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Bu araştırmanın amacı, bireysel yatırım kararları ile davranışsal finans eğilimleri arasındaki ilişkileri incelemektir. Araştırma örneklemi 175 kişi olup, İstanbul, Kocaeli, Zonguldak illerindeki İmalat ve Hizmet sektörlerine ait firma çalışanlarıdır. Araştırmada kullanılan soru formu katılımcıların demografik özellikleriyle “Katılımcının Yatırım Kararları” ölçeğinden oluşmuştur. Söz konusu ölçekteki davranışsal eğilimler faktör analizi sonucunda, tutuculuk, temsiliyet, çapalama, sürü davranışı, geri görüş, kendine atfetme, kayıptan kaçınma ve zihinsel muhasebe, aşırı güven, aşırı iyimserlik, aşina olma, çerçeveleme, kontrol yanılsaması adı verilen alt boyutlar ortaya çıkmıştır. Çalışmamızda Anova, Ki-kare, T-testi analizlerinden yararlanılmıştır. Yapılan analizler sonucunda, davranışsal finans eğilim düzey/leri ile hisse senedi, vadeli mevduat ve yatırım fonu tercihleri arasında anlamlı ilişki olduğu tespit edilmiştir. Ayrıca tutuculuk ve temsiliyet eğilimleri ile hisse senedi tercihleri; çapalama ve kendine atfetme eğilimleri ile yatırım fonu tercihleri; kontrol yanılsaması ile hazine bonosu tercihleri arasında anlamlı ilişki elde edilmiştir. Demografik özellikler açısından ise cinsiyet ile sürü davranışı, aşırı iyimserlik ve aşina olma eğilimleri; medeni durum ile sürü davranışı ve kendine atfetme eğilimleri; yaş grupları ile tutuculuk, kendine atfetme, aşırı güven ve aşırı iyimserlik; eğitim düzeyi ile kendine atfetme, kayıptan kaçınma ve zihinsel muhasebe eğilimleri; gelir düzeyi ile tutuculuk, çapalama, sürü davranışı, kendine atfetme, kayıptan kaçınma ve zihinsel muhasebe eğilimleri arasında anlamlı farklılıklar olduğu saptanmıştır.
The aim of this research is to study the relationship between individual investment decisions and behavioral financial trends. The research sample is 175 people, and the company employees belong to the manufacturing and service sectors in the provinces of Istanbul, Kocaeli, Zonguldak. The question form used in the study consisted of the "Investment Decisions of the Participant" scale with the demographic characteristics of the participants. As a result of the analysis of the factors of behavioral trends on the scale, the subdimensions called attitude, representation, intersection, multitude behavior, feedback, self-release, avoidance of losses and mental accounting, excessive confidence, excessive optimism, familiarity, frameworking, control misconduct have emerged. In our study, anova, ki-core, T-test analyses have been used. The results of the analysis have found that there is a meaningful relationship between the behavioral financial trend levels and the stock, the deadline deposits and the investment fund preferences. There has also been a meaningful relationship between holding and representation trends and share preferences; discharge and self-release trends and investment fund preferences; control misconduct and treasury bond preferences. In terms of demographic characteristics, many behaviors and gender, excessive optimism and tendencies to be familiar; many behaviors and tendencies to attribute to civic state; age groups and attitude, self-attitude, excessive confidence and excessive optimism; self-attitude and educational level, avoidance of losses and mental accounting tendencies; income level and attitude, scattering, multi-behavior, self-attitude, avoidance of losses and mental accounting tendencies have significant differences.
The purpose of this study is to examine the relationships between individual investment decisions and behavioural finance trends. The sample of the study consists of 175 people and they are company employees belonging to the Manufacturing and Service sectors in Istanbul, Kocaeli and Zonguldak provinces. “Investment Decisions Scale of the Participant” was used as a data collection tool, and as a result of factor analysis, the name of belief perseverance, representativeness, anchoring, herd behaviour, hindsight, self-attribution, loss aversion and mental accounting, overconfidence, optimism, familiarity, framing, illusion of control sub-dimensions are formed. Anova, Chi-square and T-test methods were used in the study. As a result of the analyses, it was determined that there was a significant relationship between general behavioral finance trend levels and stock, time deposit and investment fund preferences. In addition, belief perseverance and representativeness trends and stock preferences; the anchoring and self-attribution and investment fund preferences; a relationship was found between the illusion of control and treasury shares preferences. In terms of demographic characteristics, herd behavior with sex, optimism and familiarity; marital status and herd behavior and self-attribution; belief perseverance, self-attribution, overconfidence and optimism with age groups; education level, self-attribution, loss aversion and mental accounting trends; It was found that there are significant differences between income level and belief perseverance, anchoring, herd behavior, self-attribution, loss aversion and mental accounting biases.
Field : Sosyal, Beşeri ve İdari Bilimler
Journal Type : Uluslararası
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