Efeitos da sobrecarga informacional em decisões de investimentos

Abstract

The financial market is a scenario for expanding the equity of investors through the application of resources that generate remuneration in the future. However, in an investor being able to choose the type of investment that brings the highest return or the lowest risk, it is necessary that the investor can define an appropriate set of information to support his investment decision. In this sense, investor decision-making can suffer from several problems, with information overload being one of them. In view of this, this research seeks to answer the following question: What is the effect of information allocated to investment decision-making? The research aims to evaluate the effects of information overload, focusing on investment-focused decision-making, on the perception of accounting students. For this, descriptive research was carried out, with quantitative approach of the data, made possible through an experiment. The sample of the experiment consisted of 153 participants, with formation of three groups of 51 people, one for control. Information overload was verified, through the independent variables time and amount of information, and its effects on the dependent variable, investment decision making. A random questionnaire was applied among the participants of the research, where it should be chosen to invest or not in the alfa company, in the scenario analyzed. Through the results it was possible to verify that for a better investment-focused evaluation, a set of up to 4 information should be analyzed, and a larger set of information can be observed the greater the degree of knowledge about the financial market. When under the effect of information overload, individuals tend to repeat their decisions, based on the most remarkable information in their evaluation, and the information is most sought the balance sheet and the income statement. In the sample, the profile of the respondents was the majority of men, aged up to 25 years with gross family income of up to R$ 10,000. On the investor profile prevailed the conservative type with low knowledge about the financial market. Group 1 had the highest predominance of individuals with high knowledge, being the group with the highest number of information evaluated. Finally, the investment evaluated by the participants was considered as moderate. It is concluded that, in order to shield itself from the negative effects of overload (paralysis of analysis and repetition of the decision) it is necessary to have greater knowledge of the subject. The work brings as contributions the improvement of the study of the investment overload and an assistance to advisors and investment advisors in their commercial approaches.