This study empirically examines the influence of decision makers＇ （DMs） characteristics on risk analysis in strategic investment decisions （SIDs） of companies operating automotive industry in India. This study ha...This study empirically examines the influence of decision makers＇ （DMs） characteristics on risk analysis in strategic investment decisions （SIDs） of companies operating automotive industry in India. This study has developed and tested a structural model that linking select demographics, risk propensity and risk analysis in SIDs. The primary data were collected from Senior Finance Professionals （CFOs, GMs, VPs and so on） representing 36 listed automotive companies operating in India. Based on the responses collected from a single cross-sectional mailed survey, this study finds that risk propensity has a significant positive influence on the extent of usage of risk analysis in SIDs.展开更多
The kinetic theory is employed to analyze influence of agent competence and psychological factors on investment decision-making.We assume that the wealth held by agents in the financial market is non-negative,and agen...The kinetic theory is employed to analyze influence of agent competence and psychological factors on investment decision-making.We assume that the wealth held by agents in the financial market is non-negative,and agents set their own investment strategies.The herding behavior is considered when analyzing the impact of an agent's psychological factors on investment decision-making.A nonlinear Boltzmann model containing herding behavior,agent competence and irrational behavior is employed to investigate investment decision-making.To characterize the agent's irrational behavior,we utilize a value function which includes current and ideal-investment decisions to describe the agent's irrational behavior.Employing the asymptotic procedure,we obtain the Fokker-Planck equation from the Boltzmann equation.Numerical results and the stationary solution of the obtained Fokker-Planck equation illustrate how herding behavior,agent competence,psychological factors,and irrational behavior affect investment decision-making,i.e.,herding behavior has both advantages and disadvantages for investment decision-making,and the agent's competence to invest helps the agent to increase income and to reduce loss.展开更多
Literature in finance and neurosciences shows that male and female differ in many relevant issues concerning financial decision investment. Here, we studied the EEG activity recorded while volunteers were playing a st...Literature in finance and neurosciences shows that male and female differ in many relevant issues concerning financial decision investment. Here, we studied the EEG activity recorded while volunteers were playing a stock trading game to investigate these gender differences. 20 males and 20 females made 100 trading decisions using a portfolio of 200 shares of 7 different companies. Males and females were equally successful in earning above the market. sLORETA was used to identify sources of EEG recorded 2 seconds before trading decision. Results showed that male and female used different sets of neuron to make equally successful financial decisions.展开更多
The objective of this research will be to calculate the feasibility of investing in a solar energy generation project through the development of a methodology that allows the capture of environmental uncertainties by ...The objective of this research will be to calculate the feasibility of investing in a solar energy generation project through the development of a methodology that allows the capture of environmental uncertainties by improving decision making. The article presents a comparative study of the feasibility analysis of investment in a solar mini solar energy for a Shopping, considering a regime of certainty and uncertainty. The assumed stochastic variables were energy tariff and price of solar panels. The trajectories were simulated with the binomial approach that combined resulted in a quadratic diagram. The applied methodology presented the best recommendation and the option to wait was the most valuable. The exchange of the energy obtained from LIGHT by own generation of energy with solar photovoltaic source will be viable for the manager since it observes the behavior of the variables over time and follows the rules of optimal decision.展开更多
受政策的改变以及对新兴领域项目投资缺少足够认知的影响,管理者的项目投资行为往往呈现一定的不确定性。针对企业管理者在进行项目组合投资决策时存在一定风险偏好的情况,本文基于信息间隙决策理论(Information Gap Decision Theory,IG...受政策的改变以及对新兴领域项目投资缺少足够认知的影响,管理者的项目投资行为往往呈现一定的不确定性。针对企业管理者在进行项目组合投资决策时存在一定风险偏好的情况,本文基于信息间隙决策理论(Information Gap Decision Theory,IGDT),引入净现值偏差系数对管理者的风险偏好进行描述,构建了考虑投资不确定性的项目组合选择新模型。采用包络约束对投资金额不确定性进行描述,给出风险规避与机会寻求两种策略下的项目组合选择IGDT优化模型,并将其转化成单层规划模型进行求解。通过算例仿真,验证了模型的有效性。结果表明:IGDT优化模型不仅满足了管理者投资的预期净现值要求,而且给出了最优的投资金额与项目选择结果。本文构建模型可以为管理者在项目风险管控和资金管理优化方面提供参考。展开更多
文摘This study empirically examines the influence of decision makers＇ （DMs） characteristics on risk analysis in strategic investment decisions （SIDs） of companies operating automotive industry in India. This study has developed and tested a structural model that linking select demographics, risk propensity and risk analysis in SIDs. The primary data were collected from Senior Finance Professionals （CFOs, GMs, VPs and so on） representing 36 listed automotive companies operating in India. Based on the responses collected from a single cross-sectional mailed survey, this study finds that risk propensity has a significant positive influence on the extent of usage of risk analysis in SIDs.
基金Project supported by the Fundamental Research Funds for the Central Universities and Southwest Minzu University(Grant No.2022SJQ002)。
文摘The kinetic theory is employed to analyze influence of agent competence and psychological factors on investment decision-making.We assume that the wealth held by agents in the financial market is non-negative,and agents set their own investment strategies.The herding behavior is considered when analyzing the impact of an agent's psychological factors on investment decision-making.A nonlinear Boltzmann model containing herding behavior,agent competence and irrational behavior is employed to investigate investment decision-making.To characterize the agent's irrational behavior,we utilize a value function which includes current and ideal-investment decisions to describe the agent's irrational behavior.Employing the asymptotic procedure,we obtain the Fokker-Planck equation from the Boltzmann equation.Numerical results and the stationary solution of the obtained Fokker-Planck equation illustrate how herding behavior,agent competence,psychological factors,and irrational behavior affect investment decision-making,i.e.,herding behavior has both advantages and disadvantages for investment decision-making,and the agent's competence to invest helps the agent to increase income and to reduce loss.
文摘Literature in finance and neurosciences shows that male and female differ in many relevant issues concerning financial decision investment. Here, we studied the EEG activity recorded while volunteers were playing a stock trading game to investigate these gender differences. 20 males and 20 females made 100 trading decisions using a portfolio of 200 shares of 7 different companies. Males and females were equally successful in earning above the market. sLORETA was used to identify sources of EEG recorded 2 seconds before trading decision. Results showed that male and female used different sets of neuron to make equally successful financial decisions.
文摘The objective of this research will be to calculate the feasibility of investing in a solar energy generation project through the development of a methodology that allows the capture of environmental uncertainties by improving decision making. The article presents a comparative study of the feasibility analysis of investment in a solar mini solar energy for a Shopping, considering a regime of certainty and uncertainty. The assumed stochastic variables were energy tariff and price of solar panels. The trajectories were simulated with the binomial approach that combined resulted in a quadratic diagram. The applied methodology presented the best recommendation and the option to wait was the most valuable. The exchange of the energy obtained from LIGHT by own generation of energy with solar photovoltaic source will be viable for the manager since it observes the behavior of the variables over time and follows the rules of optimal decision.
文摘受政策的改变以及对新兴领域项目投资缺少足够认知的影响,管理者的项目投资行为往往呈现一定的不确定性。针对企业管理者在进行项目组合投资决策时存在一定风险偏好的情况,本文基于信息间隙决策理论(Information Gap Decision Theory,IGDT),引入净现值偏差系数对管理者的风险偏好进行描述,构建了考虑投资不确定性的项目组合选择新模型。采用包络约束对投资金额不确定性进行描述,给出风险规避与机会寻求两种策略下的项目组合选择IGDT优化模型,并将其转化成单层规划模型进行求解。通过算例仿真,验证了模型的有效性。结果表明:IGDT优化模型不仅满足了管理者投资的预期净现值要求,而且给出了最优的投资金额与项目选择结果。本文构建模型可以为管理者在项目风险管控和资金管理优化方面提供参考。
