Modeling Investor Behavior Patterns in Choosing a Stock Portfolio During the Covid-19 Epidemic

Subject Areas : Financial and Behavioral Researches in Accounting

Saeed  Harivandi ¹ (Phd Candidate, Islamic Azad University, Birjand Branch, Birjand, Iran)
َAhmad  Ahmadi ² (Assistant Professor of Accounting, Islamic Azad University, Birjand Branch, Birjand, Iran)
Mahmoud  Lari Dasht Bayaz ³ (Assocoate Professor of Accounting, Ferdowsi University of Mashhad, Mashhad, Iran)

Received: 2023-10-20 Accepted : 2023-12-05 Published : 2023-12-21

Keywords: the Foundation's Data Method, the Spread of Covid-19, Social Crises, Behavior patterns,

Abstract :

Abstract: The main goal of this research is to investigate the effects of social crises on the decision-making process of shareholders. The current research has focused on modeling the behavior patterns of investors in choosing a stock portfolio during the outbreak of the Corona virus. The required data was collected through previous studies and interviews with stock market experts. Also, in order to present the model, the foundation data method was used. The results of open coding showed that 45 main concepts in the form of causal conditions, contextual conditions, intervening conditions, central categories and consequences, in order to explain the model of investors' behavioral tendencies in choosing a stock portfolio during the outbreak of the Corona disease in the market. There are Iranian stocks, the most common of which are the behavioral tendencies of following the crowd, under-reacting, paying too much attention to rumors, short-sightedness, tendency effect, innovation and loss aversion. By using selective coding, a paradigmatic pattern of investors' behavioral trends in choosing a stock portfolio during the outbreak of the Corona disease in the Iranian stock market was designed so that 13 concepts are causal conditions, 10 are background conditions, 10 are intervening conditions, 7 are core phenomenon, and 5 are the consequences of investors' behavioral biases in choosing a stock portfolio during the mentioned period in the Iranian stock market.This research has examined the behavioral patterns of investors in a specific period (coronavirus outbreak) and presented a model that can be extended to other social crises.