The Determinants of Equity Home Bias in Turkey

Basit Öğe Kaydı
dc.contributor.authorİnandı, Arzu Şahin
dc.contributor.authorDoğukanlı, Hatice
dc.contributor.authorŞengül, Seda Hilal
dc.date.accessioned2025-01-06T17:22:58Z
dc.date.available2025-01-06T17:22:58Z
dc.date.issued2016
dc.departmentAdana Alparslan Türkeş Bilim ve Teknoloji Üniversitesi
dc.description.abstractThe aim of this research is to analyze the determinants of the equity home bias for Turkish investors. In this context, the roles of exchange rate risk, direct costs, familiarity, cultural factors, corporate governance, stock market characteristics and economic features as factors causing homes bias were examined for 20 target countries invested in between 2001 and 2010. Panel Regression Analysis is employed to examine the impact of seven factors proxies by 15 variables on the dependent variable, equity home bias, calculated using International Capital Asset Pricing Model as a benchmark. Analysis results suggest that main determinants of Turkish investors’ home bias in international equity investments are familiarity and cultural factors. Turkish investors prefer to allocate their stock investment in countries that are familiar and culturally close even if these markets are deprived of the possibility of diversification, geographically distant and frontier markets with weak corporate governance. These findings reveal that Turkish investors tend to be affected by behavioral factors rather than institutional factors in international equity investments.
dc.identifier.doi10.25095/mufad.396730
dc.identifier.endpage186
dc.identifier.issn2146-3042
dc.identifier.issue72
dc.identifier.startpage163
dc.identifier.trdizinid392112
dc.identifier.urihttps://doi.org/10.25095/mufad.396730
dc.identifier.urihttps://search.trdizin.gov.tr/tr/yayin/detay/392112
dc.identifier.urihttps://hdl.handle.net/20.500.14669/583
dc.identifier.volume0
dc.indekslendigikaynakTR-Dizin
dc.language.isoen
dc.relation.ispartofMuhasebe ve Finansman Dergisi
dc.relation.publicationcategoryMakale - Ulusal Hakemli Dergi - Kurum Öğretim Elemanı
dc.rightsinfo:eu-repo/semantics/openAccess
dc.snmzKA_20241211
dc.subjectİktisat
dc.subjectİşletme Finans
dc.titleThe Determinants of Equity Home Bias in Turkey
dc.typeArticle

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