Executive characteristics and internationalization decisions
Χαρακτηριστικά στελεχών και αποφάσεις διεθνοποίησης
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Keywords
Overconfidence ; Decision-making ; ExportsAbstract
The interest of the present study arises from the fact that the Greek economy presents a significantly reduced export activity, something harmful and with a negative impact on its profitability. Given that the import-export balance as a percentage of GDP is -12.4% and the low percentage of exports in relation to Greece's GDP (18.6%), the export decisions of Greek companies, as well as their soundness, become the subject of vital of study.
In this work, the framework of the study of export decisions is the investigation of the existence of excessive self-confidence (overconfidence) in the executives who are responsible for the decisions in question regarding the initiation of export procedures.
The reason this parameter is considered is that decision-making influenced by overconfidence (overconfidence) is something particularly important as overconfidence is a factor that may lead to wrong decisions, the results of which are highly uncertain in terms of the success of an export decision. Considering therefore that the Greek economy could benefit from an increase in successful exports, the present study is of particular interest.
The purpose of the present study, beyond the investigation of the higher correlation, is also the investigation of possible extensions of the findings to proposals for improving the existing export situation of the country.
For the above purposes and the investigation of said correlation, a questionnaire was constructed with 20 questions of general knowledge and 4 export scenarios, all accompanied by a question about the percentage of certainty for each individual answer. The specific questionnaire was administered exclusively to export executives of Greek exporting companies who are in contact or related to similar decisions.
The results of the research advocate to open the discussion on the specific correlation further and to structure more intensive investigations, with the aim of the final modeling and full decoding of the correlation in question.