WSEAS Transactions on Business and Economics | 2026
Authors: Osmani J.; Ndregjoni A.
DOI: 10.37394/23207.2026.23.28
Journal: WSEAS Transactions on Business and Economics
Year: 2026
Publisher: World Scientific and Engineering Academy and Society
Document Type: Article
Open Access: All Open Access; Gold Open Access
Cited by: 0
Although research on regret is extensive and growing, and there is broad agreement on its impact on decision-making and organizational performance, the factors that influence this emotion remain unclear. Based on the upper echelons perspective, this study investigates the role of age, gender, tenure, and career horizons on the experience of regret, focusing on C-level executives. We argue that strategic decisions possess characteristics that make them particularly prone to generating regret. Adopting a quantitative approach and applying different statistical techniques according to the nature of the variables, we investigate how CEOs, COOs, and CFOs perceive and experience regret. In total, 327 questionnaires were distributed within the financial sector, of which 254 were completed and returned. The findings show that there are no differences among top managers in the level of regret due to demographic characteristics. Despite these results, this study sheds light on important aspects and issues of regret and represents a starting point for further in-depth investigations regarding the experience of this emotion. This would help narrow the existing gap in the literature by enriching knowledge on regret, the experience of emotions, and their role in strategic management. Referring to practice, the findings indicate that decision-making support and emotion management programs should be developed according to the needs of top managers and not based on their demographic characteristics. Furthermore, this study emphasizes the importance of neutrality within organizations to counteract stereotypes. Finally, we contribute by highlighting the need for comprehensive theoretical models that investigate regret in a broader psychological and organizational context. © 2026, World Scientific and Engineering Academy and Society. All rights reserved.
demographic characteristics; emotions; organizational performance; regret; strategic decision-making; top managers