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zareie, ali, Darabi, Roya, najafimoghadam, ali. (1399). The Effect of Fundamental Variables on the Formation of Herding Behavior in the Iranian Capital Market. , 6(20), 11-26.
ali zareie; Roya - Darabi; ali najafimoghadam. "The Effect of Fundamental Variables on the Formation of Herding Behavior in the Iranian Capital Market". , 6, 20, 1399, 11-26.
zareie, ali, Darabi, Roya, najafimoghadam, ali. (1399). 'The Effect of Fundamental Variables on the Formation of Herding Behavior in the Iranian Capital Market', , 6(20), pp. 11-26.
zareie, ali, Darabi, Roya, najafimoghadam, ali. The Effect of Fundamental Variables on the Formation of Herding Behavior in the Iranian Capital Market. , 1399; 6(20): 11-26.

The Effect of Fundamental Variables on the Formation of Herding Behavior in the Iranian Capital Market

International Journal of Finance & Managerial Accounting
دوره 6، شماره 20، اردیبهشت 2021، صفحه 11-26  XML اصل مقاله (707.09 K)
نوع مقاله: Original Article
نویسندگان
ali zareie1؛ Roya - Darabi email 2؛ ali najafimoghadam3
1Ph.D. Student of Accounting, South Tehran Branch, Islamic Azad University, Tehran, Iran
2Associate Professor, Department of Accounting, South Tehran Branch, Islamic Azad University, Tehran, Iran
3Assistant Professor , Department of Accounting ,South Tehran Branch, Islamic Azad University, Tehran, Iran
چکیده
In recent years, with the governance of behavioral finance paradigm and the standard national theories being challenged, due to their disability in explaining the observed anomalies in the capital market, financial researches have entered into a new intellectual era and in some of the researches, assumptions of modern financial economics have been challenged. One of these assumptions is the assumption that investors are logical and this is seriously challenged and several studies have been devoted to this issue. The purpose of this study is to investigate the effect of fundamental variables on the formation of herding behavior in the Iranian capital market. Experimental findings of the investigation of 110 companies listed on the Tehran Stock Exchange from 2009 to 2019 shows the formation of herding behavior in the Iranian capital market. The results of the present study also confirm that there is a positive and significant relationship between changes in the fundamental variables of accounting (changes in stock returns, changes in assets, changes in sales) and the formation of herding behavior in the Iranian capital market. Analyzing these results, it can be stated that changes in fundamental variables lead to the formation of unintentional herding behavior in the Iranian capital market.
کلیدواژه‌ها
Behavioral Finance؛ Changes in Stock Return؛ Asset Changes؛ Sales Changes؛ Herding Behavior
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