Investigating the role of accounting and human resource management systems in household financial decision-making

Economic Annals-XXI: Volume 214, Issue (3-4), Pages: 22-26

Citation information
Usmanov, Ch., Jumanov, Sh., Elmurodov, Sh., Bekbergenov, G., Abduraimov, B., & Khudayberganov, Kh. (2025). Investigating the role of accounting and human resource management systems in household financial decision-making. Economic Annals-XXI, 214(3-4), 22-26. doi: https://doi.org/10.21003/ea.V214-04

Chorshanbi Usmanov
MA (Education),
Department of Economics,
Termez University of Economics and Service
41-B Farovon Massif Str., Termiz city, 190100, Uzbekistan
chorshanbi_usmanov@tues.uz
ORCID ID: https://orcid.org/0009-0001-1768-765X

Sherzod Jumanov
PhD (Education),
Samarkand State University of Architecture and Civil Engineering House
JWMR+6QH, Samarkand, 140147, Uzbekistan
jumanov.sherzod@samdaqu.edu.uz
ORCID ID: https://orcid.org/0009-0007-8977-0894

Shokhjakhon Elmurodov
PhD (Education),
Kimyo International University in Tashkent
156 Shota Rustaveli Str., Тashkent, 100121, Uzbekistan
shokhjahon.elmurodov@gmail.com
ORCID ID: https://orcid.org/0000-0002-0123-6408

Gayrat Bekbergenov
PhD (Education),
Department of Economics, Mamun University
989Q+6V, Bolkhovuz Str., Khiva, Khorezm, 220900, Uzbekistan
bekberganov_gayrat@mamunedu.uz
ORCID ID: https://orcid.org/0009-0001-7711-2444

Bunet Abduraimov
PhD (Economics),
Department of Digital Economy,
Samarkand State University named after Sharof Rashidov
15 University Bvd., Samarkand сity, Samarkand region, 140104, Uzbekistan
bunetabduraimov@gmail.com
ORCID ID: https://orcid.org/0009-0005-4834-1773

Khudaybergan Khudayberganov
PhD Student (Agriculture),
Urgench State University
4 Kh. Alimdjan Str., Urganch, Khorezm, 220100, Uzbekistan
xudaybergan.x@urdu.uz
ORCID ID: https://orcid.org/0009-0003-5484-5471

Investigating the role of accounting and human resource management systems in household financial decision-making

Abstract. The importance of household financial management is increasing day by day in today’s world. Today, the share of instruments available in financial markets in the household asset portfolio is increasing. However, household investments are affected by the limitations related to cognitive factors and emotions and behavioral biases. The most important dimension of cognitive factors affecting household investment is related to the issue of mental decision-making, which is modeled in this article through four variables of mental budgeting, current income, current assets and future income. Given the importance of the subject, the present study has examined the relationships between mental accounting, financial self-efficacy, financial attitude and financial behavior. The statistical population of the study was urban households in Uzbekistan and a sample size of 360 household heads was determined using the Cochran formula during 2024. This study is of an applied type in terms of purpose, descriptive-correlation in terms of method of conduct and survey-cross-sectional in terms of data collection method. The results of the study indicate that there is a positive and significant relationship between mental accounting and financial self-efficacy, as well as between mental accounting and financial attitude. In addition, the results of the study indicate a positive and significant relationship between financial attitude and financial decision-making in the household. Finally, to more accurately assess the economic situation of the household, it is essential that families analyze their financial transactions properly and, with appropriate planning, move towards improving and achieving financial goals. By using appropriate financial tools and legal advice, one can achieve greater efficiency in financial management and contribute to the economic security of the household.

Keywords: Mental Accounting; Household Financial Management; Household Financial Decision-Making; Financial Self-Efficacy; Financial Behavior Management

JEL Classifications: Е24; Е41; Е64; I18; J28; J31

Acknowledgements and Funding: The authors received no direct funding for this research.

Contribution: The authors contributed equally to this work.

Data Availability Statement: The dataset is available from the authors upon request.

DOI: https://doi.org/10.21003/ea.V214-04

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Received 26.01.2025
Received in revised form 18.02.2025
Accepted 29.02.2025
Available online 29.04.2025