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Journals / Journal of Economics Finance and Accounting / 2015 / Cilt: 2 - Sayı: 3

ANALYSIS OF RISK-TAKING BEHAVIOUR OF INDIVIDUAL PENSION SYSTEM PARTICIPANTS: THE CASE OF TURKEY

Sumeyra KARA
Yilmaz YİLDİZ
Mehmet Baha KARAN
Pages
1–1
Publication Date
2015-09-29
DOI
—
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AI Summary & Key Takeaways

AI Insight
⚡ TL;DR(Too Long; Didn't Read)

According to the findings of the analysis, it is observed that the explanatory power of the models and the significance levels of the coefficients of the independent variables differentiate among the sub groups.

📌 3 Key Takeaways

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Objective & Hypothesis:The study aims to analyze the risk-taking behavior of the individual pension system participants.
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Key Findings & Data:The age of the participants were not found as significant on the participant’s risk taking behavior.
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Conclusion & Impact:According to the findings of the analysis, it is observed that the explanatory power of the models and the significance levels of the coefficients of the independent variables differentiate among the sub groups.
🔬Design:Modeling & Simulation
📍Scope:Comprehensive Sample
⚙️Variables:Bireysel emeklilik · risk alma davranışı · Türkiye

Abstract

The study aims to analyze the risk-taking behavior of the individual pension system participants. In this context, the socio-economic factors that affect the risk taking behavior of the participants are investigated in accordance with the findings of the related literature by using the logistic regression methodology. According to the findings of the study, the duration of participation was found to be the most influential factor on the risk taking behavior of the individuals. Participants tend to invest in less risky assets as long as they stay in the system. Moreover, the participants who are male, married, do not experience a voluntary withdrawal, have a high level of education and who make higher contributions tend to direct their contributions to more risky assets. The age of the participants were not found as significant on the participant’s risk taking behavior. Moreover, the sample is divided into two according to the status of the contract (withdraw/not withdraw) and the education level of the participants (high education/low education) and the analysis is repeated for the subsamples. According to the findings of the analysis, it is observed that the explanatory power of the models and the significance levels of the coefficients of the independent variables differentiate among the sub groups.

Özet

Bu çalışmanın amacı bireysel emeklilik sisteminde yer alan katılımcıların emeklilik sistemindeki katkılarını değerlendirme aşamasında yaptıkları risk tercihlerinin incelenmesidir. Bu çerçevede katılımcıların risk alma isteklerini etkileyebilecek sosyo-ekonomik etkenler literatürde yer alan bulgular doğrultusunda lojistik regresyon yöntemi kullanarak tespit edilmeye çalışılmıştır. Yapılan analiz sonucunda katılımcıların risk alma isteklerini etkileyen en önemli faktörün, katılımcının sistemde geçirdiği süre olduğu tespit edilmiştir. Katılımcının sistemde kaldığı süre arttıkça katılımcılar daha az riskli varlıklara yönelmektedirler. Ayrıca, erkek, evli, bireysel emeklilik sistemden gönüllü olarak ayrılmayan, eğitim seviyesi ve katkı ödemesi yüksek olan katılımcıların birikimlerini daha fazla riskli yatırım araçlarına yönlendirdikleri görülmektedir. Katılımcılarının yaşlarının model için anlamlı olmadığı sonucuna ulaşılmıştır. Ayrıca, örneklem kontratın durumu (sistemden ayrılma/ayrılmama) ve katılımcının eğitim seviyesi (eğitim seviyesi yüksek/eğitim seviyesi düşük) dikkate alınarak alt gruplara ayrılmış ve analiz alt gruplar için tekrar edilmiştir. Bu analizler sonucunda modelin açıklayıcı gücünün ve değişkenlerin anlamlılık seviyelerinin alt gruplar için farklılık gösterdiği gözlenmiştir. 1.GİRİŞ

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Cite This Article

KARA, S., YİLDİZ, Y., KARAN, M. B. (2015). ANALYSIS OF RISK-TAKING BEHAVIOUR OF INDIVIDUAL PENSION SYSTEM PARTICIPANTS: THE CASE OF TURKEY. Journal of Economics Finance and Accounting, Cilt: 2 - Sayı: 3, 1–1. https://ajindex.com/articles/835505

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