Golf as an Innovation in the Teaching of Finance: Report on a Pioneering Experience
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Wesley Mendes-da-Silva
Abstract
Objective To analyze the possibility of using golf as a metaphor for teaching finance. Study reports on a pilot experience of teaching finance using golf as a metaphor.Golf can be a means of promoting the engagement of finance students.Theoretical framework: a normative and positive economic decision theory is used as a framework. Sports can be a means of engaging students in finance education programs. Golf, in particular, can fulfill this role and serve as a powerful tool for building and maintaining social networks relevant to high-level professionals. Methods: thirty undergraduate students voluntarily participated in a pilot teaching program over five days. The program included sessions (in the field) on the fundamentals of golf and financial decisions, and students looked for synergies between these two domains. Participants showed a high level of interest in both the sports practice sessions and the finance activities. Results: the results suggest that psychological errors common to golf and financial behavior—for example, overoptimism, overconfidence, and emotional judgments—can be diagnosed and addressed through sports practice. In addition, the participants’ selfassessment indicates the possibility that the program can induce behaviors in line with the corporate environment. Conclusions: Despite golf’s contribution to the teaching of business subjects, it is still absent from formal curricula.
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Mendes-da-Silva, W. (2024). Golf as an Innovation in the Teaching of Finance: Report on a Pioneering Experience. Journal of Contemporary Administration, 28(1), e230075. https://doi.org/10.1590/1982-7849rac2024230075.en
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Gervais, S., & Odean, T. (2001). Learning to be overconfident. The Review of Financial Studies, 14(1),1–27. https://www.jstor.org/stable/2696755
Gilovich, T., Vallone, R., & Tversky, A. (1985). The hot hand in basketball: On the misperception of random sequences. Cognitive Psychology, 17(3), 295–314. https://psycnet.apa.org/doi/10.1016/0010-0285(85)90010-6
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Grov, E. K., & Dahl, A. A. (2019). Journal of Psychosocial Nursing and Mental Health Services, 57(10), 44-51. https://doi.org/10.3928/02793695-20190528-02
Hellström, J. (2009). Psychological hallmarks of skilled golfers. Sports Medicine, 39, 845–855. https://doi.org/10.2165/11317760-000000000-00000
Hill, D.M., Hanton, S., & Matthews, N., Fleming, S. (2011). Alleviation of choking under pressure in elite golf: An action research study. The Sport Psychologist, 25(4), 465–488. https://psycnet.apa.org/record/2012-00749-003
Hoitash, U. (2011). Should independent board members with social ties to management disqualify themselves from serving on the board? Journal of Business Ethics, 99,399–423. https://jstor.org/stable/41476206
Hunt, P. (1950). Materials and methods of teaching business finance (III). The Journal of Finance, 5(3), 280-284. https://www.jstor.org/stable/2975527
Kahneman, D., & Tversky, A. (1979). Prospect theory: An analysis of decision under risk. Econometrica, 47(2), 263–291. https://web.mit.edu/curhan/www/docs/Articles/15341_Readings/Behavioral_Decision_Theory/Kahneman_Tversky_1979_Prospect_theory.pdf
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