Efficient Model for Certificate of Agricultural Commodity Deposit in Iranian Capital Market

Abstract

A commodity deposit certificate is a way to facilitate trading, financing, and risk management through the commodity exchange market system. Since this instrument is developed based on agricultural products in the capital market, the following studies indicate that for its development and effectiveness in Iran, the various aspects of its policy, legal, economic and financial implications require consideration. In this research, using survey studies and expert opinions, the effective factors of success of the model used in the field of commodity deposit certificates in agriculture have been identified and then the related relationships with structural-interpretive model (ISM) have been analyzed. The results imply that "policies and regulations" as well as "infrastructure" at the highest level and "economic" and "culturalization" dimensions at the next level have the greatest impact on the development of commodity deposit certificates in agriculture. Therefore, suggestions for improvement and development of this tool in order to maximize its efficiency have been provided in the form of components corresponding to these dimensions