The effect of behavioral finance on personal investment preferences

The aim of this research is to reveal the effect of behavioral finance on personal investment preferences. Quantitative research design was used in the research and it is a survey model study. The sample of the study consisted of 406 people in total. Face-to-face interviews were conducted with 150 people in the provinces of Manisa, İzmir, Bursa and Istanbul. Data were collected with the remaining 256 people using the online survey technique. Personal information form prepared by the researcher and behavioral finance scale developed by Hamurcu (2015) were used as data collection tools. Frequency analysis was applied to the questions about the demographic data and working status of the participants, and the distribution of the data was presented in the tables as "n" and "%". Afterwards, the mean and standard deviations of the expressions of the Behavioral Finance Tendency scales used in the research were evaluated. The reliability of the scales used; It was evaluated with Cronbach's Alpha coefficient. Significance tests were used to analyze whether the Behavioral Finance Tendency scales differed according to demographic data. Before deciding which analysis to use, whether the data fit the normal distribution was evaluated by Kolmogorov-Smirnov and Shapiro-Wilk tests. Data that do not conform to the normal distribution; Mann Whitney U test in pairwise comparisons for analysis, and in comparison of two or more variables; Kruskal-Wallis H test was used. Pairwise comparisons were made with the Mann Whitney U test to determine between which groups there was a significant difference in the analysis. The relationship between the scales was evaluated with the Spearman correlation test. SPSS v23 statistical program was used in the analysis of the research. When evaluated according to the factors taken as a basis while investing, the investment blindness effect of those who took interest rates and the tips received was found to be higher than other groups. Those who are based on political stability and analysis methods have a low investment blindness effect compared to others; those who rely on brokerage house guidance, tips and analysis methods have a higher passion for winning effect compared to other groups; It has been determined that those who take political power, economic stability, interest rates and the tips taken as the basis have higher conservatism effects in the decisions.