Providing a model of the behavior of buyers and sellers in country currency with a structural-interpretive approach

Document Type : Original Article

Authors

1 PhD Candidate in Business Management, Semnan Branch, Islamic Azad University, Semnan, Iran.

2 Assistant Prof., Department of Management, East Tehran Branch, Islamic Azad University, Tehran, Iran

3 Associate Prof., Department of Management, Semnan Branch, Islamic Azad University, Semnan, Iran.

Abstract

Currently, Iran is facing a devaluation of the currency, and irrational behaviors regarding the purchase of currency have created many problems for the country. The present study was conducted to investigate the behavior of buyers and sellers of foreign exchange with an interpretive structural approach. The statistical population of this study consists of 12 senior managers who have lived experience in economic and foreign exchange sector. In the qualitative part of this study, in-depth semi-structured interviews were used to collect information. The obtained data were analyzed in the coding process using continuous comparison method. In this study, first, open, axial and selective coding was performed. In the quantitative part, the method of structural interpretive modeling has been used. The structural-interpretive model of the study was presented at seven levels, with the highest level of components of the seller's ability to accept currency, knowledge-based companies, sanctions, and information costs; In the second level, the buyer's expected profit, the degree of attachment to the place and the emergence of bias, in the third level, currency exchange, the effects of contract structures, reduction of capital control and exchange, in the fourth level, seller costs, arbitrage, in the fifth level, legal and policy restrictions Related to government interventions, at the sixth level, exchange rate fluctuations and at the seventh level, exchange rate flexibility, interactions between the parties, and risk reduction policies were identified. Based on MICMAC analysis, the identified components were classified into affective or outcome, risk, target, regulatory and independent variables.

Keywords

References

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Financial Management Perspective
Volume 12, Issue 38
July 2022
Pages 161-189

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