Sensitivity Analysis of Ranking the Factors Influencing the Investment Decision in Tehran Stock Exchange Listed Companies



In the changing world of the stock exchange, determining and analyzing the attributes influencing Investors decisions of Tehran stock exchange seems to be a necessary concern. Having these influential investment attributes and knowing their importance make a capability that investor can choose the best selection among listed companies. In this paper, first we identify the appropriate attributes and use TOPSIS technique to rank the participating companies according to influential attributes, then we propose a method to recognize critical attributes and finally we perform a sensitivity analysis to examine the sensitiveness of our ranking by variation of critical attributes. Result shows that five sensitive attributes are: gross profit to sales ratio, earning per share (EPS), dividend pay-out ratio (DPR), production growth ratio, and times-interest-earned ratio. Among them, because of the minimal variations, EPS was recognized as the most sensitive attribute.