Application of Theory of Planned Behavior in Predicting Investing Intention in Tehran Stock Exchange

Policy Makers considered motivating people to investing in stock exchange by different tools and motives. Accurate knowledge of factors affect people intention to invest in stock market can improve policy maker’s decision making. This study try to predicting people intention to invest in stock market using theory of planned behavior. Survey research based on 169 completed questionnaires of Tehran city residents applied. Multiple regression results indicated that subjective norms has no significant effect on investing intention in stock market (β=0.048; t=0.697). Analysis also revealed Perceived behavioral control has positive impact on the investing intention in stock market (β=0.343; t=6.131). Research found additionally that cognitive and affective attitude have positive impact on the investing intention in stock market respectively (β=0.173; t=2.731) and (β=0.442; t=7.162).