Identifying the Underlying Factors of Emotional Behavior in Iran's Capital Market

Abstract

Due to the prominence of the capital market as a financing source for the country's industries and the problems of emotional behavior in investment, the key aim of this study is to recognize the underlying factors, causes, and challenges of emotional behavior and to identify management strategies for emotional behavior in Iran's capital market. The statistical population of the present study consists of professors, experts, and specialists in the field of managing emotional behavior and investing in the capital market, as well as real shareholders with experience, who were selected by purposive sampling and with maximum diversity until reaching theoretical saturation of 12 people. In this study, it was tried to analyze the data achieved from the interview by using Clarke and Braun's six-stage thematic analysis qualitative research method and by using open, central, and selective coding. Regarding the attained results, 16 main themes were identified for the underlying factors of emotional behavior and 8 main themes were identified for the causes of emotional behavior. The studied sample achieved results analysis indicate that 6 main strategies have been identified for managing emotional behavior, which are: awareness, independence of action, market orientation, insurance tools, problem-solving and correct decision-making, and emotion control.