Political identity and financial risk taking: Insights from social dominance orientation

Kyuhong Han, Jihiye Jung, Vikas Mittal, Jinyong Zyung, Hajo Adam

Research output: Contribution to journalArticle

9 Citations (Scopus)
56 Downloads (Pure)

Abstract

This article investigates how people’s political identity is associated with their financial risk taking. The authors argue that conservatives’ financial risk taking increases as their self-efficacy increases because of their greater social dominance orientation, whereas liberals’ financial risk taking is invariant to their self-efficacy. This central hypothesis is verified in six studies using different measures of political identity, self-efficacy, and financial risk taking. The studies also use different samples of U.S. consumers, including online panels, a large-scale data set spanning five election cycles, and a secondary data set of political donations made by managers at companies. Finally, the authors articulate and demonstrate the mediating effect of individuals’ focus on the upside potential of a decision among conservatives but not liberals.
Original languageEnglish
Pages (from-to)581-601
Number of pages21
JournalJournal of Marketing Research
Volume56
Issue number4
Early online date13 Mar 2019
DOIs
Publication statusPublished - 1 Aug 2019

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