Applying “Analysis of Hierarchical Process” Model (AHP) in Considering Appropriate Criteria for Selecting Stocks in Tehran Stock Exchange (in Persian)

Mehdi Abzari, Morteza Sameti and Mehdi Delbari
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Mehdi Abzari: Iran
Morteza Sameti: Iran
Mehdi Delbari: Iran

The Journal of Planning and Budgeting (٠صلنامه برنامه ریزی و بودجه), 2003, vol. 7, issue 5, 3-27

Abstract: Stock selection method in stock exchange is an important issue for investors in such markets. Investors will gain benefits more than market average provided that they make logical decisions while selecting stocks. The issue of stock selection in markets like Tehran Stock Exchange (that are not so efficient) is requires more attention of the investors as there is not a suitable equilibrium between stocks real value and their prices. Hence, getting access to ways that can assist the investors in selecting stocks (particularly in the mentioned markets) is highly important. This study uses “analysis of hierarchical process” model (AHP) to examine the suitable criteria for selecting stocks in Tehran Stock Exchange. Research method used here is descriptive-survey field study. Statistical population in the study is the experts of investment corporations. The paper first offers a hierarchy of criteria in order to study the criteria that are effective on selecting stocks. Then it analyses ideas gathered from the experts. The findings of the study indicate that the most important criteria from the experts’ viewpoint is the dividend. It also reveals that essential analysis outweighs the technical one. It is to be noted in the end that the model used in the paper is consistent.

Date: 2003
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