Designing an Optimal Indigenous Model of Risky Investment Development in Tehran Stock Exchange Using Grounded Theory and Fuzzy AHP

Najafiahmadabad, Asgar; Fegh-hi Farahmand, Nasser; Fakhimiazar, Sirus; Payetakhti Oskoye, Seyedali

Designing an Optimal Indigenous Model of Risky Investment Development in Tehran Stock Exchange Using Grounded Theory and Fuzzy AHP

Document Type : Original Article

Authors

Asgar najafiahmadabad ¹

Nasser Fegh-hi Farahmand ²

Sirus Fakhimiazar ³

Seyedali Payetakhti oskoye ⁴

¹ PhD Student in Financial Management، Faculty of Economics and Management، Islamic Azad University of Tabriz،Iran

² Faculty member of the Department of Management, Faculty of Economics, Accounting and Management, Islamic Azad University, Tabriz, Iran

³ Assistant Professor, Department of Management, Faculty of Economics, Accounting and Management, Islamic Azad University of Tabriz, Iran

⁴ Associate Professor, Department of Economics, Faculty of Economics, Accounting and Management, Islamic Azad University of Tabriz, Iran

Abstract

The purpose of this study was to design an optimal model for the development of risky investments in the Tehran Stock Exchange using grand theory and fuzzy AHP. The research method was a mixed method. In the first stage, using a qualitative approach, the basis of the research paradigm model has been extracted. The data collection tool was in the qualitative part of the interview. The statistical population of the qualitative section includes experts of investment funds, and 20 experts were selected for interview by theoretical sampling method. The data collection tool in this section was a researcher-made questionnaire that was designed based on the concepts extracted from the qualitative section. The statistical population of a quantitative part included the managers of listed companies. The sample size of this section has been determined based on the recommendations of the confirmation models of 210 people. The results of the qualitative section show 67 concepts in the form of 15 sub-categories and 6 main categories for the development of risky investment. The results of the quantitative section also showed that each of the main and sub-categories extracted from research experts could be generalized to the managers of listed companies.

Keywords

Risky Investment

grounded theory

fuzzy AHP

stock exchange