Developing a model for supporting micro-investors in the Iranian capital market (With emphasis on financial institutions)
Quarterly Journal of Securities Exchange

Quarterly Journal of Securities Exchange

Developing a model for supporting micro-investors in the Iranian capital market (With emphasis on financial institutions)

Document Type : Original Article

Authors
1 Department of Accounting, Aliabad katoul Branch, Islamic Azad University, Aliabad katoul, Iran
2 Department of Financial engineering, Aliabad katoul Branch, Islamic Azad University, Aliabad katoul, Iran
Abstract
The purpose of this study is to develop a model for supporting micro-investors in the Iranian capital market with emphasis on financial institutions. The faculty of the university and the people working in the capital market supervisory pillars, by using the research method of grounded theorizing and analyzing the data obtained from the interview, the effective factors on protecting the rights of investors have been studied. Also, using open, central and selective coding, concepts, categories, characteristics and dimensions of categories were extracted and the mentioned categories were classified into causal conditions, strategies, intervening conditions, contextual conditions and finally consequences. The obtained model was approved after refinement by presenting to five faculty members, four of whom had not previously participated in the interview. The results of this study showed that factors such as financial support, legal support, media support, educational support, cultural support, information transparency support, investor accountability support, regulatory support, reporting transparency support, quality support Accounting and corporate governance can build trust in the capital market and encourage small investors to operate in the capital market.
Keywords

ندری، کامران و حسینی، سیدمحمدرضا(1394) «تاثیر حمایت از حقوق مالکیت سهامداران خرد بر ارزش بازار سرمایه کشورهای منتخب با استفاده از روش پانل دیتا» توصیه­هایی برای قوانین و مقررات بازار سرمایه ایران،  تحقیقات مالی اسلامی، بهار و تابستان 1394 دوره 4 شماره 2پیاپی 8) ; از صفحه 159 تا صفحه 186).
حمیدیان، محسن؛ تقی زاده، نفیسه (1397) «کیفیت حسابرسی، حمایت از سرمایه گذاران و مدیریت سود در دوران بحران مالی» دانش حسابرسی ، تابستان 1397، دوره 18، شماره 71، از صفحه 129 تا صفحه 148.
کمیجانی، اکبر؛ سهیلی احمدی، حبیب(1391) «تحلیل و بررسی نقش حمایت از حقوق سهام داران
در گسترش بازار سهام در منتخبی از کشورهای در حال توسعه» مطالعات اقتصادی کاربردی
ایران (مطالعات اقتصادی کاربردی)
بهار 1391 , دوره  1 , شماره  1 ; از صفحه 41 تا
صفحه 62 .
حسینی، سید محمد رضا (1392)،«تأثیر حمایت از حقوق مالکیت سهامداران خرد بر ارزش بازارسرمایه کشورهای منتخب با استفاده از روش پانل دیتا» توصیه­های اصلاحی برای قوانین و مقررات ،بازار سرمایه ایران، همایش بهبود فضای کسب و کار در ایران؛ 17آبان  1392.
Lavanya& hema, N. Jayaprada A Review of Studies on Investor ProtectionM. (2018). IJIRST –International Journal for Innovative Research in Science & Technology| Volume 4 | Issue 9| February 2018ISSN (online): 2349-6010All rights reserved by www.ijirst.org94.
Giofré, Maela(2014).Domestic investor protection and foreign portfolio investment, Journal of Banking & Finance,Volume 46, September 2014, Pages 355-371
Gao Ya & iao . ChiL & Zhang, Ying  & Zhang ,  Zixu (2021). The role of investor protections on the value of investment banking relationships: International evidence,Journal of International Financial Markets, Institutions and Money,Volume 72, May 2021, 101313
Suman, S. (2016) Analysis of the role of Securities Exchange Board of India. Legal Services India
Sáncheza, I. M. G., Aceitunob, J. V. F. & Domíngueza, L. R. (2015). The ethical commitment of independent directors in different contexts of investor. Protection. Business Research Quarterly, Volume 18, pp. 81-94.
Kothiya, D. K., (2012). Investors' Protection and Role of SEBI as a Regulatory Agency. Issue
Lin, T. C. W. (2015). Reasonable investor(s). Boston University Law Review, Volume 95, pp. 461-518.
Aguilar, L. A (2015). Effective Regulatory Oversight and Investor Protection Requires Better Information. s.l., Harvard Law School Forum on Corporate, Governance and Financial Regualtion
Zhou Jing &  Lan Wei(2018).Investor protection and cross-border acquisitions by Chinese listed firms: The moderating role of institutional shareholders, International Review of Economics & Finance,Volume 56, July 2018, Pages 438-450
Akron Sagi&.,Samdani Taufique(2017).Investor protection and institutional investors’ incentive for information production , Journal of Financial StabilityVolume 30, June 2017, Pages 1-15
Cao, Xiaping, &  Cumming, Douglas&Goh, Jeremy, & Wang, Xiaoming (2019).The impact of investor protection law on global takeovers: LBO vs. non-LBO . Journal of International Financial Markets, Institutions and Money ,Volume 59, March 2019, Pages 1-18
Kamarudin,Khairul Anuar&,Ariff  Akmalia  &Jaafar, Aziz (2020). Investor protection, cross-listing and accounting quality, Journal of Contemporary Accounting & Economics,Volume 16, Issue 1, April 2020, 100179
Moortgat, Leentje& Annaert,  Jan& Deloof Marc (2017).Investor protection, taxation and dividend policy: Long-run evidence, 1838–2012. Journal of Banking & Finance.Volume 85, December 2017, Pages 113-131
Larrain, Borja &Tapia Matías &Urzúa I., Francisco (2017). Investor protection and corporate control, Journal of Corporate Finance14 September 2017...