Evaluation of Cooperation Strategy in Financial Services Supply Chain Based on Prospect Theory and Game Theory
Based on the prospect theory, the current research evaluated the cooperation strategy in the financial services supply chain. This research was descriptive in data collection and quantitative in terms of method. The game theory approach in this research was modeled using the Stackelberg approach. Co...
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| Format: | Article |
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Ferdowsi University of Mashhad
2023-01-01
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| Series: | Iranian Journal of Accounting, Auditing & Finance |
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| Online Access: | https://ijaaf.um.ac.ir/article_42956_bee33b5dd17dd6e2b0957e88aa2587c2.pdf |
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| author | Mohammad Shahab Rezvani Hannan Amoozad Mahdiraji Ezatollah Abbasian Mohammadreza Mehregan |
| author_facet | Mohammad Shahab Rezvani Hannan Amoozad Mahdiraji Ezatollah Abbasian Mohammadreza Mehregan |
| author_sort | Mohammad Shahab Rezvani |
| collection | DOAJ |
| description | Based on the prospect theory, the current research evaluated the cooperation strategy in the financial services supply chain. This research was descriptive in data collection and quantitative in terms of method. The game theory approach in this research was modeled using the Stackelberg approach. Cooperation strategies in the supply chain included reducing sensitivity, expanding profits, avoiding losses, and relying on references. The 4-player game was used to achieve the best cooperation path. The statistical population of the research was specialists, experts, and managers of companies providing financial services, among which 135 participants were selected as the statistical sample. According to the results, some of the paths of the cooperation model in financing were eliminated, and 24 paths remained out of 81 available options. Then, using the Stackelberg competition, the weights of each route were determined. Finally, with Stackelberg's competition calculations, the best cooperation path was determined, which included the guidance of financing management, the flexibility of financing service providers, the attraction of partners' support policies, and the allocation of financial resources based on the profit expansion prospect. Unlike most empirical studies of supply chain management, which use partners' data at the business unit or strategic partner level, in this research, game theory based on prospect theory was used to evaluate the cooperation strategy. The supply chain of financing services is created to solve financial problems, and different companies, according to the characteristics of their industry, adopt different cooperation strategies based on maximizing their profit in this chain of cooperation. |
| format | Article |
| id | doaj-art-012a91f5fe76406f8a0d09442b24c56c |
| institution | Kabale University |
| issn | 2717-4131 2588-6142 |
| language | English |
| publishDate | 2023-01-01 |
| publisher | Ferdowsi University of Mashhad |
| record_format | Article |
| series | Iranian Journal of Accounting, Auditing & Finance |
| spelling | doaj-art-012a91f5fe76406f8a0d09442b24c56c2024-12-25T06:46:17ZengFerdowsi University of MashhadIranian Journal of Accounting, Auditing & Finance2717-41312588-61422023-01-01719310810.22067/ijaaf.2023.42956.122342956Evaluation of Cooperation Strategy in Financial Services Supply Chain Based on Prospect Theory and Game TheoryMohammad Shahab Rezvani0Hannan Amoozad Mahdiraji1Ezatollah Abbasian2Mohammadreza Mehregan3Department of Industrial Management, Kish International Campus, University of Tehran, Kish, IranDepartment of Industrial Management, Faculty of Management, University of Tehran.Tehran, IranDepartment of Public Administration, Faculty of Management, University of Tehran, Tehran, IranDepartment of Industrial Management, Faculty of Management, University of Tehran, Tehran, IranBased on the prospect theory, the current research evaluated the cooperation strategy in the financial services supply chain. This research was descriptive in data collection and quantitative in terms of method. The game theory approach in this research was modeled using the Stackelberg approach. Cooperation strategies in the supply chain included reducing sensitivity, expanding profits, avoiding losses, and relying on references. The 4-player game was used to achieve the best cooperation path. The statistical population of the research was specialists, experts, and managers of companies providing financial services, among which 135 participants were selected as the statistical sample. According to the results, some of the paths of the cooperation model in financing were eliminated, and 24 paths remained out of 81 available options. Then, using the Stackelberg competition, the weights of each route were determined. Finally, with Stackelberg's competition calculations, the best cooperation path was determined, which included the guidance of financing management, the flexibility of financing service providers, the attraction of partners' support policies, and the allocation of financial resources based on the profit expansion prospect. Unlike most empirical studies of supply chain management, which use partners' data at the business unit or strategic partner level, in this research, game theory based on prospect theory was used to evaluate the cooperation strategy. The supply chain of financing services is created to solve financial problems, and different companies, according to the characteristics of their industry, adopt different cooperation strategies based on maximizing their profit in this chain of cooperation.https://ijaaf.um.ac.ir/article_42956_bee33b5dd17dd6e2b0957e88aa2587c2.pdfcooperation strategyprospect theoryprofit expansionstackelberg method |
| spellingShingle | Mohammad Shahab Rezvani Hannan Amoozad Mahdiraji Ezatollah Abbasian Mohammadreza Mehregan Evaluation of Cooperation Strategy in Financial Services Supply Chain Based on Prospect Theory and Game Theory Iranian Journal of Accounting, Auditing & Finance cooperation strategy prospect theory profit expansion stackelberg method |
| title | Evaluation of Cooperation Strategy in Financial Services Supply Chain Based on Prospect Theory and Game Theory |
| title_full | Evaluation of Cooperation Strategy in Financial Services Supply Chain Based on Prospect Theory and Game Theory |
| title_fullStr | Evaluation of Cooperation Strategy in Financial Services Supply Chain Based on Prospect Theory and Game Theory |
| title_full_unstemmed | Evaluation of Cooperation Strategy in Financial Services Supply Chain Based on Prospect Theory and Game Theory |
| title_short | Evaluation of Cooperation Strategy in Financial Services Supply Chain Based on Prospect Theory and Game Theory |
| title_sort | evaluation of cooperation strategy in financial services supply chain based on prospect theory and game theory |
| topic | cooperation strategy prospect theory profit expansion stackelberg method |
| url | https://ijaaf.um.ac.ir/article_42956_bee33b5dd17dd6e2b0957e88aa2587c2.pdf |
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