Investigating the Effect of Environmental Uncertainty on the Relationship between Herd Behavior and Negative Price Shock in TSE

The purpose of this study was to investigate the effect peripheral uncertainty on relationship between herd behavior investors and price negative stock shock. Because capital market is one main pillars country's economic growth development, incidence any disturbance deviation in prices causes problems with allocating equipping funds. Reducing an example disorders created market. On other hand, factors that lead fluctuations return instability financial markets investors. If lack sufficient information about environmental factors, occurs. Such a situation also affects organization. Environmental overshadowed use statements. Changes corporate status are cases can not speak full confidence their occurrence. As result, part environment. To test research hypotheses, 156 companies from Tehran Stock Exchange during years 2010 2020 were selected by screening method. multivariate regression models performed using STATA14 software. results indicate has significant shock no two.