THE EFFECT OF PSYCHOLOGICAL DISTANCE AND PERCEIVED INVESTING COMPETENCE ON WILLINGNESS TO INVEST? AN EXPERIMENTAL STUDY IN TURKEY

Abstract

Construal level of Theory suggests when an individual feels more psychological distant about an object, the level of mental construal about the object becomes more abstract. From the perspective of the investment, when a firm is perceived psychological distant by investors, it might not be subject to investment. This study tests whether the psychological distance in terms of social familiarity and perceived investing competence affect the willingness of invest of the investors. The results indicated that there was a positive relationship between social familiarity and willingness to invest. Nevertheless, the positive relationship was stronger between perceived investing competence and the willingness to invest. The results also indicate that perceived investing competence acts as a mediator through the positive relationship between the social familiarity and the investors’ willingness to invest.

Keywords

• Psychological Distance,Home Bias,Investor Competence

PSİKOLOJİK UZAKLIK VE ALGILANAN YATIRIM YETERLİLİĞİNİN YATIRIM YAPMA İSTEĞİNE ETKİSİ: TÜRKİYE’DE DENEYSEL BİR ÇALIŞMA

Abstract

Teorinin kesinlik düzeyi kavramına göre bir birey, bir objeyi psikolojik olarak daha uzak olarak algıladığında, o obje hakkındaki yapılan zihinsel yorum düzeyi daha soyut olmaktadır. Yatırım perspektifinden bakıldığında bir firma eğer yatırımcılar tarafından psikolojik olarak uzak algılanırsa, yatırımcıyı çekemeyebilir. Bu çalışma, bir psikolojik uzaklık boyutu olan sosyal yakınlık ile algılanan yatırım yeterliliğinin, yatırımcıların yatırım yapma isteklerini etkileyip etkilemediğini test etmektedir. Sonuçlara göre sosyal yakınlık ve yatırım yapma istekliliği arasında pozitif bir ilişki yer almaktadır. Ayrıca, algılanan yatırım yeterliliği ile yatırım yapma istekliliği arasında güçlü bir ilişki bulunmuştur. Diğer taraftan, algılanan yatırım yeterliliğinin; sosyal yakınlık ile yatırımcıların yatırım yapma istekliliği arasındaki pozitif ilişki arasında aracı değişken olarak görev yaptığı bulunmuştur.

Keywords

• Psikolojik Uzaklık,Yakın Hissedilen Şirketlere Yatırım Önyargısı,Yatırım Yeterliliği

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