The Effect of Behavioral Factors, the Kind of Information and Transparency of Information on Investor's Behavior in Ahvaz Stock Exchange

Abstract

ABSTRACT—Today, given the atmosphere of the Iran & world's capital markets, analyzing behavioral factors that influence on the decisions of investors, is very important. This applied study, to evaluate the effect of behavioral factors (biorhythm mode, self-esteem, prestige & rational behavior) and so the kind of information (public & financial) and transparency of information on the investor's behavior, on a random sample of 292 shareholders & investors in the Ahvaz stock exchange. Collecting data is through the questionnaires and method of data analysis, modeling structural equation using by SPSS & SMART PLS software. The results show that the kind of information and behavioral factors, influence on the behavior of individuals to invest in the stock market significantly. But, significant relationship between transparency of information and investor's behavior was not confirmed.