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.