"How do people make savings in inflationary times?" 'Parallel surveys in Hungary and Mongolia'

Uugantsetseg Mandakhnaran (2023) "How do people make savings in inflationary times?" 'Parallel surveys in Hungary and Mongolia'. Pénzügyi és Számviteli Kar.

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Absztrakt (kivonat)

Psychology-based behavioral finance theories have been investigated in variety of methods.There are, however, few studies on individuals’ saving behavior and decision-making in developing nations with high income economies like Hungary and lower middle-income economies like Mongolia. The main goal of this study is to determine whether there are any differences in saving behavior between Mongolians and Hungarians during a period of high inflation. To this end, a sample of 60 participants from each nation was randomly chosen for the study, which is not statistically representative. Before exploring the survey analysis, I introduced each country’s economic background to give a brief understanding of what and why compare these nationalities. Then, we examined the existing works of literature to acknowledge rational and irrational approaches in individuals’ decision making. With the parallel survey result, I analyzed how decision making and wealth management of individuals from lower middle income country differ from those who are from high income economy when they face high inflation.During my study, I learned how these two nationalities have different financial behavior on account of unlike economic indexes. By reason of its different net income level and near cost of living, saving amounts the most Hungarians do is much higher, 10-20% of their income while Mongolians save their 1-10% of net income. Also, Hungarians have longer period of experience for saving and investment with higher awareness of the economy.Moreover, I discovered that individuals become more active investors during high inflationary time because of unpredictable economy. As mentioned in study of Mao (1970), people choose the portfolio from the efficient set that best fits his/her preferences for their risk and return. Indeed, I noted ROI was the main factor for both Hungarians and Mongolians to do their decision-making. Due to high return, both nationalities play more role in risky investments and do various diversifications among their investment tools such as forex, real estate etc. However, considering the risk, they remain to have less risky saving strategies (bank saving) but, with less allocation and build up their amount of cash with reason of its liquidity.

Intézmény

Budapesti Gazdasági Egyetem

Kar

Pénzügyi és Számviteli Kar

Tanszék

Pénzügy Tanszék

Tudományterület/tudományág

NEM RÉSZLETEZETT

Szak

Pénzügy és Számvitel

Mű típusa:	diplomadolgozat (NEM RÉSZLETEZETT)
Kulcsszavak:	decision-making, finance, financial behavior, inflationary time, savings
SWORD Depositor:	Archive User
Felhasználói azonosító szám (ID):	Archive User
Rekord készítés dátuma:	2024. Jan. 24. 15:49
Utolsó módosítás:	2024. Jan. 24. 15:49

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