خلاصة:
The current research was carried out with the title of identifying the structural pattern of economic policy uncertainty, financial market instability and stock liquidity of Tehran Stock Exchange. This research was done in an exploratory way. In the qualitative method, using the theme analysis technique, and in the quantitative method, the modeling has been done with the interpretive structural method. The researched community is stock exchange experts and managers, 12 people were selected as a sample using the snowball method. The data collection tool in this research is a semi-structured interview. Considering its importance in the theme analysis approach, the process of analyzing the data obtained from the text of the interviews was done at the same time as the data was collected through three stages of open coding and they were classified in the form of themes and subcategories. To ensure validity and reliability based on Cohen's kappa index, the value of 0.87 was confirmed. In the following, based on the identified indicators, the input matrix of the interpretive structural technique was formed and interpretive modeling was done Changes in the inflation rate, currency policy, and momentary fluctuations in the market can directly or indirectly affect the liquidity of stocks and the instability of the financial market. These correlations show the rationality of the market in the light of the incomplete market hypothesis and clearly show the importance of capital structure management, income growth, market adaptation, and news and events in stock market policy and management.
ملخص الجهاز:
Therefore, this research seeks an answer to the question: what is the structural pattern of economic policy uncertainty, financial market instability, and the liquidity of Tehran Stock Exchange shares?
Uncertainty, market fluctuations, economic news and events, companies' financial information, and trading volume are among the factors that have a direct impact on stock liquidity.
Table 2: Identified Final Themes Themes of the structural pattern of economic policy uncertainty, financial market instability, and stock liquidity of the Tehran Stock Exchange Overarching themes, constructive themes, primary themes , monetary policy, changes in the level of money supply and demand can be presented as a factor of uncertainty in monetary policy.
Themes of the structural pattern of economic policy uncertainty, financial market instability, and stock liquidity of the Tehran Stock Exchange Overarching themes, constructive themes, primary themes , capital structure, capital structure also plays an important role in the decision-making of investors.
(Refer to the page image) Figure 1: Proposed structural model Conclusion The present research was conducted under the title "Identifying the structural pattern of economic policy uncertainty, financial market instability, and stock liquidity of the Tehran Stock Exchange.
In the analysis of the structural pattern of economic policy uncertainty, financial market instability, and stock liquidity of the Tehran Stock Exchange, it has been determined that economic growth has a significant impact on the profitability of companies, and this relationship can intensify uncertainty in the market.
Overall, economic policy uncertainty and un financial market instability can cause a weakening of investor confidence, an increase in market fluctuations, and a decrease in stock liquidity.
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