Providing a new performance model for building trust and systematic confidence to play in the Iranian capital market (Using Vickor model focusing on independence in the game of personal investors from institutional investors)

Articles in Press

Document Type : Original Article

Authors
Mahdi Bayatmanesh 1
Hashem Nikoumaram 2
Adel Peyghami 3
Freydoon Rahnamaye Roodposhti 2
Mohammadreza Monjazeb 4
1 Islamic Azad university,Reasearch ans science Branch,Phd student
2 Iran Tehran Islamic Azad university,Reasearch ans science Branch,Phd student
3 Iran Tehran Imam sadeq University
4 Associate Professor, Faculty of Economics, Kharazmi University, Tehran, Iran
10.30495/jik.2024.64224.3775
Abstract
Market design is a new branch of economics that is entering the Iranian capital market from a combination of empirical studies, behavioral financial economics and financial management. Stability and compatibility are two important and key features in market design. Stability causes groups to voluntarily participate in the market. Compatibility prevents market participants from engaging in strategic behaviors and declaring their preferences false, because the desirability of announcing real preferences is higher than the desirability of declaring false preferences. This is because everyone is motivated to state their preferences correctly. Iran's capital market has returned 25 percent to 50 percent of the index value after the historic fall from August 11, 2016, but the stability and reliability of this market due to the ambiguity in the conflict of interests between real and legal actors has not yet reached a point of certainty. Has not actively returned to the stock market. Given the current conditions of the Iranian capital market, this article aims to provide a model for improving the efficiency of the market system, which examined the opinion of capital market elites with defined criteria with the Vickor model. In this model, the systematic efficiency of the market was examined by focusing on the independence of the real game from the legal ones due to the ambiguity and uncertainty of the real ones from the legal ones and the existing distrust.
Keywords
Market separation
market design
segmentation of the real market from the legal one
Vickor model