TY - JOUR ID - 149139 TI - Designing and explaining the decision-making model of shareholders with a comparative approach to classical finance and behavioral finance in the capital market JO - Journal of Industrial and Systems Engineering JA - JISE LA - en SN - 1735-8272 AU - Pir Hayati, Leyla AU - Minouei, Mehrzad AU - Fallah Shams, Mirfeiz AD - Department of Industrial Management, Central Tehran Branch, Islamic Azad University, Tehran, Iran Y1 - 2022 PY - 2022 VL - 14 IS - 2 SP - 268 EP - 283 KW - Decision-making of shareholders KW - Comparative Approach KW - classical finance KW - Behavioral Finance DO - N2 - The title of the present study is designing and explaining the decision-making model of shareholders with a comparative approach to classical finance and behavioral finance in the capital market. The traditional finance viewpoint assumes that people make rational decisions to maximize wealth at a certain level of risk or minimize risk at a certain level of wealth. Such an approach, which states "how people should behave," is called norm. In this study, in the first stage, based on the literature review and using the previous related studies, a complete list of fifty-seven factors affecting the decision-making model of shareholders was provided to the members of the experts’ panel in the form of a questionnaire for the sake of weighting. The DANP technique was then used. The results show that political factors, economic factors, market psychological factors, cognitive factors, emotional factors, and finally financial factors have the highest effect at the company level. UR - https://www.jise.ir/article_149139.html L1 - https://www.jise.ir/article_149139_23b13c2b1ead3b57c33681073b8e2f79.pdf ER -