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Irrationality of Investment Funds Managers in the Light of Available Information – Case of Poland

Author

Listed:
  • Monika Bolek

    (University of Lodz)

  • Rafal Wolski

    (University of Lodz)

Abstract

The purpose of the paper is related to understanding the preferences and motivations determining the decision making process of investment funds managers on the Polish market. Surveys concerning the investment environment, factors influencing decisions, as well as heuristics and decision traps related to investment funds managers behavior confirm the thesis that they reaction to information appearing on the market, with particular emphasis on messages from the Central Bank of Poland NBP is related to behavioral errors. The research is done on the Polish market, fast developing economy after system transformation, where the investment processes are becoming very important factor of the capital transfers mechanism. The value added of the paper is related to the direct surveys of investment funds managers in the context of the decision they make and heuristics they are affected by.

Suggested Citation

  • Monika Bolek & Rafal Wolski, 2019. "Irrationality of Investment Funds Managers in the Light of Available Information – Case of Poland," Proceedings of the 12th International RAIS Conference, April 3-4, 2019 4WB, Research Association for Interdisciplinary Studies.
    • Handle: RePEc:smo:cpaper:4wb
    as

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    References listed on IDEAS

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    Keywords

    investment funds; managers’ irrationality ; behavioural finance; central bank;
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