مریم نورایی

Objectives: Market indices are essential indicators of overall market performance, yet the geographic distribution of firms may significantly influence market behavior. This study investigates the relationship between firm location and stock market indices to uncover how regional dispersion impacts overall market performance. Methodology/Design/Approach: The study adopts a descriptive-survey design complemented by analytical methods. Geographic Information Systems (GIS) and relevant APIs were utilized to gather detailed data on company locations. Hypotheses were tested using regression analysis and fixed effects models, with additional correlation assessments to examine the interplay between firm locations and stock market performance. Findings: The empirical results demonstrate a negative regression coefficient between firm geographic location and the stock market index. Specifically, each positive unit change in geographic location is associated with a decrease of approximately 93.297 units in the overall index. Moreover, if all firms were hypothetically concentrated in a single geographic region, the index would be projected at 12,235. These findings suggest that relocating firms from higher to lower geographic regions could reduce the overall stock market index. Innovation: This study offers original insights into the spatial dynamics of stock market behavior by highlighting the significant influence of geographic distribution on overall market indices. It contributes to a nuanced understanding of how regional clustering or dispersion of firms may shape financial market outcomes.

The objective of the current survey was to excavate the effect of the rate of hormones in the blood, age, and gender on the financial behavior of managers. Also, preparing and propounding the neurofinance model of financial behaviors that have generated anomalies such as optimism in the market is other intentions of this study. This research has been operated with an inductive approach and experimentally in a one-time period in a statistical population consisting of 37 male and female managers with an average age of 25-60 years. The amounts of the testosterone, free testosterone, cortisol T3, T4, and TSH were deliberate in a medical diagnostic laboratory with a blood test. Managers' optimism data were accumulated with a standardized questionnaire straight away afterward receiving the blood sample. The prepared data were analyzed with SPSS and LISREL and RSM software. The outcomes demonstrated that age has a significant inverse relationship with optimism. Free Testosterone; T4 and testosterone play an inverse role in optimism augmenting. Cortisol and T3 are straightly related to optimism. Also, financial behavior is further related to the dimension of optimism in women than men, and with growing older, optimism decreases. The significant effect of testosterone and cortisol, age and gender on optimism, confirmed the effect of these hormones on the financial behavior in other studies. The effect of testosterone and thyroid hormones on optimism was considered in this survey for the first time.