Cultural influence on investment decisions of invidual investors in terms of behavioral finance: An application in the provinces Isparta and Burdur

This study examines whether the social and psychological trends affecting financial decisions of individual investors in the context of behavioral finance actually exist in individual investors in Isparta and Burdur, how individual preferences change in risky situations and whether individual investors within the context of Hofstede's cultural dimensions are culturally influenced in the financial investment decision-making process. The theory part of the work was compiled from domestic and foreign sources. In the application part of the study, a survey study was conducted in order to determine the investment preferences of the individuals in accordance with the purpose of the study and the financial literacy levels, risk preferences, cognitive and emotional tendencies of the individual investors in Isparta and Burdur provinces and the effect of the culturian on the investment preferences were tried to be evaluated. As a result of the research, it has been seen that the individual investors living in Isparta and Burdur provinces are not influenced by rational investor behaviors in investment decision making processes and they are influenced to a great extent by the investor tendencies and these tendencies are related to the investor's closeness to cultural dimensions. It is important to note that investors are more likely to be overly optimistic in the financial decision phase, overtly optimistic, preferring familiarity, regretting and avoiding losses and avoiding risky preferences, and these trends and Hofstede's distance from the cultural dimensions of power distance, uncertainty avoidance, individualism, statistically significant and positive relationship was found.