Evaluation of the Model of Factors Influencing Cash Management and Illusion
Keywords:
Psychological Factors, Illusion Management, Cash Management, ManagementAbstract
Cash management and illusion are among the most vital aspects of financial management and play a key role in organizational success. Accordingly, the present study aimed to evaluate the model of factors affecting cash management and investor illusion. This research, in terms of overall strategy, was quantitative; in terms of implementation, it was field-based; and in terms of analytical technique, it was descriptive–correlational. The statistical population of this study included experts and managers of investment companies. The sampling method was convenience sampling. The sample size, based on the Krejcie–Morgan table and considering an error level of α = 0.05, was determined to be 72 individuals. To collect data, a researcher-made questionnaire on cash management and illusion (reliability α = 0.66) was used. The validity of the instrument was confirmed by management and psychology scholars. Data were analyzed using SPSS 22 and Smart PLS software through the structural equation modeling method. The causal conditions, through axial categories, influenced investment strategies and their consequences. In addition, intervening conditions and contextual conditions also had a direct impact on strategies. The research findings regarding the validation of the proposed model, after testing the paths, indicated the confirmation of the paths and the presented model. By achieving a better understanding of the factors and mechanisms influencing cash management and illusion, it is possible to improve financial decision-making and reduce the risks arising from investor illusions.
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Copyright (c) 2025 Heidar Ali Mardomkhah, Asgar Pakmaram, Nader Rezaei, Mohammad Nasiri (Author)
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