Identifying and Prioritizing the Factors Affecting the Resilience of the Iranian Capital Market

Document Type : Research Paper


1 PhD Candidate, Department of Industrial Management, Qom Branch, Islamic Azad University, Qom, Iran.

2 Associate Prof., Department of Management, Faculty of Management and Economics, University of Qom, Qom, Iran.

3 Assistant Prof., Department of Accounting, Qom Branch, Islamic Azad University, Qom, Iran.


Objective: In today's world, global economies face significant shocks and threats, such as financial and economic crises, bankruptcies of the banks and large industries, the spread of infectious diseases, terrorist behavior and the collapse of markets. In recent years, the country has faced extensive and unprecedented sanctions, and other shocks such as natural disasters and the outbreak of corona have damaged the country's economy. Therefore, paying attention to the economic resilience plays an important role in strengthening the country's economy and financial institutions against threats. The capital market, as a source of attracting stray and supportive liquidity for the business environment, plays an important role in preventing the country's economic turmoil. This study aimed to identify and prioritize the factors affecting the resilience of the country's capital market.
Methods: The present research is applied in terms of orientation and exploratory in terms of purpose. In order to conduct research in the first stage, by reviewing the literature and interviewing financial experts, the main factors affecting the resilience of the capital market were identified. Subsequently, using the nonparametric test Binominal and Dematel, the main factors were screened and the non-important factors were excluded.
Results: The main final factors were: the structure and processes of the organization, attention to learning and training, information sharing, identifying and analyzing impulses, threats and risks ahead, variety of designs and available options, technology acceptance, improvement and development.
Conclusion: Subsequently, the sub-factors of each of the main factors were identified. Finally, by using Codas decision-making technique, the priority of sub-factors in each of the main factors was determined.


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