The Role of Behavioral Finance in Generations’ Investment Decisions

Fırat Sever; Sinan Aytekin

Makale detayları

The Role of Behavioral Finance in Generations’ Investment Decisions

Yazarlar:

Fırat Sever | Sinan Aytekin

Yayıncı:

Kütahya Dumlupinar University

Ana Başlıklar:

Davranışsal Finans

Dergi:

İktisadi Araştırmalar Dergisi Vol.3 Issue 1, pp.15-25

Belge Tipi:

Makale

Yayın Tarihi:

7/2025

Belge Dili:

Türkçe

Document ID (Org No.):

2001353945

pISSN:

3023-5812

Anahtar kelimeler:

Özet:

 Contrary to traditional financial theories, it has been observed that investors do not make investment decisions based on rationality, and their decisions are affected by various psychological factors. Comparing the decision-making processes of investors, especially the younger generations who have access to more information, whose investment habits have changed rapidly due to the impact of technology, has become an important research topic. Based on this, this study aims to discuss the biases of different generations X, Y and Z when making investment decisions within the scope of behavioral finance models. In the study, the findings of the survey conducted on 341 investors were supported by the results of exploratory factor analysis and one-way analysis of variance ANOVA, proving that there are significant behavioral differences in investment decisions of generations. As a result, the study reveals that generational differences affect investor behavior and that the inclusion of the generation factor in investment strategies will yield more effective results.

 Contrary to traditional financial theories, it has been observed that investors do not make investment decisions based on rationality, and their decisions are affected by various psychological factors. Comparing the decision-making processes of investors, especially the younger generations who have access to more information, whose investment habits have changed rapidly due to the impact of technology, has become an important research topic. Based on this, this study aims to discuss the biases of different generations X, Y and Z when making investment decisions within the scope of behavioral finance models. In the study, the findings of the survey conducted on 341 investors were supported by the results of exploratory factor analysis and one-way analysis of variance ANOVA, proving that there are significant behavioral differences in investment decisions of generations. As a result, the study reveals that generational differences affect investor behavior and that the inclusion of the generation factor in investment strategies will yield more effective results.

 Contrary to traditional financial theories, it has been observed that investors do not make investment decisions based on rationality, and their decisions are affected by various psychological factors. Comparing the decision-making processes of investors, especially the younger generations who have access to more information, whose investment habits have changed rapidly due to the impact of technology, has become an important research topic. Based on this, this study aims to discuss the biases of different generations X, Y and Z when making investment decisions within the scope of behavioral finance models. In the study, the findings of the survey conducted on 341 investors were supported by the results of exploratory factor analysis and one-way analysis of variance ANOVA, proving that there are significant behavioral differences in investment decisions of generations. As a result, the study reveals that generational differences affect investor behavior and that the inclusion of the generation factor in investment strategies will yield more effective results.

 Geleneksel finans teorilerinden farklı olarak, yatırımcıların yatırım kararlarını rasyonellik temelinde almadıkları, bunun yerine kararlarının çeşitli psikolojik faktörlerden etkilendiği gözlemlenmiştir. Özellikle, teknolojinin etkisiyle daha fazla bilgiye ulaşabilen ve yatırım yapma alışkanlıkları hızla değişen genç kuşaklarda yatırımcılar arasındaki karar alma süreçlerinin karşılaştırılması önemli bir araştırma konusu olmuştur. Buradan hareketle bu çalışmada farklı kuşakların X, Y ve Z yatırım kararı verirken gösterdikleri önyargıları davranışsal finans modelleri çerçevesinde ele alınması amaçlanmıştır. Çalışmada 341 yatırımcı üzerinde yapılan anket bulguları açımlayıcı faktör analizi ve tek yönlü varyans analizi ANOVA sonuçları ile desteklenerek, kuşakların yatırım kararlarında anlamlı davranışsal farklar olduğu ispatlanmıştır. Sonuç olarak çalışma kuşak farklılıklarının yatırımcı davranışlarını etkilediğini ve yatırım stratejilerinde kuşak faktörünün dikkate alınmasının daha verimli sonuçlar ortaya koyacağını öne sürmektedir.

Makale detayları

The Role of Behavioral Finance in Generations’ Investment Decisions

Yazarlar:

Fırat Sever | Sinan Aytekin

Yayıncı:

Kütahya Dumlupinar University

Ana Başlıklar:

Davranışsal Finans

Dergi:

İktisadi Araştırmalar Dergisi Vol.3 Issue 1, pp.15-25

Belge Tipi:

Makale

Yayın Tarihi:

7/2025

Belge Dili:

Türkçe

Document ID (Org No.):

2001353945

pISSN:

3023-5812

Generations

Investment Decisions

Behavioral FinanceKuşaklar

Yatırım Kararları

Davranışsal Finans

Sayı

Makale detayları

The Role of Behavioral Finance in Generations’ Investment Decisions

Yazarlar: Fırat Sever | Sinan Aytekin

Yayıncı: Kütahya Dumlupinar University

Ana Başlıklar: Davranışsal Finans

Dergi: İktisadi Araştırmalar Dergisi Vol.3 Issue 1, pp.15-25

Belge Tipi: Makale

Yayın Tarihi: 7/2025

Belge Dili: Türkçe

Document ID (Org No.): 2001353945

pISSN: 3023-5812

Generations

Investment Decisions

Behavioral FinanceKuşaklar

Yatırım Kararları

Davranışsal Finans

Sayı

Yazarlar:

Fırat Sever | Sinan Aytekin

Yayıncı:

Kütahya Dumlupinar University

Ana Başlıklar:

Davranışsal Finans

Dergi:

İktisadi Araştırmalar Dergisi Vol.3 Issue 1, pp.15-25

Belge Tipi:

Makale

Yayın Tarihi:

7/2025

Belge Dili:

Türkçe

Document ID (Org No.):

2001353945

pISSN:

3023-5812