Abstract
Although the issue of gender differences in risk taking behavior has been an interesting issue of industrial and organizational psychology fields, there is no univocal agreement on this topic. In this paper, we try to find supportive evidence that gender affects risk-taking behavior that is moderated by the frame. In addition, we extend the previous findings by adding variables such as ambition, responsibility, and internal locus of control. As expected, gender and frame interact to influence risk-taking behavior, such that positively framed men are prone to take more risks, whereas negatively framed women prefer risk-taking options. In addition, ambition and the level of internal locus of control are positively related to risk-taking behavior, while responsibility level is negatively related to risk-taking behavior. The implications and limitations of findings are discussed.
Highlights
This paper predicted that gender influences risk-taking behavior, moderated by the frame. By testing this hypothesis using non-parametric binomial test, we proved that in the loss frame females are more risk-taking than males, and in the gain frame males are more risk-taking than the females
Our study revealed the process how gender influences risk-taking behavior by investigating 3 mediators: ambition, internal locus of control, and responsibility
We found that ambitious people are less responsible, but have higher degrees of internal locus of control; and responsible people tend to have lower level of internal locus of control
Summary
Total sample size is 200 people (Koreans: 58, foreigners: 142). One hundred people were asked. These items are as follows: “Do you desire to be an important person in your organization?”, “Do you set your aspirations low in order to avoid disappointments?”, “Would you compare your ability and time needed to execute the construction project with that of your colleagues?”, “Would you get excited when you are telling someone about your future plans to build sport complexes? Respondents were asked to rate the items on a seven-point Likert scale (1 = not at all, 7 = completely). Situation, do you believe that the outcome depends only on your hard work, persistence and ability?”
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