Table 2.
The results of path analyses using HLM regressions
| Dependent variables | Expectancy judgment | Valence judgment | Progress judgment | Generative orientation | Effort | Persistence |
|---|---|---|---|---|---|---|
| Control variables | ||||||
| Stock market movement | 0.03c (0.08d)*** | 0.01 (0.03) | 0.02 (0.02) | 0.07 (0.13)*** | 0.06 (0.04) | 0.39 (0.02) |
| Daily performance | 0.11 (0.54)*** | 0.08 (0.33)*** | 0.29 (0.63)*** | −0.07 (−0.21)*** | 0.06 (0.07) | 0.29 (0.02) |
| Generative orientationa | −0.02 (−0.01) | −1.54 (−0.04) | ||||
| Efforta | −0.00 (−0.01) | −3.21 (0.21)*** | ||||
| Persistencea | −0.00 (−0.03) | −0.01 (−0.20)*** | ||||
| Goalb | 0.03 (0.07)*** | −0.12 (−0.01) | ||||
| Predictor variables | ||||||
| Pleasantness | 0.09 (0.10)*** | 0.03 (0.03) | 0.43 (0.23)*** | 0.02 (0.01) | −0.07 (−0.01) | 0.76 (0.01) |
| Activation | 0.04 (0.03) | 0.09 (0.07)** | 0.05 (0.02) | 0.04 (0.02) | 0.40 (0.07)** | 0.86 (0.01) |
| Expectancy judgment | 0.18 (0.11)*** | 0.36 (0.08)** | 0.74 (0.01) | |||
| Valence judgment | 0.06 (0.04) | 0.36 (0.09)*** | 2.08 (0.03) | |||
| Progress judgment | −0.04 (−0.05) | 0.04 (0.02) | 3.24 (0.10)** | |||
| Variance explained % | 33.2% | 12.2% | 56.2% | 9.8% | 12.0% | 4.6% |
N = 1870 cases nested within 101 participants.
a
This variable was controlled when another behavioral outcome variable was examined as an endogenous variable.
b
This variable, performance goal, was controlled when the hypothesized effects of progress judgment were examined.
c
Gamma (γ) = unstandardized HLM regression coefficient.
d
Beta (β) = standardized regression coefficient (=Gamma (Sx/Sy)).
*
p <0.05;
**
p <0.01;
***
p <0.001.