Anxiety and Stress among Day Traders in Saudi Arabia
Abstract
:1. Introduction
2. Materials and Methods
2.1. Study Designs
2.2. Participants & Sampling
2.3. Study Questionnaire
2.4. Statistical Data Analysis
3. Results
4. Discussion
5. Limitations
6. Conclusions
Author Contributions
Funding
Institutional Review Board Statement
Informed Consent Statement
Data Availability Statement
Conflicts of Interest
References
- United Nations. World Social Report 2020: Inequality in a Rapidly Changing World; UN: New York, NY, USA, 2020. [Google Scholar]
- Bennett, A. Who’s news: An economist investigates the irrationality of people. Wall Street J. 1994, B1, 1. [Google Scholar]
- Lo, A.W.; Repin, D.V.; Steenbarger, B.N. Fear and greed in financial markets: A clinical study of day-traders. Am. Econ. Rev. 2005, 95, 352–359. [Google Scholar] [CrossRef]
- Rasquinha, D.M. Assesment and management of anxiety among adolescents through relaxation and counseling. Indian J. Psychol. Sci. 2012, 3, 130–142. [Google Scholar]
- Tuttle, B. April 2018 SB 06. The Most (and Least) Stressful Jobs in Banking and Finance. eFinancialCareers. 2018. Available online: https://news.efinancialcareers.com/news/finance/the-most-and-least-stressful-jobs-in-banking-and-finance (accessed on 15 April 2022).
- Chisholm, D.; Sweeny, K.; Sheehan, P.; Rasmussen, B.; Smit, F.; Cuijpers, P.; Saxena, S. Scaling-up treatment of depression and anxiety: A global return on investment analysis. Lancet Psychiatry 2016, 3, 415–424. [Google Scholar] [CrossRef]
- Reports and Statistical Bulletins. Available online: https://cma.org.sa/en/ResearchAndReports/Reports/Pages/default.aspx (accessed on 17 August 2022).
- Rahman, M.A.; Chowdhury, S.S.H.; Shibley Sadique, M. Herding where retail investors dominate trading: The case of Saudi Arabia. Q. Rev. Econ. Financ. 2015, 57, 46–60. [Google Scholar] [CrossRef]
- Depression Anxiety and Stress Scale 21 (DASS-21)—Healthfocus Clinical Psychology Services. Available online: https://www.healthfocuspsychology.com.au/tools/dass-21/ (accessed on 16 May 2022).
- Hair, J.F.; Ringle, C.M.; Sarstedt, M. PLS-SEM: Indeed a Silver Bullet. J. Mark. Theory Pract. 2011, 19, 139–152. [Google Scholar] [CrossRef]
- Liu, B.; Govindan, R.; Uzzi, B. Do emotions expressed online correlate with actual changes in decision-making?: The case of stock day traders. PLoS ONE 2016, 11, e0144945. [Google Scholar] [CrossRef] [PubMed]
- Oberlechner, T.; Nimgade, A. Work stress and performance among financial traders. Stress Health J. Int. Soc. Investig. Stress 2005, 21, 285–293. [Google Scholar] [CrossRef]
- Camerer, C.; Loewenstein, G.; Prelec, D. Neuroeconomics: How neuroscience can inform economics. J. Econ. Lit. 2005, 43, 9–64. [Google Scholar] [CrossRef]
- Arthur, J.N.; Delfabbro, P. Day traders in South Australia: Similarities and differences with traditional gamblers. J. Gambl. Stud. 2017, 33, 855–866. [Google Scholar] [CrossRef] [PubMed]
- Elman, I.; Tschibelu, E.; Borsook, D. Psychosocial stress and its relationship to gambling urges in individuals with pathological gambling. Am. J. Addict. 2010, 19, 332–339. [Google Scholar] [CrossRef] [PubMed]
- Prableen, B. A Guide to Day Trading on Margin. Investopedia. 2021. Available online: https://www.investopedia.com/articles/active-trading/071114/guide-day-trading-margin.asp (accessed on 15 April 2022).
- Lin, S.-H.; Wang, C.-H.; Liu, T.-C.; Chen, C.-S. Stroke: A hidden danger of margin trading in stock markets. J. Urban Health 2015, 92, 995–1006. [Google Scholar] [CrossRef] [PubMed] [Green Version]
- Nguyen, T.; Schuessler, A. Investment Decisions and Socio-demographic Characteristics—Empirical Evidence from Germany. Int. J. Econ. Financ. 2012, 4, 1. [Google Scholar] [CrossRef]
- Smith, K.J.; Béland, M.; Clyde, M.; Gariépy, G.; Pagé, V.; Badawi, G.; Rabasa-Lhoret, R.; Schmitz, N. Association of diabetes with anxiety: A systematic review and meta-analysis. J. Psychosom. Res. 2013, 74, 89–99. [Google Scholar] [CrossRef]
- Johnson, H.M. Anxiety and hypertension: Is there a link? A literature review of the comorbidity relationship between anxiety and hypertension. Curr. Hypertens. Rep. 2019, 21, 66. [Google Scholar] [CrossRef] [PubMed]
- Coates, J.; Garcia, P.M. The Hour between Dog and Wolf: Risk Taking, Gut Feelings, and the Biology of Boom and Bust; Unabridged; Blackstone Audio: Ashland, OR, USA, 2012. [Google Scholar]
Estimate | Construct | Estimate λ | Cronbach’s α | AVE * | CR ** | MSV *** | CV **** | DV ***** |
---|---|---|---|---|---|---|---|---|
Stress | S1 | 0.715 | 0.84 | 0.51 | 0.88 | 0.46 | Yes | Yes |
S2 | 0.675 | |||||||
S3 | 0.778 | |||||||
S4 | 0.813 | |||||||
S5 | 0.725 | |||||||
S6 | 0.707 | |||||||
S7 | 0.572 | |||||||
Anxiety | A1 | 0.741 | 0.82 | 0.50 | 0.87 | 0.46 | Yes | Yes |
A2 | 0.764 | |||||||
A3 | 0.748 | |||||||
A4 | 0.728 | |||||||
A5 | 0.729 | |||||||
A6 | 0.726 | |||||||
A7 | 0.426 |
Number | % | |||
---|---|---|---|---|
Gender | Female | 27 | 7.0% | |
Male | 360 | 93% | ||
Age | 18–35 | 215 | 55.6% | |
36–55 | 137 | 35.4% | ||
≥56 | 35 | 9.0% | ||
Level of education | Below university | 73 | 18.9% | |
University | 249 | 64.3% | ||
Post-Graduate education | 48 | 12.4% | ||
Others | 17 | 4.4% | ||
Residence location | Southern region | 28 | 7.2% | |
Northern region | 21 | 5.4% | ||
Eastern Region | 85 | 52.2% | ||
Western Region | 51 | 13.2% | ||
Central Region | 202 | 85.0% | ||
Chronic diseases: | ||||
| No Yes | 381 6 | 98.4% 1.6% | |
| No Yes | 354 33 | 91.5% 8.5% | |
| No Yes | 362 25 | 93.5% 6.5% | |
| No Yes | 371 16 | 95.9% 4.1% |
1. Not Applicable | 2. Somewhat | 3. Most of the Time | 4. All the Time | |
---|---|---|---|---|
I find it difficult to calm down after anger | 144 (37.2%) | 141 (36.2%) | 54 (14.0%) | 48 (12.4%) |
I tend to overreact to circumstances and events | 128 (33.1%) | 174 (45%) | 65 (16.8%) | 20 (5.2%) |
I felt like I was consuming too much nervous energy and consuming too much of my nervous tension | 118 (30.5%) | 160 (41.3%) | 72 (18.6%) | 37 (9.6%) |
I felt disturbed and upset | 124 (32.0%) | 164 (42.4%) | 78 (20.2%) | 21 (5.4%) |
I find it difficult to relax and rest | 171 (44.2%) | 139 (35.9%) | 52 (13.4%) | 25 (6.5%) |
I couldn’t bear anything turning me back from what I wanted to do | 145 (37.5%) | 142 (36.7%) | 56 (14.5%) | 44 (11.4%) |
I felt inclined to get angry quickly | 257 (66.4%) | 88 (22.7%) | 12 (3.1%) | 30 (7.8%) |
1. Not Applicable | 2. Somewhat | 3. Most of the Time | 4. All the Time | |
---|---|---|---|---|
I felt dryness in my throat | 275 (71.1%) | 74 (19.1%) | 15 (3.9%) | 23 (5.It%) |
I felt hard to breathe | 261 (67.4%) | 91 (23.5%) | 10 (2.6%) | 25 (6.5%) |
I felt trembling in the hands | 236 (61.0%) | 97 (25.1%) | 19 (4.9%) | 35 (9.0%) |
I was afraid of situations where I might lose control of my nerves and cause myself the embarrassment. | 265 (68.5%) | 83 (21.4%) | 18 (4.7%) | 21 (5.4%) |
I felt on the verge of falling into sudden terror for no reason | 237 (61.2%) | 96 (24.8%) | 18 (4.7%) | 36 (9.3%) |
I felt my heart beat faster without any physical effort | 227 (58.7%) | 103 (26.6%) | 17 (4.4%) | 40 (10.3%) |
1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
1 | 1 | 0.318 ** | 0.463 ** | 0.584 ** | 0.469 ** | 0.391 ** | 0.318 ** | 0.213 ** | 0.264 ** | 0.397 ** | 0.294 ** | 0.329 ** | 0.456 ** | 0.354 ** |
2 | 1 | 0.522 ** | 0.437 ** | 0.354 ** | 0.465 ** | 0.301 ** | 0.251 ** | 0.297 ** | 0.330 ** | 0.301 ** | 0.233 ** | 0.244 ** | 0.418 ** | |
3 | 1 | 0.601 ** | 0.415 ** | 0.436 ** | 0.407 ** | 0.244 ** | 0.323 ** | 0.390 ** | 0.271 ** | 0.264 ** | 0.337 ** | 0.403 ** | ||
4 | 1 | 0.497 ** | 0.515 ** | 0.345 ** | 0.338 ** | 0.344 ** | 0.416 ** | 0.364 ** | 0.324 ** | 0.338 ** | 0.357 ** | |||
5 | 1 | 0.485 ** | 0.406 ** | 0.296 ** | 0.320 ** | 0.437 ** | 0.425 ** | 0.355 ** | 0.502 ** | 0.375 ** | ||||
6 | 1 | 0.221 ** | 0.319 ** | 0.301 ** | 0.441 ** | 0.380 ** | 0.369 ** | 0.322 ** | 0.342 ** | |||||
7 | 1 | 0.351 ** | 0.289 ** | 0.366 ** | 0.273 ** | 0.239 ** | 0.331 ** | 0.237 ** | ||||||
8 | 1 | 0.565 ** | 0.427 ** | 0.462 ** | 0.478 ** | 0.409 ** | 0.214 ** | |||||||
9 | 1 | 0.531 ** | 0.444 ** | 0.458 ** | 0.421 ** | 0.238 ** | ||||||||
10 | 1 | 0.443 ** | 0.484 ** | 0.451 ** | 0.271 ** | |||||||||
11 | 1 | 0.430 ** | 0.528 ** | 0.190 ** | ||||||||||
12 | 1 | 0.440 ** | 0.224 ** | |||||||||||
13 | 1 | 0.281 ** | ||||||||||||
14 | 1 |
Min | Max | M | SD | Skewness | Kurtosis | |
---|---|---|---|---|---|---|
Stress score | 0.00 | 40.00 | 12.72 | 9.14 | 0.71 | 0.04 |
Anxiety score | 0.00 | 40.00 | 8.62 | 8.63 | 1.32 | 1.27 |
Age | Education | Gender | Heart Disease | Diabetes | Hypertension | Other | |
---|---|---|---|---|---|---|---|
χ2 (p) | χ2 (p) | χ2 (p) | χ2 (p) | χ2 (p) | χ2 (p) | χ2 (p) | |
I find it difficult to calm down after anger | 9.43 (0.151) | 39.40 (<0.001) | 1.96 (0.580) | 0.16 (0.983) | 4.71 (0.194) | 19.68 (<0.001) | 1.19 (0.756) |
I tend to overreact to circumstances and events | 10.79 (0.095) | 20.94 (0.013) | 3.05 (0.383) | 4.21 (0.239) | 0.84 (0.839) | 10.12 (0.018) | 7.73 (0.052) |
I felt like I was consuming too much nervous energy | 16.92 (0.010) | 21.01 (0.013) | 3.87 (0.276) | 3.19 (0.371) | 5.53 (0.137) | 5.34 (0.148) | 10.04 (0.018) |
I felt disturbed and upset | 6.73 (0.347) | 8.34 (0.500) | 0.33 (0.954) | 5.72 (0.126) | 3.19 (0.363) | 10.43 (0.015) | 10.43 (0.015) |
I find it difficult to relax and rest | 8.51 (0.203) | 27.56 (0.001) | 1.42 (0.700) | 7.81 (0.050) | 1.80 (0.614) | 9.34 (0.025) | 1.57 (0.667) |
I couldn’t bear anything turning me back from what I wanted to do | 25.98 (<0.001) | 4.79 (0.852) | 1.81 (0.614) | 3.23 (0.358) | 5.12 (0.163) | 11.56 (0.009) | 7.33 (0.062) |
I felt inclined to get angry quickly | 24.58 (<0.001) | 33.68 (<0.001) | 2.15 (0.541) | 2.90 (0.407) | 3.00 (0.391) | 21.57 (<0.001) | 7.06 (0.070) |
Age | Education | Gender | Heart Disease | Diabetes | Hypertension | Other | |
---|---|---|---|---|---|---|---|
χ2 (p) | χ2 (p) | χ2 (p) | χ2 (p) | χ2 (p) | χ2 (p) | χ2 (p) | |
Stress Level | 16.34 (0.38) | 27.27 (0.007) | 1.47 (0.831) | 1.38 (0.848) | 4.22 (0.377) | 15.05 (0.005) | 14.30 (0.006) |
Anxiety Level | 10.04 (0.262) | 21.58 (0.043) | 3.14 (0.535) | 2.92 (0.571) | 1.17 (0.882) | 7.06 (0.133) | 9.05 (0.060) |
Publisher’s Note: MDPI stays neutral with regard to jurisdictional claims in published maps and institutional affiliations. |
© 2022 by the authors. Licensee MDPI, Basel, Switzerland. This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license (https://creativecommons.org/licenses/by/4.0/).
Share and Cite
Bin Abdulrahman, K.A.; Alsharif, A.Y.; Alotaibi, A.B.; Alajaji, A.A.; Alhubaysh, A.A.; Alsubaihi, A.I.; Alsubaie, N.E. Anxiety and Stress among Day Traders in Saudi Arabia. Int. J. Environ. Res. Public Health 2022, 19, 11252. https://doi.org/10.3390/ijerph191811252
Bin Abdulrahman KA, Alsharif AY, Alotaibi AB, Alajaji AA, Alhubaysh AA, Alsubaihi AI, Alsubaie NE. Anxiety and Stress among Day Traders in Saudi Arabia. International Journal of Environmental Research and Public Health. 2022; 19(18):11252. https://doi.org/10.3390/ijerph191811252
Chicago/Turabian StyleBin Abdulrahman, Khalid A., Abdulaziz Yahya Alsharif, Abdulrahman Bandar Alotaibi, Abdulrahman Ali Alajaji, Abdullah Ali Alhubaysh, Abdulrahman Ibrahim Alsubaihi, and Nahaa Eid Alsubaie. 2022. "Anxiety and Stress among Day Traders in Saudi Arabia" International Journal of Environmental Research and Public Health 19, no. 18: 11252. https://doi.org/10.3390/ijerph191811252