Managers' Risk-Taking and Optimism: Analysis of Neuro finance Model Based on Hormone Measurement

Subject Areas : Management Accounting

Maryam Nouraei ¹ , ataallah mohammadiolgharni m ² , iraj noravesh ³ , Kaveh Bahman Pour ⁴

1 - Accounting group, Sanandaj Branch, Islamic Azad University, Sanandaj, Iran
2 - Accounting group, Sanandaj Branch, Islamic Azad University, Sanandaj, Iran
3 - Tehran University, Tehran, Iran
4 - Department of Nursing and Midwifery, Sanandaj Branch, Islamic Azad University, Sanandaj, Iran

Received: 2021-06-05 Accepted : 2021-06-05 Published : 2021-05-22

Keywords: Neurofinance, optimism, Risk-taking,

Abstract :

The aim of the current study was to investigate the role of hormones in financial behaviors. Risk-taking and optimism are two behavioral characteristics of managers and investors; for this purpose, these two behavioral factors and the level of hormones affecting them were studied. The research hormones included testosterone, free testosterone, T3, T4, TSH, and cortisol, which were measured by a blood test in a medical laboratory. Age and gender were also the other two variables of the study. The statistical population included financial managers working in government institutions and banks and a standard questionnaire was used to collect qualitative data. Data analysis was performed using RSM, SPSS, and LISREL software. This experimental research is cross-sectional in terms of time, quantitative in terms of data, and fundamental-applied in terms of purpose. The results indicated that hormone levels, gender, and age have significant effects on risk and optimism. These findings are in line with the results of neurofinance research.

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