The relationship between biases and entrepreneurial Decision-Making. Evidence from Italian and Czech SMEs

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F70883521%3A28120%2F24%3A63576179" target="_blank" >RIV/70883521:28120/24:63576179 - isvavai.cz</a>

Výsledek na webu

<a href="https://link.springer.com/article/10.1007/s11365-024-00983-5?fbclid=IwZXh0bgNhZW0CMTEAAR0STODTYBC8s4tN9llNWxsoAgDgQitKDEomRcQlxU1u5yqSI4N5Z3wucEg_aem_AXO_oI5v8kYdb0p4no1IpM_Ja9efNNwHqCgr_chvRj5bBGGiMJD9RRSNcolJZxxY2nuSK7otr0On3tgopMxaT9TI" target="_blank" >https://link.springer.com/article/10.1007/s11365-024-00983-5?fbclid=IwZXh0bgNhZW0CMTEAAR0STODTYBC8s4tN9llNWxsoAgDgQitKDEomRcQlxU1u5yqSI4N5Z3wucEg_aem_AXO_oI5v8kYdb0p4no1IpM_Ja9efNNwHqCgr_chvRj5bBGGiMJD9RRSNcolJZxxY2nuSK7otr0On3tgopMxaT9TI</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.1007/s11365-024-00983-5" target="_blank" >10.1007/s11365-024-00983-5</a>

Jazyk výsledku

angličtina

Název v původním jazyce

The relationship between biases and entrepreneurial Decision-Making. Evidence from Italian and Czech SMEs

Popis výsledku v původním jazyce

The present article analyzes how heuristic-driven biases (Overconfidence, Availability, and Anchoring) affect Entrepreneurial Decision Making (EDM) and identifies the role of SMEs in these relationships. Furthermore, it highlights the influence of organizational and contextual factors, which have rarely been investigated in the past. Employing a survey distributed to 316 entrepreneurs from SMEs in Italy and the Czech Republic, three separate regression models were constructed. These models aimed to investigate the impact of cognitive distortions on EDM and the influence of SME characteristics, such as the size or age of the company, in an intercultural context. The study addresses a gap in current research by going beyond individual and psychological aspects of decision-making. By focusing on organizational and contextual factors, it offers a more complete understanding of the influences on entrepreneurial decisions. The intercultural perspective, examining SMEs in both Italy and the Czech Republic, adds significant value to the study. As shown in the results, Overconfidence and Anchoring biases are likely to affect EDM in both Italian and Czech SMEs. Nationality does not play a role in these relationships, indicating its insignificance. On the other hand, the size and age of SMEs mitigate the influence of both biases on decision-making. The findings offer an in-depth comprehension of cognitive biases’ dynamics within EDM in SMEs, emphasizing the importance for organizations to factor in structural characteristics alongside the biases themselves when planning and managing their decision-making processes.

Název v anglickém jazyce

The relationship between biases and entrepreneurial Decision-Making. Evidence from Italian and Czech SMEs

Popis výsledku anglicky

The present article analyzes how heuristic-driven biases (Overconfidence, Availability, and Anchoring) affect Entrepreneurial Decision Making (EDM) and identifies the role of SMEs in these relationships. Furthermore, it highlights the influence of organizational and contextual factors, which have rarely been investigated in the past. Employing a survey distributed to 316 entrepreneurs from SMEs in Italy and the Czech Republic, three separate regression models were constructed. These models aimed to investigate the impact of cognitive distortions on EDM and the influence of SME characteristics, such as the size or age of the company, in an intercultural context. The study addresses a gap in current research by going beyond individual and psychological aspects of decision-making. By focusing on organizational and contextual factors, it offers a more complete understanding of the influences on entrepreneurial decisions. The intercultural perspective, examining SMEs in both Italy and the Czech Republic, adds significant value to the study. As shown in the results, Overconfidence and Anchoring biases are likely to affect EDM in both Italian and Czech SMEs. Nationality does not play a role in these relationships, indicating its insignificance. On the other hand, the size and age of SMEs mitigate the influence of both biases on decision-making. The findings offer an in-depth comprehension of cognitive biases’ dynamics within EDM in SMEs, emphasizing the importance for organizations to factor in structural characteristics alongside the biases themselves when planning and managing their decision-making processes.

Druh

J_imp - Článek v periodiku v databázi Web of Science

CEP obor

—

OECD FORD obor

50204 - Business and management

Projekt

—

Návaznosti

I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Rok uplatnění

2024

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název periodika

International Entrepreneurship and Management Journal

ISSN

1554-7191

e-ISSN

1555-1938

Svazek periodika

20

Číslo periodika v rámci svazku

4

Stát vydavatele periodika

US - Spojené státy americké

Počet stran výsledku

26

Strana od-do

3323-3348

Kód UT WoS článku

001208180900001

EID výsledku v databázi Scopus

2-s2.0-85191317499