Relación entre el exceso de confianza y el efecto de encuadre, con la toma de decisiones de inversión en activos fijos : un estudio intercultural Thesis

short description

  • Undergraduate thesis

Thesis author

  • Aranguren, Valentina
  • Barrantes, Paula


  • This article focused on the study of corporate behavioral finance, guided towards the relation between the biases of overconfidence and the framing effect, with the investment decision making in fixed assets, in an intercultural context. Also, it is worth highlighting, that the study was developed through the application of an instrument, to a group of four managers of companies in Colombia. This group was selected by a convenience sample, taking into account the accessibility and availability of time of the managers, bearing in mind that a plurality of nationalities was sought, in order to be able to make an intercultural comparison. Thus, a comparison was made between the identified biases and the cultural dimensions of each manager, based on the six dimensions proposed by Geert Hofstede (2011), in order to identify the traits that influence the decision making. Finally, this study concluded that some traits of culture can influence the existence and strength of some biases, such as overconfidence, and that, in other cases, a direct relationship wasn’t found, as in the framing effect.

publication date

  • 2018-01-11


  • Behavioral finance
  • Bias
  • Fixed assets
  • Frame effect
  • Investment
  • Overconfidence

Document Id

  • 648566a7-02cf-4f55-aeea-0c08fed2e1fe