Designing a biorhythm cycle model in investigating the biorhythm of capital market investors

Document Type : Original Article


1 Graduated from the doctoral course in accounting, Zanjan Branch, Islamic Azad University, Zanjan, Iran

2 Assistant Professor of Accounting Department, Zanjan Branch, Islamic Azad University, Zanjan, Iran

3 Associate Professor of Accounting Department, Zanjan Branch, Islamic Azad University, Zanjan, Iran



The purpose of the current research was to draw and test an analytical model to explain the impact of the biorhythm cycle on capital market investment and to examine and explain the relationship between the biorhythm cycle and the cognitive characteristics of capital market investors. The main question has been whether the state of the human biorhythm is related to their decision making in the stock market and whether it follows a certain pattern or not. The research method, from the perspective of the result of the implementation, was an applied research, and from the perspective of the implementation process, it was quantitative and survey. The subject area of the research was to investigate the relationship between the biorhythm of capital market investors and their cognitive functions, the spatial area of Tehran capital market investors and the time area of 2018-2019.Keywords: biorhythm, biorhythm cycle model, investor biorhythm, capital market. The statistical population included all the investors of the capital market of Tehran and the research sample included 384 investors of the capital market of Tehran. After collecting the biorhythm status questionnaire, Kolmogorov-Smirnov test, ANOVA test and Pearson correlation were used to analyze the data. The findings of the research show that there is a significant relationship between the physical, mental and emotional dimensions of biorhythm with the decisions of capital market investors. In sum, a significant relationship was observed between capital market investors' decisions and their biorhythm status, which is in line with the results of previous research.


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