A Model for New Financial Product Development in the Capital Market of Iran

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DIVANDARI ALI; ESFIDANI MOHAMMAD RAHIM; Fadaei Nejad Mohammad Esmaiel; JALILIAN HOSSEIN

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Journal: Management Research in Iran Year:2020 | Volume:24 | Issue:1 Page(s): 81-105

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Title

A Model for New Financial Product Development in the Capital Market of Iran

Author(s)

DIVANDARI ALI | ESFIDANI MOHAMMAD RAHIM | Fadaei Nejad Mohammad Esmaiel | JALILIAN HOSSEIN | Issue Writer Certificate

Keywords

New ProductQ1

Capital MarketQ1

Financial Services MarketingQ1

Grounded TheoryQ1

Abstract

Research studies on new financial products development in the Capital Markets of Islamic countries and Iran have often focused on the technical and shari'ah (religious) design of financial products and neglected the marketing approach to the New Product Development (NPD). The purpose of this research is to explore important categories and determine their relationships in order to provide a model for developing new financial products in the Capital Market of Iran with a marketing approach. In this qualitative research, the Grounded Theory strategy was used to design the research model. To identify academic-executive New Products experts in the Capital Market, snow-ball sampling were used and after 14 interviews, theoretical saturation was obtained. The collected data were implemented in Word software and analyzed using Maxqda software. The research data were analyzed in three stages: open coding (712 descriptive codes), axial coding and selective coding. The findings show that the final model consists of 6 main categories, 20 subcategories and 129 abstract concepts. The most frequent concepts were respectively intervening conditions (69 codes), causal conditions (15 codes), strategies (13 codes), contextual conditions (12 codes), core phenomenon and outcomes (each of them 10 codes). The “ stages” of new financial product development were identified as core phenomenon of the model. The research findings show that Capital Market managers and policy makers need to pay attention to all categories of causal conditions, intervening conditions, contextual conditions, strategies and outcomes of New Product development, and take a marketing and multifaceted approach to new financial products development.

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APA: Copy

DIVANDARI, ALI, ESFIDANI, MOHAMMAD RAHIM, Fadaei Nejad, Mohammad Esmaiel, & JALILIAN, HOSSEIN. (2020). A Model for New Financial Product Development in the Capital Market of Iran. MANAGEMENT RESEARCH IN IRAN (MODARES HUMAN SCIENCES), 24(1 ), 81-105. SID. https://sid.ir/paper/408448/en

Vancouver: Copy

DIVANDARI ALI, ESFIDANI MOHAMMAD RAHIM, Fadaei Nejad Mohammad Esmaiel, JALILIAN HOSSEIN. A Model for New Financial Product Development in the Capital Market of Iran. MANAGEMENT RESEARCH IN IRAN (MODARES HUMAN SCIENCES)[Internet]. 2020;24(1 ):81-105. Available from: https://sid.ir/paper/408448/en

IEEE: Copy

ALI DIVANDARI, MOHAMMAD RAHIM ESFIDANI, Mohammad Esmaiel Fadaei Nejad, and HOSSEIN JALILIAN, “A Model for New Financial Product Development in the Capital Market of Iran,” MANAGEMENT RESEARCH IN IRAN (MODARES HUMAN SCIENCES), vol. 24, no. 1 , pp. 81–105, 2020, [Online]. Available: https://sid.ir/paper/408448/en

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