<abstract xmlns="http://www.w3.org/1999/xhtml">

<p>The COVID-19 pandemic has caused great turbulence in global financial markets. The first goal of this conceptual paper is to explore whether managers of companies listed on the Warsaw Stock Exchange are susceptible to selected behavioral biases related to irrational risk preferences. We also seek to investigate whether susceptibility to these errors may affect selected management practices in the areas of corporate risk management and investment policy. The second major goal of our project is to identify whether there is a link at the micro level, that is, between the aforementioned irrational management practices resulting from susceptibility to behavioral biases and the macro level (i.e., certain macroeconomic indicators, such as aggregate investment, employment, and growth). We hope that our research project will contribute to shifting the paradigm of economics in such a way that the behavioral approach will be increasingly used and acknowledged by researchers.</p>
</abstract>

The COVID-19 pandemic has caused great turbulence in global financial markets. The first goal of this conceptual paper is to explore whether managers of companies listed on the Warsaw Stock Exchange are susceptible to selected behavioral biases related to irrational risk preferences. We also seek to investigate whether susceptibility to these errors may affect selected management practices in the areas of corporate risk management and investment policy. The second major goal of our project is to identify whether there is a link at the micro level, that is, between the aforementioned irrational management practices resulting from susceptibility to behavioral biases and the macro level (i.e., certain macroeconomic indicators, such as aggregate investment, employment, and growth). We hope that our research project will contribute to shifting the paradigm of economics in such a way that the behavioral approach will be increasingly used and acknowledged by researchers.

Behavioral biases in corporate risk management and investment decisions during the COVID-19 pandemic in Poland

International Journal of Management and Economics

This work is licensed under the Creative Commons Attribution 4.0 International License.

The COVID-19 pandemic has caused great turbulence in global financial markets. The first goal of this conceptual paper is to explore whether managers of...

Behavioral biases in corporate risk management and investment decisions during the COVID-19 pandemic in Poland

Article Category: Conceptual Paper

Published Online: Mar 31, 2023

Page range: 70 - 76

Received: Jul 31, 2022

Accepted: Dec 18, 2022

DOI: https://doi.org/10.2478/ijme-2022-0033

Keywords
behavioral biases, behavioral finance, corporate managers, COVID-19, macroeconomics

© 2023 Marcin Rzeszutek et al., published by Sciendo

This work is licensed under the Creative Commons Attribution 4.0 International License.

Figure 1

Behavioral biases in corporate risk management and investment decisions during the COVID-19 pandemic in Poland

Article Category: Conceptual Paper

Published Online: Mar 31, 2023

Page range: 70 - 76

Received: Jul 31, 2022

Accepted: Dec 18, 2022

DOI: https://doi.org/10.2478/ijme-2022-0033

Keywordsbehavioral biases, behavioral finance, corporate managers, COVID-19, macroeconomics

© 2023 Marcin Rzeszutek et al., published by Sciendo

This work is licensed under the Creative Commons Attribution 4.0 International License.

Figure 1

Keywords
behavioral biases, behavioral finance, corporate managers, COVID-19, macroeconomics