Contemporary Issues in Behavioral Finance

Dr. Simon Grima (PhD) is the Head of the Insurance Department and a Senior Lecturer at the University of Malta. He served as the President of the Malta Association of Risk Management (MARM) and Malta Association of Compliance, and has over 25 years of experience in in Financial Services, Internal Controls, Investments and IT. Dr. Ercan Özen (PhD) is an Associate Professor of Finance in the Department of Banking and Finance, University of Uşak, Turkey. He is chair of the International Applied Social Sciences Congress, a certified accountant, and a member of both the Agean Finance Association and TEMA (Turkey Combating Soil Erosion, for Reforestation and the Protection of Natural Resources Foundation). Dr. Hakan Boz (PhD) is an Assistant Professor at the University of Uşak's School of Applied Sciences, in Turkey. Prior to joining academia he has held various positions in the tourism and hospitality sector, and now carries out research to better understand consumer and employee behavior in those sectors. Dr. Jonathan Spiteri (PhD) is a Resident Academic within the Department of Insurance at the University of Malta. With experience in both the private sector and in academia, he is currently involved in the R2Pi Horizon 2020 project, which examines Circular Economy models in Europe. Dr. Eleftherios I. Thalassinos (PhD) is a Jean Monnet Chair Professor at the University of Piraeus, Greece. He is the Editor-in-Chief of ERSj, IJEBA, and Chair of ICABE.

Drawn from the International Applied Social Science Congress, held in Turkey in April 2018, the 17 chapters in this volume explore issues in behavioral finance. Contributors working in business, economics, marketing, and other fields at universities in Europe and Egypt discuss the relationship between risk and control in consumer behavior, the use of machine learning techniques for predicting future states of economy data, volatility spillover between the BIST100 Index and the S&P500 Index, brand reputation and its influence on consumer behavior, augmented reality applications from the perspectives of brand trust and the purchase intentions of customers, women's cooperatives as a tool of employment policy in Turkey, the impact of financial literacy on cognitive biases of individual investors, retirement planning, consumer cash and cashless payments in Poland, and marketing communications and experiential marketing in the context of augmented reality. Others consider the relationship between exports, imports, and the exchange rate; herd behavior on the Borsa Istanbul exchange; factors affecting internet banking preferences and the relation to demographic characteristics in Turkey; cognitive biases in the Turkish version of Who Wants to Be a Millionaire; herd behavior and its effects on the purchasing behavior of investors; factors involved in retirement planning by Maltese nationals; and how government governance helps world stock market development.

• 1. Risk and Control in Consumer Behavior: A Discussion; Erdoğan Koç, Çağatan Taşkın and Hakan Boz 2. Using Artificial Intelligence Techniques for Economic Time Series Prediction; Utku Kose 3. Volatility Spillovers Between BIST100 Index and S&P500 Index; Letife Özdemir and Serap Vurur 4. Brand Reputation and its Influence on Consumers' Behavior; Marica Mazurek 5. An Investigation of Augmented Reality Applications from the Perspectives of Brand Trust and Purchase Intentions of Customers; Bilsen Bilgili, Emrah Özkul, Erdoğan Koç, Mehmet Oğuz Ademoğlu 6. Women’s Cooperatives as a Tool of Employment Policy in Turkey; Duygu Kizildağ 7. The Impact of Financial Literacy on Cognitive Biases of Individual Investors; Ercan Özen and Gürsel Ersoy 8. Retirement Planning: A Literature Review; Sara Pavia 9. A Comparative Survey Over Time Between Cash and Cashless Payments in Poland; Beata Świecka 10. Marketing Communications and Experiential Marketing in the Context of Augmented Reality; Songül Bilgili Sülük and Kenan Aydin 11. Exports, Imports, and the Exchange Rate: A Causality Analysis for Turkey (2004-2017); Erdoğan Kotil 12. Herd Behavior in Terms of Behavioral Finance and a Study on the Borsa Istanbul; Reyhan Can and Hatice Isin Dizdarlar 13. Factors Affecting Internet Banking Preferences and their Relation to Demographic Characteristics; Eser Yeşildağ 14. Who Wants to be a Millionare?: A Behavioral Economy Analysis; Ekrem Tufan, Burcu Engin, Yonca İmer and Merve Aycan 15. Herd Behavior and its Effects on the Purchasing Behavior of Investors; Çağatay Başarir and Özer Yilmaz 16. Retirement Planning by Maltese Nationals: A Study of Influential Factors; Sara Pavia  17. How Does Governance Help World Stock Market Development?; Tarek Eldomiatv, Rasha Hammam, Yasmine Hanv Saeed, and Alaa Safwat