TY - JOUR T1 - Conscientiousness and Performance: The Influence of Personality on Investment Decisions JF - The Journal of Wealth Management SP - 17 LP - 44 DO - 10.3905/jwm.2023.1.199 VL - 25 IS - 4 AU - Tobias Lauter AU - Marcel Prokopczuk AU - Stefan Trück Y1 - 2023/01/31 UR - https://pm-research.com/content/25/4/17.abstract N2 - We extract proxies for trader conscientiousness from plain text to explain the cross-section of individual and institutional trader performance. The literature claims conscientiousness to be a main determinant of workplace performance. We employ measures like text length, error frequency, sentence simplicity, and lexical diversity to construct a conscientiousness index. Our findings suggest that more conscientious traders outperform their peers on a risk-adjusted basis. This implies that personality affects investment decisions. Our data stems from a web-based platform that gives individuals the opportunity to set up small investment funds other users can invest in. ER -