Developing an Integrated ISM and DEMATEL Method for Eco-nomic and Political Factors Influencing Investors' Decision-Making in Investing in the Stock Exchange

Subject Areas : Financial Accounting

Mehdi Saemipour ¹ , Naghi Fazeli ² , Khosro Makarani ³

1 - Department of Accounting, Semnan Branch, Islamic Azad University, Semnan, Iran
2 - Department of Accounting, Semnan Branch, Islamic Azad University, Semnan, Iran
3 - Department of Accounting, Semnan Branch, Islamic Azad University, Semnan, Iran

Received: 2022-04-23 Accepted : 2022-07-25 Published : 2023-12-01

Keywords: Political Characteristics, DEMATEL Method, Meta Synthesis method, Interpretive Structural Modeling Method, Economic Characteristics,

Abstract :

This study examines the political and economic factors influencing the decision of investors in the stock exchange. For this purpose, first, by using the Meta Synthesis method, the factors affecting investment decisions were extracted from previous researches and then, using Delphi technique, the identified features were evaluated and approved by experts. Then, using DEMATEL method, the relationships between the factors were analyzed, and finally, the sequence and rank of each factor were determined based on the Interpretive Structural Modeling method. Based on the results obtained from the DEMATEL method, "Foreign political news and revolutionaries" and "International economic revolutionaries" are the most influential factor on other factors and "Predicting the country's economic situation in the future" is the most influential factor among other factors. Also, the results of the Interpretive Structural model approach show that Political factors such as the "Comments of political officials", "Iran's political relations with other countries" and "Internal Security and Stability" have the greatest impact on investment decisions.

References:

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