Investigation of behavioral finance tendencies of investors according to individual investor decisions: A research on managers of tourism enterprises in Muğla province

Behavioral finance has become a concept that has been frequently discussed in recent years and researched by academic circles. Understanding that behavioral tendencies are more effective in making financial decisions than in certain predictions and expectations; it has made it necessary to identify, investigate, understand the functioning of these trends and to evaluate the results of factors. It is not possible to say that the individual investors who operate in financial markets always act in a rational line. Investor decisions are not simple to confirm the assumptions of traditional finance. While investor decisions are often not based on logical foundations, they are greatly influenced by investors' psychological tendencies and prejudices. Sometimes psychological and personality factors, and sometimes social factors with which the individual interacts can have an impact on the investment decisions of individuals. Behavioral finance is an area that examines the decisions of individual investors and the impact of these decisions on financial events where rationality is limited and has gained importance in recent years. Purpose of the research; to determine whether behavioral financing tendencies of investors differ significantly according to their individual investment preferences. For the research, the managers of the travel agencies, one, two, three, four and five star hotels and boutique hotels operating in the tourism sector in Muğla were selected. The reason why the tourism sector is chosen as the study area is that the determination of the current and future behavioral trends of the individual investments of the managers employed in the tourism sector and predicting the relationship between these trends and financial decisions are very important for the tourism sector and the national economy. In this context, a survey was conducted with the managers of tourism enterprises. Data were collected from 548 managers who answered this questionnaire completely. In this study, sociodemographic characteristics of individual investors, investment time, information sources used when investing, investment preferences, periodic reviews of their investments and the factors that are taken into consideration were analyzed and the findings were analyzed. According to this; There are significant differences between behavioral finance dimensions and information sources utilized, factors that are taken into consideration while investing, income status, frequency of investments review and annual share of income. When the findings obtained at the end of the study are evaluated, it is expected that this study will contribute to the literature and future studies.