Simulating the Linguistic Variables Interactions in Capital Market Development Process Using Fuzzy Inference System in a System Dynamic Context

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MOHAMMADI ALI; MOSLEH SHIRAZI ALI NAGHI; ABBASI ABBAS; Akhlaghpour Saeed

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Journal: JOURNAL OF FINANCIAL MANAGEMENT STRATEGY Year:2019 | Volume:7 | Issue:25 Page(s): 239-271

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Title

Simulating the Linguistic Variables Interactions in Capital Market Development Process Using Fuzzy Inference System in a System Dynamic Context

Author(s)

MOHAMMADI ALI | MOSLEH SHIRAZI ALI NAGHI | ABBASI ABBAS | Akhlaghpour Saeed | Issue Writer Certificate

Keywords

Fuzzy inference systemQ1

System dynamicsQ1

Linguistic variablesQ1

Capital marketQ2

Abstract

This research aims at simulating the interactions of Linguistic variables affecting market capitalization of Capital market. In this regard, the dynamic model of the research has been designed by using a System dynamics approach and, in order to reflect investor’ s mentality, the Fuzzy inference system has been merged with System dynamics methodology. In this framework, the fuzzy membership functions of variables such as Market Efficiency, Market Manipulation, Investor’ s Knowledge and Culture, Market Trust, and Investor’ s Sentiment has been defined and Using Vensim DSS to simulate the scenarios, the validity of the model has been tested under systemic and statistical tests. This research is an applied study with an exploratory mixed method framework in line with ١ ٤ ٠ ٤ Vision. The results show that Simultaneous change in endogenous variables, results in faster and greater change in market capitalization than distinct change in each of this variables. Changing the Market Efficiency, Investor’ s Knowledge and Culture, and Market Manipulation in the demanded way will increase the market capitalization by ٧ ٧ ٪ in the comparison with base run simulation values. The results of sensitivity analysis shows that market capitalization is more sensitive to simultaneous change of endogenous variables than the distinct changes of each of these variables.

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APA: Copy

MOHAMMADI, ALI, MOSLEH SHIRAZI, ALI NAGHI, ABBASI, ABBAS, & Akhlaghpour, Saeed. (2019). Simulating the Linguistic Variables Interactions in Capital Market Development Process Using Fuzzy Inference System in a System Dynamic Context. JOURNAL OF FINANCIAL MANAGEMENT STRATEGY, 7(25 ), 239-271. SID. https://sid.ir/paper/402493/en

Vancouver: Copy

MOHAMMADI ALI, MOSLEH SHIRAZI ALI NAGHI, ABBASI ABBAS, Akhlaghpour Saeed. Simulating the Linguistic Variables Interactions in Capital Market Development Process Using Fuzzy Inference System in a System Dynamic Context. JOURNAL OF FINANCIAL MANAGEMENT STRATEGY[Internet]. 2019;7(25 ):239-271. Available from: https://sid.ir/paper/402493/en

IEEE: Copy

ALI MOHAMMADI, ALI NAGHI MOSLEH SHIRAZI, ABBAS ABBASI, and Saeed Akhlaghpour, “Simulating the Linguistic Variables Interactions in Capital Market Development Process Using Fuzzy Inference System in a System Dynamic Context,” JOURNAL OF FINANCIAL MANAGEMENT STRATEGY, vol. 7, no. 25 , pp. 239–271, 2019, [Online]. Available: https://sid.ir/paper/402493/en

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