Motivating Factors of Individual Investors in a Bear Market
Keywords:
Individual investors, financial crisis, bear market, behavioral biasAbstract
The purpose of this study was to examine the motivating factors influencing individual investors in a bear market. Transactional data from 2,500 individual investors were collected from a major brokerage and technology company affiliated with the Tehran Stock Exchange over the period 2019–2021. Ultimately, data from 657 investors were extracted for analysis. The collected data were processed using Microsoft Excel and analyzed using EViews version 11. The results indicated that individual investors’ personality traits significantly affect their trading behavior in the Iranian stock market. Past trading performance also influences the trading behavior of individual investors in the Iranian stock market. Furthermore, stocks with specific characteristics affect the trading behavior of individual investors in the Iranian stock market, and gambling behavior significantly influences the trading behavior of individual investors in the Iranian stock market.
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Copyright (c) 2025 Heshmatolah Asadi Zeidabadi (Author); Seyyed Ali Vaez; Seyed Aziz Arman, Babak Abedi Sadaghiani (Author)
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.
