Tomada de decis?o na gest?o de fundos de investimento de renda vari?vel sob a perspectiva natural?stica
Ano de defesa: | 2017 |
---|---|
Autor(a) principal: | |
Orientador(a): | |
Banca de defesa: | |
Tipo de documento: | Dissertação |
Tipo de acesso: | Acesso aberto |
Idioma: | por |
Instituição de defesa: |
Pontif?cia Universidade Cat?lica do Rio Grande do Sul
|
Programa de Pós-Graduação: |
Programa de P?s-Gradua??o em Administra??o e Neg?cios
|
Departamento: |
Escola de Neg?cios
|
País: |
Brasil
|
Palavras-chave em Português: | |
Área do conhecimento CNPq: | |
Link de acesso: | http://tede2.pucrs.br/tede2/handle/tede/7522 |
Resumo: | Financial investment decisions are dynamic and complex because they are driven by a number of factors, such as the macroeconomic context, the volatility of the markets and the potential risk of financial loss that impact the value of the assets. In this scenario, investors seek to organize themselves through Investment Funds, require the definition of policies and regulations, and hire experienced Managers who can achieve a better performance for their equity. Given the criticality of this Management, whether due to its effect on investors' equity or through the propagation of mistaken analyzes about the economy, it implies the need to understand better how the decision-making of these Managers is, in fact, structured in real contexts. From this perspective, the objective of this work is to characterize the decisionmaking of the Managers of Investment Funds in Variable Income in the perspective of the naturalistic decision. This research presents a qualitative study with 13 Managers of Investment Funds in Variable Income that manage 31 Investment Funds. In addition to exploratory interviews and analysis of documents of approximation with the field of study, the RPD (recognition-primed decision) model was used based on episodic interviews through the CDM (critical decision method) protocol to elicit knowledge about manager?s critical decision activities, which are the allocation and management of the portfolio. The results suggest that the management of the Investment Fund does not obey the order of the choices and the Manager's expertise and intuition plays a decisive role in the construction of investment strategies. The data also show that there are significant differences between novice managers and experts who impact on performance, being the expert defined by the repertoires of acquired standards and their model of mental simulations practiced. It was also explored that self-regulation and self-efficacy constructs may explain differences in performance over time. Finally, research contributions and limitations are presented. |
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Henriqson, ?der931.418.230-49http://buscatextual.cnpq.br/buscatextual/visualizacv.do?id=K4751160P5771.502.520-87http://buscatextual.cnpq.br/buscatextual/visualizacv.do?id=K8540818D1Rodrigues, Rafael Disconzi2017-06-30T18:21:58Z2017-03-24http://tede2.pucrs.br/tede2/handle/tede/7522Financial investment decisions are dynamic and complex because they are driven by a number of factors, such as the macroeconomic context, the volatility of the markets and the potential risk of financial loss that impact the value of the assets. In this scenario, investors seek to organize themselves through Investment Funds, require the definition of policies and regulations, and hire experienced Managers who can achieve a better performance for their equity. Given the criticality of this Management, whether due to its effect on investors' equity or through the propagation of mistaken analyzes about the economy, it implies the need to understand better how the decision-making of these Managers is, in fact, structured in real contexts. From this perspective, the objective of this work is to characterize the decisionmaking of the Managers of Investment Funds in Variable Income in the perspective of the naturalistic decision. This research presents a qualitative study with 13 Managers of Investment Funds in Variable Income that manage 31 Investment Funds. In addition to exploratory interviews and analysis of documents of approximation with the field of study, the RPD (recognition-primed decision) model was used based on episodic interviews through the CDM (critical decision method) protocol to elicit knowledge about manager?s critical decision activities, which are the allocation and management of the portfolio. The results suggest that the management of the Investment Fund does not obey the order of the choices and the Manager's expertise and intuition plays a decisive role in the construction of investment strategies. The data also show that there are significant differences between novice managers and experts who impact on performance, being the expert defined by the repertoires of acquired standards and their model of mental simulations practiced. It was also explored that self-regulation and self-efficacy constructs may explain differences in performance over time. Finally, research contributions and limitations are presented.As decis?es de investimento financeiro s?o din?micas e complexas pois s?o orientadas por uma s?rie de fatores, tais como, o contexto macroecon?mico, a volatilidade dos mercados e o risco potencial de perda financeira, que impactam o valor dos ativos. Nesse cen?rio, os investidores buscam se organizar atrav?s de Fundos de Investimento, exigem a defini??o de pol?ticas e regulamentos, e contratam Gestores experientes que consigam obter um melhor desempenho para seu patrim?nio. Tendo em vista a criticidade dessa Gest?o, quer seja por seu efeito sobre o patrim?nio dos investidores, quer seja pela propaga??o de an?lises equivocadas sobre a economia, implica na necessidade de se compreender melhor como a tomada de decis?o desses Gestores ?, de fato, estruturada em contextos reais. Sob essa ?tica, o objetivo desse trabalho ? caracterizar a tomada de decis?o dos Gestores de Fundos de Investimento em Renda Vari?vel na perspectiva da decis?o natural?stica. Esta pesquisa apresenta um estudo qualitativo com 13 Gestores de Fundos de Investimento em Renda Vari?vel que administram 31 Fundos de Investimento. Al?m de entrevistas explorat?rias e an?lise de documentos de aproxima??o com o campo de estudo, foi utilizado o modelo RPD (recognition-primed decision) com base em entrevistas epis?dicas atrav?s do protocolo CDM (critical decision method) para elicitar conhecimento sobre as atividades cr?ticas de decis?o dos Gestores que s?o a aloca??o e a gest?o do portfolio. Os resultados sugerem que a gest?o de Fundo de Investimento n?o obedece a ordem das escolhas e a expertise e a intui??o do Gestor possui um papel determinante na constru??o de estrat?gias de investimento. Os dados demonstram ainda que existem diferen?as relevantes entre Gestores novatos e peritos que impactam no desempenho, sendo o perito definido pelos repert?rios de padr?es adquiridos e seu modelo de simula??es mentais praticadas. Explorou-se tamb?m que os construtos de auto-regula??o e auto-efic?cia podem explicar diferen?as entre o desempenho ao longo do tempo. Por fim, contribui??es e limita??es da pesquisa s?o apresentadas.Submitted by Caroline Xavier (caroline.xavier@pucrs.br) on 2017-06-30T18:21:58Z No. of bitstreams: 1 DIS_RAFAEL_DISCONZI_RODRIGUES_COMPLETO.pdf: 4695909 bytes, checksum: fc844750192918b1e6b362882fbecf30 (MD5)Made available in DSpace on 2017-06-30T18:21:58Z (GMT). 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dc.title.por.fl_str_mv |
Tomada de decis?o na gest?o de fundos de investimento de renda vari?vel sob a perspectiva natural?stica |
title |
Tomada de decis?o na gest?o de fundos de investimento de renda vari?vel sob a perspectiva natural?stica |
spellingShingle |
Tomada de decis?o na gest?o de fundos de investimento de renda vari?vel sob a perspectiva natural?stica Rodrigues, Rafael Disconzi Tomada de Decis?o Fundo de Investimento Decis?o Natural?stica Experi?ncia Intui??o CIENCIAS SOCIAIS APLICADAS::ADMINISTRACAO |
title_short |
Tomada de decis?o na gest?o de fundos de investimento de renda vari?vel sob a perspectiva natural?stica |
title_full |
Tomada de decis?o na gest?o de fundos de investimento de renda vari?vel sob a perspectiva natural?stica |
title_fullStr |
Tomada de decis?o na gest?o de fundos de investimento de renda vari?vel sob a perspectiva natural?stica |
title_full_unstemmed |
Tomada de decis?o na gest?o de fundos de investimento de renda vari?vel sob a perspectiva natural?stica |
title_sort |
Tomada de decis?o na gest?o de fundos de investimento de renda vari?vel sob a perspectiva natural?stica |
author |
Rodrigues, Rafael Disconzi |
author_facet |
Rodrigues, Rafael Disconzi |
author_role |
author |
dc.contributor.advisor1.fl_str_mv |
Henriqson, ?der |
dc.contributor.advisor1ID.fl_str_mv |
931.418.230-49 |
dc.contributor.advisor1Lattes.fl_str_mv |
http://buscatextual.cnpq.br/buscatextual/visualizacv.do?id=K4751160P5 |
dc.contributor.authorID.fl_str_mv |
771.502.520-87 |
dc.contributor.authorLattes.fl_str_mv |
http://buscatextual.cnpq.br/buscatextual/visualizacv.do?id=K8540818D1 |
dc.contributor.author.fl_str_mv |
Rodrigues, Rafael Disconzi |
contributor_str_mv |
Henriqson, ?der |
dc.subject.por.fl_str_mv |
Tomada de Decis?o Fundo de Investimento Decis?o Natural?stica Experi?ncia Intui??o |
topic |
Tomada de Decis?o Fundo de Investimento Decis?o Natural?stica Experi?ncia Intui??o CIENCIAS SOCIAIS APLICADAS::ADMINISTRACAO |
dc.subject.cnpq.fl_str_mv |
CIENCIAS SOCIAIS APLICADAS::ADMINISTRACAO |
description |
Financial investment decisions are dynamic and complex because they are driven by a number of factors, such as the macroeconomic context, the volatility of the markets and the potential risk of financial loss that impact the value of the assets. In this scenario, investors seek to organize themselves through Investment Funds, require the definition of policies and regulations, and hire experienced Managers who can achieve a better performance for their equity. Given the criticality of this Management, whether due to its effect on investors' equity or through the propagation of mistaken analyzes about the economy, it implies the need to understand better how the decision-making of these Managers is, in fact, structured in real contexts. From this perspective, the objective of this work is to characterize the decisionmaking of the Managers of Investment Funds in Variable Income in the perspective of the naturalistic decision. This research presents a qualitative study with 13 Managers of Investment Funds in Variable Income that manage 31 Investment Funds. In addition to exploratory interviews and analysis of documents of approximation with the field of study, the RPD (recognition-primed decision) model was used based on episodic interviews through the CDM (critical decision method) protocol to elicit knowledge about manager?s critical decision activities, which are the allocation and management of the portfolio. The results suggest that the management of the Investment Fund does not obey the order of the choices and the Manager's expertise and intuition plays a decisive role in the construction of investment strategies. The data also show that there are significant differences between novice managers and experts who impact on performance, being the expert defined by the repertoires of acquired standards and their model of mental simulations practiced. It was also explored that self-regulation and self-efficacy constructs may explain differences in performance over time. Finally, research contributions and limitations are presented. |
publishDate |
2017 |
dc.date.accessioned.fl_str_mv |
2017-06-30T18:21:58Z |
dc.date.issued.fl_str_mv |
2017-03-24 |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/masterThesis |
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masterThesis |
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publishedVersion |
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http://tede2.pucrs.br/tede2/handle/tede/7522 |
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http://tede2.pucrs.br/tede2/handle/tede/7522 |
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por |
language |
por |
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600 600 600 |
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8024035432632778221 |
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info:eu-repo/semantics/openAccess |
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openAccess |
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Pontif?cia Universidade Cat?lica do Rio Grande do Sul |
dc.publisher.program.fl_str_mv |
Programa de P?s-Gradua??o em Administra??o e Neg?cios |
dc.publisher.initials.fl_str_mv |
PUCRS |
dc.publisher.country.fl_str_mv |
Brasil |
dc.publisher.department.fl_str_mv |
Escola de Neg?cios |
publisher.none.fl_str_mv |
Pontif?cia Universidade Cat?lica do Rio Grande do Sul |
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