Control and the illusion of control in the financial decisions of entrepreneurs

Joanna Chudzian1, Ada Ładno, Olga Podlińska3
1, 3 Warsaw University of Life Sciences – SGGW, Poland,
Chudzian, Joanna; ORCID: 0000-0001-5565-1319 (Warsaw University of Life Sciences – SGGW, Poland)
Ładno, Ada
Podlińska, Olga; ORCID: 0000-0001-7249-970X (Warsaw University of Life Sciences – SGGW, Poland)
Control and the illusion of control in the financial decisions of entrepreneurs
Annals of Marketing Management and Economics, 2018, vol.4, nr 2, s. 19-30

Słowa kluczowe

control illusion of control rationality decision-making process financial decisions

JEL Classification

D81 G11

Streszczenie

The article concerns the phenomenon of control and illusion of control In financial decisions of Polish enterprises. The article identifies the main determinants of the illusion of control. The aim of the paper is to assess the level of control and the degree of illusion of control. For this purpose a CAWI survey was conducted on a group of persons employed in enterprises and responsible for financial decisions. The empirical part of the article presents an primary study conducted among financial directors which showed high results of surveyed entrepreneurs in the area of control and the observed phenomenon of the illusion of control in decision-making situations in the field of finance. At the same time, the main factors influencing the level of the illusion of control were verified.