Management Science Letters, Volume (2), No (9), Year (2012-9) , Pages (3041-3048)

Title : ( Investigating cultural influences on investment process in stock exchange )

Authors: Shamsodin Nazemi , Fariborz Rahimnia , Mohammad Mehraeen , morteza ghayour ,

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Cultural variety is a behavioral characteristic of investors and evaluating the cultural influences in the area of financial management on the decisions of investors plays an important role. In fact, different behaviors and decisions are required in various cultures facing the prices, price fluctuations and important or non-important published news of portfolio. In this paper, a questionnaire was designed including 22 cultural items in three criteria of values, facilities and behavior in order to measure the cultural factors affecting investment in stock exchange. Experts’ comments were used on the design of items and quintet Likert spectrum was applied for the answers. Structural equation modeling, or multivariable analysis with latent variables, is a comprehensive statistical approach for testing the hypotheses about relationships between observed and latent variables. Such analyzes have been done by LISREL software and the results showed that there was a significant relationship between investment and its triple factors and also between the items and triple factors affecting on investment.


, Behavior of Investors, Investment Culture, Cultural Factors
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author = {Nazemi, Shamsodin and Rahimnia, Fariborz and Mehraeen, Mohammad and Ghayour, Morteza},
title = {Investigating cultural influences on investment process in stock exchange},
journal = {Management Science Letters},
year = {2012},
volume = {2},
number = {9},
month = {September},
issn = {1923-9335},
pages = {3041--3048},
numpages = {7},
keywords = {Behavior of Investors; Investment Culture; Cultural Factors},


%0 Journal Article
%T Investigating cultural influences on investment process in stock exchange
%A Nazemi, Shamsodin
%A Rahimnia, Fariborz
%A Mehraeen, Mohammad
%A Ghayour, Morteza
%J Management Science Letters
%@ 1923-9335
%D 2012