Maryam Nouraei; Ataalah Mohammadi Molgharni; Iraj Noravesh; Kaveh Bahman Pour
Abstract
The objective of the current survey was to excavate the effect of the rate of hormones in the blood, age, and gender on the financial behavior of managers. Also, preparing and propounding the neurofinance model of financial behaviors that have generated anomalies such as optimism in the market is other ...
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The objective of the current survey was to excavate the effect of the rate of hormones in the blood, age, and gender on the financial behavior of managers. Also, preparing and propounding the neurofinance model of financial behaviors that have generated anomalies such as optimism in the market is other intentions of this study. This research has been operated with an inductive approach and experimentally in a one-time period in a statistical population consisting of 37 male and female managers with an average age of 25-60 years. The amounts of the testosterone, free testosterone, cortisol T3, T4, and TSH were deliberate in a medical diagnostic laboratory with a blood test. Managers' optimism data were accumulated with a standardized questionnaire straight away afterward receiving the blood sample. The prepared data were analyzed with SPSS and LISREL and RSM software. The outcomes demonstrated that age has a significant inverse relationship with optimism. Free Testosterone; T4 and testosterone play an inverse role in optimism augmenting. Cortisol and T3 are straightly related to optimism. Also, financial behavior is further related to the dimension of optimism in women than men, and with growing older, optimism decreases. The significant effect of testosterone and cortisol, age and gender on optimism, confirmed the effect of these hormones on the financial behavior in other studies. The effect of testosterone and thyroid hormones on optimism was considered in this survey for the first time.
Fatemeh Ahmadi; Mehrdad Ghanbari; Babak Jamshidi Navid; Shahram Mami
Abstract
Nowadays, predicting the financial behavior of investors plays a crucial role in decision-making and the financial policy-making process. This study is aimed at providing a paradigm to predict the financial behavior of investors in Iran’s stock market. 24 experts were interviewed to identify the ...
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Nowadays, predicting the financial behavior of investors plays a crucial role in decision-making and the financial policy-making process. This study is aimed at providing a paradigm to predict the financial behavior of investors in Iran’s stock market. 24 experts were interviewed to identify the variables, and 24 variables were identified. The interpretive structural paradigming was carried out using a self-interaction matrix based on the experts’ opinions. The MICMAC analysis has been used to identify the types of the variables. As findings of the study, a five-level paradigm was determined, in which environmental factors and the background of financial behavior on the fifth level were the most influential variables and also arbitrage, bias, and the perceptual mistake were the most impressible variables of the paradigm on the first level. MICMAC analysis of this study suggested that the variable of environmental factors had low dependence and high efficacy. Furthermore, psychological projection, perceptual mistake, arbitrage, and bias are dependent variables with high dependence and low efficacy. Other variables are mediator variables with high dependence and effectiveness.