2023/04/26 by Mohsen Mortazavi, Mortazavi, Mohsen
Decision Sciences · Engineering · Mathematics · #Actuarial science #Computer science #Dividend #Econometrics #Economics #Engineering #FOS: Economics and business #Finance #Financial economics #Fuzzy logic #General Economics (econ.GN) #Mathematics #Operations research #Portfolio #Profitability index #Stock (firearms) #Stock Market Forecasting Methods #Stock exchange
paper · pdf · doi:10.48550/arxiv.2304.13818
published in arXiv (Cornell University) (Cornell University)
openalex publication_date 2023/04/26 · openalex created_date 2023/04/30 · openalex updated_date 2026/07/28
Choosing the right stock portfolio with the highest efficiencies has always concerned accurate and legal investors. Investors have always been concerned about the accuracy and legitimacy of choosing the right stock portfolio with high efficiency. Therefore, this paper aims to determine the criteria for selecting an optimal stock portfolio with a high-efficiency ratio in the Toronto Stock Exchange using the integrated evaluation and decision-making trial laboratory (DEMATEL) model and Multi-Criteria Fuzzy decision-making approaches regarding the development of the Gordon model. In the current study, results obtained using combined multi-criteria fuzzy decision-making approaches, the practical factors, the relative weight of dividends, discount rate, and dividend growth rate have been comprehensively illustrated using combined multi-criteria fuzzy decision-making approaches. A group of 10 experts with at least a ten-year of experience in the stock exchange field was formed to review the different and new aspects of the subject (portfolio selection) to decide the interaction between the group members and the exchange of attitudes and ideas regarding the criteria. The sequence of influence and effectiveness of the main criteria with DEMATEL has shown that the profitability criterion interacts most with other criteria. The criteria of managing methods and operations (MPO), market, risk, and growth criteria are ranked next in terms of interaction with other criteria. This study concludes that regarding the model's appropriate and reliable validity in choosing the optimal stock portfolio, it is recommended that portfolio managers in companies, investment funds, and capital owners use the model to select stocks in the Toronto Stock Exchange optimally.