Document Type : Research Paper
Abstract
Purpose: Today,the expansion of global competition and technological advancements have led to more complex business environments. Stock and securities companies are not exempted from this rule. The purpose of this research is to design a structural model of non-financial risks in Yazd stock and securities brokerage companies.
Method: This research is applied in terms of purpose and descriptive-survey in nature. The statistical population is experts, managers and employees of Yazd stock and securities brokerage companies. The tool of data collection was a paired questionnaire, in order to complete it,15 managers and experts were selected as a sample using the judgmental sampling method. After presenting the conceptual model of the research, in order to fit the obtained model, a number of 200 questionnaires were distributed among the employees of the stock brokerage companies in Darized, of which 171 questionnaires were returned.
Results: The results of this research showed that management risk has a positive and significant effect on network and infrastructure risk, as well as network and infrastructure risk on the risks of laws and regulations, population risk, and competitive risk. It is also possible to look at the effect of the risks of laws and regulations, demographic risk and competitive risk on operational risk and the effect of operational risk on customer-related risk.
Conclusion: Stock exchanges and securities markets play an important role in the economy of any country and allow companies and investors to take advantage of the financial resources of the capital market and perform financial operations. Risk management is also very important in these companies, because failure to manage these risks can have a significant effect on their performance and profitability; therefore, this research deals with the design of a communication model between types of non-financial risks.
Contribution: Risk management in stock exchange companies is one of the critical factors in the success and stability of these companies. Considering the dynamic nature of the capital market and the ability of risks to have a high impact on the performance of companies, it is essential and vital to pay attention to the management of these risks.
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