MENKUL KIYMET YATIRIMLARINA YÖN VEREN FAKTÖRLERİN ÖNEM DÜZEYİNE GÖRE TESPİTİ: ÖĞRENCİ GÖZÜYLE BİR BAKIŞ

Bu çalışmanın temel amacı, finans alanında eğitim almış lisans son sınıf öğrencilerinin, hangi kriterleri esas alarak ve hangi kriterlere öncelik vererek menkul kıymet yatırımlarını yönlendirme düşüncesinde olduklarını tespit etmektir. Belirlenen amaç doğrultusunda ikili kıyaslama yöntemiyle hazırlanan anket yoluyla toplanan veriler, çok değişkenli karar verme modellerinden biri olan Analitik Hiyerarşi Prosesi (AHP) yöntemi kullanılarak analize tabi tutulmuştur. Analiz sonucunda yatırım kararlarında etkili olan kriterler sırasıyla borsanın özelliği, ülke şartları, menkul kıymetin özelliği, aracı kuruluşların özelliği ve global şartlar olarak belirlenmiştir. 

___

  • ADA, S. S., BOLAK, M., & SÜER, Ö. (2013). “Politik Seçimler, Referandumlar Ve Hisse
  • Senedi Getirileri: İMKB Örneği”, Finans Politik & Ekonomik Yorumlar, 50 (579),
  • -40.
  • ADJASİ, C.K.D. (2009). “Macroeconomic Uncertainty and Conditional Stock-Price
  • Volatility in Frontier African Markets: Evidence From Ghana”, The Journal Of Risk
  • Finance, 10(4), 333-349.
  • AKSOY, A., & TANRIÖVEN, C. (2007). “Sermaye Piyasası Yatırım Araçları Ve Analizi”,
  • Ankara: Gazi Kitabevi.
  • ALBAYRAK, E., & ERENSAL, Y. C. (2004). “Using analytic hierarchy process (AHP) to
  • improve human performance: An application of multiple criteria decision making
  • problem”, Journal of Intelligent Manufacturing, 15(4), 491-503.
  • ALON, I., & HERBERT, T.T. A. (2009). “Stranger in A Strange Land: Micro Political Risk
  • and The Multinational Firm”, Business Horizons, 52(2), 127-137.
  • ANNETT, A. (2001). “Social Fractionalization, Political Instability, and The Size Of The
  • Government”, Imf Staff Papers, 48 (3/4), 564-565.
  • ATHANASSIOU, E., KOLLİAS, C., & SYRIOPOULOS, T. (2006). “Dynamic Volatility And
  • External Security Related Shocks: The Case Of The Athens Stock Exchange”, Journal
  • Of International Financial Markets, Institutions And Money, 16(5), 411-424.
  • AYDEMİR, O. DEMİRTAŞ, G., & DEMİRHAN, B. (2009). “Hisse Senedi Piyasasının
  • Gelişiminde Makro Ekonomik Değişkenlerin Rolü: Panel Veri Analizi”, 13.Ulusal
  • Finans Sempozyumunda Sunulmuş Bildiri.
  • AYDIN, N. BAŞAR, M., & COŞKUN, M. (2010). Finansal Yönetim. Ankara: Detay
  • Yayıncılık.
  • BELTRÁN, P., CHAPARRO-González, F., PASTOR-Ferrando, J. P., & Pla-Rubio, A.
  • (2014). “An AHP (Analytic Hierarchy Process)/ANP (Analytic Network Process)-
  • based multi-criteria decision approach for the selection of solar-thermal power
  • plant investment projects”, Energy, 66, 222-238.
  • BOZKURT, İ., & KAYA, M.V. (2015). “The Effect of Global Political Events in the Arab
  • Spring on Stock Returns: The Case of Turkey”, Çankırı Karatekin Üniversitesi
  • İktisadi ve İdari Bilimler Fakültesi Dergisi, 5(1), 373-388.
  • CAMPBELL, J. Y., HILSCHER, J., & SZILAGYI, J. (2008). “In Search Of Distress Risk”,
  • The Journal Of Finance, 63 (6), 2899-2939.
  • DAGDEVİREN, M., & YUKSEL, İ. (2008). “Developing a fuzzy analytic hierarchy
  • process (AHP) model for behavior-based safety management”, Information Science,
  • ,1717-1733.
  • DAGDEVİREN, M., & EREN, T. (2001). “Analytical Hierarchy Process and use of 0-1
  • Goal Programming Processes in Selecting a Supplier Firm”, Journal of Faculty of
  • Engineering Architecture of Gazi University, 16(2), 41-52.
  • DAĞDEVİREN, M. (2008). “Decision making in equipment selection: an integrated
  • approach with AHP and PROMETHEE”, Journal of Intelligent Manufacturing,19(4),
  • -406.
  • DICHEV, I. D. (1998). “Is The Risk Of Bankruptcy A Systematic Risk?, The Journal Of
  • Finance, 53 (3), 1131-1147.
  • ERB, C., HARVEY, C., & VİSKANTA, T. (1996). P”olitical Risk, Economic Risk, And
  • Financial Risk”, Financial Analysts Journal, 52(6), 28-46.
  • ERCAN, M.K., & BAN, Ü. (2005). Finansal Yönetim. Ankara:Gazi Kitabevi.
  • FLANNERY, M. J., & PROTOPAPADAKIS, A.A. (2002). “Macroeconomic Factors Do
  • Influence Aggregate Stock Returns”, Review Of Financial Studies, 15(3), 751-782.
  • GORDON, M. J. (1962). The Investment, Financing, And Valuation Of The Corporation.
  • Homewood, Illinois: Irwin.
  • GRIFFIN, J. M., & LEMMON, M. L. (2002). “Book-To-Market Equity, Distress Risk, And
  • Stock Returns”, The Journal Of Finance, 57 (5), 2317-2336.
  • HATİPOGLU, M., ve UCKUN, N., (2013) “Behavioral Finance and Financial Decision: A
  • Case Study in Turkey” International Journal of Business and Management Studies
  • ISSN: 2158-1479 :2(1):1–8
  • HUANG, R. D. (1985). “Common Stock Returns And Presidential Elections”, Financial
  • Analysts Journal, 41, 58-61.
  • KADERLİ, Y., & BAŞKAYA, H. (2014). “Halka Açık Firmalarda Kâr Payı Dağıtım
  • Duyurularının Hisse Senedi Fiyatlarına Etkisinin Ölçülmesi: Borsa İstanbul’da
  • Bir Uygulama”, Sosyal Bilimler Enstitüsü Dergisi, 1(1), 49-64.
  • KIM, H. Y., & MEI, J. P. (2001). “What Makes The Stock Market Jump? An Analysis Of
  • Political Risk On Hong Kong Stock Returns”, Journal Of International Money And
  • Finance, 20(7), 1003-1016.
  • LIARGOVAS, P., & REPOUSIS, S. (2010). “The Impact Of Terrorism On Greek Banks’
  • Stocks: An Event Study”, International Research Journal Of Finance And Economics,
  • , 1450-2887.
  • LOBO, B. J. (1999). “Jump Risk in The U.S. Stock Market: Evidence Using Political
  • Information”, Review Of Financial Economics, 8(2), 149-163.
  • MINOR, J. (2003). “Mapping The New Political Risk”, Risk Management, 50(3), 20.
  • NGUYEN, A.P., & ENOMOTO, C. E. (2009). “Acts Of Terrorism And Their Impacts On
  • Stock Index Returns And Volatility: The Cases Of The Karachi And Tehran Stock
  • Exchanges”, International Business & Economics Research Journal, 8(12), 75–86.
  • SAATY, T. L., ÖZDEMİR, M. S., & SHANG, J. S. (2015). “The Rationality of
  • Punishment—Measuring the Severity of Crimes: An AHP-Based Orders-of-
  • Magnitude Approach”, International Journal of Information Technology & Decision
  • Making, 14(01), 5-16.
  • SAATY, T.L. (1980). The Analytic Hierarchy Process. New York: McGraw-Hill.
  • SHARMA, G.D., & MAHENDRU, M. (2010). “Impact Of Macro-Economic Variables On
  • Stock Prices İn India”, Global Journal Of Management And Business Research, Vol.
  • , No. 7.
  • TURSKIS, Z., & ZAVADSKAS, E. K. (2011). “Multiple criteria decision making (MCDM)
  • methods in economics: an overview”, Technological and economic development of
  • economy, (2), 397-427.
  • VASSALOU, M., & XING, Y. (2004). “Default Risk İn Equity Returns”, The Journal Of
  • Finance, 59 (2), 831-868.
  • WANG, J. J., & YANG, D. L. (2007). “Using a hybrid multi-criteria decision aid method
  • for information systems outsourcing”, Computers & Operations Research, 34(12),
  • -3700.
  • WU, W., KOU, G., PENG, Y., & ERGU, D. (2012). “Improved AHP-group decision making
  • for investment strategy selection”, Technological and Economic Development of
  • Economy, 18(2), 299-316.
  • ZOPOUNIDIS, C., GALARIOTIS, E., Doumpos, M., Sarri, S., & Andriosopoulos, K.
  • (2015). “Multiple Criteria Decision Aiding for Finance: An Updated Bibliographic
  • Survey”, European Journal of Operational Research. Published online,
  • doi:10.1016/j.ejor.2015.05.032
  • ZÜGÜL, M., & ŞAHİN, C. (2009). “İMKB 100 Endeksi İle Bazı Makroekonomik
  • Değişkenler Arasındaki İlişkiyi İncelemeye Yönelik Bir Uygulama”, Akademik
  • Bakış Uluslararası Hakemli Sosyal Bilimler E-Dergisi. 16, 1- 16.