جستجوی مقالات مرتبط با کلیدواژه "ریسک گریزی" در نشریات گروه "مالی"

This Study Introduces psychometric and psychological tools and their application in assessing individual decisions. In the following, the ability of the BART, Balloon Analogue Risk Task, in predicting the financial risk-taking level is measured. To support this claim, active investors in Tehran Stock Exchange has taken the BART test and their risk-taking level is measured by the test variables. Accordingly, the activity of these tested examiners will be observed during the next year in the Tehran Stock Exchange. Assuming the Beta stability, the participants' portfolio Beta will be the indicators of their financial risk-taking and their investment decisions.The outcome of the Study shows a meaningful relationship between the gained scores of the BART test as a general risk-taking indicator and the examiners' portfolio Beta as a risk-taking indicator. These results show that we can rely on this test (BART) as a tool to predict the investors' behavior.

The capital market plays an important role in the economy of any country and can contribute to economic growth and development by financing the capital needed by manufacturing firms. Given the importance of the capital market, stock prices as the most important component of this market must be closely monitored, as a steady and dramatic decline in stock prices can lead to a crisis in the capital market. One of the key tools of capital market surveillance is an early warning system that can give policymakers pre-crisis warnings to minimize the negative effects of this phenomenon by making timely and accurate decisions. The purpose of this study is to investigate the role of risk preferences in the occurrence of crises in the Tehran Stock Exchange. For this purpose, in this study, firstly, using monthly data from April 2007 to July 2019, investors' risk aversion index was estimated and then this variable, along with other control variables, was used to modeling the capital market crisis. The results showed that the research model is able to predict approximately 78% of crisis situations and 95% of non-crisis situations. Empirical evidence suggests that the key role of investors' preferences for risk in the event of a capital market crisis.

The Purpose of this research is the investigation of relation between the investors' behavior and defining the effect of emotional quotient on decision making activity at the time of investing.For this objective, investment biases such as mental accounting, risk aversion, spread influence are taken into consideration.From Target and Method view of point, this research can be considered as Applied and Survey -Descriptive research respectively. Data of this research is collected through a questionnaire including 34 questions which distributed between 207 investment fund investors and analysis done via Lissrel software and Structural Equations.By testing the main hypothesis, the results clearly shows that there is a significant relation between emotional quotient, mental accounting and spread influence.

This study attempts to cross borders and disciplines of traditional approaches using interdisciplinary sciences to make the mental models of Iran's capital market applicable. Hence, this study using a variety of sciences in the context of financial discussions, presents an equilibrium theoretical framework in the stock market. The research method used a randomized dynamic path mapper within the framework of the Black Scholes model to simulate the stock price index of Tehran stock exchange behavior. Thus, the daily time series data of the stock price index has been used since December 2008 to August of 2017. The results indicate that simulation of long-term trend is provided to some extent. Although the model is excused of forecasting the crisis and volatilities along the period, the results of comparison test suggest that simulated data distribution forms are very close to actual data. In addition, laboratory results indicate that the decrease in risk aversion parameter and the ratio of liquidity to the shares held by investors make the simulated price index curve shift upward and downward respectively

One of the important factors for the success of venture capital markets is, the ability to make timely decisions and take away the feelings. Thus the aim of this study is to examine the third factor of successful capital market analysts or analyst’s personality characteristics. In other words, it is assumed in this study, analysts are specialist in fundamental and technical analysis and then influence their personality characteristics (the third dimension) is evaluated on their performance. Statistical population and the sample of this study consists of capital market analysts. Required data is collected by a combined questionnaire. The research hypotheses are tested using Pearson’s correlation tests. The results show that there is a significant correlation between extraversion features, Agreeableness, Consciousness and personal control to the degree of risk aversion, but no significant relationship was observed between personality characteristics and returns portfolios analysts. In addition, no significant relationship was observed between the type of fundamental analysis and technical analysts and degree of risk aversion.

Prospect theory first was created in 1979 by Kahneman and Tversky and got considered as the best explanation of risk assessment in laboratory environment. As the first use of the theory in laboratory circumstances, a question comes to mind whether the theory is applicable in non-laboratory environment? Thus, this research is going to discuss theory existence and its applicability, exploring real evidence. In this research Prospect theory use in Finance through internal and external review has described and some other areas have referred. Results show that the theory is an applicable one in non-laboratory environment according to studied researches in Finance and other areas.

Different types of financial institutions play an important role in financial intermediation and help to solve market deficiencies problems. Mutual funds are kinds of financial institutions that allocate investor's funds in different financial portfolios such as securities. In this mechanism profit or loss of investment divides between investors based on their portion of portfolios. Regarding to the importance of mutual funds for risk averse and non-professional persons, mutual funds manager's performance is very important. Regardless of all external factors that affect managers` performance, personal characteristics have significant effects on manager's decisions and performance. Therefore, this research investigates the relationship between Investment managers` risk aversion and the performance of financial institutions (specially mutual funds).In order to calculate the fund's performance, 4 indicators including return, portfolio risk, trading activity ratio and portfolio diversity were evaluated. In order to data analysis, first determine the effective variables through four indicators by principal component analysis method and then estimate relative OLS model. The results of this research indicate that there is a reverse significant relationship between the managers` risk aversion and mutual fund performance.