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Perceived risks of individual investors in the capital market: the antecedences and consequences

Author

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  • Amir Reza Konjkav Monfared
  • Saeed Fathi
  • Bahram Ranjbarian

Abstract

Perceived risks are important in investment decision-making. This is why the present study aims to investigate the antecedents and consequences of the perceived risks in the capital market. Accordingly, a conceptual model was developed and tested among the individual investors who invested in Tehran Stock Exchange through brokerage firms. The model was developed and tested in two steps. The first step involved the identification of those factors which are effective in forming the perceived risks among individuals. In the second step, the consequences of perceived risks were recognised. The findings revealed that self-efficacy, trust, perceived quality, risk propensity, and investor knowledge are the main predictors of perceived risks in Tehran Stock Exchange. In addition, our findings indicated that the perceived risks have a negative effect on the investment intention. Finally, our findings revealed that perceived risks of individual investors have an indirect effect on the investment intention through information search and attitude.

Suggested Citation

  • Amir Reza Konjkav Monfared & Saeed Fathi & Bahram Ranjbarian, 2017. "Perceived risks of individual investors in the capital market: the antecedences and consequences," International Journal of Business Innovation and Research, Inderscience Enterprises Ltd, vol. 14(2), pages 259-278.
    • Handle: RePEc:ids:ijbire:v:14:y:2017:i:2:p:259-278
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    Cited by:

    1. Poier, Stefan, 2023. "A matter of risk? Investigating the battery purchase decision in the German photovoltaics market," Energy, Elsevier, vol. 275(C).

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