تأثیر مؤلفه‌های محیط زیستی و آلودگی هوا بر اعتماد به نفس و زیان‌گریزی سهام‌داران

نوع مقاله : مقاله پژوهشی

نویسندگان

1 دانش‌آموخته کارشناس ارشد مدیریت مالی، واحد اراک، دانشگاه آزاد اسلامی، اراک، ایران

2 دانشیار گروه مدیریت مالی، واحد اراک، دانشگاه آزاد اسلامی، اراک، ایران

3 دانشجوی دکترای مهندسی مالی، واحد اراک، دانشگاه آزاد اسلامی، اراک، ایران

10.22034/eiap.2023.169981

چکیده

امروزه آلودگی هوا به معضلی‌ اصلی برای کشورهای جهان تبدیل شده و آثار زیان‌بار بلندمدت و کوتاه‌مدت بسیاری بر سلامت انسان‌ها دارد. از جمله این آثار، تاثیر آلودگی هوا بر حالت‌های خلقی افراد است، که این امر به نوبه خود زمینه‌ساز تورش‌های رفتاری سرمایه‌گذاران در تصمیم‌های مالی آنها است. از این‌رو، هدف این پژوهش بررسی تاثیر مولفه‌های محیط‌زیستی و آلودگی هوا بر اعتماد به نفس و زیان‌گریزی سهام‌داران بوده است. این پژوهش در زمره پژوهش‌های کاربردی قرار دارد. قلمرو مکانی، شرکت‌های پذیرفته شده در بورس اوراق بهادار تهران و قلمرو زمانی سال‌های بین 1393 تا 1397 بوده است. بمنظور جمع‌آوری داده‌های شرکت‌های نمونه از صورت‌‌های مالی، یادداشت‌‌های توضیحی و ماهنامه بورس اوراق بهادار استفاده شد. به منظور توصیف و تلخیص داده‌ها از آمار توصیفی و استنباطی بهره گرفته شد. براساس روش حذف سیستماتیک تعداد 167 شرکت به عنوان نمونه آماری انتخاب شد. آزمون رگرسیون چند متغیره برای تایید و رد فرضیه‌ها در محیط نرم‌افزار ایویوز مورد استفاده قرار گرفت. نتایج حاکی از آن است که فاکتورهای آلودگی هوا (شاخص کیفیت هوا، متوسط دما، متوسط رطوبت، باد شدید، نسبت پوشش ابر) و محیط‌زیست (شاخص آلودگی محیط‌زیست، تخریب محیط‌زیست) بر اعتماد به نفس و زیان‌گریزی سهام‌داران در دو حوزه صنایع پرمصرف آب و صنایع کم مصرف و شرکت‌های موفق و ناموفق، تاثیرگذار است. اما میزان این تاثیرگذاری بر هر گروه متفاوت است. شایان ذکر است نتایج به دست ‌آمده در این پژوهش در راستای تایید تئوری‌های، دیدگاه مبتنی بر منافع مالی، مالی رفتاری و فرضیه بازار کارا است.

کلیدواژه‌ها

موضوعات


عنوان مقاله [English]

The Effect of Environmental Components and Air Pollution on Shareholders' Confidence and Deterrence

نویسندگان [English]

  • Marziyeh Bagheri 1
  • Majid Zanjirdar 2
  • Nadia Keyvan 3
1 Master's Degree of Financial Management, Arak Branch, Islamic Azad University, Arak, Iran
2 Associate Professor of Department of Financial Management, Arak Branch, Islamic Azad University, Arak, Iran
3 PhD Student of Financial Engineering, Arak Branch, Islamic Azad University, Arak, Iran
چکیده [English]

Today, air pollution has become a major problem for countries around the world and has many long-term and short-term harmful effects on human health. Among these effects is the effect of air pollution on people's moods, which in turn paves the way for investors' behavioral biases in their financial decisions. Therefore, the purpose of this study was to investigate the effect of environmental components and air pollution on the confidence and deterrence of stakeholders. This research is in the category of applied research. Spatial realm, companies listed on the Tehran Stock Exchange and the realm of time from 1393 to 1397. In order to collect data of sample companies, financial statements, explanatory notes and stock exchange monthly were used. Descriptive and inferential statistics were used to describe and summarize the data. Based on the systematic elimination method, 167 companies were selected as a statistical sample. Multivariate regression test was used to confirm and refute the hypotheses in the Ives software environment. The results indicate that air pollution factors (air quality index, average temperature, average humidity, strong wind, cloud cover ratio) and environment (environmental pollution index, environmental degradation) affect shareholders' confidence and deterrence in two areas High-consumption water and low-consumption industries and successful and unsuccessful companies are effective. But the extent of this impact varies from group to group. It is worth mentioning that the results obtained in this study are in line with the theories, views based on financial benefits, behavioral finance and efficient market hypothesis.

کلیدواژه‌ها [English]

  • Environmental components
  • Air pollution
  • Shareholder confidence
  • Shareholder loss avoidance
  • Behavioral biases
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