The impact of psychological characteristics of the workplace on investment development and financial value creation. A case study of banking holding companies
Subject Areas :Zahra Esmi 1 , Ahmad Darestani Farahani 2
1 - Department of Financial Management & accounting, ST.C., Islamic Azad University, Tehran, Iran
2 - Department of Financial Management & accounting, ST.C., Islamic Azad University, Tehran, Iran
Keywords: Psychological Workplace Characteristics, Investment Development, Financial Value Creation,
Abstract :
This study aimed to investigate the impact of psychological workplace characteristics on investment development and financial value creation within the holding companies of Bank Melli. The research is applied in nature and quantitative in terms of data type, employing library-based and field methods (descriptive-survey) for data collection. The target population consisted of employees of Bank Melli’s holding companies, with a sample size of 380 individuals selected using Cochran’s formula and simple random sampling. The data collection instrument was a standardized questionnaire, whose validity was confirmed through expert opinions and reliability verified via Cronbach’s alpha coefficient. Data were analyzed using structural equation modeling and software tools such as SPSS and Smart PLS 4. The results indicated that psychological characteristics, including self-esteem (β=0.200), sense of belonging (β=0.248), self-awareness (β=0.386), and resilience (β=0.213), have a significant positive effect on investment development. Similarly, self-esteem (β=0.295), sense of belonging (β=0.360), self-awareness (β=0.123), and resilience (β=0.446) exert a significant positive influence on financial value creation. The coefficient of determination (R²=0.519) and the goodness-of-fit index (GOF=0.589) suggest a high level of model fit. These findings underscore the importance of enhancing psychological workplace characteristics through training programs and supportive organizational cultures to improve investment development and financial value creation. It is recommended that future research adopt mixed-method approaches and explore environmental factors to enhance the generalizability of the results.
منابع فارسی:
1. خوشکار، فرزین، و سرشار، سارا. (1401). نقش ویژگیهای روانشناختی مدیران بر رابطه بین مالکیت شرکتهای خانوادگی و سرمایهگذاری تحقیق و توسعه. چشمانداز حسابداری و مدیریت، 5(56)، 31-43.
2. آقاجانی، و.، پاکمرام، ع.، عبدی، ر.، و نریمانی، م. (1390). رابطه بین انواع رفتاری و تصمیمات سرمایهگذاری با واسطه خودکارآمدی. مجله پژوهشهای نوین روانشناسی، 15(60)، 115-130.
3. یزدانی، نرجس؛ خوراکیان، علیرضا؛ رحیمنیا، فریبرز. (1396). بررسی تأثیر سرمایههای روانشناختی بر ابعاد رفتارهای انحرافی در محیط کار. سومین کنفرانس بینالمللی مدیریت، حسابداری و اقتصاد دانشبنیان با تأکید بر اقتصاد مقاومتی، تهران.
4. کریمی، فاطمه. (1396). تأثیر ویژگیهای شرکتی بر ارزشآفرینی شرکتهای تولیدی پذیرفتهشده در بورس اوراق بهادار تهران. هشتمین کنفرانس بینالمللی حسابداری و مدیریت و پنجمین کنفرانس کارآفرینی و نوآوریهای باز، تهران.
5. تاجفر، امیرهوشنگ؛ لاری سمنانی، بهروز؛ یوسفی، الهام. (1395). بررسی تأثیر سرمایه انسانی و ویژگیهای سازمانی بر ارزشآفرینی کسبوکار فناوری اطلاعات.
منابع خارجی:
1. Abid, M., Shamim, A., Khan, Z., & ... (2022). Value creation or value destruction: Conceptualizing the experiential nature of value‐in‐use. Journal of Consumer
2. Acharya, A., Singh, S. K., Pereira, V., & Singh, P. (2018). Big data, knowledge co-creation and decision making in fashion industry. International Journal of Information Management, 42, 90–101. Adil, M., Singh, Y., & Ansari, M. S. (2022). How financial literacy moderate the association between behaviour biases and investment decision? Asian Journal of Accounting Research
3. Alkaraan, F., Floyd, D., Rahman, M., & Nuery, N. (2023). A new era of strategic investment decision-making practices in UK companies: Towards sustainable supply chains and circular economy. Theoretical Economics Letters. Assis, G. R., Benuti, G. G., Moretto, M. L. T., Vidigal, C. G., Santos, R. P. dos, Lobo, R. D., Padoveze, M. C., Pedroso de Lima, A. C., Singer, J. M., & Levin, A. S. (2021). Psychological characteristics are associated with healthcare worker adherence to infection control practices. American Journal of Infection Control, 49(7), 879–884.
4. Bahk, W.-M., Kwon, Y.-J., Lee, K.-H., & Park, S.-Y. (2023). Are there differences in psychological characteristics between upper and lower functional gastrointestinal disorders? IBRO 11th World Congress of Neuroscience Supplement, 15, S597
5. Banerjee, S., & Singh, G. K. (2025). AUDSER: Auto-detect and self-recovery reversible steganography algorithm for biological signals. Biomedical Signal Processing and Control, 100, 106974.
6. Chiang-Vega, M., & Candia-Romero, F. (2021). Beliefs affect organizational commitment and job satisfaction. A model of structural equations. Revista Científica de La UCSA, 8(1), 14–25.
7. Hales, S., & Gannon, T. (2022). Understanding sexual aggression in UK male university students: An empirical assessment of prevalence and psychological risk factors. Sexual Abuse. Hirai, Y., Wrona-Piotrowicz, A., Zakrzewski, J., Ciechańska, M., Ohmura, T., Takeda, T., Nakanishi, T., Métivier, R., & Allain, C. (2024). Mechanofluorochromism and self-recovery of alkylsilylpyrene-1-carboxamides. Journal of Materials Chemistry C, 12(6), 1952–1957.
8. Hossain, M. D., Moon, J., Kim, J. K., & Choe, Y. C. (2011). Impacts of organizational assimilation of e-government systems on business value creation: A structuration theory approach. Electronic Commerce Research and Applications, 10(5), 576–594
9. Iwanaga, K., Chan, F., Deiches, J., Lee, D., Chen, X., Wu, J. R., Zapata, P., & Rumrill, P. (2024). Constructs of the Stress–Appraisal–Coping Theory and Positive Human Traits as Predictors of Perceived Stress in People with Multiple Sclerosis: Implications for Rehabilitation Professions. Journal of Applied Rehabilitation Counseling, 55(3), 179–196.
10. Jain, K., Gangopadhyay, M., & Mukhopadhyay, K. (2024). Prospects and challenges of green bonds in renewable energy sector: Case of selected Asian economies. Journal of Sustainable Finance & Investment, 14(3), 708–731
11. Jaki, A., & Ćwięk, W. (2020). Bankruptcy prediction models based on value measures. Journal of Risk and Financial Management.
12. Li, X., Zhang, X., & Jia, T. (2023). Humanization of nature: Testing the influences of urban park characteristics and psychological factors on collegers’ perceived restoration. Urban Forestry & Urban Greening, 79, 127806
13. Mustafa, S., & Zhang, W. (2024). Why do I share? Participants’ personality traits and online participation. International Journal of Human–Computer.
14. Pinto, G. A., Salamé, J. M., & Nicolaï, I. (2021). Can we break organizational beliefs in the construction sector? Investigating possible paths to Safety Performance Measurements research. XXIV Seminars in Business Administration-SemeAd, 2021.
15. Rather, R. A. (2021). Demystifying the effects of perceived risk and fear on customer engagement, co-creation and revisit intention during COVID-19: A protection motivation theory approach. Journal of Destination Marketing & Management, 20, 100564
16. Raut, R. K. (2020). Past behaviour, financial literacy and investment decision-making process of individual investors. International Journal of Emerging Markets.
17. Razmus, W. (2025). Me and my brand(s): Exploring the psychological resource exchange in consumer-brand relationships. New Ideas in Psychology, 76, 101123.
18. Ricciardi, V. (2017). The Financial Psychology of Players, Services, and Products. Financial Behavior: Players, Services, Products, and Markets, H. Kent Baker, Greg Filbeck, and Victor Ricciardi, Editors, 23–41.
19. Sari, D. P., & Ali, H. (2022). Literature Review Measurement Model of Individual Behavior and Organizational Citizenship Behavior: Individual Characteristics, Work Culture and Workload. Dinasti International Journal of Management Science, 3(4), 647–656.
20. Seong, E., Ji, S.-I., Kim, M., Lee, K. H., & Ji, J.-W. (2022). Psychological and Clinical Characteristics of Self-Harm in Nonsuicidal Self-Injury (NSSI) Adolescents: Comparison with Controls and Across Diagnostic Subgroups. Scientific Proceedings of the 2022 AACAP/CACAP Annual Meeting, 61(10, Supplement), S218. Stoyanov, D. (2024). The unexpected comparison between lock-out agreements and non-alienation clauses. YEUCL, 3, 901–926.
21. Sukmawaty, D., Sudarno, S., & Putra, R. (2021). Work Motivation, Discipline, and Work Culture on Work Satisfaction and Teacher Performance at State Junior High School, Sukajadi District. Journal of Applied Business and Technology, 2(3), 251–260.
22. Tajvidi, M., Richard, M.-O., Wang, Y., & Hajli, N. (2020). Brand co-creation through social commerce information sharing: The role of social media. Journal of Business Research, 121, 476–486.
23. Udin, U. (2023). Leadership styles and their associated outcomes: A bibliometric review using VOSviewer. International Journal of Human Capital in Urban Management, 8(4), 443–456.
24. Vilkaitis, K., Jakutis, L., & Correia, R. (2022). Gaming times four: How does customer participation shape consumer brand identification during the new product creation process: A conceptual model proposal. Procedia Computer Science, 204, 370–377.
25. Wang, H., & Shao, R. (2024). Does the green finance policy affect the efficiency of corporate investment? Evidence from China’s green finance reform and innovation pilot zones. PloS One, 19(11).
26.
27. Zhang, S., & Meng, Q. (2021). Electronics closed-loop supply chain value co-creation considering cross-shareholding. Journal of Cleaner Production, 278, 123878.
