List of Articles سرمایه‌گذاران حقیقی

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  1 - Analysis of the Behavior of Individual Investors Based on the Theory of Planned Behavior: With Emphasis on Optimism-Pessimism and Financial Literacy
  Mohammad Nazaripour Babak Zakizadeh
  10.30486/fbra.2023.1979665.1180
  Among the requirements for capital markets development is to analyze the individual investors' behavior from the different aspects. In this study, the individual investors' behavior has been investigated based on the expanded theory of planned behavior (including two va More

  Among the requirements for capital markets development is to analyze the individual investors' behavior from the different aspects. In this study, the individual investors' behavior has been investigated based on the expanded theory of planned behavior (including two variables: optimism-pessimism and financial literacy). The required data were collected through the distribution of questionnaires among 266 individual investors. Data analysis was performed using structural equation modeling in the form of SmartPLS version 3 and SPSS version 26 software. According to the research findings, all 10 research hypotheses were confirmed. Out of 10 hypotheses, 7 are related to direct effects and 3 are related to indirect effects. This means that the variables of attitude, subjective norms, perceived behavioral control, and optimism-pessimism have a positive and significant effect on people's investment intention. In addition, variables of optimism-pessimism and financial literacy have a positive and significant effect on attitude. Also, the variable of financial literacy has a positive and significant effect on the variable of perceived behavioral control. Based on the research findings, the variables of attitude and the perceived behavioral control have a mediating effect on the relationships between optimism-pessimism and financial literacy variables with people's investment intention. Finally, based on the research findings, the implementation of the extended planned behavior theory in the capital market can help the growth and development of this market. Manuscript profile
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  2 - Investigating the intelligence of investors of mutual funds during the recession and economic prosperity of the capital market
  bahareh heidari mogadam mirfeia fallahshams gholamreza zomorodian
  The purpose of this study is to investigate the ability of mutual fund investors to predict the performance of mutual funds and select a fund with higher returns. To predict whether investors and the cash they enter into investment funds will be able to select a more ef More

  The purpose of this study is to investigate the ability of mutual fund investors to predict the performance of mutual funds and select a fund with higher returns. To predict whether investors and the cash they enter into investment funds will be able to select a more efficient fund, first, the information of 34 funds in the period 2012 to 2020 was Collected to examine the intelligence of cash. The economic prosperity periods of the market were then examined separately to determine whether investors had acted differently in different market periods. Also, real and legal investors are separated from each other to examine the performance of each separately. Using Carhart's four-factor model, the adjusted return on risk of the funds was calculated to assess the intelligence of investors, which showed that group of real and legal investors, at the time of entry during market blooming and at the time of exit money during market stagnation act wisely in mutual funds. Manuscript profile