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Paper Information

Journal:   FINANCIAL RESEARCH   spring 2018 , Volume 20 , Number 1 ; Page(s) 75 To 90.
 
Paper: 

Studying the Effect of Investors’ Personality on their Business Behavior and Investment Performance: Evidences of Tehran Stock Exchange

 
 
Author(s):  Jamshidi Naser*, Ghalibaf Asl Hassan
 
* Faculty of Management and Accounting, University of Shahid Beheshti, Tehran, Iran
 
Abstract: 
Objective: To date, the main source of inspiration for behavioral finance scholars has been cognitive psychology. This study builds on this tradition by merging in insights from yet another psychological sub-discipline: personality psychology. We argue that a human being’ s personality is a key determinant of his/her behavior and performance. We illustrate, for a subset of five personality traits (locus of control, maximizing tendency, self-monitoring, sensation seeking and type-A/B behavior), how this logic can be applied in the context of the study of traders’ behavior and performance. Methods: we investigated the behavioral and functional components of 380 individual investors in the stock market using survey method and collecting the questionnaire. Results: The results suggested that Investors with an external locus of control, type-A behavior and high maximizing tendency are busy working on trading more frequently. Investors with an external locus of control, high sensation seeking and high selfmonitoring have a less diverse portfolio. Finally, the frequency of transactions is related to better performance, while portfolio diversification does not affect the performance of the individuals. Conclusion: Different personality traits affect distinct components of trading behavior, and so trading performance.
 
Keyword(s): Personality,Investor behavior,Investor performance,Portfolio diversification,Trading frequency
 
 
References: 
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Cite:
APA: Copy

JAMSHIDI, N., & GHALIBAF ASL, H. (2018). Studying the Effect of Investors’ Personality on their Business Behavior and Investment Performance: Evidences of Tehran Stock Exchange. FINANCIAL RESEARCH, 20(1 ), 75-90. https://www.sid.ir/en/journal/ViewPaper.aspx?id=654976



Vancouver: Copy

JAMSHIDI NASER, GHALIBAF ASL HASSAN. Studying the Effect of Investors’ Personality on their Business Behavior and Investment Performance: Evidences of Tehran Stock Exchange. FINANCIAL RESEARCH. 2018 [cited 2021April19];20(1 ):75-90. Available from: https://www.sid.ir/en/journal/ViewPaper.aspx?id=654976



IEEE: Copy

JAMSHIDI, N., GHALIBAF ASL, H., 2018. Studying the Effect of Investors’ Personality on their Business Behavior and Investment Performance: Evidences of Tehran Stock Exchange. FINANCIAL RESEARCH, [online] 20(1 ), pp.75-90. Available: <https://www.sid.ir/en/journal/ViewPaper.aspx?id=654976>.



 
 
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