Risk Taking Behavior in Relation to Self-Esteem and Individual Income of Shareholders in Dhaka City

By : Asoke Kumar Saha, Atanu Dogra, Farjana Ahmed, Arunavo Bairagi, Jannatul Ferdous Proma, Md. Zakir Hossain,, Tahmid Rafi, Parimal Kumar

Page No: 71-91

Abstract : 
The purpose of this research is to explore the impact of self-esteem and individual income on risk taking behavior. 52 shareholders were selected purposively. To collect data on Bangla version of “Risk Decision Measure” and “Self-esteem Scale” were administered on targeted population. To analyze the obtained data descriptive statistics, correlation, stepwise multiple regressions were performed. Correlation analysis (Table 2) between monthly income and self-esteem showed that, both have positive correlation (r=.425, p<0.01) which implies that monthly income increase, then self-esteem also increase. Correlation analysis between monthly income and risk-taking behavior showed that, both have positive correlation (r=.538, p<0.01) which implies that monthly income increase, then risk taking behavior also increase. Correlation analysis also showed that self-esteem and risk-taking behaviour both have positive correlation (r=.737, p<0.01) which implies that selfesteem increase, then risk taking behavior also increase. The findings also indicate that monthly income and self-esteem was the significant predictor of risk-taking behavior. These two variables accounted for 60.5% variance of risk-taking behavior. Among this variable self-esteem was the most influential predictor which alone explained 54.3% variance of risk taking behavior. The findings can be used to improve therapy methods for troubled individuals that experience issues in life due to an extreme tendency of financial risk-taking, such as gambling problems, excessive consumption habits, debt issues, or other problems.

Authors :
Asoke Kumar Saha : Professor – Department of Psychology, Jagannath University, Dhaka, Bangladesh.
Atanu Dogra : Assistant Professor – Department of Psychology, Calcutta University, India.
Farjana Ahmed : Professor – Department of Psychology, Jagannath University, Dhaka, Bangladesh.
Arunavo Bairagi : Associate Professor – Department of Psychology, Chittagong University, Bangladesh.
Jannatul Ferdous Proma : Ex-MS Student – Department of Psychology, Jagannath University, Dhaka, Bangladesh.
Md. Zakir Hossain : Ex-MS Student – Department of Psychology, Jagannath University, Dhaka, Bangladesh.
Tahmid Rafi : Ex-MS Student – Department of Psychology, Jagannath University, Dhaka, Bangladesh.
Parimal Kumar : Lecturer – Bheramara Govt. Mahila College, Bangladesh.
 

DOI: https://doi.org/10.32381/JPR.2023.18.01.9