Behavioral Biases of Finance Professionals: Turkish Evidence

dc.contributor.author Kiymaz, Halil
dc.contributor.author Kiymaz, Halil
dc.contributor.author Öztürkkal, Belma
dc.contributor.author Akkemik, Küçük Ali
dc.contributor.author Akkemik, K. Ali
dc.contributor.author Öztürkkal, Ayşe Belma
dc.contributor.other Economics
dc.contributor.other International Trade and Finance
dc.contributor.other Business Administration
dc.date.accessioned 2019-06-27T08:01:36Z
dc.date.available 2019-06-27T08:01:36Z
dc.date.issued 2016
dc.department Fakülteler, İşletme Fakültesi, Uluslararası Ticaret ve Finans Bölümü en_US
dc.description.abstract This study extends the existing literature on the determinants of behavioral biases of Turkish finance sector professionals. It examines the impact of various personal and objective attributes of finance sector professionals on their risk choices derived from their portfolio allocation and personal wealth data. Utilizing survey data from 206 professionals we find that these professionals take higher risk in the form of investment in equities when investing in home country firms (geographic bias) and investing in firms headquartered in their home towns (home bias). Those relying on their own predictions when making investment decisions and those with emotional biases invest less in equities. Findings further show that younger professionals professional with less education with lower risk aversion and with single broker accounts are more likely to invest in equities. We also find that those with higher expected returns invest more in equities showing overconfidence. Subsample analysis results for finance professionals suggest that portfolio managers and brokerage company professionals display differing risk taking behavior. (C) 2016 Elsevier B.V. All rights reserved. en_US]
dc.identifier.citationcount 11
dc.identifier.doi 10.1016/j.jbef.2016.10.001 en_US
dc.identifier.endpage 111
dc.identifier.issn 2214-6350 en_US
dc.identifier.issn 2214-6369 en_US
dc.identifier.issn 2214-6350
dc.identifier.issn 2214-6369
dc.identifier.scopus 2-s2.0-84994589330 en_US
dc.identifier.scopusquality Q1
dc.identifier.startpage 101 en_US
dc.identifier.uri https://hdl.handle.net/20.500.12469/419
dc.identifier.uri https://doi.org/10.1016/j.jbef.2016.10.001
dc.identifier.volume 12 en_US
dc.identifier.wos WOS:000391020600009 en_US
dc.institutionauthor Kiymaz, Halil en_US
dc.institutionauthor Öztürkkal, Belma en_US
dc.institutionauthor Akkemik, K. Ali en_US
dc.language.iso en en_US
dc.publisher Elsevier Science Bv en_US
dc.relation.journal Journal of Behavioral and Experimental Finance en_US
dc.relation.publicationcategory Makale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanı en_US
dc.rights info:eu-repo/semantics/closedAccess en_US
dc.scopus.citedbyCount 16
dc.subject Behavioral Biases en_US
dc.subject Risk en_US
dc.subject Equity en_US
dc.subject Financial Literacy en_US
dc.subject Investor en_US
dc.title Behavioral Biases of Finance Professionals: Turkish Evidence en_US
dc.type Article en_US
dc.wos.citedbyCount 13
dspace.entity.type Publication
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