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MUHASEBE VE FİNANSMAN BİLİM DALINDA EĞİTİM ALAN LİSANSÜSTÜ ÖĞRENCİLERİNİN KAYIPTAN KAÇINMA VE RİSK ALGISININ ARAŞTIRILMASI: ATATÜRK ÜNİVERSİTESİ ÖRNEĞİ

Year 2022, Volume: 7 Issue: 2, 405 - 420, 26.12.2022

Serpil Sumer Nazan Güngör Karyağdı

https://doi.org/10.54452/jrb.1060254

Abstract

Bireyler yatırım yaparken karşılaşacakları riskleri ve mevcut kayıpları değerlendirerek yatırım yapmayı tercih etmektedirler. Ayrıca yatırım kararı alırken ortaya çıkan risk ve kayıp faktörünün şekillenmesinde bireylerin yaş, cinsiyet, eğitim durumu ve icra ettikleri meslekler gibi birçok unsur da etkili olmaktadır. Bu bağlamda bu çalışmadaki temel amaç, muhasebe ve finansman alanında eğitim gören lisansüstü öğrencilerin risk ve kayıptan kaçınma kavramlarına olan bakış açılarının irdelenerek, yatırım kararlarına etkilerinin araştırılmasıdır. Atatürk Üniversitesi öğrencilerine yönelik yapılan ve olgu bilim deseniyle analiz edilmeye çalışılan bu çalışmada, yarı yapılandırılmış görüşme formu tekniği kullanılmıştır. Çalışmaya ilişkin analizler sonucunda, lisansüstü eğitim alan bireylerin yatırım kararlarında almış oldukları eğitimin ve sahip oldukları mesleklerin etkili olduğu, risk algısının ve kayıptan kaçınma duygusunun alınan kararlarda etkili olduğu ortaya çıkmıştır. Kayıptan ve riskten kaçınmanın nedenleri arasında ise daha çok tahammül edememe ve pişmanlık gibi duyguların yer aldığı, kayıpların genellikle %10 oranında kabul gördüğü, yatırımların daha çok altın ve borsa gibi yatırım araçlarında kullanıldığı gibi sonuçlar elde edilmiştir. Bunun yanı sıra yapılan yatırım kararlarında “dini inanç”, “sahip olunan mesleğin getiri düzeyi” gibi çeşitli faktörlerin de etkili olduğu yönünde sonuçlar tespit edilmiştir.

Keywords

Gelir yatırım kayıptan kaçınma davranışsal finans

Supporting Institution

yok

Project Number

yok

References

  • Akın, M. (2020). Risk Avoid: Fear Of Loss. Journal Of Law And Economic Studies (HİAD), 12(1), 50-75.
  • Anbar, A., & Eker, M. (2012). Demographic And Socioeconomic Factors That Affect Financial Risk Perceptions Of İndividual İnvestors.International Journal Of Management Economics And Busines, 5(9), 129-150.
  • Bayrakdaroğlu, A., & Kuyu , E. (2018). Analysis Of Financial Risk Perceptions On Investment Decisions Of Women With Different Demographic Profiles. Journal Of Mehmet Akif Ersoy University Economics And Administrative Sciences Faculty, 5(3), 705-724.
  • Benartzi, S., & Thaler , R. (1999). Risk Aversion Or Myopia? Choices İn Repeated Gambles And Retirement Investments. Management Science, 45(3), 364-381.
  • Benartzi, S., & Thaler , T. (1995). Myopic Loss Aversion And The Equity Premium Puzzle. Quarterly Journal Of Economics., 110(1), 73-79.
  • Breuer, W., Riesener, M.,& Salzmann, A. (2014). Risk Aversion Vs. İndividualism: What Drives Risk Taking İn Household Finance? The European Journal Of Finance, 20(5), 446-462.
  • Bulut, E., & Er, B. (2017). Corporate Fınancıal Decısıons In The Context Of Behavıoral Corporate Fınance: A Lıterature Revıew. International Journal Of Economics And Administrative Studies (20), 33-50.
  • Büyüköztürk, Ş., Kılıç , E., Akgün , Ö., Karadeniz, Ş., & Demirel, F. (2014). Scientific Research Methods . Ankara : Pegem Publications.
  • Caner, A. E. (2019). Factors Affecting Investment Decisions Of Individual Investors (Master Thesis).Çağ University Institute Of Social Sciences
  • Demirci, E., & Buran Köse, Ö. (2021). Factors Affecting University Students' Tendency To Take Financial Risk: Empirical Results Of Economic, Financial And Financial Practices Cilt 2. Ankara: Gazi Publications.
  • Gül, M., Ekşi, İ., & Sürme, M. (2017). To İnvestigate Of Gold İnvestors Behaviours İn View Of Behavioural Finance: Case Of Gaziantep, Journal Of Finance Letters, 108, 143-165.
  • Güngör, S., & Demirel , E. (2018). Investor Bias İn Behavioral Finance. İstanbul : Melisa Publications.
  • Hamurcu, Ç. (2019). Does Resilience Affect Aversion Based Behavioral Finance Biases? Journal Of Accounting, Finance And Auditing Studie, 5(1), 254-269.
  • Hayta, A. (2014). Psychological Biases That İnfluence The Financial Risk Perception Of İndividual İnvestors. The Journal Of Turkish Social Research, 183(183), 329-352.
  • K Ruyter, N. S. (1998). Positioning Qualitative Market Research: Reflections From Theory And Practice. Qualitative Market Research. International Journal, 1(1), 7-14.
  • Kahraman, E., & Türkün Kaya , B. (2018). Determining The Factors Affecting The Perception Of Financial Risk, A Study At Muğla Sıtkı Koçman University.Iv. Internatıonal Caucasus- Central Asıa Foreıgn Trade And Logıstıcs Congress September,. Didim/Aydın.
  • Kahyaoğlu, M., Ülkü , S., & Gelmedi, O. (2011). Examination Of The İncrease İn The Usage Of Credit Cards Within The Frame Of Effect Of Loss Avoidance As Part Of Financialization İn Turkey Between The Years 2002 And 2010. The Dokuz Eylül University Faculty Of Business Journal, 12(1), 29-41.
  • Karagül, M. (2018). From Rational And Behavior Economy To Economy Of Values. Journal Of Mehmet Akif Ersoy University Economics And Administrative Sciences Faculty, 5(2), 425-440.
  • Kıyılar, M., & Akkaya , M. (2020). Behavioral Finance. İstanbul : Literatür Publications.
  • Korkmaz, T., & Ceylan , A. 2012. Capital Market And Securities Analysis, Bursa: Ekin Publications.
  • Kouwenberg, R., & Ziemba, W. (2007). Incentives And Risk Taking İn Hedge Funds." Journal Of Banking And Finance, 31(11), 3291-3310.
  • Miles, M., & Huberman , M. (1994). An Expanded Sourcebook Qualitative Data Analysis. Sage Publications.
  • Patton, M. (2002). Qualitative Research And Evaluation Methods. Sage Publications.
  • Silverman, D. (2013). Doing Qualitative Research. Londra: Sage Publications.
  • Tekin, B., & Cengiz , S. (2020). Are Overconfidence And Loss Aversion Biases İmportant Factors İn İnvestment Decisions. Global Journal Of Economics And Business Studies, 9(14), 38-54.
  • Tversky, A., And Kahneman, D. (1991). Loss Aversion İn Riskless Choice: A Reference-Dependent Model.The Quarterly Journal Of Economics, 106(4), 1039-1061.
  • Weber, R. (1990). Basic Content Analysis. California: Sage Publications.
  • Yıldırım, A., & Şimşek , H. (2016). Qualitative Research Methods İn The Social Sciences. Ankara : Seçkin Publications.
  • Yıldırım, H. (2017). Behavioral Finance Models Based On İnvestor Behaviors. İstanbul: Sokak Kitapları.

A STUDY ON LOSS AVOIDANCE AND RISK PERCEPTION OF GRADUATE STUDENTS STUDYING IN THE FIELD OF ACCOUNTING AND FINANCE SCIENCE: THE CASE OF ATATÜRK UNIVERSITY

Year 2022, Volume: 7 Issue: 2, 405 - 420, 26.12.2022

Serpil Sumer Nazan Güngör Karyağdı

https://doi.org/10.54452/jrb.1060254

Abstract

Individuals make various investment decisions in order to obtain income and to increase their income by using the parts of their income that exceed their expenses. It is seen that a number of factors are effective in these investment decisions taken. They prefer to invest by evaluating the risks and current losses that they will be involved in when investing in a company. For this reason, risk and loss factors are considered as very important factors in shaping the investment decisions made. As a result of this, many factors such as age, gender, educational status and the professions they perform are also effective in shaping the risk and loss factor that occurs when making an investment decision. It is also very important in which channels the investments are concentrated and situations such as loss avoidance during the making affect individual decisions. In this context, the main purpose of this study is to examine the perspectives of graduate students studying in the field of accounting and finance on the concepts of risk and loss aversion and to investigate their impact on investment decisions. In this study, which was conducted for Atatürk University students and tried to analyze the case with a science pattern, a semi-structured interview form technique was used. As a result of the analysis related to the study, it was revealed that the education they received and the professions they have are effective in the investment decisions of individuals receiving graduate education, risk perception and loss aversion are effective in the decisions made. Among the reasons for loss and risk aversion, results were obtained such that feelings such as intolerance and regret are more common, losses are generally accepted at 10%, and investments are mostly used in investment instruments such as gold and stock market. In addition, it has been found that various factors such as “religious belief” and “level of return on the owned profession” have an effect on investment decisions made.

Keywords

Income investment risk loss avoidance behavioral finace

Project Number

yok

References

  • Akın, M. (2020). Risk Avoid: Fear Of Loss. Journal Of Law And Economic Studies (HİAD), 12(1), 50-75.
  • Anbar, A., & Eker, M. (2012). Demographic And Socioeconomic Factors That Affect Financial Risk Perceptions Of İndividual İnvestors.International Journal Of Management Economics And Busines, 5(9), 129-150.
  • Bayrakdaroğlu, A., & Kuyu , E. (2018). Analysis Of Financial Risk Perceptions On Investment Decisions Of Women With Different Demographic Profiles. Journal Of Mehmet Akif Ersoy University Economics And Administrative Sciences Faculty, 5(3), 705-724.
  • Benartzi, S., & Thaler , R. (1999). Risk Aversion Or Myopia? Choices İn Repeated Gambles And Retirement Investments. Management Science, 45(3), 364-381.
  • Benartzi, S., & Thaler , T. (1995). Myopic Loss Aversion And The Equity Premium Puzzle. Quarterly Journal Of Economics., 110(1), 73-79.
  • Breuer, W., Riesener, M.,& Salzmann, A. (2014). Risk Aversion Vs. İndividualism: What Drives Risk Taking İn Household Finance? The European Journal Of Finance, 20(5), 446-462.
  • Bulut, E., & Er, B. (2017). Corporate Fınancıal Decısıons In The Context Of Behavıoral Corporate Fınance: A Lıterature Revıew. International Journal Of Economics And Administrative Studies (20), 33-50.
  • Büyüköztürk, Ş., Kılıç , E., Akgün , Ö., Karadeniz, Ş., & Demirel, F. (2014). Scientific Research Methods . Ankara : Pegem Publications.
  • Caner, A. E. (2019). Factors Affecting Investment Decisions Of Individual Investors (Master Thesis).Çağ University Institute Of Social Sciences
  • Demirci, E., & Buran Köse, Ö. (2021). Factors Affecting University Students' Tendency To Take Financial Risk: Empirical Results Of Economic, Financial And Financial Practices Cilt 2. Ankara: Gazi Publications.
  • Gül, M., Ekşi, İ., & Sürme, M. (2017). To İnvestigate Of Gold İnvestors Behaviours İn View Of Behavioural Finance: Case Of Gaziantep, Journal Of Finance Letters, 108, 143-165.
  • Güngör, S., & Demirel , E. (2018). Investor Bias İn Behavioral Finance. İstanbul : Melisa Publications.
  • Hamurcu, Ç. (2019). Does Resilience Affect Aversion Based Behavioral Finance Biases? Journal Of Accounting, Finance And Auditing Studie, 5(1), 254-269.
  • Hayta, A. (2014). Psychological Biases That İnfluence The Financial Risk Perception Of İndividual İnvestors. The Journal Of Turkish Social Research, 183(183), 329-352.
  • K Ruyter, N. S. (1998). Positioning Qualitative Market Research: Reflections From Theory And Practice. Qualitative Market Research. International Journal, 1(1), 7-14.
  • Kahraman, E., & Türkün Kaya , B. (2018). Determining The Factors Affecting The Perception Of Financial Risk, A Study At Muğla Sıtkı Koçman University.Iv. Internatıonal Caucasus- Central Asıa Foreıgn Trade And Logıstıcs Congress September,. Didim/Aydın.
  • Kahyaoğlu, M., Ülkü , S., & Gelmedi, O. (2011). Examination Of The İncrease İn The Usage Of Credit Cards Within The Frame Of Effect Of Loss Avoidance As Part Of Financialization İn Turkey Between The Years 2002 And 2010. The Dokuz Eylül University Faculty Of Business Journal, 12(1), 29-41.
  • Karagül, M. (2018). From Rational And Behavior Economy To Economy Of Values. Journal Of Mehmet Akif Ersoy University Economics And Administrative Sciences Faculty, 5(2), 425-440.
  • Kıyılar, M., & Akkaya , M. (2020). Behavioral Finance. İstanbul : Literatür Publications.
  • Korkmaz, T., & Ceylan , A. 2012. Capital Market And Securities Analysis, Bursa: Ekin Publications.
  • Kouwenberg, R., & Ziemba, W. (2007). Incentives And Risk Taking İn Hedge Funds." Journal Of Banking And Finance, 31(11), 3291-3310.
  • Miles, M., & Huberman , M. (1994). An Expanded Sourcebook Qualitative Data Analysis. Sage Publications.
  • Patton, M. (2002). Qualitative Research And Evaluation Methods. Sage Publications.
  • Silverman, D. (2013). Doing Qualitative Research. Londra: Sage Publications.
  • Tekin, B., & Cengiz , S. (2020). Are Overconfidence And Loss Aversion Biases İmportant Factors İn İnvestment Decisions. Global Journal Of Economics And Business Studies, 9(14), 38-54.
  • Tversky, A., And Kahneman, D. (1991). Loss Aversion İn Riskless Choice: A Reference-Dependent Model.The Quarterly Journal Of Economics, 106(4), 1039-1061.
  • Weber, R. (1990). Basic Content Analysis. California: Sage Publications.
  • Yıldırım, A., & Şimşek , H. (2016). Qualitative Research Methods İn The Social Sciences. Ankara : Seçkin Publications.
  • Yıldırım, H. (2017). Behavioral Finance Models Based On İnvestor Behaviors. İstanbul: Sokak Kitapları.

Year 2022, Volume: 7 Issue: 2, 405 - 420, 26.12.2022

Serpil Sumer Nazan Güngör Karyağdı

https://doi.org/10.54452/jrb.1060254

Abstract

Project Number

yok

References

  • Akın, M. (2020). Risk Avoid: Fear Of Loss. Journal Of Law And Economic Studies (HİAD), 12(1), 50-75.
  • Anbar, A., & Eker, M. (2012). Demographic And Socioeconomic Factors That Affect Financial Risk Perceptions Of İndividual İnvestors.International Journal Of Management Economics And Busines, 5(9), 129-150.
  • Bayrakdaroğlu, A., & Kuyu , E. (2018). Analysis Of Financial Risk Perceptions On Investment Decisions Of Women With Different Demographic Profiles. Journal Of Mehmet Akif Ersoy University Economics And Administrative Sciences Faculty, 5(3), 705-724.
  • Benartzi, S., & Thaler , R. (1999). Risk Aversion Or Myopia? Choices İn Repeated Gambles And Retirement Investments. Management Science, 45(3), 364-381.
  • Benartzi, S., & Thaler , T. (1995). Myopic Loss Aversion And The Equity Premium Puzzle. Quarterly Journal Of Economics., 110(1), 73-79.
  • Breuer, W., Riesener, M.,& Salzmann, A. (2014). Risk Aversion Vs. İndividualism: What Drives Risk Taking İn Household Finance? The European Journal Of Finance, 20(5), 446-462.
  • Bulut, E., & Er, B. (2017). Corporate Fınancıal Decısıons In The Context Of Behavıoral Corporate Fınance: A Lıterature Revıew. International Journal Of Economics And Administrative Studies (20), 33-50.
  • Büyüköztürk, Ş., Kılıç , E., Akgün , Ö., Karadeniz, Ş., & Demirel, F. (2014). Scientific Research Methods . Ankara : Pegem Publications.
  • Caner, A. E. (2019). Factors Affecting Investment Decisions Of Individual Investors (Master Thesis).Çağ University Institute Of Social Sciences
  • Demirci, E., & Buran Köse, Ö. (2021). Factors Affecting University Students' Tendency To Take Financial Risk: Empirical Results Of Economic, Financial And Financial Practices Cilt 2. Ankara: Gazi Publications.
  • Gül, M., Ekşi, İ., & Sürme, M. (2017). To İnvestigate Of Gold İnvestors Behaviours İn View Of Behavioural Finance: Case Of Gaziantep, Journal Of Finance Letters, 108, 143-165.
  • Güngör, S., & Demirel , E. (2018). Investor Bias İn Behavioral Finance. İstanbul : Melisa Publications.
  • Hamurcu, Ç. (2019). Does Resilience Affect Aversion Based Behavioral Finance Biases? Journal Of Accounting, Finance And Auditing Studie, 5(1), 254-269.
  • Hayta, A. (2014). Psychological Biases That İnfluence The Financial Risk Perception Of İndividual İnvestors. The Journal Of Turkish Social Research, 183(183), 329-352.
  • K Ruyter, N. S. (1998). Positioning Qualitative Market Research: Reflections From Theory And Practice. Qualitative Market Research. International Journal, 1(1), 7-14.
  • Kahraman, E., & Türkün Kaya , B. (2018). Determining The Factors Affecting The Perception Of Financial Risk, A Study At Muğla Sıtkı Koçman University.Iv. Internatıonal Caucasus- Central Asıa Foreıgn Trade And Logıstıcs Congress September,. Didim/Aydın.
  • Kahyaoğlu, M., Ülkü , S., & Gelmedi, O. (2011). Examination Of The İncrease İn The Usage Of Credit Cards Within The Frame Of Effect Of Loss Avoidance As Part Of Financialization İn Turkey Between The Years 2002 And 2010. The Dokuz Eylül University Faculty Of Business Journal, 12(1), 29-41.
  • Karagül, M. (2018). From Rational And Behavior Economy To Economy Of Values. Journal Of Mehmet Akif Ersoy University Economics And Administrative Sciences Faculty, 5(2), 425-440.
  • Kıyılar, M., & Akkaya , M. (2020). Behavioral Finance. İstanbul : Literatür Publications.
  • Korkmaz, T., & Ceylan , A. 2012. Capital Market And Securities Analysis, Bursa: Ekin Publications.
  • Kouwenberg, R., & Ziemba, W. (2007). Incentives And Risk Taking İn Hedge Funds." Journal Of Banking And Finance, 31(11), 3291-3310.
  • Miles, M., & Huberman , M. (1994). An Expanded Sourcebook Qualitative Data Analysis. Sage Publications.
  • Patton, M. (2002). Qualitative Research And Evaluation Methods. Sage Publications.
  • Silverman, D. (2013). Doing Qualitative Research. Londra: Sage Publications.
  • Tekin, B., & Cengiz , S. (2020). Are Overconfidence And Loss Aversion Biases İmportant Factors İn İnvestment Decisions. Global Journal Of Economics And Business Studies, 9(14), 38-54.
  • Tversky, A., And Kahneman, D. (1991). Loss Aversion İn Riskless Choice: A Reference-Dependent Model.The Quarterly Journal Of Economics, 106(4), 1039-1061.
  • Weber, R. (1990). Basic Content Analysis. California: Sage Publications.
  • Yıldırım, A., & Şimşek , H. (2016). Qualitative Research Methods İn The Social Sciences. Ankara : Seçkin Publications.
  • Yıldırım, H. (2017). Behavioral Finance Models Based On İnvestor Behaviors. İstanbul: Sokak Kitapları.
There are 29 citations in total.

Details

Primary Language English
Subjects Business Administration
Journal Section Articles
Authors

Serpil Sumer 0000-0001-8452-0393

Nazan Güngör Karyağdı 0000-0003-3938-4147

Project Number yok
Early Pub Date December 26, 2022
Publication Date December 26, 2022
Submission Date January 19, 2022
Acceptance Date July 20, 2022
Published in Issue Year 2022 Volume: 7 Issue: 2

Cite

APA Sumer, S., & Güngör Karyağdı, N. (2022). A STUDY ON LOSS AVOIDANCE AND RISK PERCEPTION OF GRADUATE STUDENTS STUDYING IN THE FIELD OF ACCOUNTING AND FINANCE SCIENCE: THE CASE OF ATATÜRK UNIVERSITY. Journal of Research in Business, 7(2), 405-420. https://doi.org/10.54452/jrb.1060254