CATCHING ZEITGEIST: SOCIAL MEDIA PRESENCE OF TURKISH INTERMEDIARY INSTITUTIONS

Year 2017, Volume: 6 Issue: 3, 280 - 290, 30.09.2017

Lale Arslan

https://doi.org/10.17261/Pressacademia.2017.687

Abstract

Purpose- Social
media has become an important aspect of finance in the past few years and all
reputable firms like to present themselves in social media, because it implies
a corporate identity from the investors’ point of view. Especially for
generation Y and millennials who are born to the age of internet, social media
has become a way of life. It is also the key of life for corporations that want
to reach these generations as a part of their client portfolio. The aim of this
paper is to investigate the social media presence of Turkish intermediary
institutions and figure out whether these institutions have managed to make an
online impression and whether this impression has taken an effect on the
financial front for these firms by analyzing related income and other related
indicators such as client complaints as well as taking into account the
strategies involving Istanbul Financial Center Project (IFC).

Methodology- Data
belonging to a total of 66 intermediary institutions are collected and
independent t-test and parametric and nonparametric correlations analyses are
applied to data.

Findings- According
to analysis results there is a significant relationship between social media
presence of intermediary institutions and authorization certificate types of
these institutions, forex income and the number of client complaints. Location
of intermediary institutions is found not to be significant, opposite of
suggested by IFC.

Conclusion- Only half of
Turkish intermediary institutions are found to be effectively present in social
media. This unwillingness of intermediary institutions limits the promotion of
finance sector and contradicts the IFC project. 

Keywords

Intermediary institutions, finance, social media, income, corporations

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