Yatırımcı Davranışlarının Demografik Özellikler Bakımından Değerlendirilmesi
An Evaluation of Investor Behavior in Terms of Demographic Characteristics

Summary/Abstract: The primary aim of this study is to determine whether investor behaviors differ in terms of demographic characteristics within the framework of the Technology Acceptance Model (TAM) and Behavioral Economics Approaches (BEA), and to compare the findings between these two models. In this context, a survey was conducted with 600 investors residing in Turkey, and the data obtained were analyzed according to gender and income variables. The findings indicate that, within the TAM framework, the factors of attitude, intention, perceived ease of use, perceived usefulness, trust, and risk differ significantly by gender, whereas no significant difference was observed for the privacy variable. In terms of income level, all TAM factors exhibited significant differences. Within the scope of the BEA model, overconfidence, framing, and conservatism tendencies differed significantly by gender, while familiarity, availability, and herding behavior showed no significant variation. Regarding income, significant differences were found in overconfidence, familiarity, and framing effects, whereas availability, herding, and conservatism tendencies did not differ significantly. Overall, the results reveal that the explanatory power of TAM factors regarding demographic differences is higher compared to BEA factors.

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