GENETIC APPROACH TO RISK-TAKING AND RISK AVOID BEHAVIOR

Year 2022, Volume: 36 Issue: 2, 847 - 863, 29.06.2022

Sezen Güngör

https://doi.org/10.48070/erciyesakademi.1109261

Abstract

In the science of finance and the world of investment, risk includes the probability of a threat to financial investments occurring, and the possible effects of that probability in the aftermath. As it can be understood from the definition, the literature has approached risk reactively and the risk has been handled as the effects after the risky event has occurred. However, risk-taking behavior deserves to be handled with a proactive approach, as it is a concept that has implications that are the subject of many different disciplines. Proactive handling of the risk undertaken by investors in financial markets is important in terms of showing the investor's risk acceptance limits and the factors that determine these limits. This study reveals the necessity of considering the risk-taking behavior of investors together with genetics. In this study, in which literature review was conducted, quantitative genetic methods and studies using molecular genetic methods were examined in detail. With these studies, the existence of genetic factors that can affect risk-taking behavior, which can be affected by many psychological and sociological factors such as personality, mood disorders, behaviors of the immediate environment, as well as basic demographic factors such as gender and age, has been revealed, both directly and indirectly by affecting psychological factors.

Keywords

Behavioral finance, Genoeconomics, Risk taking, Risk aversion

RİSK ALMA VE RİSKTEN KAÇINMA DAVRANIŞINA GENETİK YAKLAŞIM

Abstract

Finans biliminde ve yatırım dünyasında risk, finansal yatırımlarla ilgili bir tehdidin meydana gelme olasılığı ve devamında ise bu olasılığın muhtemel etkilerini içerir. Tanımdan da anlaşılacağı üzere şimdiye kadar literatür riske reaktif olarak yaklaşmıştır. Ayrıca geçmiş literatür incelendiğinde genellikle risk tanımlanırken riskli olay gerçekleştikten sonraki etkiler dikkate alınmıştır. Ancak risk alma davranışı, içinde çok farklı bilim dallarının konusu olan etkiler taşıyan bir kavram olduğu için proaktif bir yaklaşımla ele alınmayı hak etmektedir. Finans piyasalarında yatırımcıların üstlendikleri riskin proaktif olarak ele alınması, yatırımcının risk kabul sınırlarını ve bu sınırların hangi faktörlerce belirlendiğini göstermesi açısından önemlidir. Bu çalışma, yatırımcıların risk alma davranışlarının genetikle birlikte ele alınmasının gerekliliğini ortaya koymaktadır. Literatür incelemesinin yapıldığı bu çalışmada kantitatif genetik yöntemler ve moleküler genetik yöntemlerin kullanıldığı çalışmalar ayrıntılı şekilde incelenmiştir. Bu incelemelerle eğitim cinsiyet, yaş gibi temel demografik faktörlerin dışında kişilik, duygu durum bozuklukları, yakın çevrenin davranışları gibi psikolojik ve sosyolojik pek çok faktörden etkilenebilen risk alma davranışını hem doğrudan hem de psikolojik faktörleri etkileyerek dolaylı olarak etkileyebilen genetik faktörlerin varlığı ortaya konmuştur.

Keywords

Davranışsal finans, Genoekonomi, Risk alma, Riskten kaçınma

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