ПОВЕДІНКОВІ АСПЕКТИ УПРАВЛІННЯ ФІНАНСОВИМИ РИЗИКАМИ В УМОВАХ ГЛОБАЛЬНОЇ НЕСТАБІЛЬНОСТІ, BEHAVIORAL ASPECTS OF FINANCIAL RISK MANAGEMENT IN CONDITIONS OF GLOBAL INSTABILITY

<jats:p>The article substantiates the relevance of integrating behavioral finance into financial risk management under global instability. Modern financial decisions are made in an environment where geopolitical shocks, inflationary pressure, exchange-rate uncertainty, higher cost of capital, fiscal imbalances and digital information overload interact with bounded rationality of decision makers. The paper interprets behavioral financial risk as the probability of direct losses, opportunity losses or excessive risk exposure caused by systematic deviations of managers, investors, creditors or public finance actors from economically justified decisions under uncertainty. Particular attention is paid to the influence of loss aversion, overconfidence, anchoring, confirmation bias, availability heuristic, herd behavior, status quo bias and short-termism on credit, market, liquidity, operational and strategic financial risks. The article summarizes Ukrainian scientific contributions to behavioral finance and financial risk management and identifies a methodological gap: behavioral distortions are usually discussed as psychological phenomena, whereas their practical integration into risk identification, measurement, limits, scenario planning and monitoring remains insufficient. A behavioral-adaptive risk management contour is proposed. It includes external shock identification, risk classification, behavioral diagnostics, scenario and stress testing, independent challenge of assumptions, decision checklists, risk limits, monitoring of early warning indicators and organizational learning. The study argues that behavioral tools should not replace quantitative models; rather, they should improve the quality of assumptions, reduce model misuse, strengthen accountability and support timely responses to financial shocks. The practical value of the proposed approach lies in the possibility of applying it in banks, enterprises and public finance institutions that operate in conditions of persistent uncertainty and need to preserve financial resilience without excessive conservatism or speculative risk taking.</jats:p>