DAVRANIŞSAL KURUMSAL FİNANS BAĞLAMINDA ÇIPALAMA (DAYANAK NOKTASI) ÖNYARGISININ FİNANSAL KARARLARDAKİ ETKİSİ

Abstract

İşletmelerde finansal karar süreçleri en önemli yönetim aşamalarından biridir. Bu aşama, özellikle büyümekte olan işletmeler açısından hatalı kararların maliyetinin yüksek olması nedeniyle son derece dikkatli yürütülmesi gereken ve karar süreçlerini etkileyebilecek tüm faktörlerin dikkate alınmasını gerektiren bir süreci ifade eder. Bunun yanında, pratik hayatta, işletmelerde karar süreçleri geleneksel finansın varsaydığı gibi sadece rasyonellik ve beklenen fayda teorileri bağlamında alınmamaktadır. Yöneticilerin karar süreçleri üzerinde etkisi olan çeşitli psikolojik ve davranışsal faktörlerin de dikkate alınması sağlıklı kararların alınabilmesi için şarttır. Bu çalışmada söz konusu olgulardan hareketle davranışsal kurumsal finans kapsamında dikkate alınan dayanak noktası önyargısının Küçük ve Orta Büyüklükteki İşletme yöneticilerinde izlenme düzeyi ve alınan bazı finansal boyutlu kararlardaki etkisi incelenmiştir. Çalışma sonucunda işletme yöneticilerinin dayanak noktası önyargı düzeyleri tespit edilmiş ancak yatırım ve finansman kararları üzerinde herhangi bir etkisi tespit edilememiştir.

Keywords

• Dayanak Noktası,Çıpalama,Finansal Kararlar,Davranışsal Finans

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