Graduate Student Works
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Browsing Graduate Student Works by Subject "Behavioral Sciences"
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Item Financial Advisor Decisions and Behavioral Biases(2022-08) Garduno, Jeremy C.Various studies have examined investor behavioral biases and the perceived value financial advisors provide to their clients. However, the academic literature examining behavioral biases among financial experts is scarce. This qualitative study focused on understanding what behavioral biases affect the portfolio manager and financial advisor decision process. The results of this study indicated that advisors are not immune to many of the same behavioral biases found in individual investors. The dominant biases found in this study supported past empirical findings on expert biases. Participants’ responses from this research indicated that advisors’ conformity and experiences led to advisor herding and overconfident behaviors. Data-driven results showed that advisor conformity could manifest into a moderate-risk bias. Moderate-risk bias is the advisor’s tendency to classify investment allocation and client risk tolerance to a moderate-risk level. Another key finding was that advisor behavioral bias awareness aided the advisor’s financial decision making process. The more advisors were aware of biases the more they could clearly articulate that bias to clients. Advisors’ responses during interviews indicated that if they could effectively communicate and discuss that behavior with clients, they could adopt practical strategies to suppress behavioral biases and avoid predictable cognitive errors. Early adoption of bias suppression could have practical implications in understanding and explaining advisor value to clients.Item The Phenomenon of Blacks Emerging Out of Poverty into Prominent Leadership Positions(2022-12) Board, AfarahA disproportionate number of Blacks live in poverty, experience trauma and adversity as children, and face more challenges to achieve success than non-Blacks. Yet still some rise. Why is that? This phenomenological study explores answers. The researcher examined the lived experiences of Blacks who lived in poverty, scored high adverse childhood experiences (ACE) levels, and underwent other traumatic experiences. The participants completed the ACE questionnaire, and the researcher conducted interviews, evaluated scores, and captured the essence of their stories. Responses to research questions focused on what motivated the participants to emerge from poverty and adversity to become prominent leaders, the advice they would give to their younger selves, and the leadership traits and principles they practice as leaders today. The study established that all participants lived in poverty, experienced adversity and trauma as a child but were able to emerge into successful positions. A significant finding is that participants in this study defied the odds by overcoming their poverty, adversity, and trauma to emerge into success and give hope to other Black children. Participants were motivated by self-determination, support of their family, extended family—or “the village"—and strong belief in Christ. The experiences of resiliency and the strong personal will to succeed led them to form natural leadership characteristics at a young age, transform their circumstances and environments, and develop a desire to serve others. These leaders operationalize a variety of leadership principles in their current positions. Hear their life stories and view the research results within the study.