International Journal of Business and Management Review (IJBMR)

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Factors Affecting Stock Prices in Saudi Stock Market From the Investors’ Perspective in Najran City- A Behavioral Approach


Common stocks are very attractive and popular investments vehicles among investors. However, identifying their prices is a complicated and difficult process because they constantly fluctuate based on a variety of factors. Therefore, the present study aims to investigate the most and the least influential factors in stock price at the Saudi Stock Market from the perspective of investors in Najran City using a behavioral approach. Data were collected using a questionnaire that was distributed to 119 respondents. It comprised 34 items covering 5 main categories, i.e. self-image/firm-image coincidence, accounting information, neutral information, advocate recommendations, and personal financial needs. The study concluded that accounting information seemed to be the most important category affecting stock prices at the Saudi Stock Market. It was followed by self-image/firm-image coincidence, personal financial needs, advocate recommendation, and   neutral Information. It also indicated that the most influential factors in stock price were the reputation of the firm, feelings for a firm’s products and services, religious reasons, while the least ones were the attractiveness of non-stock investment, ease of obtaining borrowed funds, and expected losses in the international financial markets by order of importance.

Keywords: Investments Stocks Price, Saudi Stock Market

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