Sociological study of how people enter the stock market with an emphasis on micro-shareholders (Case study: stock exchange activists in Sabzevar)

The capital market and the study of how people enter this market is important because increasing investment in this market has a major role in economic development. The entry of small shareholders into the stock market is one of the key elements of increasing investment in the stock market. The purpose of this study is to understand how people enter the stock market.

The present study was conducted with a qualitative approach and thematic analysis method. Semi-structured interviews were used to collect data from this study. The statistical population includes all activists of the stock exchange who started their activities in this market in 1397 and 1398 in Sabzevar city.

The findings showed that the economic behavior of individuals can be explained by a strong network of relationships (friends, family and colleagues). According to the interviewees, the trust that exists in such relationships plays a major role in people entering the stock market. In the meantime, friendships and friendships and work relationships are less important, and the information that is transmitted in this network can be the cause of economic behavior if it is confirmed by a strong network of reliable relationships. In addition, it was found that news and information from television and professional relationships could less explain the economic behavior of individuals. Also, when people enter the stock market, most of their strong relationships network is invited to this market.

This study has analyzed the issue of how people go to the stock exchange with a network analysis approach, but the findings showed that in Iranian society, a network of strong relationships has a more important role in the economic behavior of individuals. It is true a weak network of relationships creates new information for people, but for people, reliable information is more important.