SOCIAL DETERMINANTS OF HOUSEHOLD FINANCIAL ASSET CHOICE

Year 2024, Issue: 43, 91 - 108, 05.05.2024

Behice Canatan , Gökhan Özbilge , Egemen İpek

https://doi.org/10.18092/ulikidince.1416671

Abstract

This study investigates the possible effects of social factors and attitudes towards risk, including financial specialists, media, politicians, religious/spiritual opinion leaders, and business circles, on individuals' preferences for selected traditional, risky, and innovative financial assets. The concrete outputs of the study obtained with the help of the logit model are based on the micro data set of the 2019 Household Financial Perception and Attitude Survey published by the Finance Office of the Presidency of Türkiye. The findings confirm that increases in individuals' attitudes towards risk will increase the probability of choosing risky and innovative assets and diversified portfolio compositions with these assets. On the other hand, individuals' financial asset choices are significantly influenced by social/environmental factors. More strikingly, it should be emphasized that among these factors, the positive effects of financial professionals are lower than those of the business environment, religious/spiritual opinion leaders, and the media. It is essential to carefully monitor the effects of media and religious/opinion leaders, especially when shifting to riskier assets and their combinations in terms of financial assets, in order to formulate policy recommendations.

Keywords

Household, Financial Assets Choice, Attitude Towards Risk, Social Background, Logit

HANEHALKI FİNANSAL VARLIK SEÇİMİNİN SOSYAL BELİRLEYİCİLERİ

Abstract

Bu çalışmanın amacı, bireylerin finans uzmanları, medya, siyasetçiler, dini/manevi kanaat önderleri ve iş çevrelerinden oluşan sosyal faktörleri ile riske karşı tutumlarının, seçili geleneksel, riskli ve yenilikçi finansal varlık tercihleri üzerindeki muhtemel etkilerini araştırmaktır. Çalışmanın Türkiye örneklemi için logit model yardımıyla elde edilen somut çıktıları, Cumhurbaşkanlığı Finans Ofisi tarafından yayınlanan 2019 yılı Hanehalkı Finansal Algı ve Tutum Araştırması mikro veri setine dayanmaktadır. Elde edilen bulgular, bireylerin riske karşı tutumlarında meydana gelen artışın hem riskli ve yenilikçi varlıkların hem de bu varlıklarla çeşitlendirilen portföy bileşimlerinin tercih edilme olasılığını artıracağını doğrulamaktadır. Diğer yandan bireylerin finansal varlık seçimlerinin önemli ölçüde sosyal/çevresel faktörlerden etkilendiği anlaşılmaktadır. Daha çarpıcı olarak vurgulanması gereken, bu faktörlerden finans uzmanlarının pozitif etkilerinin iş çevresi, dini/manevi kanaat önderleri ve medyanın etkilerinden daha düşük oluşudur. Özellikle finansal varlıklar açısından daha riskli varlıklara ve bunların bileşimlerine geçildiğinde artan medya ve dini/kanaat önderlerine ait etkilerin dikkatle izlenmesi konuyla ilgili oluşturulabilecek politika önerileri açısından önem arz etmektedir.

Keywords

Hanehalkı, Finansal Varlık Seçimi, Riske Karşı Tutum, Sosyal Arka Plan, Logit

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