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the effect of gender on the link between the variable
happiness and the value of the investments.
2 LITERATURE REVIEW
2.1 Happiness
Psychology literature contains no universal
definition of happiness. Happiness is a subjective
condition felt by someone who is experiencing
satisfaction with life, contentment and wellbeing
(Ryan and Deci, 2001). According to Kahneman
(1999), in order to know whether someone is happy
or not, they should be cognitively evaluated. This
means that, in order to determine whether someone
is in a happy condition or not, this needs to be self-
determined by the subject.
2.2 Optimism
Various research in the literature states that
happiness fosters optimism. Circular conditions can
occur where, in the end, optimism will also result in
success and will ultimately return and impact on
levels of happiness.
Optimism or positive thinking is the key to
success and happiness. Research has also shown that
positive thinking can reduce the pressure of
increasing emotional wellbeing and cardiovascular
health (Wellner and Adox, 2000).
Optimism is how someone reacts to social failure
in their life (Myers, 2008). A stressful situation
experienced by an individual can result in a loss of
willingness to make an effort. The existence of
optimism can change the negative feeling in order to
achieve maximum results. According to McGinnis
(1995) people who are optimistic have 12 defining
characteristics, as follows:
1. Optimistic people are rarely surprised by
difficulty.
2. Optimistic people look to problem-solve.
3. Optimists feel confident that they have control
over their futures.
4. Optimistic people give regular updates.
5. Optimistic people put a stop to their negative
thoughts.
6. Optimism increases the power of appreciation.
7. Optimists use their imagination to train for
success.
8. Optimists are always happy, even when they do
not feel happy.
9. Optimists feel confident that they have an almost
unlimited ability to extend themselves.
10. Optimists foster lots of love in their lives.
11. Optimists like to exchange good news.
12. Optimists accept what cannot be changed.
Optimistic individuals will tend to be confident
about their decisions and in their abilities. Chang
(2002) defines optimism as an individual
expectation of good things. In other words, optimists
are individuals who expect good events to happen in
their future lives.
Scheier and Carver (2002) state that optimism is
the dispositional tendency of individuals to have
positive expectations overall, even though they may
face misfortune or difficulties in life.
Optimism is an attitude of always having good
expectations of everything and the tendency to
expect a pleasant outcome. In other words, optimism
is a way of thinking or a paradigm of positive
thinking (Carver and Scheier, 1993).
Scheier and Carter also state that an optimist is a
person who has good expectations of their future
lives. Their futures include positive goals and
expectations that cover all aspects of life (as cited in
Snyder, 2002).
2.3 Gender
Gender is theoretically different from biological sex
in how it distinguishes between men and women. In
this study, gender measurement is conducted using a
traditional concept. This concept measures gender
on a continuum, going from “very masculine” up to
“very feminine.”
Gender concepts have evolved. The gender
dimension now not only splits issues into a
masculine vs. feminine dichotomy; rather, each
continuum can also be separated into stages between
“very masculine” and “not very masculine”.
However, there are no degrees to feminine
measurement at all, until “very feminine”.
Considering the simplicity and focus of this
research (in that it only considers aspects of
behavioral research in accounting) it uses a
traditional measurement of gender. This only
considers the traits of masculine versus feminine
behavior, comparing “very masculine” conditions to
those that are “very feminine”.
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