Introducere în finanţele comportamentale, Partea a doua (An Introduction to Behavioral Finance, Part 2)

56 Pages Posted: 28 May 2020

See all articles by Ramona Dumitriu

Ramona Dumitriu

University Dunarea De Jos Galati

Razvan Stefanescu

University Dunarea De Jos Galati

Date Written: April 30, 2020

Abstract

Romanian Abstract: Această lucrare abordează modalităţile prin care indivizii şi organizaţiile fac faţă variatelor riscuri asociate deciziilor financiare. Percepţiile şi atitudinile faţă de risc ale managerilor pot fi influenţate de complexitatea mediului financiar, dar şi de posibilitatea de a utiliza unele instrumente ce pot furniza reacţii eficace şi rapide la schimbările acestui mediu. În practică, managerii tratează riscurile din deciziile financiare în diferite moduri. Multe dintre acestea utilizează metode riguroase bazate pe distribuţii probabilistice, aşa cum recomandă unele modele importante ale finanţelor tradiţionale. Totuşi, după cum au relevat unele studii din domeniul abordărilor descriptive ale proceselor decizionale, sunt şi manageri, în special cei care nu au încredere în probabilităţi sau care nu le înţeleg, ce preferă metode mult mai rudimentare de a face faţă riscurilor. Comportamentul acestora poate fi o provocare pentru raţionalitatea deciziilor financiare.

English Abstract: This paper approaches the ways in which the individuals and organizations deal with various risks associated to the financial decisions. The managers’ perceptions and attitudes to the risks could be influenced by the complexity of the financial environment, but also by the possibility to use some instruments that could provide efficient and rapid reactions to the changes from this environment. In fact, the managers treat risks from the financial decisions in several ways. Many of them use rigorous methods based on the probability distributions as some important models of the traditional finance recommend. However, as some studies from the field of descriptive approaches to decision making revealed, there are also managers, especially those who don’t understand or don’t trust the probabilities, who prefer much more rudimentary ways to deal with risks. Their behaviors could be a challenge for the financial decisions rationality.

Note: Downloadable document is in Romanian.

Keywords: Behavioral Finance, Descriptive approaches to decision making, Risks from financial decisions.

JEL Classification: D81, D89, G10, G40

Suggested Citation

Dumitriu, Ramona and Stefanescu, Razvan, Introducere în finanţele comportamentale, Partea a doua (An Introduction to Behavioral Finance, Part 2) (April 30, 2020). Available at SSRN: https://ssrn.com/abstract=3589432 or http://dx.doi.org/10.2139/ssrn.3589432

Ramona Dumitriu (Contact Author)

University Dunarea De Jos Galati ( email )

Romania

Razvan Stefanescu

University Dunarea De Jos Galati ( email )

Str. Domnească, nr. 47
Galati, 800008
Romania

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