Investor Psychology And Decision Making; Based On Overconfidence And Self Attribution Bias: Evidence From Islamabad Stock Exchange (Ise)

In this paper we intend to research the managerial style at upper and lower level within the same organization. Obviously, the managerial style differs from an organization to another, but the question is whether/to what extent it differs within the same organization at different levels. The managerial style is closed related to the corporate culture. Managers can and should determine the kind of corporate culture they wish to work within and strive to make sure that kind of culture develops. Culture is often viewed in terms of the level of participation within the organization. The managerial approach in most organization has been characterized as highly structured. Consequently, most attempts to alter organizational culture have been directed towards creating a more open and participative culture. In accordance with participative and non-participative cultures there are participative and nonparticipative managers at all levels of the organization; they influence one another. We would be tempted to say they are the same within the same organization, but people think and action in the diffrent ways, even if they work within the same organization. The supervisors can behave diffrent from their managers. The attitudes and preferences of supervisors affect how a job is done. This deserves special emphasis here because of the problems that can result if the managerial style of upper-level managers differs from that of lower-level managers. The managerial style of the immediate supervisor will have a considerable effect on the culture of the group, and vice versa. If the manager is aloof and distant in dealing with subordinates, this attitude could have a negative influence on the organization. Consideration is a desirable leadership characteristic that can positively influence group effectiveness. We studied these theoretical aspects in practice as well. We chose investigation within the Flexibility and Performance by Management (FPM) Project, as a research method. 76 managers or entreprenours from Bihor county particepared at this project, attending seven cources in management field. The project’ s general objective was: development of the managers' professional skills for both to prepare them for promoting adaptability and introduction of new technologies. We used the project’s base date, but focused on finding out whether the managerial style differs within the same organization at different levels.