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Boys Don’t Cry? The Emotional Effects of Poor Financial Savings Decisions among Males and Females

In: Behavioral Finance A Novel Approach

Author

Listed:
  • Erez Yaakobi
  • Ido Kallir

Abstract

Previous research examined the causes for suboptimal financial decisions. However, scant research has been devoted to examine the psychological effects of suboptimal financial decisions. This chapter empirically examines the emotional outcomes of pension and provident suboptimal financial decisions. Study 1 reveals that the word pension elicits many negative associations. Study 2 reveals that suboptimal pension and provident decisions lead to greater accessibility of negative thoughts. Moreover, the greater accessibility of negative thoughts following suboptimal financial decisions was found to be more salient among male then female participants. In this chapter, we provide theoretical as well as practical applications of the current findings. We also suggest future research directions that could be conducted to better enable capture this important topic.

Suggested Citation

  • Erez Yaakobi & Ido Kallir, 2020. "Boys Don’t Cry? The Emotional Effects of Poor Financial Savings Decisions among Males and Females," World Scientific Book Chapters, in: Itzhak Venezia (ed.), Behavioral Finance A Novel Approach, chapter 11, pages 267-282, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789811229251_0011
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    Keywords

    Analysts Recommendations; Behavioral Biases; Behavioral Economics; Behavioral Finance; Board of Directors ; Compensation; Compensation Committee; Control; Coronavirus; Corporate Governance; COVID-19; Decision Making; Disposition Effect; Earnings Management; Elections; Emotions; Financial Crises; Financial Market Anomalies; Financial Markets; Forecast-Accuracy; Gender Differences; Heuristics; Interval Forecasting; Investment; Investor Horizon; Investors' Beliefs; IPO Under-Pricing; Life Expectancy; Myopia; Overconfidence; Pensions Industry; Policy Reforms; Polls; Portfolio Risk; Prediction Markets; Regulation; Stock Price Drifts; Time Preferences;
    All these keywords.

    JEL classification:

    • G41 - Financial Economics - - Behavioral Finance - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making in Financial Markets
    • G4 - Financial Economics - - Behavioral Finance
    • G3 - Financial Economics - - Corporate Finance and Governance
    • G30 - Financial Economics - - Corporate Finance and Governance - - - General

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