Micro Investors' Perceptual Models exposing Capital Market of Iran using Zaltman's Mental Metaphors technique (Case study: Micro Investors of Tehran Stock Exchange (MITSE) residing Khuzestan Province)

Subject Areas : Financial Knowledge of Securities Analysis

hasan shahtalei ¹ , maryam darvishi ² , jabber Mohammad Moosae ³

1 - Department of Business Management, OmidIyeh Branch, Islamic Azad University, OmidIyeh, Iran
2 - Department of Business Management, Omidiyeh Branch, Islamic Azad University, Omidiyeh, Iran
3 - Department of Business Management, Omidiyeh Branch, Islamic Azad University, Omidiyeh, Iran

Received: 2021-12-20 Accepted : 2022-09-19 Published : 2023-02-20

Keywords: Mind Mapping, Micro Investors of Tehran Stoc, Zaltman Mental Metaphor Techni,

Abstract :

The study aimed to review and analyze cognitive structures for MITSE by a qualitative interview-based approach using Zimet technique. Accordingly, a semi-structured interview applied on 13 MITSE residing Khuzestan province and micro investors' mental (perceptual) map extracted. Six main extracted categories included in attributes of financial markets, types of financial markets, attributes and applications of capital market, governments' roles on capital markets, society and capital market and main players of capital market. Micro investors in sub-categories sector revealed that the main factor for the country's economic growth means investment and savings has increasingly been tarnished by a dramatic decrease of the public trust and the private sector toward the government and central bank policies. Ahead of this negative influence, the country's development of financial markets (DFM) will undesirably be ineffective. DFM considered as the most important and effective strategy in the developed countries. One may claims that the biggest mental perception for micro investors would be to ignore the most important advantages and attributes of capital markets and investment on stock exchange (e.g. transparency and security on investment, risk control on asset withdrawal and micro investments of long-term projects). This will ultimately lead to a severe reduction in economic growth, inflation, depreciation of the national currency and decreasing quality of the public's level of living in the country.

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