of governance and auditing of digital platforms or the behavior of shadowy personalities of those who operate the transactions. The debate on how business can give more confidence to those who appreciate it is relevant, without excluding the revolutionary and attractive technological nature.
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