Effects Of Expectations And Confidence Indices On Financial Markets
Journal Title: Muhasebe ve Finansman Dergisi - Year 2017, Vol 19, Issue 0
Abstract
Financial markets, financial decisions and risk, as well as the way in which stock prices and returns are estimated, are the most researched topics in financial literature. There are many economics and financial theories developed, discussed and modelled in the literature. An important part of these theories and models is assessing psychological factors, which affect investors and financial decisions. The study of Kahneman and Tversky (1979) showed that the psychology of investors affects stock prices. One of the first finance theories and models, also known as the traditional finance theory, states that the investors are rational and markets are efficient. On the other hand, the second one known as behavioral finance theory, states that markets are not efficient and investors are irrational, implying that psychological and emotional characteristics of investors effect investors’ decisions. This study firstly deals with anomalies in financial markets, rumors, decision making under uncertainty, investor psychology, investor sentiment, herd psychology and consumer confidence. Then it examines the investor sensitivity and the effects of consumer confidence on financial markets. Finally it analyzes the effect of consumer confidence indices on financial markets. As a result from this research, stock prices are expected to be influenced by consumer expectations and investor sentiment.
Authors and Affiliations
Semra T. Altuntaş, Vedat Sarikovanlik, Nertil Mera
Keywords
Related Articles
- EP ID EP283451
- DOI 10.25095/mufad.402673
- Views 95
- Downloads 0
İşletme Grupları Ve Sermaye Yapısı İlişkisi
Dünyada pek çok ülkede var olan işletme gruplarının oluşum ve yaygınlık nedenleri pek çok akademisyenin ilgisini çekmiştir. İşletme gruplarının oluşumunda temel nedenler piyasa kusurları ve bilgi sorunlarını önlemek, piy...
Türkiye’de Denetim Beklenti Boşluğu
Bu çalışmada, Türkiye’de denetçilerle denetim hizmetinden yararlananlar arasında denetim beklenti boşluğunun varlığı incelenmiştir. Denetim beklenti boşluğunun tespitinde bankacılar ve yatırım analistleri temel gruplar...
Relationship Between Economic Growth and Sector Based Credits Loaned by Banks in Turkey : (1999-2011)
Banks have a really remarkable position In Turkey's financial structure. Banks have significant tasks in both accomodation and evaluation of the fonds needed by the market, and operation of the market in a healthy way. T...
İşletmelerin Dupont Karlılık Analiziyle Performansının Belirlenmesi: Borsa İstanbul İmalat Sektörü Örneği
İşletmelerin performanslarının bir göstergesi olan finansal tabloların amacı, ekonomik karar veren finansal tablo kullanıcılarının (yöneticiler, yatırımcılar, borç verenler, devlet vs.) yararlanmaları için işletmenin fin...
A Study at Istanbul Stock Exchange Concerning the Impact of Enterprise Resource Planning on the Accounting Process
In this study, the major aim is to study the impact of Enterprise Resource Planning Systems on the accounting process. In that way, a number of polls have been performed including some firms whose shares traded at Istanb...