外生冲击:新冠肺炎大流行迷雾中工业企业家信心的等级效应

IF 1.9 Q2 BUSINESS, FINANCE
Elimar Veloso Conceição, Fabiano Guasti Lima
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引用次数: 0

摘要

在投资决策的背景下,外生冲击及其对投资者信心的影响之间错综复杂的相互作用显著地塑造了他们的行为,从而影响了他们的结果。投资决策受到不确定性、外部冲击以及投资者情绪和信心的影响,而这些因素通常被决策者所忽视。本研究将仔细研究这些多方面的影响,并在COVID-19大流行期间发现工业企业家情绪中复杂的层次差异。设计/方法/方法采用广义线性潜在和混合模型(GLLAMM)的稳健框架,本研究将彻底调查不同数据汇编中存在的个人和群体特质。此外,它将深入研究不同部门和地区的干扰的外生性。从这项研究中收集到的相关见解阐明了包括流行病和金融危机在内的外部力量对工业企业家信心的不利影响。此外,在区域分析中出现了一个重大发现,揭示了工业企业家观念在部门和区域范围内传播模式的显著同质性。这一发现表明,在全球外生冲击的情况下,区域影响有所缓解。原创性/价值在学术研究的范围内,本研究提供了一个创新的视角,揭示了外部冲击及其对工业企业家情绪的重大影响之间复杂的相互作用。此外,利用稳健的GLLAMM捕获了这种关系的层次维度,提高了分析的精度。这种方法为基于数据的战略方向提供了重要推动力。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
Exogenous shock: hierarchical effect of the industrial entrepreneur confidence in the mist of the COVID-19 pandemic

Purpose

In the context of investment decisions, the intricate interplay between exogenous shocks and their influence on investor confidence significantly shapes their behaviors and, consequently, their outcomes. Investment decisions are influenced by uncertainties, exogenous shocks as well as the sentiments and confidence of investors, factors typically overlooked by decision-makers. This study will meticulously examine these multifaceted influences and discern their intricate hierarchical nuances in the sentiments of industrial entrepreneurs during the COVID-19 pandemic.

Design/methodology/approach

Employing the robust framework of the generalized linear latent and mixed models (GLLAMM), this research will thoroughly investigate individual and group idiosyncrasies present in diverse data compilations. Additionally, it will delve deeply into the exogeneity of disturbances across different sectors and regions.

Findings

Relevant insights gleaned from this research elucidate the adverse influence of exogenous forces, including pandemics and financial crises, on the confidence of industrial entrepreneurs. Furthermore, a significant discovery emerges in the regional analysis, revealing a notable homogeneity in the propagation patterns of industrial entrepreneurs' perceptions within the sectoral and regional context. This finding suggests a mitigation of regional effects in situations of global exogenous shocks.

Originality/value

Within the realm of academic inquiry, this study offers an innovative perspective in unveiling the intricate interaction between external shocks and their significant impacts on the sentiment of industrial entrepreneurs. Furthermore, the utilization of the robust GLLAMM captures the hierarchical dimension of this relationship, enhancing the precision of analyses. This approach provides a significant impetus for data-informed strategic directions.

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来源期刊
Review of Behavioral Finance
Review of Behavioral Finance BUSINESS, FINANCE-
CiteScore
4.70
自引率
5.00%
发文量
44
期刊介绍: Review of Behavioral Finance publishes high quality original peer-reviewed articles in the area of behavioural finance. The RBF focus is on Behavioural Finance but with a very broad lens looking at how the behavioural attributes of the decision makers influence the financial structure of a company, investors’ portfolios, and the functioning of financial markets. High quality empirical, experimental and/or theoretical research articles as well as well executed literature review articles are considered for publication in the journal.
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