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Does experience mat...
Does experience matter in lending? : a process-tracing study on experienced loan officers' and novices' decision behavior
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- Andersson, Patric (författare)
- Stockholm School of Economics,Handelshögskolan i Stockholm
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(creator_code:org_t)
- Elsevier, 2004
- 2004
- Engelska.
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Ingår i: Journal of Economic Psychology. - : Elsevier. - 0167-4870. ; 25:4, s. 471-492
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Abstract
Ämnesord
Stäng
- This empirical study investigates the effect of experience on decision behavior in lending to small firms. There were three groups of participants, business students (n=19), junior loan officers (n=19), and senior loan officers (n=23), reflecting the following three levels of experience: novice, intermediate experience, and expert. Participants interacted with a software program and ade decisions about two realistic loan propositions. The results showed that: (i) senior loan officers acquired significantly more cues than the other two groups; (ii) the three groups had similar levels of internal consistency; (iii) neither senior nor junior loan officers acquired information in an active manner; (iv) senior loan officers tended to be cautious whereas novices plunged into judgment and decision-making; (v) senior loan officers were biased towards rejecting; and (vi) junior and senior loan officers took more time before making decisions. Besides the contribution to our understanding of experienced decision-makers in business life, the findings have implications for research on decision-making, small business finance, banking, and risk research.
Ämnesord
- SAMHÄLLSVETENSKAP -- Ekonomi och näringsliv -- Företagsekonomi (hsv//swe)
- SOCIAL SCIENCES -- Economics and Business -- Business Administration (hsv//eng)
Publikations- och innehållstyp
- art (ämneskategori)
- vet (ämneskategori)
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