Psychological Capital: Impacts on Asset Management |
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Authors: | Nicolas Chang Flavia Cavazotte Samira Pompeu |
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Institution: | IAG School of Business, Pontifical Catholic University of Rio de Janeiro (PUC-Rio), Rio de Janeiro, Brazil |
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Abstract: | Drawing together the areas of behavioral finance and positive psychology, the present research sought to investigate whether the psychological capital of investment fund managers is associated with fund performance in a context of financial instability. The theoretical propositions were presented and evaluated empirically through primary data on investment fund manager profiles and secondary data on the cumulative stock fund returns. The results indicate that funds managed by managers with greater resilience and optimism obtained a higher return than the mean profitability in a period of market instability. |
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Keywords: | Positive psychology psychological capital investment funds |
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