Finansal Risk Algısının Yatırımlarda Davranışsal Finans Eğilimi Üzerindeki Etkisinde Finansal Okuryazarlığın Aracı Rolü

Year 2024, Volume: 7 Issue: 4, 1074 - 1084, 08.01.2025

Emre Hayri Baraz , Tuğba Dikbaş Çavuş

Abstract

Bu çalışma, finansal risk algısının yatırım kararlarında davranışsal finans eğilimlerini nasıl etkilediğini ve finansal okuryazarlığın bu süreçteki aracı rolünü incelemektedir. Davranışsal finans, bireylerin yatırım kararlarını etkileyen irrasyonel davranışları ve bu davranışların altında yatan psikolojik faktörleri ele alır. Finansal risk algısı, bireylerin belirsizlik ve risk karşısında nasıl tepki verdiklerini ifade ederken, finansal okuryazarlık bireylerin bu riskleri anlama ve yönetme yeteneğini artırır. Çalışma, finansal risk algısı ile davranışsal finans eğilimleri arasındaki ilişkiyi ve bu süreçte finansal okuryazarlığın aracı rolünü teorik ve ampirik literatür ışığında detaylı bir şekilde analiz etmektedir. Elde edilen veriler SPSS ve AMOS programlarıyla analiz edilmiştir. Bu çalışmanın bulguları, finansal okuryazarlık ve finansal risk algısının yatırım kararları üzerindeki davranışsal eğilimler üzerindeki etkisini desteklemekte ve finansal okuryazarlığın bu süreçte aracı bir rol üstlenebileceğini göstermektedir. Yapısal Eşitlik Modellemesi (YEM) sonuçları, finansal risk algısının davranışsal finans eğilimleri üzerinde doğrudan bir etkisi olduğunu ve finansal okuryazarlığın bu etkiyi olumlu yönde şekillendirdiğini ortaya koymaktadır.

Keywords

Finansal Risk Algısı, Davranışsal Finans Eğilimi, Finansal Okuryazarlık

Ethical Statement

Bu makale Araştırma ve Yayın Etiğine uygundur. Beyan edilecek herhangi bir çıkar çatışması yoktur. Araştırmanın ortaya konulmasında herhangi bir mali destek alınmamıştır. Makale yazım ve intihal/benzerlik açısından kontrol edilmiştir. Makale, “en az iki dış hakem” ve “çift taraflı körleme” yöntemi ile değerlendirilmiştir. Makalede kullanılan ölçek için yazar(lar) tarafından ölçeğin orjinal sahibinden izin alındığı beyan edilmiştir. Yazar(lar), dergiye imzalı “Telif Devir Formu” belgesi göndermişlerdir. Bu araştırmanın yapılması ile ilgili olarak Kayseri Üniveritesi Etik Komisyonundan 12/11/2024 tarih ve 121457 sayılı “Etik İzni Belgesi” alınmıştır.

Supporting Institution

Araştırmanın ortaya konulmasında herhangi bir mali destek alınmamıştır.

Thanks

Makalenin süreç değerlendirmesinde katkılar sağlayan baş editöre, yayın kuruluna ve hakemlere teşekkür ederiz. Bu çalışmanın hayata geçirilmesinde destekleri için Prof. Dr. Derviş BOZTOSUN'a, Doktorant Ömer ÇAVUŞ'a ve Necla DİKBAŞ'a teşekkür ederiz.

The Mediating Role of Financial Literacy in the Effect of Financial Risk Perception on Behavioral Finance Tendency in Investments

Abstract

This study examines how financial risk perception influences behavioral finance tendencies in investment decisions and explores the mediating role of financial literacy in this process. Behavioral finance addresses the irrational behaviors that affect individuals' investment decisions and the psychological factors underlying these behaviors. Financial risk perception reflects how individuals respond to uncertainty and risk; financial literacy enhances their ability to understand and manage these risks. The study provides a detailed analysis of the relationship between financial risk perception and behavioral finance tendencies, as well as the mediating role of financial literacy, in light of theoretical and empirical literature. The collected data were analyzed using SPSS and AMOS software. The findings of this study support the impact of financial literacy and financial risk perception on behavioral tendencies in investment decisions, demonstrating that financial literacy may assume a mediating role in this process. The results of the Structural Equation Modelling (SEM) reveal that financial risk perception has a direct effect on behavioral finance tendencies and that financial literacy positively shapes this effect.

Keywords

Financial Risk Perception, Behavioral Finance Tendency, Financial Literacy

Ethical Statement

This paper complies with Research and Publication Ethics, has no conflict of interest to declare, and has received no financial support. The article has been checked for spelling and plagiarism/similarity. The article was evaluated by "at least two external referees" and "double blinding" method. For the scale used in the article, it is declared by the authors that permission was obtained from the original owner of the scale. The author(s) sent a signed "Copyright Transfer Form" to the journal. Regarding the conduct of this research, an “Ethics Permission Certificate” dated 12/11/2024 and numbered 121457 was obtained from the Ethics Committee of the University of Kayseri University.

Supporting Institution

No financial support was received for the conduct of the research.

Thanks

We would like to thank the editor-in-chief, the editorial board and referees for their contributions to the evaluation of the article. We would like to thank Prof. Dr. Derviş BOZTOSUN, PhD Ömer ÇAVUŞ and Necla DİKBAŞ for their support in the implementation of this study.

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