The Influence of the Pandemic on Financial Decisions Made by Individuals in Turkey: A Cross-Sectional Study

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dc.authorid105929en_US
dc.contributor.authorAltınbaş, Hazar
dc.date.accessioned2023-03-14T08:31:26Z
dc.date.available2023-03-14T08:31:26Z
dc.date.issued2022
dc.departmentİstanbul Beykent Üniversitesien_US
dc.description.abstractThe citizens of Turkey were confronted with the shock of the Covid-19 pandemic while struggling with high inflation and unemployment rates, and a weakening domestic currency. However, a noteworthy phenomenon during the year 2020 was the performance of stock market in Turkey, which was mostly driven by local individuals. Not only stocks, but cryptocurrencies are also popular investments favored by the populace, collectively signaling an increase in risk-taking behavior. Learning more about this point of interest is even more intriguing when considering the ongoing poor economic circumstances. In this study, the financial product decisions of individuals living in Turkey are examined for the first year of pandemic. The data were collected using an Internet survey. Information on participant’s demographics, financial product choices, declarations on changes in their interest in financial markets/ products, financial status, and net income after Covid19 was used. The results show that changes were associated with several product preferences, particu larly with cryptocurrency. The findings indicate that regulators/authorities need to understand the reasons and conditions which influence those financial deci sions and intervene if necessary because such excessive risk taking may eventually deteriorate social and financial wealth across the whole country.en_US
dc.identifier.doi10.1007/s40622-022-00328-7
dc.identifier.issn2352-3964
dc.identifier.scopusqualityQ1en_US
dc.identifier.urihttps://doi.org/10.1007/s40622-022-00328-7
dc.identifier.wosWOS:000875521400001en_US
dc.identifier.wosqualityN/Aen_US
dc.indekslendigikaynakWeb of Scienceen_US
dc.language.isoenen_US
dc.publisherSPRINGERen_US
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanıen_US
dc.subjectFinancial decision makingen_US
dc.subjectFinancial decision makingen_US
dc.subjectIndividualsen_US
dc.subjectIndividualsen_US
dc.subjectRisk-takingen_US
dc.subjectRisk-takingen_US
dc.subjectCovid-19 pandemicen_US
dc.subjectCovid-19 pandemicen_US
dc.titleThe Influence of the Pandemic on Financial Decisions Made by Individuals in Turkey: A Cross-Sectional Studyen_US
dc.typeArticleen_US

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