International Journal of Finance & Managerial Accounting

International Journal of Finance & Managerial Accounting

Identifying and Evaluating Effective Factors and Behavioral Consequences of Investors for Risk Management of Investment Portfolio

Document Type : Original Article

Authors
Mohammad Mahdi Rezazadeh Chari 1
Mohsen Hamidian 2
Roya Darabi 2
1 PhD student in financial management, Faculty of Economics and Accounting, South Tehran Branch, Islamic Azad University, Tehran, Iran
2 Associate Professor, Department of Accounting, Faculty of Economics and Accounting, South Tehran Branch, Islamic Azad University, Tehran, Iran
10.22034/ijfma.2025.77912.2173
Abstract
Background: The present study aimed to identify and evaluate the effective factors and behavioral consequences of investors for risk management of investment portfolio.
Methodology: The research method is applied in terms of purpose and descriptive-survey in terms of research type. The statistical population of the research consists of 384 managers of investment companies in financial markets who were selected using the Cochran formula and stratified cluster sampling method. In this research, a researcher-made questionnaire was used to collect data, and the reliability and validity of the questionnaire were also investigated and confirmed. Statistical tests and measurement models were used to analyze the data. The software used in descriptive and inferential statistics and SPSS and SmartPLS software were used.
Findings: Based on the obtained results, the axial phenomenon includes the components of the tendency to deviate from rational behavior, the tendency to take risks, the tendency to monopolize, and the tendency to self-misunderstanding. Also, the causal conditions include the components of social factors, technical factors, financial factors, psychological factors and legal factors.
Conclusion: Consequences include components of financial consequences and non-financial consequences. All relationships between model components are also significant.
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