Identifying effective factors for ranking investment companies of Iran Stock Exchange
Subject Areas : Journal of Capital Market Analysisseyed milad mokhtari 1 , Khosro Faghani Makranin 2 * , Khosro Faghani Makrani 3
1 - Department of Accounting, Sari Branch, Islamic Azad University, Sari, Iran.
2 - Department of Accounting, Sari Branch, Islamic Azad University, Sari, Iran.
3 - Department of Accounting, Sari Branch, Islamic Azad University, Sari, Iran.
Keywords: ranking, stock exchange, fuzzy hierarchical analysis,
Abstract :
The present research examines the key factors that affect the rating of investment companies in the Iranian stock market. This research includes the analysis of financial and non-financial factors such as managerial characteristics, capital market financial variables, internal quality control, industry factors, competitive situation, management quality, credit and economic situation, financial and accrual ratios, cash financial ratios, and capital market ratios. By carefully analyzing these factors and identifying their impact on the rating of investment companies, important results have been obtained. This research shows that a detailed understanding of the factors affecting the rating of investment companies on the Iranian Stock Exchange helps investors and analysts to make smarter decisions about their investments and benefit from high-quality information for these decisions. These results can help to improve decisions, reduce risk, increase efficiency, increase market transparency, and develop the capital market and improve the performance of investments. For this purpose, multi-criteria decision-making methods and fuzzy hierarchical analysis process (FAHP) have been used. Then, by using the factors affecting the performance of investment companies in the capital market of Iran, it was evaluated and the final ranking was done. The results have shown that management characteristics with an importance of 0.332 are in the highest importance and capital market ratios are in the lowest priority with an importance of 0.002.
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