Download or read book Overconfidence in SMEs written by Anna Invernizzi and published by Springer. This book was released on 2017-09-19 with total page 94 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents a review of the role of overconfidence in small firms and explores how biased judgment and decision-making can affect business performance. Whilst the overconfidence construct has been studied in detail, there are no systematic reviews of its role in SMEs as of yet. Examining the decisions made by entrepreneurs, this study offers clear solutions on how to improve business accuracy, reduce disadvantageous investments and prevent bankruptcy. Providing an empirical analysis of overconfidence in the sport industry, this new book will not only be of interest to academics of entrepreneurship and small enterprises, but also to sport managers.

Download or read book The Bright Side of Overconfidence an Empirical Investigation of the Implications of CEO Overconfidence in SMEs written by Irina Karthaus and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Managerial Overconfidence Different Thinking through Different Education written by Maximilian Margolin and published by Anchor Academic Publishing (aap_verlag). This book was released on 2014-02-01 with total page 82 pages. Available in PDF, EPUB and Kindle. Book excerpt: In literature, overconfidence has been blamed for economic bubbles and crises as well as for international conflicts and wars. While education has already been shown to impact one’s level of overconfidence previous research focused on the length and profoundness of education. This study, in contrast, examines the connection between overconfidence and the field in which a person has been educated. The issues covered are therefore how education and mind set are related, why a differentiation between “quantitative” and “qualitative” education makes sense in this context, and how different mind-sets influence an individual’s proneness to overconfidence. Drawing on the dual process concept of reasoning from psychology it is argued that the focus of one’s education may have an influence on individual levels of overconfidence through distinct ways of reasoning that are acquired and practiced during higher education. As support for this theory, data on the overconfidence of CEOs of the largest German companies is used and experiments for future research on this topic are suggested.

Download or read book A Critical Analysis of Overconfidence as an Explanation for the High Rate of Business Entry Failure written by Thorben Wölk and published by . This book was released on 2013 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: Studienarbeit aus dem Jahr 2013 im Fachbereich BWL - Unternehmensfuhrung, Management, Organisation, einseitig bedruckt, Note: 1,0, Christian-Albrechts-Universitat Kiel (Applied economics of the firm), Veranstaltung: Risk and Entrepreneurship, Sprache: Deutsch, Abstract: Friday, the 19th of October, 2012, the German newspaper "Handelsblatt" (Storbeck, 2012) titled: "Rethinking Economy." 15 young economists were introduced to be the new hope for economic science. One of them was Ulrike Malmendier whose first economic researches deal with managerial hubris. Introducing her is proofing the importance of a new economic domain called "behavioural economics." As a behavioural economist Malmendier criticises the "homo-economicus"-model and the idea of people acting entirely rational. In fact, people constantly display irrational behaviour that results out of cognitive biases (that distort their perception) and also results out of simple, but biased decision rules (heuristics) that the human mind implies. One of those cognitive biases is that people seem to be unreasonable overconfident. The study of overconfidence is originated in the psychological literature. Because of it's great impact on the behaviour of economic actors, it recently influences economic and finance literature (Benoit, Dubra, 2011) and significantly shapes the research activity in behavioural economics. The task of this essay is to critically analyse the role of overconfidence in a special economic domain: business entry decisions. The text is structured as follows: The first section shortly deals with the domain of business entry failures. In the subsequent chapters, overconfidence is introduced as a possible explanation. It is to explain what overconfidence is and how it arises. The text then reviews the paper of Camerer and Lovallo (1999) and critically analyses overconfidence as an explanation for excess entry and high rates of business failure. At last, it will take a further look at the future resea"

Download or read book On the Evolution of Overconfidence and Entrepreneurs written by Antonio E. Bernardo and published by . This book was released on 2009 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Considering that roughly 75 percent of new businesses fail within the first five years, it is difficult to account for entrepreneurs' irrationally overconfident behavior.One explanation is that overconfident entrepreneurs are less likely to imitate their peers and more likely to explore their environment.When groups compete and inferior groups disappear, groups with some entrepreneurial activity may gain enough of an evolutionary advantage to permit entrepreneurs to survive in equilibrium; in other words, groups with some overconfident individuals have an evolutionary advantage over groups without such individuals. A model illustrates the idea that overconfidence imposes only small costs on entrepreneurs (who put too much weight on their own information) but provides large benefits in revealing their private information to their groups.The presentation of the model is followed by a discussion of factors influencing the trade-off between the positive information externality and the high rate of entrepreneurial attrition.This trade-off results in an optimal proportion of entrepreneurs and depends on the size of the group, the degree of overconfidence, and the accuracy of individuals' private information. What follows is a discussion of the trade-off between intergroup and intragroup selection, as well as arguments pro and con group selection.One alternative explanation for overconfidence exists: when trying to deceive others that they are of higher ability, individuals' credibility is enhanced if they are themselves convinced of this ability.(SAA).

Download or read book Risk Management written by Céline Bérard and published by John Wiley & Sons. This book was released on 2018-01-04 with total page 324 pages. Available in PDF, EPUB and Kindle. Book excerpt: Risk management practices are growing both in number and complexity in businesses, notably driven by new regulatory standards that feature risk management at their core. Although large businesses are more likely to adopt a formal, holistic approach to risk management, the stakes are just as high for SMEs. Risk management in SMEs can contribute to a certain organizational, entrepreneurial and partnership dynamic which constitutes a real opportunity to evolve practices and improve performance. This book offers varied responses to this question by combining conceptual approaches, empirical illustrations and the associated managerial implications.

Download or read book Managerial Overconfidence and Education Insights from Dual Process Theory written by Maximilian Margolin and published by GRIN Verlag. This book was released on 2013-02-07 with total page 90 pages. Available in PDF, EPUB and Kindle. Book excerpt: Master's Thesis from the year 2012 in the subject Business economics - Miscellaneous, grade: 1,3, University of Mannheim, course: Business economics, language: English, abstract: Based on data from German DAX-CEOs in this thesis it is argued, that in different fields of education individuals acquire different mind-sets which influence their proneness to overconfidence. Using the framework of dual process reasoning it is proposed that education in quantitative fields, such as mathematics or physics, hampers overconfidence while individuals educated in qualitative fields, such as law or the humanities, become more prone to overconfidence.

Download or read book Exploring the Financial Landscape in the Digital Age written by Thomas Andreas Maurer and published by CRC Press. This book was released on 2024-08-13 with total page 831 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Proceedings of the International Conference on Financial Management and the Digital Economy (ICFMDE 2023) offers an overview of research and insights into how financial management is evolving in the digital age. The book covers a broad spectrum from examining cryptocurrency trends to exploring fintech advancements. Topics also extend to digital transformation strategies, practical applications of blockchain technology, and the profound impact of digital innovations on financial markets. Through rigorous research and analysis, the proceedings offer valuable insights into the future trajectory of the global economy. Written for scholars, researchers, and industry professionals in finance, economics, and digital innovation, this collection provides valuable insights into the rapidly changing field of financial management. Readers will gain deep perspectives on how digitalization is reshaping financial landscapes worldwide.

Download or read book An Investigation of Selected Effects of Overconfidence on Business Success and on the Valuation by Market Participants written by Walid Esmatyar and published by . This book was released on 2018 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Small Business in a Global Economy written by Scott L. Newbert and published by Bloomsbury Publishing USA. This book was released on 2015-05-05 with total page 485 pages. Available in PDF, EPUB and Kindle. Book excerpt: This informative set analyzes the dynamics involved with creating, growing, and managing small businesses amid different geographic, institutional, and political environments. This two-volume work explores the behavior and decision making of small companies; their business strategies for launch, growth, and survival; and their contribution to the larger global economy. Utilizing information and data gleaned from proven entrepreneurs and small business operations, this reference provides insight into the political, environmental, and competitive forces that support and impede small business ownership, and offers strategies for navigating them. Written by leading researchers from around the world, the set presents a broad view of the small business sector, focusing on conception, ownership, financing, and growth strategies. A look at external factors features the impact of political and environmental influences; extant regulations affecting small firms; and programs for promoting this sector. The first volume takes a micro view of the small business phenomenon, profiling the owner and the skills necessary to be successful. The second volume utilizes a macro approach, focusing on the operational concerns of and the environment factors bearing upon small businesses.

Download or read book Sustainability Green Management and Performance of SMEs written by Kiran Mehta and published by Walter de Gruyter GmbH & Co KG. This book was released on 2023-12-04 with total page 403 pages. Available in PDF, EPUB and Kindle. Book excerpt: In a world facing environmental challenges and socio-economic inequalities, SMEs can drive positive change by integrating sustainability principles into their business practices. This book examines the relationship between sustainability, green management, and SME performance, providing insights, strategies, and case studies to guide SMEs towards a more sustainable future and long-term viability. Drawing from extensive research, the book analyzes the drivers, barriers, and motivations influencing SMEs' adoption of sustainability practices. It offers practical recommendations on overcoming resource constraints, awareness gaps, regulatory complexities, and resistance to change. It explores emerging trends such as digital technologies, circular economy approaches, clean energy transitions, and social innovation and discusses collaboration among SMEs, academia, and government agencies as a crucial factor for innovation and scaling up sustainable practices. Sustainability, Green Management and Performance of SMEs is a comprehensive and practical guide for SMEs seeking to integrate sustainability into their business strategies. It inspires and supports SMEs on their journey towards environmental stewardship, social responsibility, and long-term profitability, thus enabling them to unlock new business opportunities, gain a competitive edge, and secure their future in a changing global economy.

Download or read book The Oxford Handbook of Entrepreneurship written by Mark Casson and published by OUP Oxford. This book was released on 2008 with total page 810 pages. Available in PDF, EPUB and Kindle. Book excerpt: Entrepreneurship is a key factor in economic growth, innovation, & the development of firms & businesses. Written by leading scholars, this book presents a comprehensive review of the research in entrepreneurship.

Download or read book Entrepreneurs and SMEs in Rwanda written by David L. Poole and published by Bloomsbury Publishing. This book was released on 2021-01-28 with total page 257 pages. Available in PDF, EPUB and Kindle. Book excerpt: Entrepreneurs and Small and Medium-sized Enterprises (SMEs) have become the darlings of neoliberal development thinking, with the received wisdom being that such enterprises hold the key to the economic transformation of low-income countries. This thinking has profoundly influenced development policy in Rwanda, but has singularly failed to deliver the much anticipated emergence of a new class of entrepreneurs and a vibrant SME sector. This book deconstructs the myths around entrepreneurship and SMEs, and reveals how neoliberal approaches towards microcredit and related programmes have failed to address the economic challenges facing countries like Rwanda. Drawing on his study of successful and aspiring entrepreneurs, Poole identifies the factors associated with successful entrepreneurship. He uncovers the unintended consequences of the entrepreneurship and SME development prescription, and offers key policy insights which have implications for Rwanda and beyond.

Download or read book Overcoming Cognitive Biases in Strategic Management and Decision Making written by Siniksaran, Enis and published by IGI Global. This book was released on 2024-02-12 with total page 309 pages. Available in PDF, EPUB and Kindle. Book excerpt: The persistent presence of cognitive biases has influenced rational decisions and strategic management since the 1970s. These prejudiced errors in judgment, often systematic and predictable, breach the foundational assumptions of economic theory, leading to dire consequences such as social inequality, financial collapse, and governmental inefficiency. Even the brightest minds are not immune, making it crucial to address these biases head-on. Overcoming Cognitive Biases in Strategic Management and Decision Making unravels the complex tapestry of biases that infiltrate decision-making processes at all levels. From social injustice biases and reasoning errors to action-inaction and social biases, the book confronts the myriad of ways that biases manifest in critical moments. These pose a significant threat to sound decision-making in various fields, impacting professionals ranging from judges and doctors to public officials. The repercussions of unchecked biases are far-reaching, leading to flawed outcomes that echo through society. The urgent need for a strategic response to mitigate these biases and enhance decision-making processes forms the crux of the problem this book seeks to address.

Download or read book Information Systems Creativity and Innovation in Small and Medium Sized Enterprises written by Gurpreet Dhillon and published by Springer. This book was released on 2009-07-10 with total page 315 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book contains the collection of papers presented at the conference of the International Federation for Information Processing Working Group 8.2 "Information and Organizations." The conference took place during June 21–24, 2009 at the Universidade do Minho in Guimarães, Portugal. The conference entitled "CreativeSME - The Role of IS in Leveraging the Intelligence and Creativity of SME’s" attracted high-quality submissions from across the world. Each paper was reviewed by at least two reviewers in a double-blind review process. In addition to the 19 papers presented at the conference, there were five panels and four workshops, which covered a range of issues relevant to SMEs, creativity and information systems. We would like to show our appreciation of the efforts of our two invited keynote speakers, Michael Dowling of the University of Regensburg, Germany and Carlos Zorrinho, Portuguese coordinator of the Lisbon Strategy and the Technological Plan. The following organizations supported the conference through financial or other contributions and we would like to thank them for their engagement:

Download or read book Perception of Risk Management in Small and Medium Enterprises SMEs written by Qays Sbaih and published by GRIN Verlag. This book was released on 2019-05-24 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: Research Paper (postgraduate) from the year 2017 in the subject Business economics - Miscellaneous, grade: 90%, Birzeit University, course: MBA, language: English, abstract: This article provides an empirical evidence of risk and risk management in SMEs in Palestine and the effect of RM on its performance using several method for assessing risk, RM and performance for (N=330) SMEs participant in Ramallah. Most of SMEs in Palestine do not have a written and formal risk management plan. They mostly concern about Financial and Strategic risks, while Hazard and operational are the least concerned respectively. Performance in SMEs considered medium according to Performance Comparison Approach. SMEs with highest degree of written risk management plan have better performance. There is a positive correlation between the prospective of the owner/ manager of risk analysis and SMEs’ performance. Strategic and hazard risk analysis is positively associated with performance. The high level of risk mitigation the more SMEs tend to have better performance.

Download or read book Managing Decision making Bias in ERP Use by SMEs written by Connie L. Kahler and published by . This book was released on 2018 with total page 90 pages. Available in PDF, EPUB and Kindle. Book excerpt: The purpose of this study is to examine the use of ERP and outputs by six decision-makers in one SME manufacturing organization and provide artifacts targeted to improve their pricing decisions. Through elaborated action design research, we collect data to diagnosis decision-makers concerns and identify decision making biases and errors. Using insights and collaboration, we design, implement and evaluate seven artifacts targeted to minimize four biases identified overconfidence bias, optimistic bias, planning fallacy and representativeness.