A hybrid neuro fuzzy decision-making approach to the participants of derivatives market for fintech investors in emerging economies  

作　　者：Dadan Rahadian Anisah Firli Hasan Dincer Serhat Yüksel Alexey Mikhaylov Fatih Ecer 

机构地区：[1]The School of Economics and Business,Telkom University,Jakarta,Indonesia [2]The School of Business,İstanbul Medipol University,İstanbul,Turkey [3]Adnan Kassar School of Business,Lebanese American University,Beirut,Lebanon [4]Financial University Under the Government of the Russian Federation,Moscow,Russia [5]School of Business,Afyon Kocatepe University,Afyonkarahisar,Turkey [6]Clinic of Economics,Azerbaijan State University of Economics(UNEC),Istiqlaliyyat Str.6,Baku,AZ1141,Azerbaijan

出　　处：《Financial Innovation》2024年第1期3761-3778,共18页金融创新(英文)

摘　　要：The risk profiles of investors play an important role in the success of derivative products investments.It is also necessary to determine the appropriate investor profile according to the conditions of a country.This protects investors from major losses.Therefore,there is a strong need for a new study that analyzes the risk profiles of derivative products in emerging economies.This study aims to identify the most appropriate investor risk profile for derivative instruments in emerging economies.It constructs a novel decision-making model.In this model,the facial action coding system,quantum theory,spherical fuzzy sets,and multi-stepwise weight assessment ratio analysis(M-SWARA)methodology are integrated to minimize uncertainty in this process.First,three main participants of derivatives for financial technology investors are evaluated using the quantum spherical fuzzy M-SWARA technique.After that,seven emerging economies are ranked based on this performance using quantum spherical fuzzy technique for order of preference by similarity to ideal solution.The main contribution is that an appropriate investor profile is identified for financial derivative investments in emerging economies.One of the important originalities of this study is the development of a new technique called M-SWARA by making some improvements to the classical stepwise weight assessment ratio analysis method.It is concluded that hedging is the most appropriate purpose for making investments in derivative products in emerging economies.It is also identified that China has the greatest performance among the seven emerging economies regarding the appropriate purpose for making derivative investments.For the effective management of this problem in these countries,it is recommended to prevent the speculative use of derivative products with legal regulations.

关 键 词：Derivative investments Financial innovation Effciency Decision making 

分 类 号：O62[理学—有机化学]