Studying the Relationship between Behavioral Biases of Investors and Their Investment Decisions in Tehran Stock Exchange
The main purpose of this study is investigating the relationship between some behavioral biases such as self control and optimism, self-attribution, illusion of control, conservatism and ambiguity aversion with investing decisions of Tehran Stock Exchange’s investors; thus, when faced with these kin...
| Main Authors: | , , |
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| Format: | Article |
| Language: | fas |
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Alzahra University
2014-12-01
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| Series: | راهبرد مدیریت مالی |
| Subjects: | |
| Online Access: | http://jfm.alzahra.ac.ir/article_1811_c75b92fdfd6e15a4d7296f1d0c073a00.pdf |
| _version_ | 1819135626972233728 |
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| author | Elham Hosseini Chegeni Behnaz Haghgoo Leila Rahmaninejad |
| author_facet | Elham Hosseini Chegeni Behnaz Haghgoo Leila Rahmaninejad |
| author_sort | Elham Hosseini Chegeni |
| collection | DOAJ |
| description | The main purpose of this study is investigating the relationship between some behavioral biases such as self control and optimism, self-attribution, illusion of control, conservatism and ambiguity aversion with investing decisions of Tehran Stock Exchange’s investors; thus, when faced with these kinds of biases, investors may not be misled. The statistical population included all investors (shareholders) of Tehran Stock Exchange as real entities for the period of 2010 to 2012. The research sample was estimated using Cochran formula to include 384 people. Then, a questionnaire was designed and given to them to fill it out. Subsequently, hypotheses were tested using structural equation modeling (SEM) and Pearson correlation. Findings show that the elusion has a significant relationship with investors' investing decisions. Also the result indicate there is a significant relationship between self control and optimism, self-attribution, illusion of control and conservatism biases and investors' decision making process at Tehran Stock Exchange; meanwhile ambiguity aversion has shown no significant and positive impact on investors' investing decisions. |
| first_indexed | 2024-12-22T10:22:05Z |
| format | Article |
| id | doaj.art-edac9e42b3694cdb901a9c12f8b6e6b1 |
| institution | Directory Open Access Journal |
| issn | 2345-3214 2538-1962 |
| language | fas |
| last_indexed | 2024-12-22T10:22:05Z |
| publishDate | 2014-12-01 |
| publisher | Alzahra University |
| record_format | Article |
| series | راهبرد مدیریت مالی |
| spelling | doaj.art-edac9e42b3694cdb901a9c12f8b6e6b12022-12-21T18:29:36ZfasAlzahra Universityراهبرد مدیریت مالی2345-32142538-19622014-12-012411313310.22051/jfm.2014.18111811Studying the Relationship between Behavioral Biases of Investors and Their Investment Decisions in Tehran Stock ExchangeElham Hosseini Chegeni0Behnaz Haghgoo1Leila Rahmaninejad2gilan universitygilan universitysistan va balochestan universityThe main purpose of this study is investigating the relationship between some behavioral biases such as self control and optimism, self-attribution, illusion of control, conservatism and ambiguity aversion with investing decisions of Tehran Stock Exchange’s investors; thus, when faced with these kinds of biases, investors may not be misled. The statistical population included all investors (shareholders) of Tehran Stock Exchange as real entities for the period of 2010 to 2012. The research sample was estimated using Cochran formula to include 384 people. Then, a questionnaire was designed and given to them to fill it out. Subsequently, hypotheses were tested using structural equation modeling (SEM) and Pearson correlation. Findings show that the elusion has a significant relationship with investors' investing decisions. Also the result indicate there is a significant relationship between self control and optimism, self-attribution, illusion of control and conservatism biases and investors' decision making process at Tehran Stock Exchange; meanwhile ambiguity aversion has shown no significant and positive impact on investors' investing decisions.http://jfm.alzahra.ac.ir/article_1811_c75b92fdfd6e15a4d7296f1d0c073a00.pdfBehavioral FinanceBehavioral biasInvestorsStock Exchange |
| spellingShingle | Elham Hosseini Chegeni Behnaz Haghgoo Leila Rahmaninejad Studying the Relationship between Behavioral Biases of Investors and Their Investment Decisions in Tehran Stock Exchange راهبرد مدیریت مالی Behavioral Finance Behavioral bias Investors Stock Exchange |
| title | Studying the Relationship between Behavioral Biases of Investors and Their Investment Decisions in Tehran Stock Exchange |
| title_full | Studying the Relationship between Behavioral Biases of Investors and Their Investment Decisions in Tehran Stock Exchange |
| title_fullStr | Studying the Relationship between Behavioral Biases of Investors and Their Investment Decisions in Tehran Stock Exchange |
| title_full_unstemmed | Studying the Relationship between Behavioral Biases of Investors and Their Investment Decisions in Tehran Stock Exchange |
| title_short | Studying the Relationship between Behavioral Biases of Investors and Their Investment Decisions in Tehran Stock Exchange |
| title_sort | studying the relationship between behavioral biases of investors and their investment decisions in tehran stock exchange |
| topic | Behavioral Finance Behavioral bias Investors Stock Exchange |
| url | http://jfm.alzahra.ac.ir/article_1811_c75b92fdfd6e15a4d7296f1d0c073a00.pdf |
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