Neurological Functions of CEO Investment based on Varimax Analysis and Rotated Matrix in Q Typology

سال انتشار: 1401
نوع سند: مقاله ژورنالی
زبان: انگلیسی
مشاهده: 258

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JR_AMFA-7-1_007

تاریخ نمایه سازی: 30 آبان 1400

چکیده مقاله:

Chief executive officers (CEO), as the central pillar directing companies at the capital market level, plays a critical role in making investment decisions to de-crease agency costs and maximize shareholders’ wealth; however, their psycho-logical attitudes and perceptions lead to different investment functions of these companies in a competitive market. Accordingly, this study aimed to detect the propositional arrays of the investment functions using Q analysis in order to identify the CEOs’ mental typology in distinguishing investment functions. The present study was carried out with the participation of ۱۳ CEOs from Tehran Stock Exchange companies during a one-year period (۲۰۱۸-۲۰۱۹). The study encompassed two different phases. In the first phase, content analysis was used to identify the phrase Q of the CEOs’ investment functions. In the second phase, Q analysis was adopted to typify the CEOs’ investment functions, which was based on the subjective cognition of the target population and contributed to the development of the approaches in line with the research objectives. The results confirmed the existence of three mental patterns in the CEOs regarding the in-vestment functions in the capital market. These mental patterns were ‘investment function in stock market indices’ as the first mental pattern, ‘investment function in risk control’ as the second mental pattern, ‘strategic investment function’ as the third mental pat-tern. The study results revealed different types of investment functions among the CEOs’ of stock exchange companies and thus contributed to the development of financial theories from the perspective of CEOs’ cognition.

کلیدواژه ها:

CEO Investment ، Neurological Functions ، Varimax Analysis and Rotated Matrix

نویسندگان

Hasan Valiyan

Department of Accounting, Shahrood Branch, Islamic Azad University, Shahrood, Iran

davood hassanpour

Department of Accounting, Payame Noor University (PNU), Tehran, Iran

mehdi safari gerayli

Department of Accounting, Bandargaz Branch, Islamic Azad University, Bandargaz, Iran.