scholarly journals BEHAVIOURAL FINANCE: THEORY AND SURVEY / FINANSINĖ ELGSENA: TEORIJA IR TYRIMAS

2013 ◽  
Vol 5 (1) ◽  
pp. 53-58 ◽  
Author(s):  
Daiva Jurevičienė ◽  
Olga Ivanova
Keyword(s):  
Decision Making ◽  
Survey Method ◽  
Decision Making Process ◽  
Behavioural Finance ◽  
Financial Decisions ◽  
Household Decision ◽  
Financial Behaviour ◽  
Basic Features ◽  
Finance Theory ◽  
Behavioural Theories

Abstract The paper analyses the importance of behavioural finance theories in household decision-making process. Behavioural finance theories investigate emotional characteristics to explain subjective factors and irrational anomalies in financial markets. In this regard, behavioural theories and behavioural anomalies in the decision-making process are examined; the application opportunities in the financial market are described. The aim of investigation is to determine the basic features and slopes of behavioural finance in concordance with financial decisions of a household. The survey method was applied to ascertain financial behaviour of literate households. Santrauka Straipsnyje nagrinėjama finansinės gyventojų elgsenos teorijų svarba priimant namų ūkių finansinius sprendimus. Finansinės gyventojų elgsenos teorijos tyrinėja rinkos dalyvių emocines charakteristikas, siekiant paaiškinti subjektyvias iracionalias anomalijas finansų rinkose. Straipsnyje išnagrinėtos gyventojų elgsenos teorijos, suklasifikuoti pagrindiniai elgsenos nukrypimai, priimant finansinius sprendimus, ir aprašytos jų pritaikymo finansų rinkoje galimybės. Tyrimo tikslas – nustatyti pagrindinius finansinės elgsenos bruožus ir polinkius sąsajoje su namų ūkių finansiniais sprendimais. Siekiant nustatyti namų ūkių finansinę elgseną buvo atlikta finansiškai išprususių individų apklausa. Straipsnis anglų kalba.

Volatility Forecast Incorporating Investors’ Sentiment and its Application in Options Trading Strategies: A Behavioural Finance Approach at Nifty 50 Index

2020 ◽  
Vol 24 (2) ◽  
pp. 217-227
Author(s):  
Kelvin Mutum
Keyword(s):  
Decision Making ◽  
Investor Sentiment ◽  
Trading Strategies ◽  
Percentage Error ◽  
Forecasting Model ◽  
Decision Making Process ◽  
Options Market ◽  
Volatility Forecasting ◽  
Behavioural Finance ◽  
Options Trading

The present study was to examine whether the performance of options trading strategies can be improved if volatility forecasting incorporating investors’ sentiment was incorporated in the decision-making process at the Indian options market. The study adopted the multiple-factor model to build the Indian volatility forecasting model. The benchmark forecasting model (BMF) includes absolute daily returns (|RA|), daily high–low range (HLR) and daily realized volatility (RV). The proxies of investors’ sentiment considered in the study were India volatility index (IVIX), advance decline ratio (ADR), put-call open interest (PCOI) and their changes. The results of the causality and regression test indicate that investors’ sentiment and their changes should be included in the forecasting model. Mean absolute percentage error (MAPE) indicates that 15-day holding period shows the minimum error. Straddle strategies were simulated 15 days ahead before the options maturity date base on the direction of the forecast for different volatility forecasting models. The simulation result shows that the options trading performance might be improved if volatility forecasting incorporating investor sentiment, particularly IVIX, was incorporated in the decision-making process at the Indian options market. From the behavioural finance point of view, the study bridges the gap between options trading, volatility forecasting and information content of investors’ sentiment at the Indian financial market.

scholarly journals Behavioural factors in the financial decisions of young Mozambicans

2015 ◽  
Vol 46 (4) ◽  
pp. 11-22 ◽  
Author(s):  
J. H. Mota ◽  
A. C. Moreira ◽  
A. J. Cossa
Keyword(s):  
Expected Utility ◽  
Risk Taking ◽  
Standard Theory ◽  
Risk Averse ◽  
Rational Thinking ◽  
Behavioural Finance ◽  
Financial Decisions ◽  
The Future ◽  
Behavioural Factors ◽  
Finance Theory

This paper seeks to analyse how behavioural factors influence the financial decisions of young Mozambican investors. The standard theory of finance assumes investors make rational financial decisions, seeking to minimise risk and maximise their expected utility. However, several studies have been conducted criticizing the assumption that investors are rational, opening the way to behavioural finance theory. According to the behavioural finance approach, financial decisions made by individuals are not based on rational thinking and their risk taking behaviour depends on their beliefs or feelings. Our analysis reveals that young Mozambicans are risk averse towards certain gains and risk lovers when faced with certain losses; they are excessively optimistic about the future; they use the information available as an anchor for their estimates; and they are so overconfident that they believe estimates in uncertain situations to be more accurate than they really are.

scholarly journals STUDY OF WORKING – WOMEN EMPOWERMENT IN SOUTH ASIA: CASE OF PAKISTAN

2021 ◽  
Vol 1 (2) ◽  
Author(s):  
Farah Naseer, Yasmin Syed, Safia Habib,
Keyword(s):  
Decision Making ◽  
Economic Status ◽  
Personal Income ◽  
Decision Making Process ◽  
Chi Square ◽  
Household Decision ◽  
Supportive Role ◽  
Basic Scale ◽  
Set Up ◽  
Chi Square Analysis

Women are the integral part of all societies no society can progress without the active participation of women. The involvement of women in decision making process is very important in every field of life. Like many other developing countries Pakistan has also patriarchal social set up where women take decisions under the dominance of their father, husband. Objective of the study was find out the factors influencing the decision-making power of women in family matters’ sample of 120 married universities teachers was selected from the three selected universities of Quetta city. Chi square analysis is used to see the influence of age and personal income on women decision making power. The result reveals that there is significant association between different basic scale and right to take decision as a wife(p<0.020) or as a mother (p<0.026), Married university teachers believe in husband seniority in age (r =0.111; p<0.002) with their decision-making power. Furthermore, they achieve socio economic status (p=<0.049) due to their personal income and their income play supportive role (p =<0.014) in decision making process. 75% respondents free to spend their income on household expenditure(p=<0.026) but have less authority over property related decisions. Overall women education, age, occupation and income has a significant effect on household decision making.

scholarly journals Behavioral Biases as An Effective Factor for the Firm Financial Decision-Making: A Literature Review

2016 ◽  
Vol 10 (2) ◽  
pp. 2103-2115
Author(s):  
Bilgehan TEKIN
Keyword(s):  
Decision Making ◽  
Behavioral Finance ◽  
Point Of View ◽  
Decision Making Process ◽  
International Studies ◽  
Negative Effects ◽  
Financial Decisions ◽  
Behavioral Biases ◽  
Effective Decision Making ◽  
The Impact

Decision-making process is a multi-faceted and complex process. Decision making can be defined like a process of choosing from among a number of alternatives. It will not contribute enough to be fully understood and to effective decision making to be addressed only from the rational point of view. Behavioral finance is an integral part of the decision-making process. Individuals can improve their performance by recognizing the biases which discussed in the framework of behavioral finance. Understanding the possible negative effects of biases allows to the individuals to make better choices and they can avoid repeating the expensive errors in future. Result of investigations of behavioral biases on decision-makers in the firms, managerial bias issue has been raised. The studies show the effect of managerial biases on many financial decisions in firms. This paper investigated the role of biases such as overconfidence, loss aversion, optimism, anchoring, narrow framing, self-serving attribution, disposition effect etc. on financial decisions such as investing, financing, equity market, capital structure etc. This study review of 30 international studies related with behavioral corporate finance and behavioral biases that affect financial decisions in firms. The studies were gleaned from Web of Science and Google Scholar. The main contribution of this study to the literature is this study brings out the impact of behavioral biases on financial decisions in the firms by summarizing the previous studies. In this sense, this work also has an assembly quality. Therefore, this is also intended with this study that to transfer the knowledge and intellectual formation about the impact of behavioral bias on the financial decisions. In this paper, most important behavioral biases in the behavioral finance literature will be addressed.

scholarly journals IDENTIFIKASI FAKTOR -FAKTOR YANG MEMPENGARUHI PENGAMBILAN KEPUTUSAN DALAM PENGADOPSIAN PAKET TEKNOLOGI BUDIDAYA UDANG DI TANAH LAUT KALIMANTAN SELATAN

2008 ◽  
Vol 3 (2) ◽  
pp. 213
Author(s):  
Achmad Azizi ◽  
Hikmah Hikmah
Keyword(s):  
Decision Making ◽  
Formal Education ◽  
Secondary Data ◽  
Primary Data ◽  
Survey Method ◽  
Decision Making Process ◽  
Shrimp Culture ◽  
Internal Characteristic ◽  
Capital Access ◽  
Culture Technology

Riset ini bertujuan untuk mempelajari faktor-faktor yang mempengaruhi pengambilan keputusan dalam pengadopsian paket teknologi budidaya udang telah dilakukan pada tahun 2006 di kabupaten Tanah Laut, lokasi riset adalah Kabupaten Tanah Laut Propinsi Kalimantan Selatan. Riset Ini menggunakan metoda survey. Data yang dikumpulkan dalam riset ini adalah data primer dan data sekunder. Data primer diperoleh melalui wawancara menggunakan kuesioner terstruktur kepada responden, Jumlah responden dalam riset ini adalah 30 orang. Disamping itu dalam riset ini untuk mengali informasi melibatkan pembudidaya udang, tokoh masyarakat, kelembagaan terkait dan Dinas Perikanan setempat serta observasi lapangan. Hasil Riset menunjukkan bahwa faktor faktor yang mempangaruhi pengambilan keputusan secara diskriptif adalah 66,66 % keputusan diambil secara individu. Akan tetapi apabila dilihat dari karakteristik internal hasil analisis statistk, koefisien korelasi (rs) faktor faktor yang mempengaruhi pengambilan keputusan dalam pengadopsian paket teknologi budidaya udang adalah umur ( 0,820**), pendidikan formal (0,529), tingkat pendapatan (0,821**), kekosmopolitan (0,785**), pengalaman berusaha (0,660**), pola nafkah (0,744**)dan tingkat kepercayaan (0,486*). Kemudian apabila dilihat dari faktor eksternal, faktor yang mempengaruhi adalah keuntungan (0,789**), mudah untuk diusahakan (0,493*), referensi group (0,724**), akses modal (0,747**) dan ketersediaan informasi. (0,818**). Hal ini memperlihatkan bahwa faktor tersebur mempunyai hubungan yang erat pengambilan keputusan. Tittle: Indentification of Factor Enfluencing to Decision Making Process in the Adoption of Shrimp Culture Technological Package in the Tanah Laut, Kalimantan SelatanThis research aimed to study factors enfluencing decision making process in adopting technological package of shrimp culture in 2006. The research was done in Tanah Laut, the district in South Kalimantan. The research used survey method, Primary and secondary data were used in this study. Primary data were collected by interview using structured questionaire to 30 respondents, consisting of shrimp farmer, informal social leader and related institution. Result of the study showed that factors that influence decision making were taken individually (66,66%). Moreover, it can be seen from internal characteristic of coefficient corelation statistic by which, factors that influence decision making in shrimp culture technology package adopting were age (0,820**), formal education (0,529), income level (0,821**), cosmopolitan (0,785**), capital access (0,747**) and information availibility (0,818**). It showed that those factors have a tight relationship with decision making usiness.

scholarly journals Management Capacity of Educational Office in The Provision of Basic Education Services (Studi in Banyumas Regency)

2020 ◽  
Vol 86 ◽  
pp. 01043
Author(s):  
M Faozanudin ◽  
LS Sulistiani
Keyword(s):  
Decision Making ◽  
Primary Schools ◽  
Basic Education ◽  
Survey Method ◽  
Management Decision ◽  
Decision Making Process ◽  
Education Services ◽  
Management Capacity ◽  
Index Value ◽  
Heads Of State

This paper aims to analyse the local government management capacity in the implementation of education services in Banyumas Regency. The research is based on the perception of the principal against the management process undertaken by the education service District Banyumas, which is carried out by the survey method, with the respondents of the heads of State Primary Schools in the Banyumas Regency. The results of the study indicate that in general the implementation of basic education management at the education office is already underway, and still needs a lot of improvement. Perspective index value The principal of the Office of Education is only 66.96. Some of the problems that need to be improved include: first, there is still a lack of coordination in the process of preparing programs and activities in the education office, which concerns education services in education units. Second, the management decision-making process tends to be slow in the education office, although in some cases, the decision-making process has involved subordinates and stakeholders. Third, there is still a less of transparency in the budgeting process carried out by the education office, especially for the budget allocated for education units, and the fourth, the procedures for the procurement and maintenance of educational facilities and infrastructure are also still less transparent.

scholarly journals Employees’ Participation in Decision Making and Employees’ Productivity

2020 ◽  
pp. 63-76
Author(s):  
Hyginus Emeka Nwosu ◽  
Merit Okoh ◽  
Amadi Goodluck
Keyword(s):  
Decision Making ◽  
Linear Regression ◽  
Positive Relationship ◽  
Mission Statement ◽  
Descriptive Statistics ◽  
Survey Method ◽  
Decision Making Process ◽  
Simple Linear Regression ◽  
Significant Positive Relationship ◽  
Participation In Decision Making

This study on employees’ participation on decision making and employees’ productivity was elicited to determine the extent to which employee participation in developing the mission statement, employee participate in policies and procedure formulation, and employees’ participation in the bonus/benefit determination enhance employees’ productivity. A total of 3901 populations were studied and 363 sample sizes was used to determine the effect of employees’ participation in decision making on employees’ productivity in Ebonyi state. The survey method was adopted; questionnaires and interviews were used for data collection. Descriptive statistics and Simple linear regression model was used. The findings show that there is a significant positive relationship between employees’ participation in decision making and employees’ productivity. The study, therefore, recommends among others that the management of the institutions especially academic institutions should continue to allow employees to participate in the decision-making process for increasing productivity.

Differences in Behavioral Biases in Investment Decision Making: Gender and Occupation Perspective

2015 ◽  
Vol 16 (1) ◽  
pp. 13-35
Author(s):  
Shailesh Rastogi
Keyword(s):  
Decision Making ◽  
Behavioral Finance ◽  
Investment Decision ◽  
Decision Making Process ◽  
Buying Behavior ◽  
Behavioral Biases ◽  
The People ◽  
Investment Decision Making ◽  
Behavioral Aspects ◽  
Finance Theory

Investments and Investment decision making come a long way in last few decades. The practical deviation from the established norms of conventional finance made the people know that the investors??buying behavior cannot be understood only by conventional finance theories. Studies strongly support the presence of behavioral aspects in the investment decision making process and behavioral finance provides solution to many-a-problems hitherto not answered appropriately by the conventional finance theory. Moreover, it was also propounded that the behavioral biases vary across gender and occupation of the investors. This study provides evidences for the existence of biases and also provides with the evidences that behavioral biases are not affected by the combined categories of gender and occupation.

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