The Effects of Information Asymmetry, Accounting Information and Personal Values on Investment Satisfaction Mediating by Direct Investment Decision Makers

The Effects of Information Asymmetry, Accounting Information and Personal Values on Investment Satisfaction Mediating by Direct Investment Decision Makers

ABSTRACT:
Purpose: This research is conducted for investment decision and satisfaction with the behavioral value of an individual investor of Pakistan stock exchanges. The effect of independent variables like information asymmetry, accounting information, personal behaviors & values on dependent variable like satisfaction on investing purpose has been measured and also impact of independent variables has been measured with the mediation of investment decision on investment satisfaction.  Design / Methodology: Research questionnaire was used for data collection through purposive  sampling  technique  and  AMOS  was  used  for  the  pilot  testing  though confirmatory factor analysis for model fitness and validity of the instrument. To test the hypothesis, multiple  regression analysis has been applied to find out significant association of independent variables with dependent variable through the mediation of mediator with 95% confidence interval and 5% significant level.  Findings: In this study, we find information asymmetry has significant impact about the investment satisfaction with the partially mediation of investing decision but the impact  is  positive.  Accounting  information  has  no  direct  or  indirect  effect  on investment  satisfaction  for investors  belongs  to Pakistani  markets,  So  the  impact  is just  because  of  the  full  mediation  of  investment  decision  and  personal  values  has significant negative impact for the investment satisfaction with a partially mediation regarding investment decision making.