Investigation of khorasan razavi investor’s decision making model with emphasis on cultural components based on phenomenography strategy

Cultural variety is a behavioral bias of people. Influences such as value system, beliefs and cultural assumptions affective constructs in behavior and decision making. Exploration of behavioral factors and investigation of investor‟s decision making model with emphasis on cultural characteristics is the main core scope of this article.Basic assumptions are elucidated from literature review and relevant researches. The mixed method research design was selected and operated In order to progress the research at the qualitative and quantitative parts. At the qualitative part, semi structured in-depth interviews were conducted with behavioral decision making experts considerating phenomenography strategy. Data from the interviews were analyzed using content analysis method according to which the questionnaire was designed. At this stage, the survey strategy was conducted, and then 500 questionnaires were distributed as available sampling method and 316 completed questionnaires were collected. The data from questionnaires with SPSS and Amos Graphics software using structural equation modeling (path analysis) were analyzed.

Keywords:

Decision making , Investors , Behavioral finance biases , Cognitive biases , Emotional biases