DAVRANIŞSAL KURUMSAL FİNANS EKSENİNDE KURUMSAL FİNANSAL KARARLAR: BİR LİTERATÜR DEĞERLENDİRMESİ
Yıl: 2018 Cilt: 0 Sayı: 20 Sayfa Aralığı: 33 - 50 Metin Dili: Türkçe DOI: 10.18092/ulikidince.323871 İndeks Tarihi: 12-12-2018
DAVRANIŞSAL KURUMSAL FİNANS EKSENİNDE KURUMSAL FİNANSAL KARARLAR: BİR LİTERATÜR DEĞERLENDİRMESİ
Öz: Kurumsal finansta geleneksel bakış açısı, yöneticileri rasyonel ve beklenen faydayı artırmaya çalışan bireyler olarak değerlendirmektedir. Bu anlamda yöneticilerin kararlarında önyargısız davrandıkları varsayılmaktadır. Günümüzde ise bu yaklaşım önemli eleştirilere uğramış ve bazı bilişsel önyargıların kurumsal finansal kararlar üzerinde etkili olabileceği düşüncesi yapılan çalışmalardan elde edilen ampirik bulgularla desteklenmiştir Bu eksende ortaya çıkan davranışsal kurumsal finans, yönetici irrasyonalitesi üzerine odaklanarak, araştırmacılar için yeni ve önemli bir alana işaret etmektedir. Davranışsal kurumsal finans, kurumsal finansal kararları, geleneksel yaklaşımları göz ardı etmeden, davranışsal önyargılar üzerinden incelemektedir. Yönetici önyargıları kapsamında literatürde ağırlıklı olarak aşırı güven davranışı incelenmiş olmakla birlikte; sürü davranışı, kayıptan kaçınma ve çıpalama önyargıları da analizlere dahil edilmiştir. Araştırmalarda bu önyargıların sermaye yapısı kararları, kar payı dağıtımı, yatırım kararları ve nakit tutma politikaları üzerindeki etkileri açıklanmaya çalışılmıştır. Bir literatür değerlendirmesi olan bu çalışmanın amacı, kurumsal finansal kararlara ilişkin davranışsal önyargılar ekseninde yapılan çalışmaların sonuçlarını ortaya koyarak, gelecekte finans alanında önemli bir eksikliği gidereceği düşünülen bu konudaki araştırmaların önemine dikkat çekmektir.
Anahtar Kelime: Konular:
CORPORATE FINANCIAL DECISIONS IN THE CONTEXT OF BEHAVIORAL CORPORATE FINANCE: A LITERATURE REVIEW
Öz: Traditional perspective in corporate finance considers the managers as rational individuals who try to increase expected utility. In this sense, managers are assumed to behave unbiased in their decisions. However, recently, there is a criticism about this assumption for not taking into consideration cognitive biases for the corporate financial decisions and this criticism is supported with empirical findings that the cognitive biases can be effective on corporate financial decisions. In this context, behavioral corporate finance is emerging as a new and significant research area by focusing on managerial irrationality. Behavioral corporate finance is about corporate financial decisions with the focus of behavioral biases without ignoring the traditional approaches. In the literature, overconfidence bias is basically used; however, herding behavior, loss aversion and anchoring are also used as managerial biases. Investigations have attempted to explain the capital structure decisions of these prejudices, dividend distribution, investment decisions and the effects on cash holding policies. This work is a comprehensive literature review which aims to explain the empirical findings about how behavioral biases affect corporate financial decisions and thus to draw attention to the importancy of these works for the future researches in this area.
Anahtar Kelime: Konular:
Belge Türü: Makale Makale Türü: Araştırma Makalesi Erişim Türü: Erişime Açık
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| APA | BULUT E, ER B (2018). DAVRANIŞSAL KURUMSAL FİNANS EKSENİNDE KURUMSAL FİNANSAL KARARLAR: BİR LİTERATÜR DEĞERLENDİRMESİ. , 33 - 50. 10.18092/ulikidince.323871 |
| Chicago | BULUT ESRA,ER Bünyamin DAVRANIŞSAL KURUMSAL FİNANS EKSENİNDE KURUMSAL FİNANSAL KARARLAR: BİR LİTERATÜR DEĞERLENDİRMESİ. (2018): 33 - 50. 10.18092/ulikidince.323871 |
| MLA | BULUT ESRA,ER Bünyamin DAVRANIŞSAL KURUMSAL FİNANS EKSENİNDE KURUMSAL FİNANSAL KARARLAR: BİR LİTERATÜR DEĞERLENDİRMESİ. , 2018, ss.33 - 50. 10.18092/ulikidince.323871 |
| AMA | BULUT E,ER B DAVRANIŞSAL KURUMSAL FİNANS EKSENİNDE KURUMSAL FİNANSAL KARARLAR: BİR LİTERATÜR DEĞERLENDİRMESİ. . 2018; 33 - 50. 10.18092/ulikidince.323871 |
| Vancouver | BULUT E,ER B DAVRANIŞSAL KURUMSAL FİNANS EKSENİNDE KURUMSAL FİNANSAL KARARLAR: BİR LİTERATÜR DEĞERLENDİRMESİ. . 2018; 33 - 50. 10.18092/ulikidince.323871 |
| IEEE | BULUT E,ER B "DAVRANIŞSAL KURUMSAL FİNANS EKSENİNDE KURUMSAL FİNANSAL KARARLAR: BİR LİTERATÜR DEĞERLENDİRMESİ." , ss.33 - 50, 2018. 10.18092/ulikidince.323871 |
| ISNAD | BULUT, ESRA - ER, Bünyamin. "DAVRANIŞSAL KURUMSAL FİNANS EKSENİNDE KURUMSAL FİNANSAL KARARLAR: BİR LİTERATÜR DEĞERLENDİRMESİ". (2018), 33-50. https://doi.org/10.18092/ulikidince.323871 |
| APA | BULUT E, ER B (2018). DAVRANIŞSAL KURUMSAL FİNANS EKSENİNDE KURUMSAL FİNANSAL KARARLAR: BİR LİTERATÜR DEĞERLENDİRMESİ. Uluslararası İktisadi ve İdari İncelemeler Dergisi, 0(20), 33 - 50. 10.18092/ulikidince.323871 |
| Chicago | BULUT ESRA,ER Bünyamin DAVRANIŞSAL KURUMSAL FİNANS EKSENİNDE KURUMSAL FİNANSAL KARARLAR: BİR LİTERATÜR DEĞERLENDİRMESİ. Uluslararası İktisadi ve İdari İncelemeler Dergisi 0, no.20 (2018): 33 - 50. 10.18092/ulikidince.323871 |
| MLA | BULUT ESRA,ER Bünyamin DAVRANIŞSAL KURUMSAL FİNANS EKSENİNDE KURUMSAL FİNANSAL KARARLAR: BİR LİTERATÜR DEĞERLENDİRMESİ. Uluslararası İktisadi ve İdari İncelemeler Dergisi, vol.0, no.20, 2018, ss.33 - 50. 10.18092/ulikidince.323871 |
| AMA | BULUT E,ER B DAVRANIŞSAL KURUMSAL FİNANS EKSENİNDE KURUMSAL FİNANSAL KARARLAR: BİR LİTERATÜR DEĞERLENDİRMESİ. Uluslararası İktisadi ve İdari İncelemeler Dergisi. 2018; 0(20): 33 - 50. 10.18092/ulikidince.323871 |
| Vancouver | BULUT E,ER B DAVRANIŞSAL KURUMSAL FİNANS EKSENİNDE KURUMSAL FİNANSAL KARARLAR: BİR LİTERATÜR DEĞERLENDİRMESİ. Uluslararası İktisadi ve İdari İncelemeler Dergisi. 2018; 0(20): 33 - 50. 10.18092/ulikidince.323871 |
| IEEE | BULUT E,ER B "DAVRANIŞSAL KURUMSAL FİNANS EKSENİNDE KURUMSAL FİNANSAL KARARLAR: BİR LİTERATÜR DEĞERLENDİRMESİ." Uluslararası İktisadi ve İdari İncelemeler Dergisi, 0, ss.33 - 50, 2018. 10.18092/ulikidince.323871 |
| ISNAD | BULUT, ESRA - ER, Bünyamin. "DAVRANIŞSAL KURUMSAL FİNANS EKSENİNDE KURUMSAL FİNANSAL KARARLAR: BİR LİTERATÜR DEĞERLENDİRMESİ". Uluslararası İktisadi ve İdari İncelemeler Dergisi 20 (2018), 33-50. https://doi.org/10.18092/ulikidince.323871 |
