The Impact of Financial Intelligence on Investment Decisions: The Modifying Role of Behavioral Finance in Industrial Companies Listed on the Amman Stock Exchange

Abstract

The study aimed to examine the impact of financial intelligence across its dimensions (professional skills, technical skills, cognitive skills) on investment decisions (time dimension, decision conditions dimension, and financing structure dimension), with behavioral finance serving as a moderating role in industrial companies listed on the Amman Stock Exchange. This research employed a descriptive analytical approach suitable for its objectives. The population consisted of all employees in the financial departments of industrial companies listed on the Amman Stock Exchange. Data were collected from secondary sources, such as the theoretical framework and recent relevant studies, as well as primary data through a simple random sample. The researcher distributed and collected 229 valid questionnaires for analysis. The SPSS program was used, and based on a significance level of 0.05, various statistical procedures and tests were conducted, including tests for normal distribution, multiple and simple regression, analysis of variance, correlation, coefficient of determination, multicollinearity, and hierarchical regression analysis. The study found that financial intelligence significantly impacts investment decisions, with behavioral finance acting as a moderating factor. The study recommended educating investment decision-makers to pay attention to financial intelligence due to its significant role in investment decisions.