The impact of smart analytical methods in reducing financial biases data

Abstract

Financial institutions employ risk management strategies to mitigate the impact of potential financial losses. Nevertheless, the efficiency of these techniques can be hindered by financial biases. This research examines several kinds of financial biases that can affect decision-making and influence risk management, such as confirmation bias, overconfidence, and herding behavior. Furthermore, the study endeavors to evaluate the occurrence of financial biases in risk management practices among Moroccan companies. To accomplish this aim, a questionnaire will be used to collect data from risk management and IT professionals working in different financial institutions