Investigating the Effect of Financial Socialization on Financial Satisfaction With Regard to the Mediating Role of Financial Dogmatism

 The use of various sciences with the aim of solving the problems facing financial researchers in recent years as an essential need, given the issues and problems caused by the psychological and social destructive effects of capital market fluctuations, is felt more than ever. In this regard, the present study examines the impact of financial socialization on financial satisfaction with the mediating role of financial dogmatism, which to investigate the mediating effect, four main objectives are: 1- The impact of financial socialization on financial satisfaction 2- Financial socialization on financial dogmatism 3- The effect of financial dogmatism on financial satisfaction and 4- Explaining the effect of financial dogmatism on the relationship between financial socialization and financial satisfaction were examined.

In this regard, 450 questionnaires were distributed among investors in the Tehran Stock Exchange. Out of 430 collected items, 398 questionnaires were accepted and structural equation modeling (SEM) and Amos software version 26 were used to analyze the data. The maximum likelihood estimation (MLE) method has also been used to predict the amount of unknown parameters.

The results indicate that financial socialization has a positive and significant effect on financial satisfaction and a negative and significant effect on  financial dogmatism. Also, financial dogmatism has a negative and significant effect on financial satisfaction. In general, the results show that in the relationship between financial socialization and financial satisfaction, financial dogmatism has a mediating role, and since financial socialization, in the absence of financial dogmaism, directly affects financial satisfaction, in this relationship, a partial mediating role Plays. 

Given the positive impact of financial socialization, one of the dimensions of which is social media networks on financial satisfaction, it is appropriate for companies to achieve the goals of financial reporting, voluntary disclosure of information and signaling that reduces risk and information symmetry. , To inform through new methods such as social networks and add them to previous reporting methods. Also, by increasing measures for financial socialization, such as the development of social networks, it is possible to reduce the financial dogma of investors and increase their trust, which is considered an obstacle to investment. Therefore, by increasing the volume of investment in the capital market, while reducing the risks of entering the market and its prosperity, we will see an increase in the financial satisfaction of investors and their greater confidence. In addition, by increasing the financial satisfaction of individuals, it will increase the amount of investment.