Institutional Investors' Horizons and Managerial Myopia
In the context of the Iranian financial market, and with problems such as fragile bubbles in the stock market, the likelihood of stocks crashing, and in particular the severe information asymmetry that exists among investors, most investors are reluctant to take risks and prefer to focus on short-te...
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| Format: | Article |
| Language: | fas |
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Securities Exchange
2022-02-01
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| Series: | فصلنامه بورس اوراق بهادار |
| Subjects: | |
| Online Access: | https://journal.seo.ir/article_11247_bdcb2877277733ead934aec9e4c9853b.pdf |
| _version_ | 1811258191279816704 |
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| author | Hasan Valiyan mehdi safarigerayli Yasser Rezaei pitenoei (Ph.D) |
| author_facet | Hasan Valiyan mehdi safarigerayli Yasser Rezaei pitenoei (Ph.D) |
| author_sort | Hasan Valiyan |
| collection | DOAJ |
| description | In the context of the Iranian financial market, and with problems such as fragile bubbles in the stock market, the likelihood of stocks crashing, and in particular the severe information asymmetry that exists among investors, most investors are reluctant to take risks and prefer to focus on short-term profitability. This allows many managers to take a myopic approach in investment decisions to increase the firm's short-term profitability. The purpose of this study is to investigate the impact of institutional investors investment horizons including long and short term investment horizons on managerial myopia of the firms listed on the Tehran Stock Exchange (TSE). The research hypotheses wree tested using a sample of 63 companies listed in Tehran Stock Exchange during the year's 2014 to 2018 using Logistic regression model.The results show that according to the first hypothesis test, long-term institutional investors' investment horizons have a significant negative association with the managerial myopia. Also, based on the result of the second hypothesis, we find that short-term investment horizons have a positive and significant association the managerial myopia |
| first_indexed | 2024-04-12T18:09:23Z |
| format | Article |
| id | doaj.art-a77c2de01d3d475c80b2abe381fc3046 |
| institution | Directory Open Access Journal |
| issn | 2228-5431 2820-9893 |
| language | fas |
| last_indexed | 2024-04-12T18:09:23Z |
| publishDate | 2022-02-01 |
| publisher | Securities Exchange |
| record_format | Article |
| series | فصلنامه بورس اوراق بهادار |
| spelling | doaj.art-a77c2de01d3d475c80b2abe381fc30462022-12-22T03:21:53ZfasSecurities Exchangeفصلنامه بورس اوراق بهادار2228-54312820-98932022-02-01145626929610.22034/jse.2020.11295.149311247Institutional Investors' Horizons and Managerial MyopiaHasan Valiyan0mehdi safarigerayli1Yasser Rezaei pitenoei (Ph.D)2Assistant Professor of Management, Department of Management, Sari Branch, Islamic Azad University, Sari, Iran.Associate Professor Department of accounting,Bandargaz Branch, Islamic Azad University, Bandargaz, IranAssistant Professor of accounting, University of Guilan, Rasht, Iran.In the context of the Iranian financial market, and with problems such as fragile bubbles in the stock market, the likelihood of stocks crashing, and in particular the severe information asymmetry that exists among investors, most investors are reluctant to take risks and prefer to focus on short-term profitability. This allows many managers to take a myopic approach in investment decisions to increase the firm's short-term profitability. The purpose of this study is to investigate the impact of institutional investors investment horizons including long and short term investment horizons on managerial myopia of the firms listed on the Tehran Stock Exchange (TSE). The research hypotheses wree tested using a sample of 63 companies listed in Tehran Stock Exchange during the year's 2014 to 2018 using Logistic regression model.The results show that according to the first hypothesis test, long-term institutional investors' investment horizons have a significant negative association with the managerial myopia. Also, based on the result of the second hypothesis, we find that short-term investment horizons have a positive and significant association the managerial myopiahttps://journal.seo.ir/article_11247_bdcb2877277733ead934aec9e4c9853b.pdfinstitutional investors' horizonsmanagerial myopialong-term investors' investment horizonsshort -term investors' investment horizons |
| spellingShingle | Hasan Valiyan mehdi safarigerayli Yasser Rezaei pitenoei (Ph.D) Institutional Investors' Horizons and Managerial Myopia فصلنامه بورس اوراق بهادار institutional investors' horizons managerial myopia long-term investors' investment horizons short -term investors' investment horizons |
| title | Institutional Investors' Horizons and Managerial Myopia |
| title_full | Institutional Investors' Horizons and Managerial Myopia |
| title_fullStr | Institutional Investors' Horizons and Managerial Myopia |
| title_full_unstemmed | Institutional Investors' Horizons and Managerial Myopia |
| title_short | Institutional Investors' Horizons and Managerial Myopia |
| title_sort | institutional investors horizons and managerial myopia |
| topic | institutional investors' horizons managerial myopia long-term investors' investment horizons short -term investors' investment horizons |
| url | https://journal.seo.ir/article_11247_bdcb2877277733ead934aec9e4c9853b.pdf |
| work_keys_str_mv | AT hasanvaliyan institutionalinvestorshorizonsandmanagerialmyopia AT mehdisafarigerayli institutionalinvestorshorizonsandmanagerialmyopia AT yasserrezaeipitenoeiphd institutionalinvestorshorizonsandmanagerialmyopia |