Bireylerin Hisse Senedi Piyasasına Katılım Eğilimlerine Etki Eden Ekonomik Olmayan Faktörler Üzerine Ampirik Bir Araştırma

Bu çalışmanın amacı, Türkiye’deki tasarruf sahiplerinin hisse senedi piyasalarına olan doğrudan katılım düzeylerinin bir takım sosyal ve davranışsal faktör ile anlamlandırılmasıdır. Risksiz piyasalar ile hisse senedi piyasaları arasındaki katılım düzeyi farkının risk primi ile açıklanamaması ve hisse senedi piyasasına olan katılımın düşük düzeyde kalması finansal okuryazarlık, risk algısı, güven düzeyi, kısa ve uzun vadeli piyasaya dönük beklentiler gibi faktörler ile açıklamaya çalışılmıştır. Bu araştırma, Muğla Sıtkı Koçman Üniversitesi’nin İktisadi ve İdari Bilimler Fakültesi’nde eğitim alan 329 İşletme bölümü öğrencisine anket tekniği kullanılarak yapılmıştır. Lojistik regresyon ile analiz edilen veriler risk algısı, finansal okuryazarlık, finansal kurumlara olan güven seviyesi, kısa ve uzun vadeli beklentiler gibi sosyal değişkenlerin hisse senedi piyasalarına katılım tercihine etki ettiğini göstermiştir.

An Empirical Research on Non-Economic Factors That Effects Individuals Stock Market Participation Preferences

The purpose of this study, understanding the direct participation of depositors in Turkey to stock markets according to some social and behavioral factors. Because of unable to explain stock market and risk free assets market participation differences even with risk premium and low level of stock market participation led us to consider some social factors like financial literacy, risk perception, trust, short and long term market expectations. This study was conducted on 329 students Business Administration department at Faculty of Economics and Administrative Sciences of Muğla Sıtkı Koçman University by using survey technique. The data were analyzed by logistic regression showed that social factors like risk perception, financial literacy, trust to financial institutions, short and long term expectations affects the stock market participation preferences.

Keywords:

Stock Market Participation, Financial Literacy Trust, Expectations.,

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