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Financial Factors Affecting Investors' Risk Appetite: Empirical Evidence from Domestic and Foreign Investors on BIST

Sayı: 123 1 Nisan 2025
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Financial Factors Affecting Investors' Risk Appetite: Empirical Evidence from Domestic and Foreign Investors on BIST

Öz

This study aims to reveal the risk appetite of domestic and foreign investors in BIST. For this purpose, the effect of weekly data of BIST100 Index, 10-year bond yields, CDS, USD and Euro on the Risk Tendency for the period 2010-2024 is analysed. According to the ARDL bounds test results, Dollar and Euro have a significant effect on the risk appetite of domestic investors. Independent variables have no significant effect on the risk appetite of foreign investors. The findings reveal that equity investments of domestic investors are sensitive to foreign exchange markets.

Anahtar Kelimeler

Financial Markets, Risk Appetite, Stock Markets.

Kaynakça

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  3. Balat, A. (2020). Türkiye’nin hisse senedi piyasası ile yerli ve yabancı yatırımcı risk iştah endeksi ilişkisi: Eşbütünleşme ve nedensellik analizi. Erciyes Üniversitesi Sosyal Bilimler Enstitüsü Dergisi, (49), 162-171
  4. Bauer, M. D., Bernanke, B. S., & Milstein, E. (2023). Risk appetite and the risk-taking channel of monetary policy. Journal of Economic Perspectives, 37(1), 77-100. https://doi.org/10.1257/jep.37.1.77.
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  6. Beyhaghi, M., & Hawley, J. P. (2013). Modern portfolio theory and risk management: assumptions and unintended consequences. Journal of Sustainable Finance & Investment, 3(1), 17-37. https://doi.org/10.1080/20430795.2012.738600.
  7. Can Ergün, Z., Cagli, E. C., & Durukan Salı, M. B. (2023). The interconnectedness across risk appetite of distinct investor types in Borsa Istanbul. Studies in Economics and Finance, 40(3), 425-444. https://doi.org/10.1108/SEF-09-2022-0460.
  8. Cao, S. N., Deng, J., & Li, H. (2010). Prospect theory and risk appetite: an application to traders’ strategies in the financial market. Journal of Economic Interaction and Coordination, 5, 249-259. https://doi.org/10.1007/s11403-010-0073-7.
  9. Çelik, S., Dönmez, E., & Acar, B. (2017). Risk iştahının belirleyicileri: Türkiye örneği. Uşak Üniversitesi Sosyal Bilimler Dergisi, 10(IASOS Özel Sayısı-), 153-162. https://doi.org/10.12780/usaksosbil.372533.
  10. Çifçi, G., & Reis, Ş. G. (2020). Risk iştahı ile piyasa likiditesi arasındaki nedensellik ilişkisi. Ekonomi Politika ve Finans Araştırmaları Dergisi, 5(2), 389-403. https://doi.org/10.30784/epfad.687595.

Kaynak Göster

APA
Şahin, B. Ş. (2025). Financial Factors Affecting Investors’ Risk Appetite: Empirical Evidence from Domestic and Foreign Investors on BIST. Maliye ve Finans Yazıları, 123, 1-13. https://doi.org/10.33203/mfy.1540758
AMA
1.Şahin BŞ. Financial Factors Affecting Investors’ Risk Appetite: Empirical Evidence from Domestic and Foreign Investors on BIST. Maliye ve Finans Yazıları. 2025;(123):1-13. doi:10.33203/mfy.1540758
Chicago
Şahin, Bertaç Şakir. 2025. “Financial Factors Affecting Investors’ Risk Appetite: Empirical Evidence from Domestic and Foreign Investors on BIST”. Maliye ve Finans Yazıları, sy 123: 1-13. https://doi.org/10.33203/mfy.1540758.
EndNote
Şahin BŞ (01 Nisan 2025) Financial Factors Affecting Investors’ Risk Appetite: Empirical Evidence from Domestic and Foreign Investors on BIST. Maliye ve Finans Yazıları 123 1–13.
IEEE
[1]B. Ş. Şahin, “Financial Factors Affecting Investors’ Risk Appetite: Empirical Evidence from Domestic and Foreign Investors on BIST”, Maliye ve Finans Yazıları, sy 123, ss. 1–13, Nis. 2025, doi: 10.33203/mfy.1540758.
ISNAD
Şahin, Bertaç Şakir. “Financial Factors Affecting Investors’ Risk Appetite: Empirical Evidence from Domestic and Foreign Investors on BIST”. Maliye ve Finans Yazıları. 123 (01 Nisan 2025): 1-13. https://doi.org/10.33203/mfy.1540758.
JAMA
1.Şahin BŞ. Financial Factors Affecting Investors’ Risk Appetite: Empirical Evidence from Domestic and Foreign Investors on BIST. Maliye ve Finans Yazıları. 2025;:1–13.
MLA
Şahin, Bertaç Şakir. “Financial Factors Affecting Investors’ Risk Appetite: Empirical Evidence from Domestic and Foreign Investors on BIST”. Maliye ve Finans Yazıları, sy 123, Nisan 2025, ss. 1-13, doi:10.33203/mfy.1540758.
Vancouver
1.Bertaç Şakir Şahin. Financial Factors Affecting Investors’ Risk Appetite: Empirical Evidence from Domestic and Foreign Investors on BIST. Maliye ve Finans Yazıları. 01 Nisan 2025;(123):1-13. doi:10.33203/mfy.1540758