Investigating the relationship between investor behavior and management investment decisions with respect to management and financial literacy of management

In this study, the effect of managers' characteristics on the relationship between investor behavior and investment of companies listed on the Tehran Stock Exchange was investigated. For this purpose, 130 companies were surveyed during the period 1390 to 1399. The required financial data were extracted by referring to financial statements and financial software and summarized, classified and calculated by Excel software and finally analyzed by Eviews software using multivariate regression. Findings showed that there is a significant relationship between investor behavior and management investment decisions. Management and financial literacy of management do not affect the relationship between investor behavior and management investment decisions.