Finansal Okuryazarlığın Yatırım Piyasalarına Katılım Üzerindeki Etkisi: Üniversite Öğrencileri Üzerine Bir İnceleme

Abstract

Çalışmanın amacı üniversite öğrencilerinin finansal okuryazarlık düzeylerinin finansal yatırım piyasalarına katılımları üzerindeki etkisini incelemektir. Bu amaç doğrultusunda Sağlık Bilimleri Üniversitesi’nde öğrenim gören 703 lisans ve ön lisans öğrencisinin katıldığı bir anket çalışması gerçekleştirilmiştir. Elde edilen veriler lojistik regresyon analizine tabi tutulmuştur. Analiz sonuçlarına göre objektif finansal okuryazarlığın yatırım piyasalarına katılım üzerinde anlamlı bir etkisinin olmadığı belirlenmiştir. Algılanan finansal okuryazarlığın ise yatırım piyasalarına katılım üzerinde etkili olduğu saptanmıştır. Bunun yanı sıra, risk karşıtlığı, tasarruf eğilimi, cinsiyet, yaş, çalışma durumu ve aile bireyleri arasında finans alanında çalışan bulunmasının öğrencilerin finansal yatırım piyasalarına katılımları üzerinde etkili olduğu sonucuna ulaşılırken, öğrenim durumunun finansal yatırım piyasalarına katılım üzerinde açıklayıcı bir faktör olmadığı saptanmıştır. Ayrıca, algılanan yüksek finansal okuryazarlık, tasarruf eğilimi, yaş, çalışıyor olma ve aile bireyleri arasında finans alanında çalışan bulunması ile finansal araçlara yatırım yapılması arasında doğru yönlü bir ilişki tespit edilirken, risk karşıtlığı ve kadın olma ile finansal araçlara yatırım yapılması arasında ters yönlü bir ilişki belirlenmiştir. Sonuç olarak, öğrenciler her ne kadar sahip olduklarını düşündükleri finansal okuryazarlık seviyesine uygun olarak, akılcı bir sebebe dayanarak finansal araçlara yatırım yapsalar da gerçekte sahip olduklarını düşündükleri finansal okuryazarlık düzeyine sahip olmadıkları için yapmış oldukları finansal yatırımlar, temel yatırım bilgisiyle desteklenmemiş spekülatif nitelikte yatırımlardan ibarettir. Yatırım kararı alırken bilinçli davranma niyetine sahip olmalarına rağmen farkında olmadan bilinçsiz yatırımlar yapmaktadırlar.

Keywords

• Finans bilgisi
• Finansal okuryazarlık
• Yatırım kararları
• Finansal tabana yayılma
• Lojistik regresyon

The Effect Of Financial Literacy On Participation In Investment Markets: A Study On University of Health Sciences Students

Abstract

The purpose of this study is to examine the effect of university students’ financial literacy level on their participation in financial investment markets. For this purpose, a survey was conducted with the participation of 703 undergraduate and associate degree students at the University of Health Sciences. The obtained data were subjected to logistic regression analysis. According to the analysis results, objective financial literacy did not have a significant effect on participation in investment markets. It was determined that perceived financial literacy impacts participation in investment markets. Further, while it was concluded that risk aversion, savings tendency, gender, age, working status, and the presence of family members in the field of finance had an impact on students’ participation in financial investment markets, it was determined that education level was not an explanatory factor on participation in such markets. Additionally, while a positive relationship was found between perceived higher financial literacy, propensity to save, age, being employed, having a family member working in the field of finance, and investing in financial instruments, a negative relationship was determined between risk aversion, being a woman, and investing in financial instruments. Consequently, although students invest in financial instruments based on a rational reason in accordance with their level of financial literacy, in reality, they do not have this level of financial literacy, and their financial investments consist of speculative investments that are not supported by basic investment knowledge. Although they intend to act consciously when making investment decisions, they make unconscious investments without realising it.

Keywords

• Finance knowledge
• Financial literacy
• Investment decisions
• Financial inclusion
• Logistic regression

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