Bireysel Yatırımcıların Finansal Yatırım Kararlarında FoMO, Belirsizlikten Kaçınma ve Dürtüselliğin Etkisi

Year 2024, Volume: 27 Issue: 2, 673 - 695, 29.11.2024

Vahdet Altundal , Mehpare Tokay Argan , Metin Argan

https://doi.org/10.29249/selcuksbmyd.1526087

Abstract

ÖZ
İnternet, mobil cihaz ve sosyal medya araçlarının kullanımının artması, bireysel yatırımcıların yatırım kararlarını etkileyen faktörlerinde artmasına neden olmaktadır. Özellikle sosyal medya platformları, bireysel yatırımcıların gelişmeleri kaçırma korkusu (FoMO), belirsizlikten kaçınma ve dürtüsel satın alma duygularını tetikleyerek yatırımcıların davranışlarını yönlendirebilir ve yatırım kararlarını doğrudan etkileyebilir. Literatürde pazarlama, iletişim ve psikoloji alanlarında incelenen FoMO, belirsizlikten kaçınma ve dürtüsellik, finans alanında yapılan birkaç çalışmada ayrı ayrı ele alınmıştır. Bu çalışmayı diğer çalışmalardan ayıran en önemli nokta, bireysel yatırımcıların yatırım kararlarında FoMO, belirsizlikten kaçınma ve dürtüsellik arasındaki ilişkinin bir arada incelenmesidir. Araştırmada kullanılan veriler, 18 yaş üstü, geliri olan ve en az bir adet finansal yatırım yapmış kişilerden belirsizlikten kaçınma, dürtüsellik ve FoMO düzeylerini ölçmeye yönelik bir anket aracılığıyla toplanmıştır. Araştırmada katılımcıların yatırım tercihleri, belirsizlikten kaçınma, dürtüsellik ve FoMO ölçekleri üzerinde faktör analizi yapılmış, faktörlerin Cronbach Alpha değerleri incelenmiş ve ardından her bir ölçek için küme analizi yapılmıştır. Çalışmada bireysel yatırımcıların yatırım tercihleri ve yatırım sıklıkları ayrı ayrı incelenerek aynı yatırım türüne yatırım yapan yatırımcıların yatırım sıklıklarına göre farklı davranışlar sergiledikleri sonucuna ulaşılmıştır. Bu durum aynı yatırım araçlarına yatırım yapan yatırımcıların FoMO, dürtüsellik ve belirsizlikten kaçınma düzeylerinin farklı olduğunu göstermektedir. Her bir yatırım türünde yatırım sıklığı ile FoMO, belirsizlikten kaçınma ve dürtüsellik arasındaki ilişkiler çalışmanın ilgili bölümlerinde ayrıntılı olarak sunulmaktadır.

Keywords

Davranışsal finans, yatırım kararları, FoMO, belirsizlikten kaçınma, dürtüsellik

The Effect of FoMO, Uncertainty Avoidance and Impulsiveness on Financial Investment Decisions of Individual Investors

Abstract

The increase in the use of internet, mobile devices and social media tools causes an increase in the factors affecting the investment decisions of individual investors. Especially social media platforms can trigger individual investors' fear of missing out (FoMO), uncertainty avoidance and impulsive buying emotions, which can direct investors' behavior and directly affect their investment decisions. In the literature, FoMO, uncertainty avoidance and impulsiveness, which have been studied in marketing, communication, and psychology, have been addressed separately in a few studies in finance. The most important point that distinguishes this study from other studies is that the relationship between FoMO, uncertainty avoidance and impulsiveness in the investment decisions of individual investors is studied together. The data used in the study was collected through a survey to measure uncertainty avoidance, impulsivity and FoMO levels from people over the age of 18, who have income and have made at least one financial investment. In the study, factor analysis was conducted on the participants' investment preferences, uncertainty avoidance, impulsivity and FoMO scales, Cronbach Alpha values of the factors were examined, and then cluster analysis was conducted for each scale. In the study, by examining individual investors' investment preferences and investment frequency separately, it was concluded that investors who invest in the same investment type exhibit different behaviors according to their investment frequency. This shows that investors who invest in the same investment instruments have different levels of FoMO, impulsiveness and uncertainty avoidance. The relationships between the frequency of investment in each type of investment and FoMO, uncertainty avoidance and impulsiveness are presented in detail in the relevant sections of the study.

Keywords

Behavioral finance, investment decisions, FoMO, uncertainty avoidance, impulsiveness

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