The Investment Behavior of Employees in Insurance Sector in Turkey: A Survey Evidence

Oktayer A., Özkoçak G.

International Congress on Multidisciplinary Social Sciences, Ankara, Turkey, 7 - 10 May 2019, pp.124-133

  • Publication Type: Conference Paper / Full Text
  • City: Ankara
  • Country: Turkey
  • Page Numbers: pp.124-133
  • Yıldız Technical University Affiliated: Yes


In recent years, Behavioral Finance Theory has been developed in order to show that people have different characteristics than it is assumed and that the behaviors of investors can differ from each other because each individual does not have the same rational behaviors. According to the Theory of Behavioral Finance, people do not act rationally and cannot always make optimum decisions. People can make different decisions and make mistakes under various factors such as their moods, psychologies and living conditions, and with this situation, they can cause falls or increases to different movements in the markets from time to time. One of the most important differences in human characteristics is the personality, so it is concluded that the personality traits can have an effect on the decisions taken in the behavioral finance. In this study, it is aimed to reveal the behavioral finance dimension of investment decisions in insurance sector employees. The sample of the study consisted of 384 participants working in various insurance companies in Istanbul. In order to collect the research data, personal information form and investment information, along with the Temperament and Character Characteristics Scale and Investment Decisions Scale were used. The data were analyzed by using descriptive statistics, correlation, regression, t-test and ANOVA analysis and by running SPSS 23.00. The results were evaluated at 95% confidence interval and 5% significance level. The findings of the study reveal that the investment decisions of the participants differ according to their demographic characteristics and investment preferences.