Vyhodnocení investičního chování na základě dotazníkového šetření

Abstract

The traditional view of finance assumes that individuals are rational and try to optimize their expected return relative to risk in an efficient market environment. However, since the 1980s, there has been a competitive approach that emphasizes psychological factors. This approach, called behavioral economics, considers individuals as irrational subjects influenced by emotions, feelings, and behavioral biases. Behavioral finance is part of this approach and focuses on financial theory and investors. The aim of this thesis is to verify the existence of behavioral biases in the context of a selected banking institution and to examine differences between different categories of employees. The results of this work should help to better understand these biases and their impact on human thinking in the work environment of a banking institution. The thesis is divided into five chapters and includes an analysis of behavioral biases, a description of the methodological approach for the practical part of the work, a questionnaire survey, and statistical testing of the responses. In the practical part of the work, a questionnaire was used, and the responses obtained from 109 respondents were subsequently analyzed using Fisher's exact test and the chi-square test of independence. The results showed that employees of the selected banking institution exhibited the greatest tendency towards the representativeness heuristic. A total of 11 statistically significant dependencies were demonstrated, most of which confirmed the results of studies cited in the work. The thesis offers suggestions for further analysis of behavioral biases, including testing individual departments and examining employees' awareness of these biases.