Ending the Management Illusion: How to Drive Business Results Using the Principles of Behavioral Finance
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The bestselling author of Beyond Greed and Fear puts behavioral concepts into corporate practice
Psychologically smart companies manage both the pluses and minuses of human psychology through well-structured systems and processes. In Ending the Management Illusion, behavioral finance pioneer Hersh Shefrin addresses the biases that can take you or your organization off course and shows how to run psychologically smart businesses-specifically as it affects your bottom line.
Shefrin explores the psychological barriers you experience, and delivers concrete debiasing techniques for breaking through these barriers. This allows you to integrate your processes for accounting, planning, incentives, and information sharing-the main elements for optimizing corporate value.
About the Author
Hersh Shefrin, Ph.D., holds the Mario L. Belotti Chair in the Department of Finance at the Leavey School of Business at Santa Clara University. One of the pioneers of behavioral finance, he has published scholarly articles in the Journal of Finance, Journal of Financial Economics, Review of Financial Studies, and many other journals. Dr. Shefrin is also the author of Beyond Greed and Fear.
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The service was excellent with respect to delivery and product
By F. Mccarley
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1 of 1 people found the following review helpful.
Bravo Hersh Shefrin - Another GREAT BOOK!!!
By Arthur Gitau Mbuthia
This is one of the most relevant books that managers can read, especially in times such as these of economic uncertainty. Through both real world examples, and a suggested simulation exercise, Shefrin enlightens the reader into the mindset of the psychologically smart enterprise. He discusses four dimensions which businesses should look at when evaluating decisions, including compensation and communication (areas which other finance books will be lacking). His discussions on bias "Gremlins" exposes the reader to what types of decision traps one might fall into if going with gut instinct instead of managing by numbers.
This is one business book you will not be able to put down. Shefrin demystifies the world of finance, in an effort to bring the theories and practices of behavioral finance to the hands of every employee.