Abstract:
The aim of this study is to find the effect of trader’s biorhythmic cycles on their perceptual decisions in Tehran Stock Exchange. According to author’s point of view, decision making is one of the major factors of management skills, and in some cases, it is equivalent of management (Simon’s point of view). Also considering this fact that the knowledge of psychological factors and it’s effects on trader’s performance is necessary to recognition of behavioural models of traders on their decision making, the necessity of researcher’s attempt in this field is obviously clear, because knowledge, planning and effective guidance of inside perceptions (mental black box), and behavioural biases of traders in their decision makings will lead us to develop stock market. Data in this research are collected by questionnaires and interviews. The nature of research method in this study is descriptivesurveystudyand it’s purpose is practical. The results show that biorhythmic factors influence perceptual decisions of traders, and the greatest impacts are intellectual, emotional and physical cycles respectively. The other results show, as the age and experience of investors increase the use of intuitive decision making will rise. Also the investors who have higher educational degree use the most intellectual analysis in their decision makings.
Machine summary:
"The effect of biorhythmic states of traders on their perceptual decisions in Tehran Stock Exchange Receipt: March 5 , 2012 Acceptance: May 25 , 2012 Fraydoon Rahnamay Roodposhti professor and member of scientific board of Islamic azad university,Science and Research campus, rahnama@iau.
As a result, considering that decision making is influenced by different moods of humans (in this case, investors), in this research, we will try to evaluate the effect of biorhythmic cycle in the decision making of stock market traders.
Based on one of the researches in Iran about studying the effective psychological factors on people’s decisions to invest in Tehran stock exchange, one of the variables in this research is biorhythmic factors.
5- The research model (به تصویر صفحه مراجعه شود) 6- Research hypothesizes Main hypothesizes There is a positive and meaningful relationship between biorhythmic factors and traders’ perceptual decisions in the stock exchange.
There is a positive and significant relation between biorhythmic intellectual cycle and traders’ perceptual decisions in the stock exchange.
. 000 Table 8) the results of the research Hypotheses regarding the Statistical analysis Research hypothesizes Statistical test results Y There is a positive and significant relation between biorhythmic intellectual cycle and traders’ perceptual decisions in the stock exchange.
Y There is a positive and significant relation between biorhythmic emotional cycle and traders’ perceptual decisions in the stock exchange.
Based on the results of this study it is found out that the biorhythm factors, influence on the quality of traders decision making and the most effective are intellectual, emotional and physical cycle respectively."