Factors Affecting Portfolios Created With Islamic And Traditional Perspective In Borsa İstanbul: Artifıcial Intelligence Supported Hybrid Model Proposal

Yıl 2025, Cilt: 18 Sayı: 2, 351 - 380, 11.08.2025

Diler Türkoğlu , Fatih Konak

https://doi.org/10.29067/muvu.1639926

Öz

This research employs a hybrid artificial intelligence model to attempt to identify the elements influencing the portfolios constructed from the conventional and Islamic viewpoints. By applying the Fama French Five-Factor regression model combined with variables based on accounting and market, it is possible to identify potential differences in the factors influencing the portfolios developed from both a conventional and Islamic perspective. Furthermore, it is found that the effective gene parameters in the portfolios built from various viewpoints differed dependent on the evaluation performed using the hybrid model based on Artificial Neural Networks and developed through the use of Genetic Algorithm optimization. Additionally, it is found that, when combined with the other two models, the hybrid model, which is based on artificial neural networks and produced by genetic algorithm optimization, produces results that are more accurate. As a consequence, it becomes apparent to observe behavioral differences between the portfolios made using the traditional and Islamic perspectives.

Anahtar Kelimeler

Islamic Finance , Behavioral Finance , Fama-French , Artificial Neural Networks , Genetic Algorithm.

Borsa İstanbul'da İslami ve Geleneksel Perspektifle Oluşturulan Portföyleri Etkileyen Faktörler: Yapay Zeka Destekli Hibrit Model Önerisi

Öz

Bu araştırma geleneksel ve İslami bakış açılarından oluşturulan portföyleri etkileyen unsurları belirlemeye çalışmak için hibrit bir yapay zekâ modeli önermektedir. Muhasebe ve piyasa bazlı değişkenlerle birleştirilmiş Fama French Beş Faktörlü regresyon modeli uygulanarak hem geleneksel hem de İslami bakış açısıyla geliştirilen portföyleri etkileyen faktörlerdeki potansiyel farklılıkların belirlenmesi mümkün olmaktadır. Ayrıca, Yapay Sinir Ağları’na dayalı ve Genetik Algoritma optimizasyonu kullanılarak geliştirilen hibrit model ile yapılan değerlendirmeye bağlı olarak, farklı bakış açılarından oluşturulan portföylerdeki etkili gen parametrelerinin değişiklik gösterdiği, buna ek olarak yapay sinir ağlarına dayalı ve genetik algoritma optimizasyonu ile üretilen hibrit modelin, diğer iki modelle birleştirildiğinde daha doğru sonuçlar verdiği tespit edilmiştir. Sonuç olarak, geleneksel ve İslami bakış açılarıyla oluşturulan portföyler arasındaki davranışsal farklılıkları gözlemlemek mümkün hale gelmektedir.

Anahtar Kelimeler

İslami Finans , Davranışsal Finans , Fama-French , Yapay Sinir Ağları , Genetik Algoritma

Kaynakça

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