Financial decision making is generally characterized by high degree of risk, uncertainty as well as complexity. Decision making in financial markets takes under consideration a stack of factors including personal, technical and situational factors and above all it necessitates an understanding of human instinct on the top of financial skills. In the broad arena of literature, research studies have proposed two primary themes of decision making-one is the rational approach and the another one is irrational or bounded rationality approach. Rational world presupposes being reasonable in every aspect and making unbiased decisions. Irrationality approach contents that investor behaviour is driven by emotions even if they are well informed. This research paper by using the relevant literature in the field of behavioural decision making and investor psychology, provides an overview of these two distinctive academic doctrines, which clears the way-out that how in actual world people undertake their decision making. Furthermore, this research paper reviews how behavioural biases can lead to errors in investment decision making.
This article presents the System Generalized Method of Moments (SGMM) results on the empirical association between innovation and corporate governance for a panel data set of 88 manufacturing companies in India listed on the NSE 200 Index from 2014 to 2020. GMM approach controls the potential sources of endogeneity inherent in the innovation—corporate governance relationship which mainly arises due to unobserved heterogeneity and simultaneity bias. We empirically analyze corporate governance and innovation to understand the market value of research and development practices of manufacturing companies in India. Our results indicate that Board size, Board meetings, and CEO duality support the “value creation” hypothesis of corporate governance of manufacturing companies in India. However, ownership concentration and Board meeting contradict “value creation hypotheses.” Therefore, this study identifies various factors of corporate governance that can help manufacturing companies in India in innovation and growth options. Further, this study recommends that ownership concentration and Board meetings should be properly assessed, as the concentrated owners should not merely act as expropriates, but rather should enable the long-term sustainability of the firm by taking the initiative, which enhances growth.
Objectives: This study aimed to reveal the traits of n-power, illusory superiority, and Schadenfreude through Pub-G and also check the relationship between these traits. Simultaneously, the predictive role of Time spent on Pub-G on these traits was explored. Method: A total of 154 Pub-G users (males 79.2%, 25 females 15.7%) participated in this study and were asked to fill out the questionnaire through an online mode via emails and WhatsApp. The questionnaire included demographic information and traits-related statements of Pub-G users. The statements were framed for the dimensions- “traits of n-power”, “illusory superiority”, and “Schadenfreude”. Results: The results exhibited a significantly positive correlation in all the three combinations i.e, a good correlation between n-Power and Illusory Superiority, a Moderate Correlation between Illusory Superiority and Schadenfreude, and a low correlation between n-Power and Schadenfreude. We also found that time spent on PUB-G for more than 4hrs significantly predicted Illusory Superiority, n-Power, and Schadenfreude but the overall variance explained in Schadenfreude by Time intervals was found to be insignificant. However, time intervals below 4hrs showed mixed results on these three variables. Conclusion: The current study is centered on the role of varied time intervals in playing Pub -G on different Socio-Cognitive traits (Illusory Superiority, n-Power, and Schadenfreude) and also how these traits are correlated to each other. We found a substantial role of time in revealing the traits but it’s highly suggested to look for other determinants like Locus of Control, Time Paradox, and many other social and cognitive factors.
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