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Emotional Finance – Zum Einfluss von Emotionen auf Investmententscheidungen

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  • Leef H. Dierks
  • Sonja Tiggelbeck

Abstract

Emotional Finance emphasizes that (unconscious) emotions have a decisive impact on individual decision-making under uncertainty and thus on (financial) market developments. Based on the events surrounding German financial services provider Wirecard, this contribution discusses aspects of rationality versus irrationality and illustrates how cognitive biases and emotions affect and can potentially flaw decision-making. / Emotional Finance zeigt wie (unbewusste) Emotionen der Marktteilnehmer individuelle Investitionsentscheidungen und damit das (Finanz-)Marktgeschehen maßgeblich beeinflussen können. Dieser Beitrag stellt das Zusammenspiel kognitiver Verzerrungen und Emotionen im Spannungsfeld von Rationalität und Irrationalität sowie die daraus erwachsenden Konsequenzen auf die Entscheidungsfindung exemplarisch am Fall des Finanzdienstleisters Wirecard AG dar. Verdeutlicht wird, weshalb private und Institutionelle Investoren dem Narrativ des Unternehmens trotz offensichtlicher bilanzieller Ungereimtheiten bis zuletzt Vertrauen entgegenbrachten.

Suggested Citation

  • Leef H. Dierks & Sonja Tiggelbeck, 2021. "Emotional Finance – Zum Einfluss von Emotionen auf Investmententscheidungen," Der Betriebswirt, Duncker & Humblot, Berlin, vol. 62(2), pages 123-133.
    • Handle: RePEc:dah:aeqdbw:v62_y2021_i2_q2_p123-133
    DOI: 10.3790/dbw.62.2.123
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