Presenting a Model for Supervision and Regulation of Financial Markets in Iran Based on Structural Equation Modeling and Adaptive Approach

Document Type : Original Article

Authors

1 Ph.D. Candidate of Finance, Islamic Azad University, Science and Research Branch, Tehran, Iran

2 Department of Financial Management, Science and Research Branch, Islamic Azad University, Tehran, Iran

3 Full professor of Accounting, Department of Accounting, Faculty of Management and Economics, science and research Branch, Islamic Azad University, Tehran, Iran

Abstract

This study presents a model for supervision and regulation of financial markets in Iran based on structural equation modeling and adaptive approach. In the present study, Delphi method and structural equation modeling are used to investigate the questions. Twelve experts have been interviewed for qualitative part of research to obtain sufficient information. Results from analysis of the interviews are presented in the framework of a conceptual model that is tested and validated by quantitative methods. In the quantitative research section, at the micro level of the research, a survey strategy is applied as well as a questionnaire tool to obtain required information (using literature review, research background and interview results). Statistical population at this stage are experienced financial market experts from money market, capital market and insurance market. Considering the population in this section, the sampling process is done randomly and by the available random sampling method. For the purpose of sampling, according to the statistical population of the research (75 people) which is considered small, complete enumeration approach is used. Finally, the research models were tested by structural equation method based on each research variable. The final model fitting for factors affecting the regulation of financial markets is tested based on the following variables and is fitted significantly.

Keywords