Testing the Psychology of Money and Financial Behavior of Investors and Assessing the Performance of Managers

This study investigates the behavioral factors of legal investors in Tehran Securities and Exchange Organization. Its purpose is to assist Managers of Securities and Exchange companies in making sound financial decisions by informing them of these behavioral factors. If managers gain a better understanding of themselves and their beliefs in the financial arena and try to refine destructive financial beliefs, they can improve the financial performance of the company and feel more desirable in addition to achieving long-term financial goals.Therefore, in this study, managers' monetary beliefs as one of the most important aspects of influencing financial behavior and financial performance of a company in a comprehensive model have been investigated and evaluated. This research was conducted by surveying and distributing questionnaires among 70 executives of Securities and Exchange companies in 1397. Based on the results of structural equations, the findings show that there is a significant relationship between managers' monetary beliefs (Psychology of Money) and their financial decisions and firm's financial performance. Managers who are money worship, also have better financial performance than other monetary personalities.