Evaluation of Factors Determining Securities Investment Preferences of Individual Portfolio Managers by Analytical Hierarchy Process (AHP)

Abstract

In order to increase the investment level in the country, the savings must be channeled into investment correctly. The factors affecting the investment preferences of individual portfolio managers should be analyzed from an objective point of view and individual investors should be guided in order to increase investment in the economy of the country we are in. In this study, it is aimed to determine the factors that determine the investment preferences of individual portfolio managers and to determine the order of importance of these factors. In the study, the Analytical Hierarchy Process (AHP) method, which is one of the multi-criteria decision-making methods, was used. The main body of the research consists of individual portfolio managers working in banks in Kayseri. Data were obtained from seven individual portfolio managers randomly selected in April 2021. Analyzes were made using the Expert Choice 11 program for the research findings. According to the results of the research, the criterion with the highest weight among the main criteria affecting the investment preferences of individual portfolio managers was the "general state of the economy" criterion with 59.5%. The criterion with the highest weight among the sub-criteria was the criterion of “institutionalization facilitating investment” with 28.2%