The effect of financial behavior, financial knowledge, financial attitude and individual-social factors on investors' behavior

Document Type : Original Article

Authors
Robabeh yosefnezhad 1
Esfandiar Malekian Kale Basti 2
1 Accounting PhD student, Faculty of Economic and Administrative Sciences, Mazandaran University, Mazandaran, Iran
2 Professor of Accounting Department, Faculty of Economic and Administrative Sciences, Mazandaran University, Mazandaran, Iran.
10.30495/jik.2025.23597
Abstract
In recent years, financial literacy has become a priority area in the world due to the complexity and globalization of financial markets. The aim of the current research is to investigate the impact of financial literacy in the dimensions of financial behavior, financial knowledge and financial attitude and individual-social factors on the behavior of investors. The research method is descriptive-analytical. The statistical population of the research is real shareholders in Tehran Stock Exchange and the sample size is 328 people determined through the Cochran formula. A standard (OECD) questionnaire was used to collect data, and structural equation model method was used to review and analyze the data. The research results show that there is a significant relationship between various factors and investors' behavior. Individual and social variables studied in this research show a significant correlation with investors' behavior. This shows that. These individual and social factors play an essential role in shaping the investor's decision-making process, which leads to more rational choices. And, the dimensions of financial literacy, that is, financial behavior, financial attitude and financial knowledge also have a significant impact on the behavior of investors. Financial behavior shows a positive influence on decision making. Financial attitude shows that it has an inverse relationship with investor behavior. Financial knowledge shows a significant positive influence on how investors make decisions in different situations. In sum, this research emphasizes the importance of social-individual variables and financial literacy in understanding and predicting investors' behavior
Keywords
investor behavior
financial attitude
financial knowledge
financial behavior
individual-social factors

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