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

Erez Yaakobi and Ido Kallir

Chapter 11 in Behavioral Finance:A Novel Approach, 2020, pp 267-282 from World Scientific Publishing Co. Pte. Ltd.

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.

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 (search for similar items in EconPapers)
JEL-codes: G3 G30 G4 G41 (search for similar items in EconPapers)
Date: 2020
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