Emotional regulation and scenario simulation as a strategy for stock market investors

Authors

DOI:

https://doi.org/10.5585/2025.28135

Keywords:

tomada de decisão, regulação emocional, heurísticas e vieses cognitivos, simulação de cenários, investidores pessoa física

Abstract

Objective of the study: To propose an emotional regulation script to support individual investors in the decision-making process in the stock market.

Methodology/Approach: Exploratory-descriptive study with a qualitative approach. Data collection was carried out using the snowball sampling with non-probabilistic convenience sampling and the application of an electronic questionnaire to investors holding stocks in their portfolios.

Originality/Relevance: Decision-making in the stock market is influenced by emotional and cognitive factors, such as heuristics and biases, affecting both novice and experienced investors. Emotional regulation can reduce impulsive decisions, making the decision-making process more conscious and strategic. The proposed Emotional Regulation Script integrates different behavioral dimensions to mitigate these impacts on investment decisions.

Main results: The identification of emotions, the use of emotional regulation techniques (Gross, 2008), the recognition of heuristics and cognitive biases (Kahneman, 2012), and scenario simulation (Rojo, 2006) are highlighted as central elements in promoting more balanced decisions aligned with the investor’s profile.

Theoretical/methodological contributions: The research contributes by integrating principles of cognitive psychology and behavioral economics into a practical application for individual investors, offering a structured and applicable script to better manage the emotional and cognitive factors that affect rationality.

Practical/managerial implications: The study reinforces the need for strategies to minimize risks and maximize gains, providing greater clarity in the decision-making process and supporting investors in making conscious and structured decisions.

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Author Biographies

Néia de Bortoli, Universidade Estadual do Oeste do Paraná – Unioeste, Cascavel, Paraná, Brazil

Professional Master's in Business Administration from the State University of Western Paraná (UNIOESTE) (2022). Specialization in Cognitive Behavioral Therapy from Candido Mendes University (2020), Specialization in People Management from FGV (2011), Specialization in HR from Cesumar (2003), and Degree in Psychology from the State University of Maringá (2002). Professional journey developed in two companies: Sicredi (7 years): last position as People Management Manager, and TV Globo (6 years): last position as Executive Supervisor of Human Capital. A total of 13 years working in various HR competencies, including Change Management, Engagement Surveys, Compensation and Benefits, Recruitment and Selection, Training and Development. Additionally, leading projects and teams of professionals from various areas and roles. In 2019, after a career transition, the professional journey was redirected to clinical psychology work as a psychotherapist and to training and development for team members and leadership in companies across various sectors.

Claudio Antonio Rojo, Universidade Estadual do Oeste do Paraná – Unioeste, Cascavel, Paraná, Brasil

Post-Doctorate (2012) from the University of São Paulo - FEA / USP. Doctorate (2005) in Production Engineering from the Federal University of Santa Catarina - UFSC. Master's degree (2001) from UFSC. MBA from the State University of Maringá - UEM. Bachelor's degree (1990) in Business Administration from the State University of Western Paraná - UNIOESTE. He is an Associate Professor at UNIOESTE, where he teaches Strategic Planning at the undergraduate level and Strategic and Competitive Scenarios in the Professional Master's in Business Administration and the Master's in Accounting. Starting his career as a sales representative and sales supervisor, he quickly sought to deepen his knowledge in general business management. He has experience in both public and private administration. He served as the Administrative-Financial Director in the public sector, professor, coordinator, and director at private higher education institutions. Consultant and Speaker in Business Administration on the following topics: strategic planning, competitiveness, scenarios, personal finance, and entrepreneurship. Professor in the MBA programs in Strategic Management, Business Intelligence, and Accounting, Financial, and Auditing Management at UNIOESTE, Cascavel Campus - Paraná. In March 2010, he co-published with fellow researchers the books: - Management of Intangible Assets - from measurement to competitiveness through scenarios, published by Atlas, and Personal Finance: the gold of knowledge of all times (kindle edition AMAZON.COM) in Portuguese, English, Italian, and Mandarin. In 2014, he published the book Investment in Small-Cap Stocks - Brazilian Market Scenarios in print and kindle e-book versions. In 2015, he contributed to the e-book: Education and Environmental Management: Sustainability in Competitive Environments, in partnership with fellow professors. He was invited to contribute to the FIA faculty book, "Business Management Manual: Theory and Practice," published by Manole, São Paulo, 2021. Mensan MB3441. Intertel Member.

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Published

30.06.2025

How to Cite

de Bortoli, N., & Rojo, C. A. (2025). Emotional regulation and scenario simulation as a strategy for stock market investors. Revista Ibero-Americana De Estratégia, 24(3), e28135. https://doi.org/10.5585/2025.28135
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