Finanţele comportamentale și efectele acestora asupra piețelor de capital în perioadele de criză
Behavioral finance and its effects on capital markets in times of crisis

Summary/Abstract: The paper presents the results of the analyze involving the concept of behavioral finance that can be found in certain areas of the economy and is enhanced by the crisis or another financial shock. Through psychological and economic approaches, I determined the causes that influence the profile of investors. It is used the concept of herd behavior which will be analyzed and interpreted by certain indices. Through these indices we looked at how the presence of this type of behavior influences and the high level of subjectivism on capital markets and how risky are decisions. Analyzing the returns of prices and stock indices between 2006-2010 and applying the CSSD method we obtained results proving that investors are not always careful and sometimes follow irrational strategies based on their own preferences or the behavior of other investors.

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