Use of DEMATEL Ttechnique and ANP in the Prioritization Factors Affecting Stock Selection in Tehran Stock Exchange

Investing in the stock requires sufficient knowledge. This information includes the identification of firms and different stocks and their performance during activities and to achieve the investment objective of profitable investment, choose the best stocks plays an important role. But the analysis of this matter because of the effective and great variables, make double the complexity of the task. In this article, we have tried some of these factors in selecting the optimal stock portfolio and investors priorities with regard to the relationship between agents and ranking them with identify and review using the DEMATEL techniques and analysis network process. Factors considered in this paper, after reviewing the relevant literature and consultation with experts and activists in this area include risk, return on equity, liquidity, dividends, free float stocks, security portfolio, the proportion of shares, financial ratios and market trends measures as the great criterions are in customer preferences and in the stock options have been considered. As well as to review these criteria, risk-free investment bonds options, automobile industry, steel industry and the oil industry stocks is considered. In this paper, using DEMATEL technique for evaluating and ranking factors with regard to internal communication between them and draw cause and effect diagram and analysis network process is used for the final ranking options.