Corporate group decisions: A behavioral approach

Detalhes bibliográficos
Autor(a) principal: Barros, Lucas Ayres Barreira De Campos
Data de Publicação: 2018
Tipo de documento: Artigo
Idioma: por
eng
Título da fonte: Revista de Administração de Empresas
Texto Completo: https://periodicos.fgv.br/rae/article/view/77593
Resumo: Important organizational decisions are commonly made within groups. Within financial institutions, it is not rare for credit concessions to be decided by committees. In the government sphere, fundamental decisions, such as defining the economy’s primary interest rate, are also made in collegiate. In large private companies, the board of directors is at the top of the organizational hierarchy and has the final word on investment strategies, financing, and mergers and acquisitions. However, the peculiarities of the group decision process are widely ignored in finance literature, which usually considers the group as if it were an individual. For example, studies in the field of behavioral corporate finance emphasize the cognitive processes and biases of the individual decision maker, but pay little attention to how these processes interact to make a group decision (For a literature review, see Baker & Wurgler, 2013). In this essay, I present, in a concise, selective manner, the current state of the emerging multidisciplinary discussion on the decision process in small groups and emphasize its behavioral aspects. First, I cover the advantages and difficulties of the group decision compared with the individual decision. Then, I present recent contributions indicating that the quality of group decisions depends on the context and on how small changes in the decision environment can have important consequences.
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spelling Corporate group decisions: A behavioral approachDecisiones corporativas en grupo: Un enfoque conductualDecisões corporativas em grupo: Uma abordagem comportamentalImportant organizational decisions are commonly made within groups. Within financial institutions, it is not rare for credit concessions to be decided by committees. In the government sphere, fundamental decisions, such as defining the economy’s primary interest rate, are also made in collegiate. In large private companies, the board of directors is at the top of the organizational hierarchy and has the final word on investment strategies, financing, and mergers and acquisitions. However, the peculiarities of the group decision process are widely ignored in finance literature, which usually considers the group as if it were an individual. For example, studies in the field of behavioral corporate finance emphasize the cognitive processes and biases of the individual decision maker, but pay little attention to how these processes interact to make a group decision (For a literature review, see Baker & Wurgler, 2013). In this essay, I present, in a concise, selective manner, the current state of the emerging multidisciplinary discussion on the decision process in small groups and emphasize its behavioral aspects. First, I cover the advantages and difficulties of the group decision compared with the individual decision. Then, I present recent contributions indicating that the quality of group decisions depends on the context and on how small changes in the decision environment can have important consequences.É comum que decisões organizacionais importantes sejam tomadas em grupo. Nas instituições financeiras, não raro, as concessões de crédito são decididas em comitês. Na esfera governamental, decisões fundamentais, tais como a definição da taxa de juros básica da economia, também são tomadas em colegiado. Nas grandes empresas privadas, o conselho de administração (CA) está no topo da hierarquia organizacional e tem a palavra final sobre estratégias de investimento, financiamento e fusões e aquisições. Todavia, as peculiaridades do processo decisório grupal são largamente ignoradas na literatura de finanças, efetivamente tratando-se o coletivo como se fosse um indivíduo. Por exemplo, as pesquisas no campo de finanças corporativas comportamentais enfatizam os processos cognitivos e vieses do decisor individual e dão pouca atenção a como esses processos interagem para produzir a decisão do grupo (para uma revisão dessa literatura, vide Baker & Wurgler, 2013). Neste ensaio, apresento, de maneira concisa e seletiva, o estado atual da discussão multidisciplinar emergente sobre o processo decisório em pequenos grupos, com ênfase em seus aspectos comportamentais. Primeiramente, abordo as vantagens e dificuldades da decisão em grupo em comparação com a decisão individual. Em seguida, apresento contribuições recentes que mostram como a qualidade da decisão do grupo depende do contexto e como pequenas alterações do ambiente decisório podem ter consequências relevantes.RAE - Revista de Administracao de Empresas RAE - Revista de Administração de EmpresasRAE-Revista de Administração de Empresas2018-11-14info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionapplication/pdfapplication/pdfhttps://periodicos.fgv.br/rae/article/view/7759310.1590/S0034-759020180606RAE - Revista de Administracao de Empresas ; Vol. 58 No. 6 (2018): novembro-dezembro; 576-580RAE - Revista de Administração de Empresas; Vol. 58 Núm. 6 (2018): novembro-dezembro; 576-580RAE-Revista de Administração de Empresas; v. 58 n. 6 (2018): novembro-dezembro; 576-5802178-938X0034-7590reponame:Revista de Administração de Empresasinstname:Fundação Getulio Vargas (FGV)instacron:FGVporenghttps://periodicos.fgv.br/rae/article/view/77593/74358https://periodicos.fgv.br/rae/article/view/77593/74387Copyright (c) 2018 RAE - Revista de Administração de Empresasinfo:eu-repo/semantics/openAccessBarros, Lucas Ayres Barreira De Campos2019-01-24T11:49:46Zoai:ojs.periodicos.fgv.br:article/77593Revistahttps://rae.fgv.br/raeONGhttps://old.scielo.br/oai/scielo-oai.phprae@fgv.br||ilda.fontes@fgv.br||raeredacao@fgv.br2178-938X0034-7590opendoar:2024-03-06T13:06:00.291781Revista de Administração de Empresas - Fundação Getulio Vargas (FGV)true
dc.title.none.fl_str_mv Corporate group decisions: A behavioral approach
Decisiones corporativas en grupo: Un enfoque conductual
Decisões corporativas em grupo: Uma abordagem comportamental
title Corporate group decisions: A behavioral approach
spellingShingle Corporate group decisions: A behavioral approach
Barros, Lucas Ayres Barreira De Campos
title_short Corporate group decisions: A behavioral approach
title_full Corporate group decisions: A behavioral approach
title_fullStr Corporate group decisions: A behavioral approach
title_full_unstemmed Corporate group decisions: A behavioral approach
title_sort Corporate group decisions: A behavioral approach
author Barros, Lucas Ayres Barreira De Campos
author_facet Barros, Lucas Ayres Barreira De Campos
author_role author
dc.contributor.author.fl_str_mv Barros, Lucas Ayres Barreira De Campos
description Important organizational decisions are commonly made within groups. Within financial institutions, it is not rare for credit concessions to be decided by committees. In the government sphere, fundamental decisions, such as defining the economy’s primary interest rate, are also made in collegiate. In large private companies, the board of directors is at the top of the organizational hierarchy and has the final word on investment strategies, financing, and mergers and acquisitions. However, the peculiarities of the group decision process are widely ignored in finance literature, which usually considers the group as if it were an individual. For example, studies in the field of behavioral corporate finance emphasize the cognitive processes and biases of the individual decision maker, but pay little attention to how these processes interact to make a group decision (For a literature review, see Baker & Wurgler, 2013). In this essay, I present, in a concise, selective manner, the current state of the emerging multidisciplinary discussion on the decision process in small groups and emphasize its behavioral aspects. First, I cover the advantages and difficulties of the group decision compared with the individual decision. Then, I present recent contributions indicating that the quality of group decisions depends on the context and on how small changes in the decision environment can have important consequences.
publishDate 2018
dc.date.none.fl_str_mv 2018-11-14
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dc.identifier.uri.fl_str_mv https://periodicos.fgv.br/rae/article/view/77593
10.1590/S0034-759020180606
url https://periodicos.fgv.br/rae/article/view/77593
identifier_str_mv 10.1590/S0034-759020180606
dc.language.iso.fl_str_mv por
eng
language por
eng
dc.relation.none.fl_str_mv https://periodicos.fgv.br/rae/article/view/77593/74358
https://periodicos.fgv.br/rae/article/view/77593/74387
dc.rights.driver.fl_str_mv Copyright (c) 2018 RAE - Revista de Administração de Empresas
info:eu-repo/semantics/openAccess
rights_invalid_str_mv Copyright (c) 2018 RAE - Revista de Administração de Empresas
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
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dc.publisher.none.fl_str_mv RAE - Revista de Administracao de Empresas
RAE - Revista de Administração de Empresas
RAE-Revista de Administração de Empresas
publisher.none.fl_str_mv RAE - Revista de Administracao de Empresas
RAE - Revista de Administração de Empresas
RAE-Revista de Administração de Empresas
dc.source.none.fl_str_mv RAE - Revista de Administracao de Empresas ; Vol. 58 No. 6 (2018): novembro-dezembro; 576-580
RAE - Revista de Administração de Empresas; Vol. 58 Núm. 6 (2018): novembro-dezembro; 576-580
RAE-Revista de Administração de Empresas; v. 58 n. 6 (2018): novembro-dezembro; 576-580
2178-938X
0034-7590
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