Evaluating stock liquidity with its quantitative and cryptic qualitative measures by means of MULTIMOORA fuzzy group decision making

Subject Areas : Journal of Investment Knowledge

Reza Sheikh ¹ , Azadeh Hajjar ² , maryam Azari takami ³

1 - Ph.D. Of Operational Management, Shahrood University of Technology, University of Management and Industrial Engineering
2 - MBA Student, Shahrood University of Technology, University of Management and Industrial Engineering
3 - کارشناسی ارشد MBA ، دانشگاه صنعتی شاهرود

Received: 2015-08-13 Accepted : 2015-12-09 Published : 2016-03-20

Keywords: liquidity, Prevalent Quantitative &amp, Crypt, MULTIMOORA_FG,

Abstract :

Being a principle factor for investors in asset allocating, stock liquidity gains a lot of attention from researchers in its measures and various assessment techniques and numerous measures have been introduced. In this study stock liquidity is evaluated with its prevalent quantitative and cryptic qualitative measures by means of MULTIMOORA fuzzy group decision making. This multi-objective optimization by ratio analysis approach which is the combination of three different methods, called Ratio system, Reference point method and Full multiplicative form, and uses Dominance theory for evaluating final ranking in ordinal environment, is used to evaluate and compare the liquidity of 10 stocks from food and beverage production industry group according to 8 quantitative and qualitative measures. The results show the robustness of MULTIMOORA as well as the ranking and preferences of company stocksʼ liquidity.

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