International Journal of Finance & Managerial Accounting

International Journal of Finance & Managerial Accounting

Investigating the Asymmetric Effects of Investor Sentiments, Economic Sanctions and Shareholders' Ownership Structure on The Level of Investment in Iran's Stock Exchange: Quantile Regression Approach

Document Type : Original Article

Authors
Rahman Doostian 1
Nastaran Kavosh 2
1 Assistant Professor of Accounting Department, Khorramabad Branch, Islamic Azad University, Khorramabad, Iran.
2 Master of Accounting Department, Khorramabad Branch, Islamic Azad University, Khorramabad, Iran.
10.22034/ijfma.2025.77885.2165
Abstract
Background: The main purpose of this research was to investigate the impact of investor sentiments and shareholders' ownership structure on the company's investment level in the Tehran Stock Exchange.
Methodology: The current research was applied in terms of purpose, correlational in nature and content. The statistical population of this research was all the companies admitted to the Tehran Stock Exchange. Finally, 136 companies were selected as research samples. In order to collect data, the reports of the board of directors of the companies were used on the information technology management site of the Stock Exchange Organization and the Kodal site. In order to test the hypotheses, regression model (combined data), Limer's F test and Hausman test were used; Finally, the model has been estimated.
Findings: The results showed that the company's investment level has an effect on investor sentiments. It was also found that by controlling the investor's emotions, retail ownership affects the level of investment.
Conclusion: These results contain very important policy implications regarding the level of investment in the investigated companies.
Keywords
Investor sentiments, Economic sanctions, Shareholder ownership structure, Level of investment
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