scholarly journals Behavioral Cost of Managerial Decisions Under Risk Perception and Culture: A Comparative Study Between the United States and Pakistan

SAGE Open ◽  
2021 ◽  
Vol 11 (3) ◽  
pp. 215824402110278
Author(s):  
Nishwa Iqbal Dar ◽  
Syed Zulfiqar Ali Shah ◽  
Zeeshan Ahmed
Keyword(s):  
Decision Making ◽  
New York ◽  
Risk Perception ◽  
Cognitive Biases ◽  
Stock Exchange ◽  
The United States ◽  
Managerial Decision ◽  
Managerial Decisions ◽  
Overconfidence Bias

The study is an attempt to find the reasons for biased behavior of overconfident managers while making financial decisions on behalf of shareholders. The study further seeks the ways to resolve the problems faced by firms due to such biased decision-making. For this purpose, quantitative research method is used to uncover the new information for better understanding of study. The comparative analysis has been done through survey-based data collected from executives/managers of firms listed on Pakistan Stock Exchange and New York Stock Exchange. The results indicate that overconfidence bias plays a significant role in managerial decisions for Pakistan compared with U.S. managers. This study applied mediation and moderation tests and found the significant mediating role of risk perception for overconfidence bias and manager decisions. The study further checked moderating role of cultural value, that is, the role of uncertainty avoidance between overconfidence bias of managers and risk perception. Hence, the role of cognitive biases and bounded rationality is undeniable for managerial decision-making and ultimate behavioral cost that firms have to pay due to undesired outcomes of situations. Consequently, this study has reached to extract the hidden facts and solutions to the observed issues for developed and emerging economy’s firms through cultural differences.

scholarly journals The Mediating Role of Risk Perception among Cognitive Biases towards Decision to Start a New Venture

2015 ◽  
Vol 54 ◽  
pp. 88-95
Author(s):  
Maheen Butt ◽  
Nadia Jamil ◽  
Rabia Nawaz
Keyword(s):  
Risk Perception ◽  
Risk Perceptions ◽  
Cognitive Biases ◽  
Negative Impact ◽  
New Venture ◽  
Illusion Of Control ◽  
Mediating Role ◽  
Overconfidence Bias ◽  
The Relationship

The Objective of the study is to investigate the relationship of overconfidence bias and illusion of control bias towards the start of new venture, with the mediating role of risk perception in context of Pakistan. To understand the relationship, this study developed and tested hypothesis by correlation and regression analysis. This study’s sample consisted of 170 students pursuing a Masters of Business Administration. The students’ responses to a survey based on a case study regarding a decision to start a venture were examined. This study found illusion of control and risk perceptions have significant effect on decision to start new venture. Conversely, overconfidence bias has insignificant relationship with decision to start new venture. The positive and negative impact of biases and perceiving low levels of risk suggest the importance of exploring the area of venture formation. As this study has incorporated two biases but many other biases should also be considered that effect human decision making process like self-efficacy, availability heuristics, law of small numbers and escalation of commitment.

scholarly journals Rational Managerial Decisions in Business Sector

2021 ◽  
Vol 2021 (1) ◽  
pp. 66-77
Author(s):  
Evgeny Shumkin
Keyword(s):  
Decision Making ◽  
Public Relations ◽  
Social Relations ◽  
Business Environment ◽  
The State ◽  
Managerial Decision ◽  
Managerial Decisions ◽  
The Social ◽  
Business Area

This article features managerial decisions in business area, where the state plays the role of an external regulator of public relations and the main influencer. The legal tools that affect decision-making in business depend on the social mechanisms of business regulations. The author describes the position of the rational regulator that evaluates the decisions made by a business entity. Positive law is an integral part of objective reality and is a set of codified principles of legally appropriate behavior. Imperative and dispositive regulations of public relations in business area imply that a business entity can choose a model of managerial and entrepreneurial behavior based on the rules provided by the legislator. The active role of the state as an external regulator of the social relations reflects the problem of dissonance between legal and social norms underlying managerial decision-making, which leads to additional economic and transaction costs. The paper also features the problem of frustration conflict between the regulator and the business environment in the context of applying the rationality proposed by the state in business activities and the problem of choosing the right managerial decision for its subjects. By refusing from a radical and negative assessment of the entrepreneur's management decisions, the state can solve this problem. The state needs to be more tolerant to business risks as an alternative rationality, without identifying them with deviant behavior. By preventing alienation of business from the state, one can eliminate the conflict between law and favorable climate in business area, i.e. maximal convergence of social and legal norms.

38. Max Brodel (1870-1941): His artistic influence on surgical learning at John Hopkins Medical School

2007 ◽  
Vol 30 (4) ◽  
pp. 47
Author(s):  
P. Pace-Asciak ◽  
T. Gelfand
Keyword(s):  
New York ◽  
Neck Surgery ◽  
The United States ◽  
Spoken Word ◽  
Medical Illustration ◽  
3 Dimensional ◽  
Teaching Anatomy ◽  
Computer Based ◽  
Pathological Disease

Medical students depend on illustration to learn anatomical facts and details that may be too subtle for the written or spoken word. For surgical disciplines, learners rely on tools such as language, 2-dimensional illustrations, and 3-dimensional models to pass on important concepts. Although a photograph can convey factual information, illustration can highlight and educate the pertinent details for understanding surgical procedures, neurovascular structures, and the pathological disease processes. In order to understand the current role of medical illustration in education, one needs to look to the past to see how art has helped solve communication dilemmas when learning medicine. This paper focuses on Max Brodel (1870-1941), a German-trained artist who eventually immigrated to the United States to pursue his career as a medical illustrator. Shortly after his arrival in Baltimore, Brodel made significant contributions to medical illustration in Gynecology at John Hopkins University, and eventually in other fields of medicine such as Urology and Otolaryngology. Brodel is recognized as one of America’s most distinguished medical illustrators for creating innovative artistic techniques and founding the profession of medical illustration. Today, animated computer based art is synergistically used with medical illustration to educate students about anatomy. Some of the changes that have occurred with the advancement of computer technology will be highlighted and compared to a century ago, when illustrations were used for teaching anatomy due to the scarcity of cadavers. Schultheiss D, Udo J. Max Brodel (1870-1941) and Howard A.Kelly (1858-1943) – Urogynecology and the birth of modern medical illustration. European Journal of Obstetrics & gynecology and Reproductive Biology 1999; 86:113-115. Crosby C. Max Brodel: the man who put art into medicine. New York: Springer-Verlag, 1991. Papel ID. Max Brodel’s contributions to otolaryngology – Head and Neck surgery. The American Journal of Otology 1986; 7(6):460-469.

“Little Plants in the Country”: Henry Ford's Village Industries and the Beginning of Decentralized Technology in Modern America

Prospects ◽  
1988 ◽  
Vol 13 ◽  
pp. 181-223 ◽  
Author(s):  
Howard P. Segal
Keyword(s):  
United States ◽  
Decision Making ◽  
New York ◽  
Information Processing ◽  
Real Estate ◽  
New York Times ◽  
The United States ◽  
Physical Proximity ◽  
The World ◽  
Word Processors

“Technology Spurs Decentralization Across the Country.” So reads a 1984 New York Times article on real-estate trends in the United States. The contemporary revolution in information processing and transmittal now allows large businesses and other institutions to disperse their offices and other facilities across the country, even across the world, without loss of the policy- and decision-making abilities formerly requiring regular physical proximity. Thanks to computers, word processors, and the like, decentralization has become a fact of life in America and other highly technological societies.

scholarly journals How Does Metro Maintenance Staff’s Risk Perception Influence Safety Citizenship Behavior—The Mediating Role of Safety Attitude

2021 ◽  
Vol 18 (10) ◽  
pp. 5466
Author(s):  
Huaiyuan Zhai ◽  
Mengjie Li ◽  
Shengyue Hao ◽  
Mingli Chen ◽  
Lingchen Kong
Keyword(s):  
New York ◽  
Risk Perception ◽  
Positive Influence ◽  
Attitude Scale ◽  
Citizenship Behavior ◽  
Accident Rate ◽  
Human Errors ◽  
Mediating Role ◽  
Safety Attitude

The accident rate is high in subway maintenance work, and most of the accidents are caused by human factors, especially the lack of sensitivity to risk perception, the lack of rigorous attitude towards safety and the lack of safe citizenship behavior (SCB). Therefore, it is very important to study the risk perception (RP), safety attitude (SA) and SCB of metro maintenance staff in order to reduce the accident rate. In order to reduce human errors and accidents, this study analyzed the influence of metro maintenance staff’s RP on their SCB and the mediating role of SA. Based on previous studies, this paper uses the risk perception scale, safety attitude scale and safety citizenship behavior scale as research tools. A survey was administered at the Subway Company, and altogether 268 valid questionnaires were used, and the data were analyzed by SPSS19.0 (IBM, Armonk, NY, USA) and AMOS 24.0 (IBM, Armonk, New York, NY, USA). The result reveals that SA plays a complete mediating role between metro maintenance staff’s RP and their SCB; and SA has a positive influence on SCB; RP has a positive influence on SA; and SA positively predicts SCB.

The Role of Religious Value in Political Judgment

1968 ◽  
Vol 30 (4) ◽  
pp. 415-427
Author(s):  
Quentin L. Quade
Keyword(s):  
New York ◽  
Civil Rights ◽  
New York Times ◽  
Religion And Politics ◽  
The United States ◽  
Religious Leaders ◽  
Political Issue ◽  
Religious Interventions ◽  
Number Of Citations

In The issues of the New York Times from February, 1965, to November, 1967, religious leaders and groups are reported 185 times commenting on one political issue: Vietnam. If a comparable search were done on an inclusive list of political topics, such as civil rights, the number of citations would be greatly multiplied. Most of these statements are on substantive issues — the United States should do this, do that — rather than on the theoretical questions about religion's role vis à vis politics. Most of these religious interventions presume some connection between religion and politics, whether articulated or not. A similar examination of some leading religious journals, for example, Chrisianity and Crisis, Commonweal, Christian Century, America, produces similar results: in articles and editorials, such publications are deeply immersed in direct commentary on political problems of our time.

scholarly journals The Gilded Interior: French Style and American Renaissance

2021 ◽  
pp. 1-22
Author(s):  
Laura C. Jenkins
Keyword(s):  
United States ◽  
New York ◽  
Eighteenth Century ◽  
Gilded Age ◽  
The United States ◽  
Decorative Arts ◽  
American Renaissance ◽  
Interior Decoration ◽  
Architectural Tradition

ABSTRACT In the decades around the turn of the twentieth century, New York was seized by a passion for things French in interior decoration. The influx of French eighteenth-century decorative arts from London and Paris exerted a powerful influence over the imaginations of a new millionaire class, while the emergence of the professional dealer-decorator established channels for the incorporation of these materials into the luxury residence. While these interiors were developed in collaboration with leading US architects such as Richard Morris Hunt and George B. Post, they also posed a subtle challenge to the discourse of intellectualism developed on architects’ behalf. Governed by issues of taste and commerce as well as by artistic judgement, these French interiors presented a compelling vision of aristocratic stature that was at once in keeping, and in conflict, with the aspirations of an American Renaissance. This article considers the role of eighteenth-century French-style interiors in the articulation of a ‘civilised’ architectural tradition in the United States during the so-called Gilded Age. Focusing on the private mansion, it reconsiders the notion of the American Renaissance as a principally academic movement by calling attention to the ways in which it also responded to the requirements of the elite class as well as the commercial marketplace.

scholarly journals The Role of Strategic Thinking Patterns in the Quality of Administrative Decision Making

2018 ◽  
Vol 2 (2) ◽  
pp. 1-21
Author(s):  
Ahlam Ibrahim Wali ◽  
Muzaffar Hamed Ali ◽  
Ahmed Azan Sharif
Keyword(s):  
Decision Making ◽  
Strategic Thinking ◽  
Managerial Decision ◽  
Holistic Thinking ◽  
Descriptive Approach ◽  
University Leaders ◽  
The University ◽  
Diagnostic Thinking

The aim of the research is to identify the role of strategic thinking patterns (holistic, abstract, diagnostic, schematic) among the university leaders in the faculties of the University of Salahuddin / Erbil. In order to reach this goal, (The type of holistic thinking, the pattern of abstract thinking, the pattern of diagnostic thinking, the pattern of schematic thinking), while the third axis of the dependent variable relates to the quality of administrative decision making. The questionnaire was distributed to 100 respondents Aclasia and the meanings of the deans and heads of scientific departments, has been pursuing the analytical descriptive approach as a way to research was the use of statistical methods SPSS to get to the search results, and research found a set of results 1-There are levels of (types of strategic thinking and quality of administrative decision-making) among the university leaders in faculties of Salahuddin University / Erbil. 2-There is a positive positive relationship between all types of strategic thinking and the quality of administrative decision-making 3- There is a significant impact of the types of strategic thinking in the quality of administrative decision - making. Based on the findings, the researchers recommended that the university leaders at the university be given an interest in strategic thinking as an important factor in the quality of managerial decision making

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