SOCIAL MEDIA AND INVESTMENT FIRMS IN TURKEY

Year 2017, Volume: 3 Issue: 1, 337 - 349, 30.06.2017

Lale Aslan

https://doi.org/10.17261/Pressacademia.2017.418

Abstract

Social media
has become an important aspect of finance in the past few years and all
reputable firms like to present themselves in social media, because it implies
a corporate identity from the investors’ point of view. Especially for
generation Y and millennials who are born to the age of internet, social media
has become a way of life. It is also the key of life for corporations that want
to reach these generations as a part of their client portfolio. The aim of this
paper is to investigate the social media presence of Turkish intermediary
institutions and figure out whether these institutions have managed to make an
online impression and whether this impression has taken an effect on the
financial front for these firms by analyzing related income and other related
indicators such as client complaints as well as taking into account the
strategies involving Istanbul Financial Center Project (IFC). Data belonging to a total of 66 intermediary
institutions are collected and independent t-test and parametric and
nonparametric correlations analyses are applied to data. According to analysis results there is a significant
relationship between social media presence of intermediary institutions and
authorization certificate types of these institutions, forex income and the
number of client complaints. Location of intermediary institutions is found not
to be significant, opposite of suggested by IFC. Only half of Turkish intermediary institutions are found to be
effectively present in social media. This unwillingness of intermediary
institutions limits the promotion of finance sector and contradicts the IFC
project.

 

Keywords

Intermediary Institutions, fnance, social media, income, corporations

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