Open Universiteit

Please use this identifier to cite or link to this item: http://hdl.handle.net/1820/6657
Title: Happiness Een onderzoek naar de rol van de emotionele gedragsfactor happiness op investeringsbeslissingen (a Study on the Influence of the Emotional Behavioral Factor Happiness on Investment Decisions)
Authors: Jooss
Keywords: Key words: Happiness, Subjective Well-Being, Behavioural finance, Investment Decisions, Emotions, Heuristics, Mood misattribution, Qualitative Research, Pattern Matching
Issue Date: 9-Feb-2015
Publisher: Open Universiteit Nederland
Abstract: Jan-Joris Jooss, Faculty Management, Science & Technology, Open Universiteit Nederland Abstract of Master’s Thesis, submitted 9 February 2015 A Study on the Influence of the Emotional Behavioural Factor Happiness on Investment Decisions Happiness or Subjective Well Being (SWB) is a factor of influence when people make decisions. Happiness research in the field of behavioural finance has been mainly focused on consumers and investors. The research in the field of behavioural corporate finance science is less advanced. The purpose of this thesis is to find out how the emotional behavioural factor happiness influences decision making on capital investments within organizations. The research starts with a literature study followed by a case study where data are empirically gathered. This thesis starts with a literature study on the topic of happiness, resulting in a proposed framework of happiness. The framework describes the way happiness is influenced and shows how happiness influences investment decisions. The relations between the different factors are explained and described in preliminary hypotheses. Data gathering, for the largest part, is done by using qualitative research methods. Semi-structured interviews and document studies are conducted to obtain the empirical data. To support the qualitative research, a questionnaire based on a Likert-scale is used. The qualitative data are analysed using the technique of pattern matching. The results show patterns that largely support the proposed framework and the preliminary hypotheses. Happiness is influenced by the personal situation, organizational factors and uncertainty. When a decision maker experiences a higher level of happiness, he is more likely to use “fast thinking”. The results show that happiness leads to mood misattribution by “fashion & fads”. The occurrence of mood misattribution increases the use of the affect heuristic. The time needed by the process of decision making decreases when the affect heuristic is more present. The results also show that a lower risk perception leads to a faster decision-making process. The proposed framework is for the most part supported by the results. The presented results are, for the largest part, deductive; however some results are exploratory. Future research should therefore be carried out to decrease the existing gap in knowledge between the relative mature behavioural finance and behavioural corporate finance on emotional behavioural factors and to increase the knowledge of how happiness influences investment decisions. This future research could focus itself on those parts of the framework that are not supported by patterns in this research. Key words: Happiness, Subjective Well-Being, Behavioural finance, Investment Decisions, Emotions, Heuristics, Mood misattribution, Qualitative Research, Pattern Matching
URI: http://hdl.handle.net/1820/6657
Appears in Collections:MSc Management Science

Files in This Item:
File Description SizeFormat 
Jooss JJ scriptie definitief.pdf1.41 MBAdobe PDFView/Open


Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.