(بررسی رفتار سرمایه‌گذاری اشخاص حقیقی و حقوقی در بورس اوراق بهادار تهران، در شرایط تحریم (با تمرکز بر سرمایه‌گذاری استراتژیک در شرایط عدم اطمینان

Translated title of the contribution: Natural Persons and Corporate Person-hoods’ Investment Behavior in Tehran Stock Exchange, in Time of Sanctions (With Concentration on Strategic Investment in Uncertainty)

Ardalan Sameti*

*Corresponding author for this work

Research output: ThesisMaster (Coursework) Thesis

Abstract

In consideration of increasing intensity of international sanctions in recent years, investors of Tehran Stock Exchange these days are facing the concept of risk and uncertainty much more than past years. These sanctions’ impacts cause additional ambiguity and uncertainty, which will change investor behavior. In comprehensive words, investor behavior is dependent on several factors.In this survey, the term“investors’ behavior” is equivalent to investors understanding of environmental uncertainty and strategic investments. So to speak, investor’s knowledge level of modern scientific theories "theories such as prospect theory, cumulative prospect theory, real options theory and behavioral finance topics" in terms of environmental uncertainty is investigated. That is to say, in case the investors believe the economic environment (the investment environment) is uncertain, they should have inclination to learn new ways of strategic investment under uncertainty, inroder to behave (decide and act) relatively optimal to achieve desirable profit. This survey results indicate although, the natural and legal investors believe the level of uncertainty is high in current economic environment, effect of this uncertainty on their tendency to learn and apply more modern methods of strategic investments under uncertainty situation and controlling behavioral biases was not proved.

In this survey, descriptive and inferential statistics methods were employed for data analysis. to verify the hypotheses, the Spearman correlation test and for describing the behavior of investors, one-sample T-test, and for comparing legal and natural investors, considering independence of them, the two-sample T-test were used. Besides, to rank the factors the Friedman test, to determine the relationship between variables in the general information questionnaire; where a variable is of combinational and Polyhedral type and another variable is of nominal two- sided type, the Cramer's V test were used.
Translated title of the contributionNatural Persons and Corporate Person-hoods’ Investment Behavior in Tehran Stock Exchange, in Time of Sanctions (With Concentration on Strategic Investment in Uncertainty)
Original languagePersian
QualificationMaster of Science
Awarding Institution
  • University of Science and Culture
Supervisors/Advisors
  • Nourbakhsh, Hassan, Supervisor, External person
Award date25 Jan 2014
Publication statusUnpublished - 25 Jan 2014
Externally publishedYes

Keywords

  • Strategic investment
  • Investment behaviour
  • Behavioural finance
  • Prospect Theory
  • Cumulative prospect Theory
  • Real option Theory
  • Uncertainty
  • Behavioural biases

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