Purpose: The goal of this research is to identify the effects of oil, dollar and gold prices on the capital market; and meanwhile the investors’ Behavioral Biases. Method: The same research is a qualitative study of phenomenological type. Field data were collected
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Purpose: The goal of this research is to identify the effects of oil, dollar and gold prices on the capital market; and meanwhile the investors’ Behavioral Biases. Method: The same research is a qualitative study of phenomenological type. Field data were collected using in-depth interviewing techniques and theoretical saturation criteria among 10 active participants of Tehran Stock Exchange who have at least three years of experience in investing in financial markets. After the implementation of the analysis phase using the Colaizzi method and MAXQDA10 software, the recorded interviews have been conducted. Findings: Based on data analysis, seven main themes including external factors, parallel markets, cognitive biases, emotional biases, abnormal phenomena (in behavioral economics) as well as cultural and personal factors were extracted from the interviews. The results emphasize on the need for taking measures to predict exchange rates and avoid government-mandated pricing.Key words: Currency, Gold, Oil, Behavioral Biases, Capital Market
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