Investigating the Relationship between Investors' Tendencies in the Insurance Industry with Emphasis on the Psychological Model

Hemati, Yaghoub; Khademi Garashi, Mahdi; Daghigh Asl, Alireza

doi:10.22034/jvcbm.2025.501057.1486

Investigating the Relationship between Investors' Tendencies in the Insurance Industry with Emphasis on the Psychological Model

Document Type : Original Article (Quantified)

Authors

yaghoub hemati ¹

mahdi khademi garashi ²

alireza daghigh asl ³

¹ PhD student in Finance-Insurance, Department of Management, Faculty of Economics and Management, Tehran Research Sciences Branch, Islamic Azad University, Tehran, Iran

² Visiting Associate Professor, Faculty of Management and Economics, Science and Research Branch, Islamic Azad University, Tehran, Iran

³ Assistant Professor, Department of Economics and Accounting, Faculty of Management and Accounting, Central Tehran Branch, Islamic Azad University, Tehran, Iran

https://doi.org/10.22034/jvcbm.2025.501057.1486

Abstract

The purpose of this research is to investigate the relationship between investors' tendencies in the insurance industry with an emphasis on the psychological model. The present research is applied in terms of purpose and descriptive-survey in terms of nature. The statistical population consists of 140 investors and capital market activists who were selected by random sampling method. A questionnaire taken from the qualitative section was used to collect research data. Data analysis was performed using SPSS and Lisrel statistical software. Based on the findings of the qualitative section, four dimensions of perceptual factors, economic factors, emotional factors, and control factors were obtained. Therefore, the results showed that the variables and influential factors in this research, after reviewing past studies and interviewing experts, include perceptual factors, economic factors, emotional factors, and control factors. Based on the results of the structural equation testing and the obtained statistics, it can be seen that the coefficients of all factors have a significant effect on the final model and the effect of all factors on the structural-process pattern of investors' tendencies in the insurance industry with an emphasis on psychological factors is confirmed.

Keywords

psychological factors

market sentiment

investor sentiment

behavioral bias

Subjects