Asymmetric information is one of the key factors influencing the capital market. Some of the inefficiencies in the market and other institutions stem from the high costs associated with information, with many of their characteristics emerging as a response to these expenses. In addition to asymmetric information, market structure also exerts a significant impact on capital market performance. This paper aims to examine the evolution of capital market behavioural patterns according to the type of information and the degree of market symmetry. Employing an unstructured grounded theory approach, the study identifies and evaluates the factors affecting the development of capital market behaviour across causal, contextual, and mediating dimensions. The findings reveal that within the central and mediating dimensions, indicators such as financial transparency, auditing, government intervention, and economic instability, among others, play a crucial role in shaping the evolution of these behavioural patterns. Consequently, it is recommended that the supervisory systems of the stock exchange be strengthened, and that robust auditing and management frameworks be implemented to eliminate inconsistencies in managerial decision-making and curb imbalanced growth in the capital market.