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

Year 2018, Volume: 20 Issue: 1, 162 - 178, 08.06.2018

Emre Cengiz

https://doi.org/10.31460/mbdd.328584

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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