Impact of Investors' Emotional Decision on Occurrence of Crisis in Tehran Stock Market

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Golarzi Gholamhossein; Piri Salimeh

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Journal Paper

Paper Information

Journal: JOURNAL OF FINANCIAL MANAGEMENT STRATEGY Year:2022 | Volume:10 | Issue:37 Page(s): 99-116

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Information Journal Paper

Title

Impact of Investors' Emotional Decision on Occurrence of Crisis in Tehran Stock Market

Author(s)

Golarzi Gholamhossein | Piri Salimeh | Issue Writer Certificate

Keywords

Investor Sentiment

Behavioral Finance

Stock Market Crise

Abstract

Introduction: The stock market crisis is an important subject to all market participants. Shiller (1987) finds that a stock market crisis is caused by a change in Investor Sentiment. One of the paramount issues in Behavioral Finance is the investors' sentiment and its effect on the stock prices. That means financial decisions, like other decisions, are partly exposed to investors' emotions. The impact of emotions on financial decisions is somewhat undeniable, but sometimes because of fear, agitation, and greed, its effect may be higher than usual. In general, whenever investors become over-optimistic, the stock prices rise too much and bubbles form. When prices start to correct, a market crisis appears. In addition to Investor Sentiment, other economic variables such as interest rates, inflation, GDP, and the P/E and ROA ratios, explain the crisis in the stock market. Brown and Cliff (2005) believe that stock prices tend to be overvalued when Investor Sentiment is high. As their expectations are not met, prices begin to revert toward intrinsic value, and with falling securities prices, a crisis in the market may occur...

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APA: Copy

Golarzi, Gholamhossein, & Piri, Salimeh. (2022). Impact of Investors' Emotional Decision on Occurrence of Crisis in Tehran Stock Market. JOURNAL OF FINANCIAL MANAGEMENT STRATEGY, 10(37 ), 99-116. SID. https://sid.ir/paper/1051107/en

Vancouver: Copy

Golarzi Gholamhossein, Piri Salimeh. Impact of Investors' Emotional Decision on Occurrence of Crisis in Tehran Stock Market. JOURNAL OF FINANCIAL MANAGEMENT STRATEGY[Internet]. 2022;10(37 ):99-116. Available from: https://sid.ir/paper/1051107/en

IEEE: Copy

Gholamhossein Golarzi, and Salimeh Piri, “Impact of Investors' Emotional Decision on Occurrence of Crisis in Tehran Stock Market,” JOURNAL OF FINANCIAL MANAGEMENT STRATEGY, vol. 10, no. 37 , pp. 99–116, 2022, [Online]. Available: https://sid.ir/paper/1051107/en

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