The formation of the investment optimal portfolio based on the approach of the analysis of social channels in Iran’s equities market (Quantitative and qualitative attitude)

Document Type : Original Article

Authors

1 Ph.D. Student Department of Management and Economics, Science and Research Branch, Islamic Azad University. Tehran. Iran

2 Assistant Professor department of business administration.Shahre Ghods Branch, Islamic Azad University, Tehran, Iran, and Department of Management and Economics, Islamic Azad University, Science and Research Branch, Tehran, Iran

3 Associate Professor Department of Management and Economics. Science and Research Branch, Islamic Azad University, Tehran, Iran

4 Assistant Professor Department of Management, Borujerd Branch, Islamic Azad University, Borujerd, Iran, and Department of Management and Economics, Science and Research Branch, Islamic Azad University, Tehran, Iran

10.30495/ijfma.2022.69978.1931

Abstract

This research point is to check the approach of analyzing social networks to form the investment optimal portfolio in Iran’s equities market. This research is based on surveying-exploratory of the gathered sectional data. This research has been done in three phases which includes studying theoretical basics and the literature review, exploratory research, Delphi method and using a questionnaire through a process that was completed in 20 levels. In qualitative part and in respect to Delphi 15 experts in the first phase and 25 experts in the second phase were interviewed. For quantitative approach 384 persons were considered as the total sample of persons to be taken into account for Cochran formula and sampling method. The results showed that, assuming all the other conditions are constant, the investors were not affected by the political news in social networks, as a regards Iranian investors were affected by the economical and corporate news.

Keywords

References

Becker, K; Lee, JW (2019). Organizational Usage of Social Media for Corporate Reputation Management. Journal of Asian Finance Economics and Business, Vol.6 No.1, pp. 231-240. DOI: http://doi.org/10.13106/jafeb.2019
2) Bollen, J., Mao, H., &Zeng, X. (2011). Twitter mood predicts the stock market. Journal of Computational Science, 2(1), 1-8.
3) Chahine, S. and Malhotra, N.K. (2018), "Impact of social media strategies on stock price: the case of Twitter", European Journal of Marketing, Vol. 52 No. 7/8, pp. 1526-1549. https://doi.org/10.1108/EJM-10-2017-0718
4) Dehghan niri, Mahmood and Dosari, fariba, 1396, choosing the optimal portfolio with a probable multipurpose math modeling approach ( studied: Tehran stock exchange ), the second industrial management international conference, Babolsar,,, https://civilica.com/doc/633369
5) Fallahgoul, H. (2021). Inside the Mind of Investors During the COVID-19 Pandemic: Evidence from the StockTwits Data. The Journal of Financial Data Science Spring 2021, 3 (2) 134-148; DOI: https://doi.org/10.3905/jfds.2021.1.058
6) Hajli, M. N. (2014). A study of the impact of social media on consumers. International journal of market research, 56(3), 387-404.
7) Hirshleifer, D., & Hong Teoh, S. (2003). Herd behaviour and cascading in capital markets: A review and synthesis. European Financial Management, 9(1), 25-66.
8) Hudson, S., & Thal, K. (2013). The impact of social media on the consumer decision process: Implications for tourism marketing. Journal of Travel & Tourism Marketing, 30(1-2), 156-160.
9) Koumou, G.B. Diversification and portfolio theory: a review. Financ Mark Portf Manag 34, 267–312 (2020). https://doi.org/10.1007/s11408-020-00352-6
10) Li, Q., Wang, T., Li, P., Liu, L., Gong, Q., & Chen, Y. (2014). The effect of news and public mood on stock movements. Information Sciences, 278, 826-840.(b)
11) Li, X., Xie, H., Chen, L., Wang, J., & Deng, X. (2014). News impact on stock price return via sentiment analysis. Knowledge-Based Systems.
12) Liagkouras, K., Metaxiotis, K. & Tsihrintzis, G. Incorporating environmental and social
considerations into the portfolio optimization process. Ann Oper Res (2020). https://doi.org/10.1007/s10479-020-03554-3
13) Moradi, Mohammad, Sadollah, Ali, Eskandar, Hoda and Eskandar, Hadi. (2017). The application of water cycle algorithm to portfolio selection. Economic Research, 30(1): 1277–1299.
14) Nagar, A., &Hahsler, M. (2012). Using Text and Data Mining Techniques to extract Stock Market Sentiment from Live News Streams. International Proceedings of Computer Science & Information Technology, 47.
15) Oliveira, N., Cortez, P., & Areal, N. (2013). On the Predictability of Stock Market Behavior Using StockTwits Sentiment and Posting Volume. In Progress in Artificial Intelligence (pp. 355-365). Springer Berlin Heidelberg.
16) Qalati, S. A., Yuan, L. W., Khan, M. A. S., & Anwar, F. (2021). A mediated model on the adoption of social media and SMEs’ performance in developing countries. Technology in Society, 64, 101513.
17) Ramelona, E., Kleiman, P., Gruenstein, D.,1997, Market returns and mutual fund flows, FRBNY Economic Policy Review , 33–52, Federal Reserve Bank of New York
18) Raii, Reza, Hosseini, Seyed Farhang, Kiani Harchegani, Maedeh. (2016). Consideringsocial networks’ users’ comment’ ability on predicting the direction and price of equities in Tehran stock exchange. Investment science, 128-107, (19)5.
19) Roodposhti guide, Fereydoon; Mir Ghaffari,Seyed Reza (2011). The assessment of portfolio function in Tehran stock exchange: the application of Value at Risk. Financial engineering and stock exchange management (portfolio management).78-51 ,(8)2.
20) The assessment of portfolio function in Tehran stock exchange: the application of Value at Risk
21) Shepard, J. M. (2012). Cengage Advantage Books: Sociology. Cengage Learning.
22) Siamagka, N. T., Christodoulides, G., Michaelidou, N., & Valvi, A. (2015). Determinants of social media adoption by B2B organizations. Industrial Marketing Management, 51, 89-99.
23) Taghizadeh, Mehran, 2015, over analyzing around organizational risk’s role in the companies of 21rst century, the first international conference of management science of developments,
346 / The formation of the investment optimal portfolio based on the approach of the analysis of social …
Vol.8 / No.29 / Spring 2023
innovations, challenges, https://civilica.com/doc/560642
24) Tajvidi, R., & Karami, A. (2021). The effect of social media on firm performance. Computers in Human Behavior, 115, 105174.
25) Wu, Kai and Lai, Seiwai and Sun, He, It Pays to Have Guanxi: Social Networks and Household Income in China (February 24, 2021). Available at SSRN: https://ssrn.com/abstract=3649302 or http://dx.doi.org/10.2139/ssrn.3649302
26) Xiangtong. Meng, W. Zhang, Y. Li, et al., Social media effect, investor recognition and the cross-section of stock returns, International Review of Financial analysis (2019), https://doi.org/10.1016/j.irfa.2019.101432
27) Yost, E., Zhang, T., & Qi, R. (2021). The power of engagement: Understanding active social media engagement and the impact on sales in the hospitality industry. Journal of Hospitality and Tourism Management, 46, 83-95.
28) Zagidullin, M., Aziz, N., & Kozhakhmet, S. (2021). Government policies and attitudes to social media use among users in Turkey: The role of awareness of policies, political involvement, online trust, and party identification. Technology in Society, 67, 101708.
29) Zhou, R., Yang, Z., Yu, M., Ralescu, D. A., A (2015), portfoliooptimization model based on informationentropy and fuzzy time series. Fuzzy Optimization and Decision Making, 14(4), 381-397. 2015
30) Z. Liu and Q. Ma (2020), "Portfolio-Based Ranking of Traders for Social Trading," in IEEE Access, vol. 8, pp. 145363-145371, 2020, doi: 10.1109/ACCESS.2020.3011713.
31) Zimao. Liu and Q. Ma (2019),, "Unsupervised method for discovering expert traders on social trading services", Proc. IEEE Int. Conf. Big Data Smart Comput. (BigComp), pp. 1-8, Feb. 2019.
32) Yoshino, O., Taghizadeh-Hesary, F. Otsuka, M. (2021). Covid-19 and Optimal Portfolio Selection for Investment in Sustainable Development Goals. Finance Research Letters. 38, 1025-42.

Files

Share

How to cite

Statistics