ﺗﺒﯿﯿﻦ اﻟﮕﻮي ﻣﻨﺎﺳﺐ ﻗﺪرت رﯾﺴﮏﭘﺬﯾﺮي ﺳﺮﻣﺎﯾﻪﮔﺬاران ﺑﺮ اﺳﺎس وﯾﮋﮔﯽﻫﺎي ﺷﺨﺼﯿﺘﯽ

Explaining the Appropriate Model of Investors Risk Power Based on Personality Characteristics

ﻋﺎﻣﻼن اﻗﺘﺼﺎدي ﺑﺮ ﺧﻼف ﻧﻈﺮﯾﻪﻫﺎي ﻧﺌﻮﮐﻼﺳﯿﮏ ﻣﻨﻄﻘﯽ ﻧﯿﺴﺘﻨﺪ و ﺑﻪ ﺧﺎﻃﺮ ﺗﺮﺟﯿﺤﺎﺗﺸﺎن ﯾﺎ ﺑﻪ دﻟﯿﻞ ﺧﻄﺎﻫﺎي ﺷﻨﺎﺧﺘﯽ، ﮐﺎﻣﻼً ﻋﻘﻼﯾﯽ رﻓﺘﺎر ﻧﻤﯽﮐﻨﻨﺪ. ﻋﻮاﻣﻞ ﻏﯿﺮ ﻋﻘﻼﯾﯽ ﻫﻤﭽﻮن وﯾﮋﮔﯽﻫﺎي ﺷﺨﺼﯿﺘﯽ، ﻓﺮﻫﻨﮓ، دﯾﻦ و اﯾﺪﺋﻮﻟﻮژي اﺣﺴﺎﺳﺎت، ﻧﻈﺮات دﯾﮕﺮان و. از ﺟﻤﻠﻪ ﻋﻮاﻣﻠﯽ ﻫﺴﺘﻨﺪ ﮐﻪ ﻧﻘﺶ ﺑﻪ ﺳﺰاﯾﯽ در رﻓﺘﺎر و ﻋﮑﺲاﻟﻌﻤﻞ اﻓﺮاد در ﻣﻮﻗﻌﯿﺖﻫﺎي ﻣﺨﺘﻠﻒ ﺗﺼﻤﯿﻢﮔﯿﺮي دارﻧﺪ ﻟﺬا ﻫﺪف اﯾﻦ ﭘﮋوﻫﺶ ﺗﺒﯿﯿﻦ اﻟﮕﻮي ﻣﻨﺎﺳﺐ ﻗﺪرت رﯾﺴﮏﭘﺬﯾﺮي ﺳﺮﻣﺎﯾﻪﮔﺬاران ﺑﻮرس ﺑﺮ اﺳﺎس وﯾﮋﮔﯽﻫﺎي ﺷﺨﺼﯿﺘﯽ ﺑﺎ اﺳﺘﻔﺎده از روﯾﮑﺮد ﺗﺤﻠﯿﻞ ﻋﺎﻣﻠﯽ اﮐﺘﺸﺎﻓﯽ و ﻣﺪﻟﺴﺎزي ﻣﻌﺎدﻻت ﺳﺎﺧﺘﺎري ﻣﯽﺑﺎﺷﺪ. اﯾﻦ ﺗﺤﻘﯿﻖ از ﻧﻈﺮ ﻫﺪف، ﭘﮋوﻫﺸﯽ ﮐﺎرﺑﺮدي و در دﺳﺘﻪ ﺗﺤﻘﯿﻖﻫﺎي ﻋﻠّﯽ ﻗﺮار دارد ﺟﺎﻣﻌﻪي ﻣﻮرد ﭘﮋوﻫﺶ ﺷﺎﻣﻞ ﺧﺒﺮﮔﺎن و ﺳﺮﻣﺎﯾﻪﮔﺬاران ﺑﻮده ﮐﻪ ﺑﺮاي ﺷﻨﺎﺳﺎﯾﯽ ﺷﺎﺧﺺﻫﺎ از ﭘﺮﺳﺸﻨﺎﻣﻪ 35 ﺳﺆاﻟﯽ اﺳﺘﻔﺎده ﺷﺪ ﮐﻪ ﭘﺲ از ﺗﺄﯾﯿﺪ رواﯾﯽ و ﭘﺎﯾﺎﯾﯽ ﺟﻬﺖ ﺟﻤﻊآوري دادهﻫﺎ ﻣﻮرد اﺳﺘﻔﺎده ﻗﺮار ﮔﺮﻓﺖ. ﺑﺮاي ﺗﺠﺰﯾﻪوﺗﺤﻠﯿﻞ دادهﻫﺎ از ﺗﺤﻠﯿﻞ ﻋﺎﻣﻠﯽ اﮐﺘﺸﺎﻓﯽ و ﺗﺎﺋﯿﺪي اﺳﺘﻔﺎده ﺷﺪه اﺳﺖ. ﺑﺎ ﺗﻮﺟﻪ ﺑﻪ ﺗﺠﺰﯾﻪوﺗﺤﻠﯿﻞ دادهﻫﺎ ﯾﺎﻓﺘﻪﻫﺎ و اﻃﻼﻋﺎت آﻣﺎري اﯾﻦ ﭘﮋوﻫﺶ ﻧﺸﺎن ﻣﯽدﻫﺪ ﮐﻪ ﭼﻬﺎر ﺑﻌﺪ از زﯾﺮ ﻋﺎﻣﻞﻫﺎي ﺷﺨﺼﯿﺖ ﺑﺮ رﯾﺴﮏﭘﺬﯾﺮي ﺳﺮﻣﺎﯾﻪﮔﺬاران ﺗﺄﺛﯿﺮ ﻣﺜﺒﺖ و ﻣﻌﻨﺎدار دارد ﻟﺬا ﻣﯽﺗﻮان ﻧﺘﯿﺠﻪ ﮔﺮﻓﺖ ﺑﯿﻦ ﺷﺨﺼﯿﺖ و رﯾﺴﮏﭘﺬﯾﺮي ﺳﺮﻣﺎﯾﻪﮔﺬاران راﺑﻄﻪ ﻗﻮي وﺟﻮد دارد؛ ﮐﻪ در راﺳﺘﺎي ﻧﺘﺎﯾﺞ ﭘﮋوﻫﺶ ﺣﺎﺿﺮ ﻣﯽﺑﺎﺷﺪ.

Economic agents are not rational against neoclassical theories, and do not act rationally because of their preferences or because of cognitive errors. Unreasonable factors such as personality traits, culture, religion and ideology of emotions, opinions of others and so on. Among the factors that play an important role in the behavior and reaction of individuals in different decision making situations, the purpose of this study is to explain the appropriate model of stock investor risk-taking power based on personality characteristics using exploratory factor analysis and structural equation modeling. The purpose of this study is applied research and is in the category of causal research. The research population included experts and investors who used a 35-item questionnaire to identify the indices that were validated and validated after data collection. Was used. Exploratory and confirmatory factor analysis was performed using SPSS software (PLS) for data analysis. According to the data analysis, the findings and statistical data of this study show that the four dimensions of personality sub-factors have a significant and positive effect on investor risk-taking, so it can be concluded that the personality and risk-taking of investors can be concluded. There is a strong relationship with the results of the present study.