Design and Explain Stock Market Liquidity Model of Product Market Competition Based on Adaptive Econometric Model and Fuzzy Logic Approach
Subject Areas : Financial engineering
hassan
Heydari Sultan Abadi
1
(Department of Accounting, Kashan Branch, Islamic Azad University, Kashan, Iran)
hossein
panahian
2
(Department of Accounting, Kashan Branch, Islamic Azad University, Kashan, Iran)
Keywords: stock liquidity, Fuzzy logic model, Competition Market,
Abstract :
One of the risks associated with a company's stock is liquidity. Stock with high liquidity are attractive to shareholders and investors and increase demand. Stock liquidity is one of the most effective measures of market efficiency, especially in terms of information and is widely used in examining the factors affecting the supply of useful information. in this study, we designed and explained the stock liquidity model with respect to the product competition component. To select the sample, all companies listed in Tehran Stock Exchange from 2007 to 2019 are surveyed. not eligible were removed. Ten main variables affecting liquidity based on previous research were entered into the research model and the hypotheses were tested using regression model. Then, stock liquidity model was introduced through teaching and learning in Fuzzy neural network, which is an analytical-mathematical research method. The prediction obtained from fuzzy neural network is very accurate due to the comprehensive search method and the final model is confirmed with adjusted coefficient of determination of 77%. According to the results, liquidity depends on five influential factors including stock return, firm size, investment opportunity, Herfindahl Hirschman index and Lerner index
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