Evaluation and Classification of Behavioral Biases According to Thinking Styles, Risky Investment Intention, and Subjective Financial Literacy

Aren, Selim; NAYMAN HAMAMCI, Hatice

doi:10.26650/ibr.2023.52.961368

Evaluation and Classification of Behavioral Biases According to Thinking Styles, Risky Investment Intention, and Subjective Financial Literacy

Selim AREN, (Yıldız Teknik Üniversitesi İktisadi ve İdari Bilimler Fakültesi Anabilim Dalı İşletme Fakültesi, İstanbul, Türkiye)

Hatice NAYMAN HAMAMCI (Yıldız Teknik Üniversitesi, İktisadi ve İdari Bilimler Fakültesi, Fen Bilimleri Bölümü İşletme, İstanbul, Türkiye)

Istanbul business research

6 0

Yıl: 2023 Cilt: 52 Sayı: 1 Sayfa Aralığı: 133 - 160 Metin Dili: İngilizce DOI: 10.26650/ibr.2023.52.961368 İndeks Tarihi: 04-06-2023

Evaluation and Classification of Behavioral Biases According to Thinking Styles, Risky Investment Intention, and Subjective Financial Literacy

Öz:

The main purpose of this study is to classify the 20 biases into different groups (factors) and estimate each of them according to the variables of rational, experiential-affective, risky investment intention, and financial literacy. Behavioral finance, which combines the concepts and approaches of psychology with the theory of finance, evaluates individuals’ deviations from rational choices in their financial decisions with the concept of biases. In this context, the data were collected from 1188 subjects in Turkey through online surveys using a convenience sampling method between 14 May - 28 June 2020. Participants were gender-balanced, young, single, and highly educated. An exploratory factor analysis, ANOVA, an independent sample T-test, and a correlation analysis were performed using SPSS. In addition, a confirmatory factor analysis was performed using structural equation modeling. According to the results, these 20 biases were grouped into four groups according to the variables of thinking style, risky investment intention, and subjective financial literacy level. It was determined how both these four groups and individual biases differ according to thinking styles, risky investment intention and their levels of subjective financial literacy. In addition, it was also investigated whether both bias groups and other variables differed according to four demographic variables.

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Belge Türü: Makale Makale Türü: Araştırma Makalesi Erişim Türü: Erişime Açık

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APA	Aren S, NAYMAN HAMAMCI H (2023). Evaluation and Classification of Behavioral Biases According to Thinking Styles, Risky Investment Intention, and Subjective Financial Literacy. , 133 - 160. 10.26650/ibr.2023.52.961368
Chicago	Aren Selim,NAYMAN HAMAMCI Hatice Evaluation and Classification of Behavioral Biases According to Thinking Styles, Risky Investment Intention, and Subjective Financial Literacy. (2023): 133 - 160. 10.26650/ibr.2023.52.961368
MLA	Aren Selim,NAYMAN HAMAMCI Hatice Evaluation and Classification of Behavioral Biases According to Thinking Styles, Risky Investment Intention, and Subjective Financial Literacy. , 2023, ss.133 - 160. 10.26650/ibr.2023.52.961368
AMA	Aren S,NAYMAN HAMAMCI H Evaluation and Classification of Behavioral Biases According to Thinking Styles, Risky Investment Intention, and Subjective Financial Literacy. . 2023; 133 - 160. 10.26650/ibr.2023.52.961368
Vancouver	Aren S,NAYMAN HAMAMCI H Evaluation and Classification of Behavioral Biases According to Thinking Styles, Risky Investment Intention, and Subjective Financial Literacy. . 2023; 133 - 160. 10.26650/ibr.2023.52.961368
IEEE	Aren S,NAYMAN HAMAMCI H "Evaluation and Classification of Behavioral Biases According to Thinking Styles, Risky Investment Intention, and Subjective Financial Literacy." , ss.133 - 160, 2023. 10.26650/ibr.2023.52.961368
ISNAD	Aren, Selim - NAYMAN HAMAMCI, Hatice. "Evaluation and Classification of Behavioral Biases According to Thinking Styles, Risky Investment Intention, and Subjective Financial Literacy". (2023), 133-160. https://doi.org/10.26650/ibr.2023.52.961368

APA	Aren S, NAYMAN HAMAMCI H (2023). Evaluation and Classification of Behavioral Biases According to Thinking Styles, Risky Investment Intention, and Subjective Financial Literacy. Istanbul business research, 52(1), 133 - 160. 10.26650/ibr.2023.52.961368
Chicago	Aren Selim,NAYMAN HAMAMCI Hatice Evaluation and Classification of Behavioral Biases According to Thinking Styles, Risky Investment Intention, and Subjective Financial Literacy. Istanbul business research 52, no.1 (2023): 133 - 160. 10.26650/ibr.2023.52.961368
MLA	Aren Selim,NAYMAN HAMAMCI Hatice Evaluation and Classification of Behavioral Biases According to Thinking Styles, Risky Investment Intention, and Subjective Financial Literacy. Istanbul business research, vol.52, no.1, 2023, ss.133 - 160. 10.26650/ibr.2023.52.961368
AMA	Aren S,NAYMAN HAMAMCI H Evaluation and Classification of Behavioral Biases According to Thinking Styles, Risky Investment Intention, and Subjective Financial Literacy. Istanbul business research. 2023; 52(1): 133 - 160. 10.26650/ibr.2023.52.961368
Vancouver	Aren S,NAYMAN HAMAMCI H Evaluation and Classification of Behavioral Biases According to Thinking Styles, Risky Investment Intention, and Subjective Financial Literacy. Istanbul business research. 2023; 52(1): 133 - 160. 10.26650/ibr.2023.52.961368
IEEE	Aren S,NAYMAN HAMAMCI H "Evaluation and Classification of Behavioral Biases According to Thinking Styles, Risky Investment Intention, and Subjective Financial Literacy." Istanbul business research, 52, ss.133 - 160, 2023. 10.26650/ibr.2023.52.961368
ISNAD	Aren, Selim - NAYMAN HAMAMCI, Hatice. "Evaluation and Classification of Behavioral Biases According to Thinking Styles, Risky Investment Intention, and Subjective Financial Literacy". Istanbul business research 52/1 (2023), 133-160. https://doi.org/10.26650/ibr.2023.52.961368