محمد علیپور

Background: Many investment decisions are not only affected by economic indicators and rationality, but also categories such as work experience, social responsibility, risk, investor self-confidence, etc. affect investor’s behavior and their decisions. The main purpose of this study is to present a financial behavior model based on psychological and moral factors. Method: The present study was mixed. In the qualitative part, the Delphi technique was used. The statistical population of all experts and managers of brokerages, investment funds, investment portfolios, traders and analysts had professional qualifications and high experience, of which 12 people were considered as snowball technique as a sample. It was an interview tool and finally the data were analyzed by fuzzy Delphi method. In a small part, the descriptive-survey method was used. 287 members of the investor community were considered as a sample. A questionnaire was used to collect data. Finally, using AMOS software, confirmatory factor analysis and structural equation design were investigated. Results: Finally, the analysis model in this study was approved. Based on the importance of investors' behavior and the importance of moral and psychological characteristics in the capital market, it was shown that the expected return formed has a direct effect on the psychological characteristics of optimism, distrust, risk aversion and emotion, as well as ethics. It was also shown that psychological and moral characteristics affected turnover, trading volume, risk sharing, risk appetite. In addition, one of the most important results is a combination of behavioral factors (optimism, overconfidence, emotion, risk aversion and ethics) and market efficiency (trading volume, turnover, risk appetite and risk sharing). Conclusion: The obtained results indicate the effect of emotional and psychological and moral characteristics and characteristics on the behavior of investors and is important to drive the market towards rationality and on the other hand as a basis for designing investment strategies for investment managers.

The present research aimed to determine the possible effect of multimedia use in English classes on the development of EFL learners’ self-concept. For this purpose, 80 EFL students were selected through covariance sampling from among all the male high school English students in Ahvaz and were equally divided into an experimental group (n=40) and a control group (n= 40). To collect the needed data for the aims of the study, Chen & Thompson (2004) self-concept questionnaire was employed. Then, based on the quasi-experimental, pre-test, and post-test methods of the study, the elicited data were analyzed using descriptive statistics and covariance analysis. The obtained results showed that using multimedia in instruction has a significant impact on EFL learners’ self-concept. These findings have some implications for teaching English as a foreign language. First, the use of up-to-date multimedia technology needs to be encouraged more than before in schools, language institutes, and universities. Second, teachers’ interest, readiness, and expertise to use multimedia facilities need to be evaluated before appointing them as English language instructors. Finally, suitable grounds for the implementation of multimedia technology should be provided in educational setting.