Okay, maybe I need to reword the question. I'm looking for the core mechanics
OK, first to clear up a few misconceptions ;-)
Most Parametes (as opposed to SP-Parameters and EX-Parameters) have no core mechanic, but only a default mechanic.
ATK, DEF, MAT and MDF are NOT used in any part of the game's scripts or core engine. The only place where they're used is the default damage formula placed in the skills, and that formula can (and often is) modified by the developer without ever touching any part of the programming.
If you combine that with the option that the parameter values can be anything from low numbers to several thousands, that should make it clear that it's the game developer who designs that part of the mechanics, he's only given a few default values to test (and those default values and default skills aren't exactly "balanced" in my opinioin).
LUK and AGI are the only parameters that have a "core mechanic", and even that is only minimal - AGI being the base number for the action speed and the order in which the skills are executed in default battle, LUK influencing the chance of being inflicted by a state or loosing it.
SP- and EX-Parameters have functions ingame - the more important ones of those parameters have their mechanic described in the Flowchart Archeia linked a few posts above.
But they are all percentage-based and more or less independant from each other. For Example, HIT is the percentage that determines the chance of a physical attack hitting the target. If the W%-Roll is below that number, the skill hits - if not, it misses. There is no modification by enemy for that roll, only the actor's own equipment can change the hit%.
After the hit, the enemy has a chance of evasion - that is another, different W% on the EVA value.
Other SP/EX-Parameters simply change the damage rates to simulate weakness or resistence, add regeneration rates or determine the chances for target selection and so on, but almost every value is independant of each other, only effecting that specific part of the engine.
Edit:
To make it more clear, ATK is (in default) a number that determines the damage done to the target, and weapons simply add ATK to increase the damage. DEF is used to reduce that damage in default, and armors add to DEF to reduce the damage. Neither value is used to determine hit percentages in default.