The Moderating Role of Media Financial Literacy on the Relationship Between Behavioral Orientation and Investment Decisions with a Focus on Individuals' Gender

Subject Areas : Financial and Behavioral Researches in Accounting

Hadiseh Darvish ¹ (Department of Accounting, Malard Branch, Islamic Azad University, Tehran, Iran.)
Mohsen Hashemi Gohar ² (Department of Accounting, Shahr-e-Qods Branch, Islamic Azad University, Tehran, Iran.)
Khalil Shekasteh Band ³ (Master of Accounting, Department of Accounting, Malard Branch, Islamic Azad University, Tehran, Iran.)

Received: 2023-11-09 Accepted : 2023-12-13 Published : 2023-12-21

Keywords: Investment decisions, Media financial literacy, behavioral orientation,

Abstract :

The purpose of this research is to investigate the moderating role of media financial literacy on the relationship between behavioral orientation and investment decisions, emphasizing the gender of individuals. The current research is applied in terms of purpose and descriptive-correlation in terms of data collection. A standard questionnaire was used to collect information, and the statistical population is all people working in the profession of auditing and accounting with all their job levels and working in the private and public sector in 1402. Using Cochran's formula, the statistical sample of the research was 384 people and sampling was also done by simple random sampling. By using structural equations by Smart Pls3 software, the validity of the research hypotheses was checked and the results of the hypothesis test showed that overconfidence, herd behavior, mood, risk aversion and media financial literacy influence investment decisions in investors. Mr. and Mrs. is the work. Also, the results showed that media financial literacy moderates the relationship between overconfidence, herd behavior, mood and risk aversion with the investment decisions of male and female investors.