List of Articles Mass Behavior

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  1 - Prioritization of stock price bubble measuring factors with a behavioral approach
  ALI RAMEZANI Fraydoon Rahnamay Roodposhti HAMIDREZA KORDLOUIE SHADI Shahverdiani
  Behavioral bubble models generally assume that real investors,as uninformed and irrational individuals, follow the trend and cause bubbles to form,while legal investors,as informed,adopt a reverse behavioral strategy. They go against the trend. Therefore,the main purpos More

  Behavioral bubble models generally assume that real investors,as uninformed and irrational individuals, follow the trend and cause bubbles to form,while legal investors,as informed,adopt a reverse behavioral strategy. They go against the trend. Therefore,the main purpose of this study was to prioritize the factors of measuring the stock price bubble with a behavioral approach. The method of the present study is descriptive survey and the statistical population consists of 10 capital market experts. ANP was used to prioritize the identified behavioral factors. The threshold value must be calculated to map the network relationships. In this study,a threshold value of0.059 was obtained.to normalize the preferences of each criterion,the sum of the values of that criterion must be divided by the sum of all preferences. Because the values are fuzzy,the fuzzy sum of each row is multiplied by the inverse of the sum. The inverse sum must be calculated.Each of the obtained values of fuzzy and normalized weight corresponds to the main criteria.In the final step of de-fuzzing, the values obtained and the crisp number are calculated.The incompatibility rate of the comparisons is0.026 ,which is less than0.1 ,and therefore the comparisons can be trusted.Calculations performed to determine the priority of the main criteria showed that heterogeneity of investors with a normal weight of0.128 has the highest priority.Speculative behavior with a normal weight of0.107 is in the second priority.Mass behavior with a normal weight of 0.1067 Is in the third priority and mental accounting with a normal weight of0.092 is in the last priority. Manuscript profile
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  2 - The Effect of Internal Quality Control on the Relationship between Financial Reporting Quality and Mass Behavior in Investors
  Zeinab Rezaei Ali Tamoradi
  The purpose of the present study is to review the effect of internal quality control (IQC) on the relationship between financial reporting quality and mass behavior of the accepted corporations' investors in Tehran Stock Exchange. The method of study was descriptive-ana More

  The purpose of the present study is to review the effect of internal quality control (IQC) on the relationship between financial reporting quality and mass behavior of the accepted corporations' investors in Tehran Stock Exchange. The method of study was descriptive-analytic which used the statistical software of EViews 10 for data analysis. In this research, 150 corporations (1050 years of participation) were chosen for the research hypothesis testing from 2013 to 2020. For the research hypothesis testing, multi-vitiate regression models with panel data were used. The results showed that financial reporting quality has a significant effect on the mass behavior of the accepted corporations' investors in Tehran Stock Exchange. Moreover, IQC increases the negative correlation between financial reporting quality and mass behavior of the accepted corporations' investors in Tehran Stock Exchange. According to the research results, it can be asserted that besides financial and nonfinancial factors, the investors should pay attention to the role of financial reporting quality as an important criterion in decision making. Furthermore, the board of directors and audit committee members in corporations can take steps to increase financial reporting quality and decrease the investors' mass behavior through consistent and accurate evaluation and supervision over the process of internal control. Manuscript profile
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  3 - Identifying the factors affecting the formation of mass behavior of Tehran Stock Exchange investors
  Samire Qaledare Ardeshir Shiri Karam Khalili Ali Yasini Qaribe Esmaelikia
  This study is to identify the factors affecting the formation of mass behavior of investors in the Tehran Stock Exchange. For this purpose, by conducting interviews in the form of five categories of economic and political factors, market psychological factors, company f More

  This study is to identify the factors affecting the formation of mass behavior of investors in the Tehran Stock Exchange. For this purpose, by conducting interviews in the form of five categories of economic and political factors, market psychological factors, company financial factors and individual factors were classified. The present research method is applied in terms of purpose and in terms of data collection is considered as descriptive-survey research. investigate the field in the present study, the statistical population includes all shareholders in the stock exchange, which was calculated to be 384 people due to the unlimited nature of the society to obtain the statistical sample size of Cochran's formula. In addition to library studies, the data collection tool is a questionnaire whose validity was confirmed using the opinion of professors and experts and its reliability was calculated using Cronbach's coefficient was 0.91. Spss software was used to analyze the data and liserl software was used to determine the significance of the indicators. The results show that the five factors studied are effective in the mass behavior of investors and the exchange rate, sanctions and brokers' opinion have the greatest impact on behavior. Mass investors like the Tehran Stock Exchange. Manuscript profile
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  4 - Provide a Causal Model to Investigate the Emotional Behavior of Investors According to the Fuzzy Dematel Method
  elham bahaghighat ali esmaeilzade
  DOI: 10.30495/JDAA.1403.1079844
  Today, the feelings of investors are recognized as one of the influential factors in the flow of capital as well as the general movement of the stock market; So that the flow of capital to investment funds is mentioned as one of the indicators for assessing market senti More

  Today, the feelings of investors are recognized as one of the influential factors in the flow of capital as well as the general movement of the stock market; So that the flow of capital to investment funds is mentioned as one of the indicators for assessing market sentiment. In fact, investors with little information are more likely to make new investments or withdraw from previous ones based on emotions. The aim of this study was to provide a causal model to investigate the emotional behavior of investors with respect to the fuzzy Dematel method. This research is descriptive in nature and content. In this research, information about 15 professors and capital market experts is the statistical sample. The results of this study showed that the four main factors of behavioral finance, behavioral personality, mass behavior and culture affect the emotional behavior of investors. Also, Dematel method showed that the mass behavior factor with an average of 18.740, the culture factor with an average of 9.497 and the behavioral financial factor with an average of 8.742 are among the influential factors. On the other hand, the behavioral personality factor with an average of 14.975 is considered as an influential factor. Manuscript profile
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  5 - Investigating the Relationship between herding Behavior Bias and Value of Companies in the Chemical Products Industry of Tehran Stock Exchange
  saeed pakdelan Mohammed Hussain vadeei Alireza Azarbrahman Samira Salim
  10.30495/afi.2021.1921364.1010
  Financial markets play a vital role in macroeconomics and sustainability. Therefore, considering this role in macroeconomics, it seems necessary to study the behavior of managers and investors regarding the tendency to imitate the actions of others and the formation of More

  Financial markets play a vital role in macroeconomics and sustainability. Therefore, considering this role in macroeconomics, it seems necessary to study the behavior of managers and investors regarding the tendency to imitate the actions of others and the formation of mass behavior and the impact of this behavior on the value of companies. The main purpose of this study is to investigate the bias of corporate mass behavior with the value of the company at the company, industry and the entire research community, which can help to develop behavioral financial issues. For this purpose, the behavioral bias of managers and investors was examined from the perspective of mass production at the company and industry levels and its effect on the value of the company was analyzed. To test the hypotheses, a sample of 44 companies active in the chemical products industry for the years 1391 to 1397 was selected and correlation and multivariate regression tests were used. The experimental results of this study indicate the existence of bias in the mass behavior of managers and investors at the industry level. The results showed that stock prices have a significant mass behavior at the company level. It was also confirmed that investor behavior bias can affect the value of the company. Finally, it was confirmed that the behavior of managers has a significant effect on the value of the company. Manuscript profile
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  6 - Investigating the effect of emotional tendency and mass behavior of shareholders on the risk of falling stock prices
  Rozhein Shakornia Mohsen Dastgir Afsaneh Soroshyar
  10.30495/afi.2023.1979850.1197
  Purpose: The purpose of this research i The risk of falling stocks is one of the concerns of investors, and increasing the risk of falling stocks causes pessimism among investors in the stock exchange, and this massive behavior leads to the aggravation of market fluctua More

  Purpose: The purpose of this research i The risk of falling stocks is one of the concerns of investors, and increasing the risk of falling stocks causes pessimism among investors in the stock exchange, and this massive behavior leads to the aggravation of market fluctuations, destabilization of markets, and increased fragility of financial systems, The investors in the stock market is to obtain a reasonable return, is obtained from the two parts of stock price changes and dividends, so that investors financial analysts should be able to predict stock prices returns using investment models.Methodology: The present research is objective, practical and in terms of nature; It is descriptive and correlational. For this purpose, two hypotheses were formulated and data related to 100 member companies of Tehran Stock Exchange were used for the time period of 1391 to 1399. To test the hypotheses, the multivariate regression technique using the panel data method was used. Findings: There is a positive and significant relationship between the emotional tendency of investors and the risk of falling stock prices, and there is also a positive and significant relationship between the collective behavior of shareholders and the risk of falling stock prices.Research methodology: the present research is objective, practical and in terms of nature; It is descriptive and correlational. For this purpose, two hypotheses were formulated and data related to 100 member companies of Tehran Stock Exchange were used for the period of 2011 to 2019. To test the hypotheses, the multivariate regression technique using the panel data method has been used.Originality / Value: The results showed that the behavioral biases of investors, including emotional tendency and mass behavior, have led to a decrease in the efficiency of the stock market, as well as a decrease in the rationality of investors' decision-making, which results in an increase in the risk of falling stock Prices. Manuscript profile