Presenting and explaining the model of the role of behavioral characteristics and financial literacy of real investors on their financial management components in the Iranian capital market

Subject Areas : Financial Accounting

RouhAllah gheysari ¹ , Allah Karam Salehi ² , Soghra Ghobadi ³

1 - Department of Accounting, Khorramshahr International, Islamic Azad University, Khorramshahr, Iran
2 - Department of Accounting, Masjed Soleiman Branch, Islamic Azad University, Masjed Soleiman, Iran.
3 - Department of Economics, Ahvaz Branch, Islamic Azad University, Ahvaz, Iran

Received: 2020-10-24 Accepted : 2022-05-31 Published : 2023-09-01

Keywords: financial literacy, financial management behavior, real investors, Behavioral Characteristics,

Abstract :

The purpose of this study is to present and explain the paradigm model of the role of behavioral characteristics and financial literacy of real investors on the components of their financial management behavior in the Iranian capital market. For this purpose, a 77-item questionnaire derived from qualitative studies using grounded theory method was used. The chi-square value of the model is equal to 3946.370, the degree of freedom of the model is equal to 2174, the result of which is equal to 1.815, and the fit indices of the original model are all in an acceptable and appropriate level. Behavioral characteristics and financial literacy can predict financial management behavior and help real investors analyze stock market trends before making a decision, which leads to investment profitability, financial security and capital satisfaction.

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