Bìznes Inform (Jun 2020)
The Behavioral Finance as an Efficient Basis for Reflecting the Rationality and Irrationality of Financial Decisions in the System of the State-Creative Patriotism of the Nation
Abstract
The article is aimed at deepening the foundations of behavioral finance on the basis of the efficiency of the rationality and irrationality of financial decisions and the doctrinal provisions of the nation’s State-creative patriotism. In the analysis and systematization of the scientific works of a number of scholars, the need to develop strategic capabilities of behavioral finances with a bias towards the purposeful implementation of the potential of the dominants (quality and quantitative) of the State-creative patriotism of the nation is allocated. The essential content of rationality and irrationality of financial decisions is outlined, in particular, the peculiarities of deviant behavior of the taxpayer are noted, which shifts the emphasis on the erosion of the constitutional basis of tax payment as a basis of financial stability of the State. It is determined that the low level of tax culture is manifested through irrational forms of individual behavior, which deviate from the norms established by the legislation. The factors (moral-ethical, socio-economic, organizational, political) contributing to the emergence of deviant behavior of taxpayers, thus limiting the effectiveness of the manifestation of the State-creative patriotism of the nation are allocated. It is substantiated that taxes are a quantitative measure of the actual State-creative patriotism of the nation and specify the real participation of taxpayers in the formation of the financial life support and development of the State. The strategiology of the development of behavioral finance is synthesized as a specific direction of knowledge in the system of financial science, which is functionally and architecturally determined by behavioral finances, with their inherent patterns, the importance of motivations and psychological (irrational) factors when choosing both a model of financial behavior and financial decision-making by individuals.
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