INFLUENCE OF MENTAL ACCOUNTING ON FINANCIAL DECISIONS OF AGRICULTURAL COMPANIES

Abstract

This article aims to highlight the determining factors of mental accounting and its influence on decision-making in agricultural companies, based on the methodology of how managers evaluate and organize their choices. It is based on the theory proposed by Richard Thaler, which emphasizes that individuals mentally classify their accounts and, due to cognitive biases, these choices are not always rational. The methodology used is classified, in terms of objectives, as descriptive, with a qualitative approach and cross-sectional design. Regarding the methodological procedures, a multi-case study was adopted, focused on understanding agricultural companies. The data are classified as qualitative, and were collected through semi-structured face-to-face interviews in five agricultural companies in the Brazilian Northeast, specifically with the managers in charge. The responses were analyzed using the Iramuteq tool, a text analysis software that creates graphic representations. With this, it was possible to perceive that rural managers use mental accounting to separate their mental accounts, adopting strategies and organizing how operations and investments will work. These decisions are influenced by previous experiences and reinforce the presence of behavioral biases. Studying this topic helps improve the economic efficiency of the sector, allowing for more rational and sustainable management. In addition, the study contributes to the advancement of knowledge about financial behavior in agriculture, by bringing together mental accounting and rural reality, also favoring the development of future research on this topic.