Role of Psychological Prejudice on Financial Satisfaction of Investors: Evidence from Investors in Tehran Stock Exchange

Subject Areas : Financial Economics

Mehrdad Nemati ¹ , Saman Rahmani Nowruzabad ²

1 - Department of Management, Ilam University, Ilam, Iran (author and responsible
2 - Financial Management Group, Khabargan Stock Brokerage Company, Tehran, Iran

Received: 2023-03-21 Accepted : 2023-05-24 Published : 2023-06-22

Keywords: G53, Key words: Financial Satisfaction, Investors' Tendencies, Psychological biases. JEL Classification: G41,

Abstract :

Abstract The Purpose of This Study was to Identify the Effect of Psychological Bias on Financial Investors' Satisfaction in Tehran Stock Exchange. In this field of research, in order to collect data field method and standard questionnaire were used. The validity of questionnaire was checked by experts. In the next step, the reliability of the questionnaire was investigated using Cronbach's alpha coefficient. The results confirm that the questionnaire has the necessary reliability. The statistical population of this research is real investors in Tehran Stock Exchange. Considering that the number of the statistical population is unlimited, the desired sample size of 384 people was randomly selected using Cochran's formula and investigated. In order to Investigate the Relationship Btween the Variables of Research, Structural Equation Modeling Technique and LISREL Software have been used. Good Fitting Indicators Such as RMSEA, GFI, and AGFI Indicate Good fit of the Model and the Usability of the Results. The Results show That the Effect of Excessive Self-confidence, Reliance on Financial Experts, Tendency to Classify Money, Tendency to Budgeting, Tendency to adapt, Social Responsibility, Reliance on Spouse and Self-control on Positive Financial Satisfaction and Meaningful

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