چكيده به لاتين
Given the importance of discussing the efficiency of the capital market, the main purpose of the study is to investigate the wrong valuation in the Iranian stock market and the role of behavioral factors in it. This research is an applied studies based on the purpose. According to the division according to the research method, the present study is based on descriptive and correlational methods. The method used in this research is a mixed research method. The mixed research method is a combination of quantitative and qualitative methods. It has been used in the qualitative part by experts and in the quantitative part by potential stock market customers. The results have been analyzed using the Delphi method as well as structural equations. The results in the qualitative part showed that the inefficiency criterion has sub-criteria; Analysts 'information deviation, analysts' motivations, company characteristics, stock valuation, share price, stock information, ways of knowing information, information rent, quick reaction to price change, quality of information disclosure, intrinsic value of stock and lack of Information symmetry; The anomaly criterion has the following criteria; Accounting information, ownership information, market conditions, stock issue information, long-term price decline, company reputation, ownership structure, calendar anomalies, political upheavals, total index changes, corporate earnings report, corporate earnings reporting delays, cultural and economic factors , The ratio of book value to market value and profit stability; And criteria of behavioral factors including sub-criteria; Representative bias, Conservative bias, Anchor bias, Overconfidence bias, Self-attributive bias, Mental accounting bias, Authenticity bias, Novelty bias, Focus bias, Short-sighted bias, Event-oriented bias, New-oriented bias Is the behavioral bias of analysts. The results in the quantitative section also showed that anomalies and fatal factors affect the inefficiency of the capital market.
