The Real Investors Decision Making Model in the Stock Exchange

This study is an attempt to develop the scientific literature on factors influencing real investors’ decision making and offer a strategy to clarify their decisions in the Stock Exchange it, since understanding of real investors’ decision-making criteria which are accounted for amounting to fifty percent of the Stock Exchange’s trading volume and ninety percent of number of trades respectively. This can draw a framework for future modeling and define the Stock Exchange atmosphere more. In this research, after study of the subject literature and theoretical background, the theoretical saturation has been reached as well. Through applying Delphi research method, the whole comments and ideas of experts collected and leads to required convenient questionnaire.
This questionnaire has been distributed and collected among the four hundred people and the received data has been analyzed by using confirmatory factor analysis (CFA) and based on its results about dimensions, components and indexes, finally the model of Stock Exchange real investors’ decision making has been issued.