Control and the illusion of control in the financial decisions of entrepreneurs

Article Sidebar


PDF

Published:
Dec 31, 2018
Issue
Vol. 4 No. 2 (2018)
Section
Articles
CitedBy/Share
Crossref
Scopus
Google Scholar
Europe PMC

Main Article Content

Joanna Chudzian
Warsaw University of Life Sciences – SGGW, Poland
https://orcid.org/0000-0001-5565-1319
Olga Podlińska
Warsaw University of Life Sciences – SGGW, Poland
https://orcid.org/0000-0001-7249-970X
Ada Ładno
Warsaw University of Life Sciences – SGGW, Poland

DOI: https://doi.org/10.22630/AMME.2018.4.2.14
Keywords : control, illusion of control, rationality, decision-making process, financial decisions
Abstract
The article concerns the phenomenon of control and illusion of control In financial decisions of Polish enterprises. The article identifies the main determinants of the illusion of control. The aim of the paper is to assess the level of control and the degree of illusion of control. For this purpose a CAWI survey was conducted on a group of persons employed in enterprises and responsible for financial decisions. The empirical part of the article presents an primary study conducted among financial directors which showed high results of surveyed entrepreneurs in the area of control and the observed phenomenon of the illusion of control in decision-making situations in the field of finance. At the same time, the main factors influencing the level of the illusion of control were verified.

Article Details

How to Cite
Chudzian, J., Podlińska, O., & Ładno, A. (2018). Control and the illusion of control in the financial decisions of entrepreneurs. Annals of Marketing Management & Economics, 4(2), 19–30. https://doi.org/10.22630/AMME.2018.4.2.14
References

CHABER P. et al., 2018. Raport o stanie sektora małych i średnich przedsiębiorstw w Polsce (Report on the state of the sector of small and medium enterprises in Poland) [in Polish], Agencja Rozwoju Przedsiębiorczości, PARP.

CZERWONKA M., GORLEWSKI B., 2012. Finanse behawioralne. Zachowania inwestorów i rynku (Behavioral finance. Investor and market behawior) [in Polish], Oficyna Wydawnicza SGH, Warsaw.

FESNAK A., 2011. Jakie decyzje finansowe podejmują bogaci i dlaczego biedni robią błędy działając inaczej (What financial decisions are made by the rich and why the poor make mistakes by acting differently) [in Polish], Wydawnictwo Złote Myśli, Gliwice.

Forbes, 2014. Finansiści firm Neuca oraz Polfurnitur zostali Dyrektorami Finansowymi Roku (Financiers from Neuca and Polfurnitur became the Financial Directors of the Year) [in Polish], retrieved from: https://www.forbes.pl/dyrektor-finansowy-roku/finansisci-z-neuca-i-polfurnitur-zostali-dyrektorami-finansowymi-roku/s6l0jhv [accessed: 18.04.2018].

GRIFFIN R., 2009. Podstawy zarządzania organizacjami (Basics of organization management) [in Polish], Wydawnictwo PWN, Warsaw.

MATUSZCZAK W., 2005. Finanse behawioralne (Behavioral finance) [in Polish], MBA 1.

STARCZEWSKA-KRZYSZTOSZEK M., 2011. Słabe i mocne strony sektora MŚP w Polsce. Szanse i zagrożenia rozwojowe, wyniki badania przeprowadzonego w ramach projektu „Monitoring kondycji sektora MŚP w latach 2010–2012” współfinansowanego ze środków Unii Europejskiej w ramach Europejskiego Funduszu Społecznego (Report from the study prepared by PKPP Lewiatan as part of the project “Monitoring the condition of the SME sector in 2010–2012” co-financed by the European Union under the European Social Fund) [in Polish], PKPP Lewiatan, retrieved from: http://pkpplewiatan.pl/opinie/gospodarka/1/_files/2011_12/Raport_MSP.pdf [accessed: 27.04.2018].

SZCZEPANKOWSKI P., 2002. Kontrola i Controlling (Controlling and Controlling in collective work) (in:) Zarządzanie. Teoria i praktyka (Management. Theory and practice) A. Koźmiński, W. Piotrowski (eds) [in Polish], Wydawnictwo Naukowe PWN, Warszawa.

TYSZKA T., 2004. Psychologia ekonomiczna (Economic psychology) [in Polish], Gdańskie Wydawnictwo Psychologiczne, Sopot.

VOLLMUTH H., 1996. Controlling. Planowanie, kontrola, kierowanie (Controlling. Planning, control, management) [in Polish], Wydawnictwo Placet, Warsaw.

ZIELIŃSKA E., OSTROWSKA E., 2013. Uwarunkowania behawioralne decyzji inwestycyjnych (Behavioral conditioning of investment decisions) [in Polish], Journal of Management and Finance 2/4.

ZIELONKA P., 2011. Giełda i psychologia. Behawioralne aspekty inwestowania na rynku papierów wartościowych (Stock exchange and psychology. Behavioral aspects of investing in the securities market) [in Polish], Wydawnictwo CeDeWu, Warsaw.

Statistics

Downloads

Download data is not yet available.
Recommend Articles
Licence
Creative Commons License

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