Determinantes das finanças comportamentais: um estudo de caso no município de Caibaté/RS

Abstract

Currently, researchers in financial area cite several factors, that can be rationals, irrationals, or even make a direct influence on the financial decisions of individuals. From the perspective of behavioral finance, this study has the objective to identify and evaluate the factors that may have influence on the behavior of the population of the city of Caibaté, RS, to save money or take cash loans on financial institutions, on the year of 2013. Was measured the population’s socioeconomic profile, and the mean factors that generate propensity for save money or take cash loans on each person. Their knowledge about financial education and their capacity to take financial decisions was others considered factors. For that, was made a research that identified the bibliographic references about The Behavioral Finance Theory; this theory studies the psychological effects on the behavior of the economics agents, as the sub sequential effect on the financial market. A descriptive and bibliographical survey on the subject was developed, including a case study conducted in the city. A population more likely to save was identified and, among the determinant factors on the Behavioral Finances, stands out the following as big influences on the population, both for save money as for be in debt: the financial education level, cognitive dissonance, their jobs, the culture, the income, the personal values, and the demographic variables. The income factor showed significant relevance for the portion of savers, and regret was identified as a determinant of preference for saving account as more recurred investment. In particular to the borrowers, we highlight the overconfidence. In this study, the results corroborate The Behavioral Finance Theory on several aspects, for example, on the distinct behavior of the individuals in certain situations of the financial market, directly influenced by the determinant factors of this theory.