چکیده مقاله
This systematic review examines the impact of cognitive biases on investment decisions among individual investors in Tehran Stock Exchange TSE Following the PRISMA 2020 guidelines, we analyzed 32 empirical studies published between 2018 2024 from databases including Scopus, Web of Science, and ScienceDirect The review identifies five predominant cognitive biases: loss aversion, overconfidence, confirmation bias, anchoring, and herding behavior Results demonstrate that these biases significantly influence trading frequency, portfolio diversification, and ultimately lead to diminished investment performance Investors exhibiting these biases showed 3 7% lower annual returns compared to more rational decision makers The findings underscore the critical need for targeted investor education programs, behavioral interventions, and regulatory measures to mitigate bias effects in emerging markets This synthesis provides valuable insights for investors, financial advisors, and policymakers, contributing to improved decision making processes and market stability in the TSE and similar emerging markets
کلیدواژهها
نویسندگان
Seyedeh Atena Naghipour
PhD Student in Accounting, Islamic Azad University, Qeshm International Branch, Iran
Azita Amirfakhraei
Department of Psychology, Islamic Azad University, Bandar Abbas Branch, Iran
شیوه ارجاع
Naghipour, Seyedeh Atena and Amirfakhraei, Azita,1404,The Impact of Cognitive Biases on Investment Decisions: A Systematic Review of Individual Investors in Tehran Stock Exchange,24th International Conference on Psychology,Counseling,and Educational Sciences.
ارائهشده در
مجموعه مقالات بیست و چهارمین کنفرانس بین المللی روانشناسی، مشاوره و علوم تربیتی30 آبان 1404