Analysis of the role of five factor model of personality on the The effect of financial information acquisition on behavior of investors in the Tehran Stock Exchange

The topic of behavior of investors in financial literature has a special position, because investors in the Stock Exchange may exhibit different behaviors, which these behaviors are influenced by several factors such as financial information. In this context, the aim of this research is to analyze the role of financial information on the behavior of investors in the Tehran Stock Exchange. Since investors personality has an important role in behavior of investors, the role of moderator of investors personality characteristics are also examined in this study. The current research method is practical in terms of purpose that it has collected by using questionnaire and necessary survey data procedure. The statistical population of this research are all investors who have invested In the Tehran Stock Exchange in 2016. To collect the data, number of 384 questionnaires were distributed randomly among investors. In order to analyze the data used software smart pls2. The Results show that financial information acquisition have a significant positive important on behavior of investors in Tehran exchange. And among of personality characteristics (openness to experience, extraversion, conscientiousness, neuroticism and compatibility) the extraversion and compatibility variables have the role of moderator in this relationship. The openness to experience, conscientiousness and neuroticism variables have not significant moderator impact in this relationship.