Financial derivatives and risk management tools; Provide model and explanation by grounded theory method

Document Type : Original Article

Authors
Mahmood nikpasand 1
seyed alireza mirarab 2
Neda Farahbakhsh 3
1 Ph.D. Student, Faculty of Management and Accounting, Islamic Azad University, Rudehen, Tehran, Iran
2 Assistant Professor, Faculty of Management and Accounting, Islamic Azad University, Rudehen, Tehran, Iran.
3 Assistant Professor, Faculty of Management and Accounting, Islamic Azad University, Rudehen, Tehran, Iran
10.30495/jik.2025.23533
Abstract
The purpose of this study is to provide a model to explain the use of financial derivatives in risk management. Accordingly, using a combination of two non-random methods of snowball and judgment, the opinions of 15 experts in the field of risk management and derivatives in the Tehran Stock Exchange and investment companies, up to the theoretical saturation stage, were used. In this research, open coding was performed using grounded theory and line-by-line analysis of interviews. During the open coding, 93 items were obtained as basic concepts from the text of the interviews, which were classified into 17 categories. Then, the results of the interviews were validated and the components of the research model were screened using a questionnaire and the fuzzy Delphi method. Finally, the research paradigm model was presented in six sections: causal conditions, main phenomenon, contextual conditions, intervening conditions, strategies and consequences.
Keywords
Derivatives
risk management
financial markets
grounded theory
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