Abstract: The aim of this research is identifying the decline stage of the life cycle of enterprise, risk-taking companies and the investment sentiment. The research method in terms of purpose the method of implementation of the cross in terms of quantitative data in terms of correlation analysis, cross-sectional view of run-time and in terms of inductive logic was implemented. In this study the decline of the company’s life cycle as the independent variable and the company’s risk appetite and investor sentiment were considered as the dependent variable. The study, based on real stock market data and information through the basic financial statements and other financial reports, financial statements and accompanying notes issued by member firms the sample is collected. The results of 636 year now in the period 2009-2014, showed that the direct link between a company’s life cycle and risk stocks as well as the decline of the company’s life cycle on investor sentiment, significant impact there is significant.