Identifying and prioritizing the factors of the smart money model in the Iranian stock market with hierarchical technique AHP

This study aims to identify the conditions and factors affecting smart money and prioritize the variables obtained based on these conditions in the Iranian stock market. This research method is applied in terms of purpose and based on data; it is a mixed type that was done to identify qualitative factors through interviews with experts and prioritize the identified quantitative factors using a questionnaire. The statistical population was selected using a sampling method with maximum diversity. The research model prioritized three levels with all specified conditions and factors and tested with software (Expert choice) and hierarchical analysis techniques. The incompatibility rate in all pairwise comparisons is less than 0.1, so the research model is approved. The criterion of causal conditions has gained the first rank in the first level. In the second level, among the categories (causal conditions, macroeconomic factors), (context conditions, laws and regulations imposed by the government) and (intervening conditions, Parallel Markets Behavior) rank first. At the third level, exchange rate fluctuations rank first.