Reactions of dissatisfied investors: Exit, voice or loyalty

被引：2
作者：
Tasci M. [1 ,2 ]
Ozdemir O. [1 ,3 ]
机构：
[1] Middle East Technical University, Ankara
[2] Capital Markets Board of Turkey, Eskisehir Yolu 8.km, Ankara
[3] Department of Business Administration, Middle East Technical University, Ankara
来源：
Journal of Financial Services Marketing | 2017年 / 22卷 / 3期
关键词：
Dissatisfaction; Exit; Individual investor; Loyalty; Voice;
D O I：
10.1057/s41264-017-0027-4
中图分类号：
学科分类号：
摘要：
This study examines the reactions of individual investors that have invested in the stocks of companies that have been eventually delisted from the stock market due to bankruptcy and/or bad governance. Data to determine reaction styles of investors are collected through a well-established questionnaire to a sample of 67 investors of Borsa Istanbul. Multinomial logistic regression analysis concludes that investors' perceived knowledge about the stock market is the most important factor affecting how investors react. More specifically, the higher the knowledge perceived, the higher the tendency of the investors to keep investing (loyalty) as the reaction. Further, more experienced investors are found to complain/ask for their rights (voice) more. © 2017 Macmillan Publishers Ltd.
引用
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页码：109 / 118
页数：9
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