عنوان مقاله [English]
نویسندگان [English]چکیده [English]
Identifying behavioral patterns of individual investors as one of the most important elements of securities markets is important. It is expected that investors try to take the most rational decision, but, in some cases, their mass behavioral lead to an increase of variability of stock prices and returns. In this research, we study Behavioral Pattern of Individual Investors in Connection with Variability Stock Return. The research sample consists of 77 active companies listed in Tehran Stock Exchange of in the period 2000 to 2011. We use net individuals trading to study the behavior of the individual investors. Also, to test the hypothesis, portfolio model and t- statistics with Newey-West correction has been used. The results indicate that the behavior of individual investors in Tehran Stock Exchange can predict the variability of stock returns.