Banca de QUALIFICAÇÃO: ANNA CECILIA CHAVES GOMES

Uma banca de QUALIFICAÇÃO de DOUTORADO foi cadastrada pelo programa.
DISCENTE : ANNA CECILIA CHAVES GOMES
DATA : 27/07/2016
HORA: 17:00
LOCAL: NEPSA II
TÍTULO:

INTER-RELATIONSHIP OF BIASES IN BEHAVIORAL FINANCE IN THE BRAZILIAN REALITY

PALAVRAS-CHAVES:

Keywords: Behavioral Finance; Heuristics; Biases.

PÁGINAS: 220
GRANDE ÁREA: Ciências Sociais Aplicadas
ÁREA: Administração
RESUMO:

Numerous studies have proved that the decision making is subject to the presence of systematic bias of the normative reasoning. Although numerous biases have been repeatedly observed, some is confused as to its empirical results, others are usually observed together and many can still occurring from different biases or be reinforced therefrom. Based on the foregoing, the present study is to analyze the biases of interrelationship in Behavioral Finance to the Brazilian reality. For this it was built a questionnaire with 2,843 participants from 22 public universities that measured the Representativeness Heuristic, Anchoring, Availability Heuristic, Illusion of Control, Loss Aversion, Overconfidence, Optimism, Endowment Effect, Affect Heuristic, Conjunction Fallacy, Framing Effect, Mental Accounting, Disposition Effect, System 1 (intuitive) and System 2 (rational). The scales were validated and analyzed by a Confirmatory Factor Analysis to then be applied the Structural Equation Modeling Analysis (SEM) and invariance tests for subsamples of different genres and areas of vocational training. Among the scales used, only the Loss Aversion was not subject to validation, probably due to this be an original clipping (too big to be included). Only Overconfidence, Optimism and Pessimism shown to be related to both systems, being optimistic people more strongly intuitive and the pessimistics more rational. The Affect Heuristic and Endowment Effect have their occurrence related to System 1, stressing that this would have a predominant role in biases of emotional attachment. The same happened with the Representativeness, as the activation of the association with stereotype is automatic from the intuitive system. Bound only to the System 2 it has the Anchoring and Disposition to Maintain, confirming that the first occur more by a deliberate adjustment process than for a priming and that people using more rational would be more likely to decide for maintaining a asset than disburse loss. It was also confirmed that the cause of the Disposition Effect would be linked to Mental Accounting and that to the Framing Effect and that the Availability Heuristic could be responsible for the occurrence of the Conjunction Fallacy. Regarding the invariance analysis it has a weak invariance between different genres and strong as the training areas.

MEMBROS DA BANCA:
Presidente - 1543333 - ANDERSON LUIZ REZENDE MOL
Externo ao Programa - 2290876 - ANTÔNIO ALVES FILHO
Externo ao Programa - 2610882 - DIOGO HENRIQUE SILVA DE LIMA