Iluzia deciziei raționale
Subtitle: aspecte inovative din prisma teoriei fractalilor, econofizicii, finanțelor comportamentale
Publisher: Casa Cărții de Știință din Cluj-Napoca
Published: 2015
Place of publication: Romania
Format: Paperback
Number of pages: 184
ISBN-13: 9786061708130
Table of contents: title: CONTENTS; title: Introduction; title: Motivation for this research; title: I. Financial policy coordinates - implications for managerial finance 1.1. Optimal allocation of resources in economic theory; title: 1.2. Company as a portfolio of projects; title: 1.3. Corporate financial policy – on the run; title: 1.3.1. Management of companie`s finances; title: 1.4. Impact of global economic crisis on companies' financial policy; title: II. Corporate funding decision; title: 2.1.  Coporate need for finance – current conext; title: 2.2. "Arbitration" of interests between managers and owners - elements of game theory; title: 2. 3. Behavioral finance sheds light on decision-making mechanism; title: 2.4. Premises for selection criteria in financial decision-making; title: III. Using behavioral finance and fractal theory to approaching financial risk; title: 3.1. Risk and reward in financial theory; title: 3.1.1. Expected utility theory – current persepctives; title: 3.1.2. Redefining "expected utility" in the context of benavioral finance; title: 3.1.3. A brief summary of theories regarding financial market risk; title: 3.2.  Risk factors to financing decision; title: 3.2.1. Institutional framework: legal environment, political stability, tax burden, market segmentation, integration and macroeconomy factors; title: 3.2.2. Internal and external factors of the firm`s environment; title: 3.2.2.1. Risk sensitivity; title: 3.2.3. Risk factors at agent-level decision; title: 3.2.3.1. Risk measurement and its correlation to equity; title: 3.2.3.2. Determinants of the risk premium; title: 3.3. Approaches to risk taking in financial decision-making; title: 3.3.1. The utility of fractal theory in quantifing financial risk involved in decision-making; title: IV. A personal approach to project - funding decision using elements of fractal theory, econophysics and agent-based modeling assumptions; title: 4.1. Decision analysis model for financing projects; title: 4.1.1. Objectives and Methodology; title: 4.1.2. Premises of decision model; title: 4.1.3. Indicators used in the diagnosis of risk and reward in the decision model; title: 4.2. Model tested on various sources of project funding; title: 4.2.1. Defining funding decision at enterprise level; title: 4.2.2. Utility of the decision model; title: V. Empirical study on financial decision on the capital market - elements of behavioral finance; title: 5.1. Premises of econometric model; title: 5.2. Description of databases used; title: 5.3. Objective of empirical study; title: 5.4. Econometric model estimation; title: 5.5. Empirical results of the model; title: 5.5.1. Empirical analysis of the relationship between the yields of selected actions compared to the capital market; title: 5.5.2. Performance evaluation of stocks according to the alpha and beta coefficients; title: 5.5.3. Performance analysis of stocks due to the cost of equity; title: VI. Conclusions and perspectives of research; title: 6.1. Conclusions regarding sources of risk in the financing decision; title: 6.2. Conclusions of decision model financing enterprises; title: 6.3. Conclusions of empirical study on financing decision of companies on the stock market; title: 6.4. Prospects for future research; title: References