Financial Influencers’ Impact on Investor Decision Making

Finding out how financial influences impact investors' decisions when they trade on the Mongolian Stock Exchange is the aim of the study. It also seeks to determine the behavioral characteristics of investors and evaluate the ways in which irrational conduct complicates the process of making investment decisions. We carried out the study in two ways in order to accomplish the aforementioned goals. They are: Questionnaire study: To ascertain how influencers affect investors' choices, the study gathered primary data from 80 investors in total. The findings indicate that investors' well-being is positively impacted by financial influencers, and that stock market participation is positively impacted by influencers and investor well-being. For a total of 3088 days, from 2013.01.01 to 2024.10.31, the price data of "Tavan Tolgoi" JSC, listed on the Mongolian Stock Exchange, as well as 254 tweets from official sources and social influencers that might have an impact on it (positive 61.0%, negative 39.0%), were evaluated using the autoregressive model. According to some of the study's findings, information about the company's earnings, dividends, and financial standing has a greater influence on price than information on the coal markets in China and Mongolia. Additionally, it was discovered that although social influencers' positive information had a favorable effect on the price that day and the day next, their negative information had a significant negative effect.