BEHAVIORAL FINANCE MANAGEMENT A CHALLENGE IN CRISIS
BEHAVIORAL FINANCE MANAGEMENT A CHALLENGE IN CRISIS

Summary/Abstract: The periods of crisis reveal that regardless of the strength of a bank on the market, the present problems of a bank next door might easily become the problems of your bank tomorrow. This can occur not only because your portofolio can be similar to the other bank, but also because the behavior of your clients is influenced by the behavior of the clients of the bank next door. The behavioral finance management becomes important not only for the growth, but for the health of a bank. This study reviews the literature referring to behavioral finance management, looking for similarities or differences between regions, in a chronological manner, using also a geographical approach. The findings of the research underline that the behavior of the clients in a crisis is influenced by their culture and the moment in which the crisis affects them. As a result, this study raises a broader question: Does the Romanian financial market have a specific behavior that can guide banks to better management of their business? Do the Romanians act different in crisis compared to other peoples? To determine the factors that influence the Romanian financial behavior is a challenge for future research.

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