Artikli pealkiri: National Culture Dimension of Individualism and Overconfidence: Challenging the Prevailing Assumption
Autorid: Pavlo Illiashenko - Majandusanalüüsi ja rahanduse instituut, TalTech

Lühikokkuvõte:

The paper examines the underexplored relationship between national culture, specifically the individualism dimension, and individual overconfidence, measured as overestimation and overplacement. While previous finance research has suggested a positive association between individualism and risk-taking, mediated by overconfidence, the direct empirical link between individualism and overconfidence remains largely unsubstantiated. The present study aims to fill this gap by using data from both the original and revised (Minkov and Kaasa, 2022) Hofstede model of national culture, combined with overconfidence data from 27 countries (Ruggeri et al., 2023). Contrary to the prevailing assumption, the findings reveal a negative association between the national culture dimension of individualism and overconfidence. These results challenge established views on the cultural drivers of financial behavior and call for a reevaluation of the mechanisms linking culture, overconfidence, and risk-taking in the behavioral finance and corporate finance literature.

Tallinna Tehnikaülikooli Majandusanalüüsi ja rahanduse instituudi avatud teadusseminarid toimuvad tavaliselt kuu teisel ja neljandal kolmapäeval nii kohapealse kui online osalemisvõimalusega, kui ei ole teatatud teisiti. Ettekanne kestab u 45 minutit, millele järgneb veerand tundi arutelu. Seminar toimub inglise keeles. Ettekande aluseks olev artikkel on üldjuhul kättesaadav seminaril kohapeal. Küsimuste korral võib pöörduda seminaride koordinaatori Natalia Levenko poole: natalia.levenko@taltech.ee.