List of Articles رفتار جمعی

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  1 - Social mood and behavior of investors; evidence of herd behavior of investors in the religious months
  Sobhan Eskini Alireza Aghajani
  Studies show religion is effective factor in forming social mood. Therefore, the impact of religion on behavioral bias affected by social mood can be studied. This study is an ex-post facto research that Using observed data tests possibility of herd behavior in religiou More

  Studies show religion is effective factor in forming social mood. Therefore, the impact of religion on behavioral bias affected by social mood can be studied. This study is an ex-post facto research that Using observed data tests possibility of herd behavior in religious months, consist of Muharram, Ramadan, and Zul-Hijjah, in Iranian capital market. After studying 1206 days of Daily trade in Tehran Stock Exchange during 1989-1993 (Solar Hijri-Iranian calendar), results show possibility of herd behavior in religious months more than other months of the year. Between religious month, Ramadan has the greatest impact of forming herd behavior. Also, the theories point out market performance and trading volume affect herd behavior. Accordingly, using robustness tests, this study investigates possibility of herd behavior affected by market performance and trading volume. However, there was no certain pattern. These results make contributions to the literature on the effects of social norm studies on markets, herding in stock market, and Islamic finance studies in particular. Manuscript profile
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  2 - The Effect of Financial Literacy on Behavioral Biases of Overconfidence and Herding Behavior and Analysis of their Effect on Investors' Performance in Tehran Stock Exchange Using Structural Equation Modeling
  Amin Roshangarzadeh mohsen dastgir rahman saedi
  Behavioral psychologists believe that people consistently tend to act in erratic ways when making decisions about their investments. In the other words, these researchers believe that investors are actually irrational and show behavioral biases. The purpose of this arti More

  Behavioral psychologists believe that people consistently tend to act in erratic ways when making decisions about their investments. In the other words, these researchers believe that investors are actually irrational and show behavioral biases. The purpose of this article is to investigate the effect of the dimensions and functions of financial literacy on the behavioral biases, including overconfidence bias and herding behavior bias, and to analyze their effect on each other and on the performance of investors in the Tehran Stock Exchange. For this purpose, a statistical sample was collected through a questionnaire from among 509 investors in the Tehran Stock Exchange. Also, PLS software was used to analyze the model. The results of this research showed that financial literacy has a significant effect on overconfidence behavioral biases and herding behavior among investors. Also, the results showed that the mentioned biases have a significant effect on the performance of investors. Manuscript profile
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  3 - The Characteristics of Stocks on Herding Behavior in Tehran Stock Exchange Corporations
  Jalil Khodaparast Shirazi Mohammad Sayrani Somayeh Abolfathi
  Policymakers often express concern that behavioral finance such as herding by financial market participants destabilizes markets and increases the fragility of the financial system. This paper provides an empirical research on herding behavior of investors whit employin More

  Policymakers often express concern that behavioral finance such as herding by financial market participants destabilizes markets and increases the fragility of the financial system. This paper provides an empirical research on herding behavior of investors whit employing technique of Lakonishok, Shleifer, and Vishny, 1992, (LSV) herding measure by using a data-set consisting of all their daily transactions of 59 corporations in Tehran stock exchange corporations and during 24 months ( Dec.2007 until Dec.2009), and explores the factors that can explain such behavior. In this study demonstrates that herding is affected by four features specific to the stocks, such as their size, systematic risk, idiosyncratic risk, and P/E. Size, systematic risk and idiosyncratic risk tend to positively affect herding but this effect is significantly higher for size. This context also reveals that P/E influences herding negatively. In general most of the results are consistent with the theory that herding is information based, and also when market conditions are favorable. Manuscript profile
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  4 - Sociologicalanalysis of the essence, causes and consequences of the Constitutional Movement in Iran
  firoz rad javad sheykhi
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