Identifying and Analyzing the Effective Key Propulsion on the Risk-taking Capacity of Investors with Futures Studies Approach

Subject Areas : Journal of Capital Market Analysis

seyed najibollah shanaei ¹ , Ali Zabihi ² , Mohammadreza shoorvarzi ³

1 - Ph.D of Accounting, Sari Branch, Islamic Azad University, Sari, Iran.
2 - Department of Accounting, Sari Branch, Islamic Azad University, Sari, Iran
3 - Associate Professor,Department of Accounting, Islamic Azad University. neyshabour,Iran

Received: 2023-11-28 Accepted : 2024-05-26 Published : 2024-06-29

Keywords: risk-taking capacity, futures studies, Personal futures studies, Individual investors , MICMAC,

Abstract :

To start a successful investment, the best approach is for investors,in addition to financial literacy and investment knowledge, to have sufficient information about their psychological and personality characteristics as an investor in the capital market.These dimensions together,explain the risk-taking capacity of investors. The current research, with a futures studies approach.identifies the most important factors affecting the risk-taking capacity of investors and examines the extent and manner of their influence on each other.This research is applied in terms of purpose, and in terms of method, it is a combination of documentary and survey methods, and in terms of nature, it is based on the new methods of futures studies, analysis and exploration, which was carried out by using a combination of quantitative and qualitative models. In order to collect data in the qualitative part, semi-structured interviews were used. The interviewees were experts in the field of capital market and were selected purposefully. In the second stage, quantitative data was collected and analyzed by examining the sources and background of the research and categorized into 29 categories. The analysis of the MICMAC results shows that among the 29 extracted factors,four categories of Micro and Macro economics conditions, Investor's experience, Personal futures studies, and the investor's knowledge condition were determined as the factors with the most direct and indirect effects,respectively.Also,seven categories of Micro and Macro economics conditions,demographic factors, investor's knowledge conditions, investor's experience, investor's cultural conditions,Social individual factors and political conditions were introduced as key drivers in determining the risk-taking capacity of investors.