Investigating the mediating role of risk perception in the influence of financial-behavioral factors on investment decisions
Subject Areas : Financial and Behavioral Researches in Accountingfatemeh samadi 1 , atefeh abozar 2
1 - Islamic Azad University Tehran shargh
2 - department of mangement,shargh azad university ,tehran,iran
Keywords: risk perception, financial-behavioral factors, investment decisions,
Abstract :
The aim of this study was to investigate the mediating role of risk perception in the influence of financial-behavioral factors on investment decisions. The statistical population of this research includes individual investors in Tehran Stock Exchange. The people in question must have been shareholders from the second half of 1402 to the first half of 1403 in order to be able to provide an answer in connection with the one-year return, and secondly, they must be active shareholders, which means that they buy and sell shares at least 2 times in a year. In this way, using a simple random sampling method, they were selected from among the people who had invested in the stock exchange of Iran. Based on Cochran's formula for the unlimited statistical population, 385 of these people were selected by random sampling. The library study method was used to collect the theoretical foundations and background of the research, then the field method was used to collect the data. The obtained results showed that behavioral financial factors can explain 63% of changes in investment decisions in a positive and meaningful way, and also behavioral financial factors can explain 63% of changes in investment decisions in a positive and meaningful way. Finally, investment risk can explain 65% of changes in investment decisions in a positive and meaningful way; In examining the mediating variable, the results showed that investment risk (risk perception) mediates the effect of financial-behavioral factors on investment decisions.
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