International Journal of Finance & Managerial Accounting

International Journal of Finance & Managerial Accounting

Identifying and Ranking the Factors and Strategies Affecting the Use of Financial Derivative Contract in Risk Management

Document Type : Original Article

Authors
mahmood nikpasand 1
Alireza Mirarab 2
neda farahbakhsh 2
1 Ph.D. Student, Faculty of Management and Accounting, Islamic Azad University, Rudehen, Tehran, Iran.
2 Assistant Professor, Faculty of Management and Accounting, Islamic Azad University, Rudehen, Tehran, Iran.
10.30495/ijfma.2022.64341.1755
Abstract
The present study aimed to identify and rank the factors and strategies affecting financial derivative contracts in risk management. In order to achieve the objectives of the research using the non-random judgment method, the opinions of 15 experts in the field of risk management and derivative contract in the Tehran Stock Exchange and investment companies, up to the stage of theoretical saturation, were used. The present study uses the mixed exploratory research method in two parts: qualitative and quantitative. In the qualitative section, open coding was performed first using open, grounded theory and line-by-line analysis of the interviews. During the coding, 55 items were obtained as basic concepts from the text of the interviews, which were classified into 11 subcategories and three main categories, including underlying factors, intervenors, and strategies. In the quantitative part of the research, through the questionnaire, experts' views were collected. Then, the data were determined using a fuzzy hierarchical process, analysis, and prioritization of components in each of the main categories. The results showed that perception was the highest priority among the underlying factors; structural and technical factors were the highest priority among the interventionist factors. The establishment of a stability council between the financial institutions of Iran was the highest priority among the strategies.
Keywords
Derivative Contract
Risk Management
Financial Markets
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