TY - JOUR ID - 129422 TI - .Modeling the selection of the optimal stock portfolio based on the combined approach of clustered value at risk and Mental Accounting JO - Iranian Journal of Finance JA - IJF LA - en SN - 2676-6337 AU - Nikoo, seyedeh farrokh AU - Shams, Shahabeddin AU - Tehrani, Reza AU - Seighali, Mohsen AD - Department Of Financial Management, Qazvin Branch, Islamic Azad University, Qazvin, Iran. AD - Department of Financial Management, Qazvin Branch, Islamic Azad University, Qazvin, Iran. AD - Prof., Department of Finance, Faculty of Management, University of Tehran, Tehran, Iran. AD - Prof., Department of Financial Management, Qazvin Branch, Islamic Azad University, Qazvin, Iran. Y1 - 2021 PY - 2021 VL - 5 IS - 2 SP - 70 EP - 94 KW - portfolio optimization KW - mental accounting KW - value at risk DO - 10.30699/ijf.2021.265185.1187 N2 - This paper concentrates on the modelling of optimal stock portfolio selection based on Risk Assessment and Behavioral Financial Approach Mental Accounting and 28 expert’s opinion. In this approach developing the model approved by the opinion of academic and practical experts using quantitative and qualitative methods.  Using quarterly return data of industrial indices for ten years in form of eight training and two test years indicates that the performance of DMSS and MVO based portfolios is equal however by regarding the value at risk and liquidity constraints in modeling, DMSS based portfolios perform higher than MVO portfolios. UR - https://www.ijfifsa.ir/article_129422.html L1 - https://www.ijfifsa.ir/article_129422_0ac32ff7105db238c25a9a6ecf3b1433.pdf ER -