The relationship between investment decisions and personality traits: An evaluation in terms of socio-demographic characteristics

This study examines the relationships between personality traits, behavioral finance tendencies and socio-demographic factors that affect individuals' investment decisions. The study aims to understand the main factors affecting the financial preferences of investors in Turkey and to contribute to the literature in this field. The results of the study reveal that personality traits play a decisive role in investment decisions. In particular, it is found that the personality dimension of "novelty seeking" leads investors to more risky and innovative strategies, whereas traits such as "loss aversion" lead to a more cautious and conservative investment behavior. The fact that the effect of demographic variables (age, gender, education and income) on investment decisions is not statistically significant indicates that these factors have a more limited effect compared to individual psychological characteristics. The study highlights the need to personalize financial advisory processes based on personality traits and to develop training programs that focus on behavioral finance tendencies. The findings suggest strategies that can be implemented at both individual and sectoral levels to help investors make more informed decisions.