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شناسایی و الگوسازی روابط بین مولفه‌های اقتصادی و غیراقتصادی استرس مالی سرمایهگذاران حقیقی بازار سرمایه(رویکرد تلفیقی فراترکیب-دلفی‌فازی-دیمتل) | ||
| راهبرد مدیریت مالی | ||
| مقاله 7، دوره 11، شماره 4 - شماره پیاپی 43، دی 1402، صفحه 147-172 اصل مقاله (791.02 K) | ||
| نوع مقاله: مقاله پژوهشی | ||
| شناسه دیجیتال (DOI): 10.22051/jfm.2023.36833.2573 | ||
| نویسندگان | ||
| یوسف آزادیان1؛ ایمان داداشی* 2؛ یوسف تقی‌پوریان گیلانی3 | ||
| 1دانشجوی دکتری حسابداری، واحد بابل، دانشگاه آزاد اسلامی، بابل، ایران . | ||
| 2استادیار گروه حسابداری دانشگاه قم | ||
| 3گروه حسابداری، واحد چالوس، دانشگاه آزاد اسلامی، چالوس، ایران | ||
| چکیده | ||
| هدف این مطالعه، شناسایی مؤلفههای موثر بر استرس مالی سرمایهگذاران حقیقی بازار سرمایه و تبیین الگوی روابط بین مؤلفههای اقتصادی و غیراقتصادی استرس مالی و پیامدهای ناشی از آن میباشد. برای شناسایی گویههای استرس مالی و پیامدهای ناشی از آن، به کمک منابع کتابخانهای و میدانی از تکنیک فراترکیب استفاده شد؛ جهت تصمیمگیری گروهی و مؤلفهبندی گویهها از شاخص لاوشه و تکنیک دلفی فازی؛ و با بکارگیری روش دیمتل روابط بین مؤلفههای اقتصادی و غیراقتصادی الگوسازی شد. این پژوهش از لحاظ رویکرد، آمیخته اکتشافی از نظر استراتژی پژوهش، پیمایشی و از نظر زمان اجرا، تک مقطعی است و از نرم افزارهای MAXQDAv10، SPSS و Excel جهت تحلیل دادههای جمعآوری شده در بازار اوراق بهادار کشور استفاده شده است. یافتههای پژوهش شامل شناسایی الگوی روابط بین 10مؤلفه (5مؤلفه اقتصادی و 5مؤلفه غیراقتصادی) برای متغیر استرس مالی و 4 مؤلفه (2مؤلفه اقتصادی و 2مؤلفه غیر اقتصادی) برای متغیر پیامدهای ناشی از استرس مالی می باشد. نتایج پژوهش نشان میدهد که مؤلفه «عوامل اقتصادی» با میزان خالص اثرگذاری 6858/1 مهمترین مؤلفه استرس مالی سهامداران حقیقی و مؤلفه «پیامدهایی برای جامعه» با میزان خالص اثرگذاری 2013/2- مهمترین مؤلفه پیامد(معلول) استرس مالی میباشد. با ریشهیابی عوامل استرسزای مالی سهامداران حقیقی زمینه بسیار موثری در راستای ایجاد افقهای جدید تصمیمسازی در بازار سرمایه، زیربخشهای اقتصادی و خصوصاً حوزههای سیاستگذاری بازار سرمایه برای سرمایهگذاران حقیقی فراهم میآید. | ||
| کلیدواژه‌ها | ||
| استرس مالی؛ سرمایهگذاران حقیقی؛ بازار سرمایه | ||
| عنوان مقاله [English] | ||
| Identifying and Modeling the Relationships Between Economic and Non-economic Components Financial Stress of Individual Investors of the Capital Market (Integrated Approach of Techniques Meta-Synthesis - Fuzzy Delphi - Dematel) | ||
| نویسندگان [English] | ||
| Yousef Azadian1؛ Iman Dadashi2؛ Yousef Taghipouryan Gilani3 | ||
| 1PhD Student in Accounting, Babol Branch, Islamic Azad University, Babol, Iran | ||
| 2Assistant professor of accounting university of Qom | ||
| 3Department of Accounting, Chalus Branch, Islamic Azad University, Chalus, Iran | ||
| چکیده [English] | ||
| Today, achieving the economic goals of any country is impossible without the public participation of society, because the accumulation of micro-savings of the people leads to the formation of capital, which economists consider one of the most important factors of economic development. Therefore, the purpose of this study is to identify the components affecting the financial stress of Individual capital market investors and to explain the pattern of relationships between economic and non-economic components of financial stress and its consequences. Hypertext technique was used to identify items of financial stress and its consequences with the help of library and field resources; For group decision making and component classification of items from Lawshe index and fuzzy Delphi technique; Using the Demetel method, the relationships between economic and non-economic components were modeled. This research is an exploratory mix in terms of research strategy, survey and one-time in terms of execution time, and MAXQDAv10, SPSS and Excel software have been used to analyze the data collected in the country's securities market. Findings include identifying the pattern of relationships between 10 components (5 economic components and 5 non-economic components) for the variable of financial stress and 4 components (2 economic components and 2 non-economic components) for the variable consequences of financial stress. The results show that the component of "economic factors" with a net effect of 1.6858 is the most important component of the cause of financial stress of Individual shareholders and the component of "consequences for society" with a net effect of -2/2013 is the most important component of the outcome (effect) of financial stress. By rooting out the financial stressors of Individual shareholders, a very effective ground is provided for Individual investors to create new horizons of decision-making in the capital market, economic sub-sectors and especially capital market policy areas. | ||
| کلیدواژه‌ها [English] | ||
| Financial Stress, Individual Investors, Capital Market | ||
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