The Influence of socio-cultural factors by role of mediator Trust on participation in the stock (Case Study: Iran Stock Market)

Subject Areas : Financial Knowledge of Securities Analysis

M. Ali Motafaker Azad ¹ (Professor, Department of Economics, Faculty of Economics, Management and Business, Tabriz University, Iran)
Hosein Asgharpour ² (Associate Professor, Department of Economics, Faculty of Economics, Management and Business, Tabriz University, Iran)
S. Abbas Mousavian ³ (Associate Professor, Department of Management and Islamic Education, Faculty of Management and Economics, Imam Sadiq University, Tehran, Iran)
Reza Ranjpour ⁴ (Associate Professor, Department of Economics, Faculty of Economics, Management and Business, Tabriz University, Iran)
Mohsen Amini Khouzani ⁵ (Ph.D. student of economics Faculty of Economics, Management and Business, Tabriz University, Iran)

Received: 2017-05-07 Accepted : 2017-11-22 Published : 2019-01-21

Keywords: participation in the stock, socio-cultural factors, Trust, optimism, ambiguity aversion, risk aversion,

Abstract :

This study aimed to investigate the influence of socio-cultural factors structure of participation in the stock, according to Securities and Exchange mediator of trust in Iran.The sample group consisted of 398 samples were selected based on random sampling. For statistical analysis of the correlation coefficient method, hierarchical regression and structural equation modeling (SEM) was used. The results show that although the test variables, socio-cultural factors influence of some variables such as beliefs, participation in stock or reject, such as education, income, and legislation is approved, but by examining the variables of trust, such as optimism, ambiguity aversion and risk aversion and direct and significant impact of these variables on participation in the exchange on the role of influential variables related to socio-cultural factors is stressed. The results of multiple regression analysis correlation and model the role of trust in the relationship between socio-cultural factors contribute to the exchange as a mediator confirmed. In the following through compliance data and conceptual model, structural equation modeling to assess the impact of trust as a mediator was fitted and the Influence of socio-cultural factors by role of mediator Trust on participation in the stock confirmed

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