Age Differences in Risk-Taking Behaviour among Business People: The Mediating Role of Mindfulness Practices

Abstract

Risk-taking behaviour plays an important role in business growth, decision-making, and long-term success, but it may differ across individuals due to age and psychological factors. The present study examined whether risk-taking behaviour of business people is associated with age and whether this relationship is mediated by mindfulness practices. A quantitative correlational design was used. The sample consisted of 175 business people (97 males and 78 females) with a mean age of 36 years, selected from Begusarai and Madhubani districts of Bihar through purposive and snowball sampling. Data were collected using the Domain-Specific Risk-Taking Scale (DOSPERT) and the Mindful Attention Awareness Scale (MAAS). Pearson correlation and mediation analysis were applied. Results indicated a significant negative association between age and risk-taking behaviour (r = -0.36, p < .01), showing that risk-taking decreased with increasing age. Age was positively related to mindfulness practices (r = 0.41, p < .01), and mindfulness showed a significant negative relationship with risk-taking behaviour (r = -0.29, p < .01). Mediation analysis supported that mindfulness partially mediated the relationship between age and risk-taking. The findings suggest that mindfulness practices may serve as a psychological mechanism explaining age-based differences in business risk decisions. Mindfulness-based interventions can be explored as a practical tool for improving decision quality among business professionals.