Doklady Bashkirskogo Universiteta. 2016. Volume 1. No. 3. pp. 567-572.
Authors
Zulkarnay I. U.*
Bashkir State University
32 Zaki Validi Street, 450076 Ufa, Russia
Galiaskarov F. M.
Bashkir State University
32 Zaki Validi Street, 450076 Ufa, Russia
Abstract
The article gives a short survey of the main directions of finance management in the enterprises and organizations, among which the authors focus on a direction based on the theory of bounded rationality in decision-making process of individuals. The article focuses on the topic that the methods of financial management are based on the concept of rational behavior of individuals, so-called an economic man or homo economicus whereas the real individuals are limited in their decision-making process that it is described by the theory of bounded rationality. There are examples of bounded rationality in individuals decision-making in financial markets that were experimentally proved. And in these cases the individuals didn’t follow rules that are recommended by finance management rules.
Keywords
financial management
enterprises
organizations
bounded rationality