Mindful Investing: A Mediated Moderation Model of Personality Traits, Phantasy, and Investment Intentions among Institutional Investors in Pakistan

Riaz, Lubna; Qureshi, Salman Ali; Ali, Muhammad Sadil

doi:10.22059/ijms.2025.390729.677406

Mindful Investing: A Mediated Moderation Model of Personality Traits, Phantasy, and Investment Intentions among Institutional Investors in Pakistan

Articles in Press

Document Type : Research Paper

Authors

Lubna Riaz ¹

Salman Ali Qureshi ¹

Muhammad Sadil Ali ²

¹ Department of Business Administration, Faculty of Social Sciences, Allama Iqbal Open University, Islamabad, Pakistan

² Department of Commerce, Faculty of Social Sciences, Allama Iqbal Open University, Islamabad, Pakistan

10.22059/ijms.2025.390729.677406

Abstract

Emotions play a key role in decision-making, particularly for investors, who can be influenced by emotional factors that lead to irrational decisions. While financial decisions are often seen as rational, emotions impact reasoning, attitudes, and behaviors, which can affect investment strategies and risk assessments. This study emphasizes the importance of recognizing emotions in understanding investor behavior, suggesting that emotional awareness can improve decision-making, especially for risky investment intentions. It goes beyond existing literature by incorporating psychological and emotional factors, such as personality traits, unconscious emotions, phantasy, and mindfulness, to predict investment intentions. Findings from a survey of 220 mutual fund investors support the hypothesis that emotional biases affect decision-making states, emphasizing the importance of being aware of emotional states for risky investment intentions leading to sound investment decisions. Furthermore, the study emphasizes the significant influence of personality traits on the risky investment intentions, while the combination of phantasy and mindfulness with psychological factors also yields robust results. The study stresses the need to consider emotional factors for a thorough understanding of investors' intentions and decision-making behavior.

Keywords

behavioural factors

mindfulness

phantasy

personality traits

risky investment intentions

Subjects