Portfolio Risk Choices of Finance Sector Professionals in Turkey

29 Pages Posted: 24 Nov 2013 Last revised: 10 Dec 2013

See all articles by Belma Ozturkkal

Belma Ozturkkal

Kadir Has University Istanbul, Turkey

K. Ali Akkemik


Date Written: November 22, 2013


Asset markets in emerging markets exhibit high volatility and low liquidity. Under such circumstances, individual portfolio and trading choices become difficult. Among emerging markets, Turkey in particular has high turnover, even when compared to developed markets, and this makes it an appealing case to study the risk choices of finance sector professionals. This paper analyzes the determinants of risk choices and preferences of employees of a brokerage company and portfolio managers in this market for their own investments. We use a unique data set from a survey of 206 finance sector professionals in 2012. Specifically, we found that financial literacy, work experience, education, and confidence are positively related with wealth, and trading frequency, education, and low age tend to increase the allocation of equities in portfolio.

Keywords: Risk choices, risk, equity, financial literacy, investor, wealth, emerging markets, Turkey

JEL Classification: G11, G12

Suggested Citation

Ozturkkal, Belma and Akkemik, K. Ali, Portfolio Risk Choices of Finance Sector Professionals in Turkey (November 22, 2013). Available at SSRN: https://ssrn.com/abstract=2358443 or http://dx.doi.org/10.2139/ssrn.2358443

Belma Ozturkkal (Contact Author)

Kadir Has University Istanbul, Turkey ( email )

Kadir Has Caddesi Cibali
+90 212 533 5765 (Phone)

HOME PAGE: http://https://mgmt.khas.edu.tr/en/academic/2008

K. Ali Akkemik

Independent ( email )

No Address Available

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