FİRMALARIN FİNANSMAN VE YATIRIM KARARLARI ÜZERİNDE İYİMSERLİK ÖNYARGISININ ETKİSİ

Year 2018, Volume: 10 Issue: 18, 158 - 171, 30.05.2018

Bilgehan Tekin

https://doi.org/10.20990/kilisiibfakademik.428627

Cited By: 1

Abstract

Bu çalışma,
genel anlamda davranışsal finans disiplininin bulgularının firma yöneticileri
bağlamında ele alınması sonucu ortaya çıkmış “davranışsal kurumsal finans”
konusunu ele almaktadır. Bu bağlamda daha çok uluslararası alanda yapılan
çalışmalara konu olan “davranışsal önyargıların firmaların finansal kararları
üzerindeki etkisi” konusu Türkiye’deki KOBİ’ ler bağlamında ampirik açıdan ele
alınmıştır. Daha özelde ise KOBİ yöneticilerinin sergiledikleri iyimserlik
önyargısının finansman (sermaye yapısı) ve yatırım kararları üzerindeki etkisi
tespit edilmeye çalışılmıştır. İyimserliğin ölçülmesi amacıyla “Genel Öz
Yeterlilik Ölçeği” kullanılmıştır. Söz konusu ölçeğin dahil edildiği ve aynı
zamanda  finansal kararlara ilişkin
ifadeleri içeren anket İstanbul’ da faaliyet gösteren 255 adet KOBİ ölçeğindeki
firmaya uygulanmıştır. Elde edilen veriler korelasyon analizi, bağımsız gruplar
t testi ve frekans analizi ile analiz edilmiştir. Çalışma sonucunda firma
yöneticilerinin iyimserlik önyargısı sahibi oldukları ve iyimserlik düzeyi ile firma
yatırım kararları arasında belirli düzeyde ilişki bulunduğu tespit edilmiştir.
Bu çalışma kapsamında finansman kararları ile iyimserlik arasında ise anlamlı
bir ilişki bulunamamıştır.

Keywords

İyimserlik, Finansal Kararlar, KOBİ, Davranışsal Kurumsal Finans

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