Explaining the behavioral pattern of investors' decision-making in the iran's capital market

Subject Areas : Financial and Behavioral Researches in Accounting

Reza Sotudeh ¹ , alireza Hirad ² , bahareh Barahoi Pirnia ³

1 - Assistant Professor, Department of Accounting, nikshshr Branch, Islamic Azad university, nikshahr, Iran
2 - Assistant Professor, Department of Accounting, Khash Branch, Islamic Azad university, Khash, Iran.
3 - Department of Accounting, Technical and Vocational University, Tehran, Iran. PhD student, accounting.

Received: 2024-03-15 Accepted : 2024-06-02 Published : 2024-06-26

Keywords: Behavioral components, investors, decision making.,

Abstract :

Investigating and analyzing the behavioral finance of investors is one of the emerging topics in the field of financial management. The main goal of the current research is to explain the pattern and finally to rank the decision-making behavioral components of the country's capital market investors. The method of qualitative research was conducted through content analysis and interviews with 18 professional and university experts in 2023. According to the results of the research on the decision-making behavior pattern of investors in the country's capital market, it includes eight components: the tendency to measure risk, the tendency to maintain and protect capital, the tendency to search for information, the tendency to make quick decisions, the tendency to economic behavior, the tendency To group thinking, the component is the desire to change and the component is the desire to self-confidence. Also, 31 indicators were counted. Based on the results of Friedman's test, the component of willingness to measure risk ranks first, the component of willingness to maintain and protect capital ranks second, the tendency to search for information ranks third, the component of willingness to make quick decisions ranks fourth, the component of willingness to economic behavior in The fifth rank, the component of tendency to group thinking was ranked sixth, the component of tendency to change was ranked seventh, and the component of tendency to self-confidence was ranked eighth.

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