Investigating the Effect of Behavioural Finance on Retail Investors’ Stock Performance in Borsa Istanbul and Moderator Role of Psychological Capital in This Effect

Yusuf Oflaz; Ahmet Erkuş; Esra Kangal

doi:10.59372/turajas.1456601

EN TR

Investigating the Effect of Behavioural Finance on Retail Investors’ Stock Performance in Borsa Istanbul and Moderator Role of Psychological Capital in This Effect

Abstract

In this study, investigating the effect of behavioural finance on retail investors’ stock performance in Borsa Istanbul and the role of psychological capital in this effect is aimed. In this regard, a survey was conducted on 223 retail investors who make transactions in Borsa Istanbul between 31st December 2022 and 16th January 2023. In survey form, there are eleven questions on identifying participants’ demographical profile, and three scales which are Behavioural Finance Scale with 26 statements, Psychological Capital Scale with 24 statements, and Stock Performance Scale with 9 statements. For data analysis, SPSS-22 program was used. As the result of the study, it is found that behavioural finance factors have partial effect on retail investors’ stock performance, and psychological capital has a partial role in this effect.

Keywords

References

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Details

Primary Language

English

Subjects

Finance and Investment (Other)

Journal Section

Research Article

Authors

Yusuf Oflaz ^*
0000-0002-5428-1616
Türkiye

Ahmet Erkuş
0000-0003-3270-7070
Türkiye

Esra Kangal
0000-0002-9154-1149
Türkiye

Early Pub Date

July 4, 2025

Publication Date

June 30, 2025

Submission Date

March 21, 2024

Acceptance Date

April 28, 2025

Published in Issue

Year 1970 Volume: 8 Number: 1

DOI

https://doi.org/10.59372/turajas.1456601

IZ

https://izlik.org/JA89ZZ85YG

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RIS / Bibtex

APA

Oflaz, Y., Erkuş, A., & Kangal, E. (2025). Investigating the Effect of Behavioural Finance on Retail Investors’ Stock Performance in Borsa Istanbul and Moderator Role of Psychological Capital in This Effect. Turkish Research Journal of Academic Social Science, 8(1), 7-20. https://doi.org/10.59372/turajas.1456601

Investigating the Effect of Behavioural Finance on Retail Investors’ Stock Performance in Borsa Istanbul and Moderator Role of Psychological Capital in This Effect

Investigating the Effect of Behavioural Finance on Retail Investors’ Stock Performance in Borsa Istanbul and Moderator Role of Psychological Capital in This Effect

Abstract

Keywords

Borsa İstanbul'da Bireysel Yatırımcıların Hisse Performansı Üzerinde Davranışsal Finansın Etkisi ve Psikolojik Sermayenin Moderatör Rolünün İncelenmesi

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