Purpose

The citizen-shareholder approach in the capital market is considered a knowledge-enhancing and emerging concept in financial and accounting offerings. Its reliable background in management and human sciences makes it an essential basis for protecting the interests of shareholders and investors. Shareholders are considered a necessary part of the social platforms that are companies and regulatory institutions in the capital market; beyond being obligated to protect their material and intellectual rights, they are responsible for developing norms and facilitating investment values and gaining trust through mutual interactions based on respect for their interests. The purpose of this paper is to perform interactive qualitative analysis of the requirements for protecting the rights of citizens of capital market shareholders.

Design/methodology/approach

The methodology of the research is mixed, so that in the qualitative part, through content screening, the dimensions related to the protection of the citizen rights of the capital market shareholders were identified through a systematic review of 10 research in the period of 2017–2022. Then, the reliability of the specified dimensions was examined through Delphi analysis; in the quantitative part of the research, the criteria identified through the pairwise comparison matrix were first determined by the level of their relationships to determine based on the pattern of systemic representation of drivers and the consequences of requirements to protect the rights of citizens of capital market shareholders.

Findings

The research results in the qualitative part indicated the existence of 12 primary themes; during the two stages of Delphi analysis, three themes were removed, and a total of nine themes entered the quantitative phase. The results in a quantitative part indicate the creation of specialized and active committees of the board of directors as the primary driver and the reliability and timely disclosure of information in the long term as a systemic consequence.

Originality/value

To the best of the authors’ knowledge, this is the first research that presents the new concept of citizen shareholders to strengthen the requirements of protecting the rights of shareholders in the capital market while developing new theoretical literature.

中文翻译：

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建立保护资本市场股东公民权利的框架：来自伊朗的证据

目的

资本市场中的公民股东方式被认为是金融和会计产品中的知识增强和新兴概念。其可靠的管理和人文科学背景使其成为保护股东和投资者利益的重要基础。股东被认为是资本市场上公司和监管机构社交平台的必要组成部分；除了有义务保护自己的物质权利和知识产权之外，他们还有责任制定规范、促进投资价值，并通过在尊重其利益的基础上相互互动来赢得信任。本文的目的是对资本市场股东公民权利保护的要求进行交互式定性分析。

设计/方法论/途径

研究方法混杂，因此在定性部分，通过内容筛选，通过对2017-2022年期间10项研究的系统回顾，确定了与资本市场股东公民权利保护相关的维度。 。然后，通过德尔菲分析检验了规定尺寸的可靠性；在研究的定量部分，通过两两比较矩阵确定的标准首先根据其关系水平来确定，根据驱动因素的系统代表性模式和后果要求来确定，以保护资本市场公民的权利股东。

发现

定性部分的研究结果表明存在12个主要主题；德尔菲分析的两个阶段中，删除了三个主题，共有九个主题进入定量阶段。定量部分的结果表明，成立专门且活跃的董事会委员会是主要驱动力，而从长远来看，信息披露的可靠性和及时性是系统性的结果。

原创性/价值

据作者所知，这是首次提出公民股东新概念的研究，以强化资本市场股东权利保护的要求，同时发展新的理论文献。