Document Type : Research/Original/Regular Article
Authors
1
ph.d.candidate of finance, Economy faculty of imam sadiq university
2
ph.d. candidate of finance, economy faculty of imam sadiq university
3
Prof. of Economics, Economics Dep, Economics Faculty, Imam Sadiq University, Tehran, Iran.
10.30507/jmsp.2024.419816.2641
Abstract
The capital market has gained a more serious role in the country's economy in recent years. In the years 2019 and 2020, due to the desire of investors to invest in this market, the market index experienced a significant growth, and from August 2020, the index had a sharp drop, and we saw a decrease in the number of market participants, the value and volume of transactions. Turbulences that happen in the capital market cause concern for investors, activists and regulatory institutions. Determining the methods, policies and strategies to control the turbulence in the capital market before the crisis is one of the important issues that must be addressed.
Thus, the method used to analyze data from semi-structured interviews and research synthesis of past studies is thematic analysis, which data is used in the interpretive structural modeling questionnaire.
Based on the findings of the research, the main causes of the fall of the Iranian capital market in 2020, seven factors of instability in the macroeconomic indicators of the country, the adoption of incorrect policies by the government, the movement of parallel markets, the weaknesses of the capital market supervisory body, the characteristics and behavior of investors, the inefficiency of the microstructures of the capital market during the time of turbulence and the change in the market attitude were identified in the analysis of the fundamental characteristics of the companies.
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