Identify the effective components on the resilience of financial technology businesses and prevent failure using fuzzy ANP method

Document Type : Original Article

Authors

1 Ph.D. student in financial engineering, Azad University, Roudhan branch, Tehran, Iran.

2 Full Professor, Azad University, Science and Research Unit, Tehran, Iran.

3 Assistant Professor of Accounting, Department of Accounting and Management, Roudehen Branch, Islamic Azad University, Roudehen, Iran.

10.30495/ijfma.2023.68572.1887

Abstract

The goal of resilience is to build the capacity to improve a system for survival, from a shock and to face change and instability, to resist the effects of shock by building the capacity to adapt and grow. The purpose of business continuity management is to ensure the uninterrupted availability of all the key resources needed to support business activities in the event of a disruption, as well as to accelerate the return to normalcy. The present study is a survey and is of an applied type. The statistical population of this research is experts familiar with financial technology businesses in Tehran, of which 10 experts were identified and considered as the statistical population of the research. The data collection tool is an expert questionnaire and pairwise comparisons. According to the studies, the resilience parameters for the time before the occurrence of failure are 1- probability of failure 2- tolerance threshold and 3- intensity of possible failure. Parameters related to the occurrence of failure also include: 1- recovery time 2- recovery quality and 3- recovery cost. Therefore, according to the research findings, it can be concluded that among the parameters before and after the failure, the most influential factors are the severity of failure, recovery cost and the probability of failure have the greatest impact on the resilience of financial technology businesses and failure prevention. have been.

Keywords

References

  • Amiri, H.; Pirdadeh Biranvand, M.; Nowrozi Amouqin, F. and Alizadeh, Sh. (2017). Estimating the indicators of vulnerability and resilience in Iran's economy, Strategic and Macro Policy Quarterly, 6(23), 434-455.
  • Andrew John, Zaili Yang, Ramin Riahi, Jin Wang. (2016), "A risk assessment approach to improve the resilience of a seaport system using Bayesian networks", Ocean Engineering111, 136–147.
  • Ates A., Bititci U. (2011) "Change process: A key enabler for building resilient SMEs", International Journal of Production Research,49(18):5601-5618.
  • Bhamra R., Dani S. (2011) "Creating resilient SMEs", International Journal of Production Research, 49:5373- 5374.
  • Cutter, S. L., Barnes, L., Berry, M., Burton, C., Evans, E., Tate, E., & Webb, J. (2008, October). A place-based model for understanding community resilience to natural disasters. Global Environmental Change, 18(4), 598-606. doi.org/10.1016/j.gloenvcha. 2008.07.013
  • Demmer W. A., Vickery S. K., Calantone R. (2011) "Engendering resilience in small and medium-sized enterprises (SMEs): A case study of Demmer Corporation", International Journal of Production Research, 49(18): 5395– 5413.
  • Ebrahimi, S. A.; Faiz, D. and Chit-Karan, H. (2016). Comprehensive analysis of factors affecting organizational resilience in small and medium-sized industries, Organizational Resource Management Research, 7(3), pp. 37-58.
  • Eftekhari Mahabadi, S. and Panahi, M. and Talebi, M. (2016). Designing an early warning system of bankruptcy in the banking system, 27th annual monetary and exchange policy conference, Tehran, https://civilica.com/doc/842441.
  • Falasca, M., Zobel, C.W. & Cook, C., 2008. A Decision Support Framework to Assess Supply Chain Resilience. 5th International ISCRAM Conference. Washington D.C., USA.
  • Ghasemi, H., Arab Mazar, A. (2019). Resilience index of budgeting system of Iranian economy. Quantitative Economics Research Quarterly, 17(2), pp. 173-199.
  • Gulati, R., 2010. Reorganize for Resilience: Putting Customers at the Center of Your Business Boston: Harvard Business Press.
  • Gunasekaran A., Bharatendra K. R., Griffin M. (2011) "Resilience and competitiveness of small and medium size enterprises: An empirical research", International Journal of Production Research,49 (18):5489-5509.
  • Herbane B. (2010) "Small business research: time for a crisis-based view", International Small Business Journal, 28 (1):43–64.
  • Jahangard, E.; Sohrabi-Wafa, H. and KaramatFar, M. (2018). The impact of macroeconomic variables on the resilience of banks with emphasis on the concept of capital adequacy, Science and Research of Modern Economy and Trade, 14(2), 6 consecutive, pp. 25-54.
  • Kamalahmadi, M.; Parast, M.M. (2016). A review of the literature on the principles of enterprise and supply chain resilience: Major findings and directions for future research. Int. J. Prod. Econ. 171, 116–133. [CrossRef]
  • Lengnick-Hall, C. A., & Beck, T. E. (2009). Resilience capacity and strategic agility: prerequisites for thriving in a dynamic environment. UTSA, College of Business.
  • Levy M., Loebbecke C., Powell P. (2003) "SMEs, co- opetition and knowledge sharing: The role of information systems", European Journal of Information System, 12: 3–17 .
  • Pal R., Torstensson H., Mattila H. (2014) "Antecedents of organizational resilience in economic crises-an empirical study of Swedish textile and clothing SMEs", International Journal of Production Economics, 147: 410-
  • Radović-Marković, M., Shoaib Farooq, M., & Marković, D. (2017). Strengthening the resilience of small and medium-sized enterprises. Review of applied socio-economic research, 345-356.
  • Rahimi, A.; Rad, A., and Motmani, A. (2017). Presenting an interpretative structural model of supply chain resilience in Iran's defense industries, Military Management Quarterly, Scientific-Research Journal, 18(71), 70-31.
  • Rey-Martí, A., Porcar, A. T., & Mas-Tur, A. (2015). Linking female entrepreneurs' motivation to business survival. Journal of Business Research, 68(4), 810-814.
  • Rostami, M.; Nabizadeh, A. and Shahi, Z. (2017). Factors affecting the credit risk of Iranian commercial banks with an emphasis on specific banking and macroeconomic factors, Scientific-Research Quarterly of Asset Management and Financing, 6(4), serial number (23), pp. 79-92.
  • Sahu, A. K., Datta, S., & Mahapatra, S. S. (2016). Evaluation and selection of resilient suppliers in fuzzy environment: exploration of fuzzy-VIKOR.Benchmarking: An International Journal, 23(3).
  • Soltani, Z., Khoshnoud, Z., Akbari Alashti, T. (1390). Financing mechanisms of small and medium-sized companies, Quarterly Journal of Monetary-Banking Researches (Scientific-Research) of the Central Bank of the Islamic Republic of Iran
  • Stokes D. (2002) "Small business management", Cornwall: Thomson.
  • Sullivan-Taylor B., Branicki L. (2011) "Creating resilient SMEs: Why one size might not fit all", International Journal of Production Research, 49(18): 5565– 5579.
  • Weick, K.E. & Sutcliffe, K.M., 2007. Managing the Unexpected: Resilient Performance in an Age of Uncertainty, 2 ed. San Francisco, CA: Wiley and Sons.
International Journal of Finance & Managerial Accounting
Volume 9, Issue 35 - Serial Number 35
October 2024
Pages 233-248

Files

Share

How to cite

Statistics