Golf as an Innovation in the Teaching of Finance: Report on a Pioneering Experience

Mendes-da-Silva, Wesley

doi:10.1590/1982-7849rac2024230075.en

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Theoretical-empirical Article • Rev. adm. contemp. 28 (1) • 2024 • https://doi.org/10.1590/1982-7849rac2024230075.en copy

Golf as an Innovation in the Teaching of Finance: Report on a Pioneering Experience

Authorship SCIMAGO INSTITUTIONS RANKINGS

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’ self-assessment 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.

Keywords:
golf; teaching finance; sustainable finance

Distance to the hole	Handicap (HCP) and hitting percentage
Distance to the hole	0 HCP	5 HCP	10 HCP	15 HCP	20 HCP	25 HCP
18-24ft (5.5-7.3 m)	14.5%	13.0%	10.3%	11.2%	11.8%	10.1%
12-18ft (3.6-5.5 m)	25.1%	23.9%	20.2%	20.2%	18.8%	16.0%
6-12ft (1.8-3.6 m)	42.8%	41.4%	38.1%	39.6%	37.8%	35.0%

Order	Country	GDP per capita^†	# of fields
1	USA	70,219.4	16,156
2	Japan	39,827.1	3,140
3	United Kingdom	46,585.8	3,101
4	Canada	52,358.6	2,564
5	Australia	60,444.5	1,584
6	Germany	51,203.5	1,054
7	France	43,658.9	811
8	South Korea	34,997.7	810
9	Sweden	61,143.2	650
10	China	12,617.5	617
11	Spain	30,103.5	493
12	South Africa	7,055.0	477
13	New Zealand	49,996.4	416
14	Ireland	100,172.0	365
15	Netherlands	57,708.1	350
16	Argentina	10,636.1	348
17	Denmark	68,007.7	347
18	Thailand	7,060.8	317
19	Italy	35,770.0	312
20	India	2,238.1	298
*	Brazil	7,696.7	126

# of strokes made by the golfer in relation to the PAR	Specific term
- 3	Albatroz (double-eagle)
- 2	Eagle (ou double birdie)
- 1	Birdie
0	PAR
+ 1	Bogey
+ 2	Double bogey
+ 3	Triple bogey

Questions	Min	Max	Average	DP
Q12. I understand that the existence of rules is important in everyday life, and I always try to know and respect the rules.	4	5	4.90	0.310
Q7. I used the club’s materials (clubs, balls...) and facilities (hall, restaurant, toilets, golf course...) in a way that showed ‘respect for what doesn’t belong to me,’ and that was kindly provided for my use during the scheduled activities.	4	5	4.86	0.351
Q8. I didn’t leave any traces of my passage in the places I passed through, leaving no plastic cups on the floor, no untidy chairs, no thrown bats and balls, no pieces of grass torn up by the turf, and no other inopportune or unnecessary marks.	4	5	4.86	0.351
Q6. I was always ‘with my group,’ and I never drifted away, making it difficult to progress with the activities and control the work required in the classroom and the field.	2	5	4.79	0.620
Q10. Throughout the golf finance course, I took an explicit interest in knowing and following the rules of golf and their connections with the typical activities of a career in finance. I carefully read and followed the materials suggested and shared by the instructors with whom we had contact.	3	5	4.69	0.541
Q4. I was ‘punctual and assiduous’ at all events, always arriving a few minutes early.	2	5	4.59	0.780
Q5. I showed ‘respect for the people’ around me by ‘being discreet’ and maintaining an attitude that didn’t bother people, speaking in a tone of voice that suited the situation. I didn’t use cell phones at inappropriate times. I was always polite and courteous.	3	5	4.59	0.628
Q9. I greeted everyone when I arrived and when I left, I was always cordial and discreet.	1	5	4.55	0.985
Q11. After this immersion course, I will adopt a different behavior in the external environment.	1	5	3.93	1.280
Q3. I was dressed appropriately: polo shirt, twill trousers/shorts, sneakers with socks. I didn’t wear T-shirts, short shorts, flip-flops.	1	5	3.69	1.198

Dimension DISC		Mín.	Máx.	Average	DP
Dominance	Q13. For the sake of the end result, I accept being able to apply additional effort, even if it creates high tension in the team.	2	5	4.21	0.82
	Q14. I am motivated to try many new things and tend not to develop anything completely.	1	5	2.82	1.17
	Q15. I’m often told that I’m a bit of a ‘short fuse.’	1	5	2.18	1.00
	Q16. I tend to seek improvement quickly - I don’t procrastinate when making changes.	1	5	3.81	1.04
	Q17. I am willing to make changes - to try something different - always in search of a competitive advantage.	3	5	4.43	0.68
	Q18. I always agree to pay the price to achieve goals.	2	5	3.96	0.94
	Q19. I have a strong desire to succeed - I don’t accept being bullied.	2	5	4.26	0.74
Influence	Q20. I was dressed appropriately: polo shirt, twill trousers/shorts, sneakers with socks. No T-shirts, short shorts, or flip-flops.	1	5	3.64	1.32
	Q21. I always feel energized and alert, I always feel that ‘I can do it,’ my attitude is always optimistic.	3	5	4.50	0.63
	Q22. I often have the feeling that ‘today is the day everything is going to work out.’	1	5	3.89	0.98
	Q23. I tend to have a good imagination, I’m always willing to try a variety of different shots.	2	5	4.30	0.79
	Q24. I enjoy being with other players, I’m energized by the social aspects of golf.	2	5	4.39	0.98
	Q25. Can go further - I accept trying to go as far as I can, I take the risk of big falls when environmental conditions change.	2	5	3.93	1.00
	Q26. I tend to try a lot of risky shots just for the challenge and the creativity of trying them out.	2	5	3.96	0.94
	Q27. I often get distracted by being too involved in the social aspects of the game.	1	5	2.61	1.05
Steadiness	Q28. I tend not to get emotionally ‘too excited’ or ‘too discouraged.’	1	5	2.93	1.19
	Q29. I tend to be patient with trainers - I don’t expect miracles overnight - I have a consistent focus on the learning process.	2	5	4.64	0.72
	Q30. I am generally able to maintain an effective level of tension in my body - I don’t tense up, nor do I lose flexibility and rhythm in my shot.	1	5	3.43	1.02
	Q31. I tend to be indifferent on some days, I tend to be slow to assume a competitive attitude.	1	5	2.57	1.08
	Q32. I tend not to have a sense of urgency to improve and set ambitious targets for improvement.	1	5	2.33	1.07
	Q33. I often get emotionally and/or physically ‘lazy.’	1	4	2.43	1.02
Caution	Q34. I am able to understand the details of the swing/stroke posture and the cause and effect of swing changes.	3	5	4.43	0.62
	Q35. I try to do things correctly - I pay attention to what the instructors say.	4	5	4.89	0.31
	Q36. I tend to realistically weigh up the risks and rewards in terms of selecting batting options.	2	5	4.18	0.93
	Q37. I try to be properly prepared to play.	3	5	4.57	0.62
	Q38. I tend to exaggerate and want to know ‘how to build the clock’ when all I need to know is ‘what time it is.’	2	5	3.11	1.05
	Q39. I tend to be too much of a perfectionist for my own good.	1	5	3.70	0.99
	Q40. I’ll try to learn a lot about golf, and I’ll even be a bit confused by any information overload.	2	5	3.89	0.90
	Q41. I tend to worry too much about doing something ‘wrong,’ and sometimes this has already gotten in the way of improving the actual results.	1	5	3.54	1.21

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1^st round
2^nd round

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1^a rodada
2^a rodada

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