Influence of Emotional Trends of Investors and the Company's Borrowing on Deviations from Expected Investment

Subject Areas : Journal of Investment Knowledge

Majid  Zanjirdar ¹ (Departement of Business Management،.Arak Branch. Islamic Azad University. Arak. Iran)
Mojtaba  Leitani ² (Departement of Accounting،.Arak Branch. Islamic Azad University. Arak. Iran)

Received: 2017-05-04 Accepted : 2017-08-01 Published : 2018-09-23

Keywords: Deviation from expected invest, The amount of corporate borrow,

Abstract :

The purpose of this study was to investigate the effect of investors 'emotional tendencies and the amount of company borrowing on deviations from the expected investment in Iran. After designing the evaluation indicators of investors' emotional tendencies, information from the Stock Exchange was collected from 2011 to 2013. The sample consisted of 89 companies selected by sampling method based on Cochran formula, which was a total of 445 years old. In this research, linear regression and correlation were used to analyze the hypotheses and to analyze the data and test the research hypotheses. Eviews software is used. What is summarized in the general conclusion of the research hypothesis test is that the emotional tendencies of investors have a positive effect on the positive deviations from expected investment and have a negative effect on the negative deviations of the expected investment of the companies; also, the amount of borrowing has a positive impact on The positive deviations from the expected investment and the negative impact on the negative deviations of the expected investment of the companies. Finally, the results showed that investors' emotional tendencies exacerbated the negative deviations of expected investment through borrowing and exacerbated positive deviations from expected investments.

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