The mediating role of perception in the relationship between personality traits and stock investment performance

Abstract

This study aims to explore the impact of risk perception and uncertainty perception on the stock investment performance of individual investors. A survey approach was employed, based on valid responses from 250 individual investors, and the research model was analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM). The results indicate that personality traits such as conscientiousness, agreeableness, and neuroticism positively affect investment performance through the mediating factors of risk perception and uncertainty perception. Furthermore, the study also reveals that the other two traits in the Big Five model, openness to experience and extraversion, do not show a significant impact on the investment performance of investors in Vietnam’s stock market.