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Open Access Article
1 - Salience Theory and Pricing Stock of Corporates in Tehran Stock Exchange
Parvaneh Khaleghi Mohammadali Aghaei Farzin RezaeiHow the investors react to the received information plays a crucial role in determining the return of stock exchange market. Supply and demand based upon incorrect decisions lead to the price deviation of inherent values. This paper aims to study the impact of salience MoreHow the investors react to the received information plays a crucial role in determining the return of stock exchange market. Supply and demand based upon incorrect decisions lead to the price deviation of inherent values. This paper aims to study the impact of salience phenomenon on disproportionate pricing and investor overreaction in the corporates in Tehran stock exchange. Research methodology is correlative. Statistical sample involves 120 corporates accepted by Tehran stock exchange during 2012-2016. To test the hypotheses, a regression analysis method has been selected. Research findings have indicated that there exists a promising phenomenon in Tehran stock exchange causing the investors overreaction followed by the disproportionate pricing and also, the results have shown that the impact of salience is different on strong and weak information environments. Manuscript profile -
Open Access Article
2 - Impact of Managers’ Optimism on the Relationship between Patience of Major Shareholders and Information Influence Management
Hossein Rostami Farzin Rezaei Abdolsamad KhalatbariBehavioral financial knowledge deals with the behavior of investors and other users in the capital market. According to the financial knowledge, it is no longer expected that only factors such as accounting information and macroeconomic variables will affect decision-ma MoreBehavioral financial knowledge deals with the behavior of investors and other users in the capital market. According to the financial knowledge, it is no longer expected that only factors such as accounting information and macroeconomic variables will affect decision-making but also a variety of behavioral variables including manager’s optimism, information influence management, patience of major shareholders and other investors' biases can have an impact on the prices and stock returns. The purpose of this study was to investigate the impact of managers' optimism on the relationship between the patience of major shareholder and information influence management. This study attempts to investigate the relationship between these behaviors and information influence management by measuring the degree of major shareholders patience and managers’ optimism. This is a descriptive post-event research. The study population consisted of the companies listed on Tehran Stock Exchange (n = 87) between the years 2008 and 2017. Multivariate regression was used to test the hypotheses. The findings showed no significant relationship between the major shareholders patience and the information influence management (high, low, balanced). Further, it was found that managers’ optimism has a significant effect on the relationship between the major shareholders' patience and the information influence management (balanced level) and no significant relationship was observed between two other levels. Manuscript profile -
Open Access Article
3 - The Role of Social Interest Rate Risk Management in the Relationship between Sustainability Performance and Investment Efficiency
Hamzeh Asgari Rashtiani Fazel Mohammadi Nodeh Sina Kheradyar Farzin RezaeiSustainability is a wide concept that contains other concepts such as social responsibility and has been investigated with concepts such as competition sustainability, reporting sustainability, and social sustainability. The present study aims to investigate the role of MoreSustainability is a wide concept that contains other concepts such as social responsibility and has been investigated with concepts such as competition sustainability, reporting sustainability, and social sustainability. The present study aims to investigate the role of social interest rate risk management (SIRRM) in the relationship between sustainability performance and investment efficiency. In terms of purpose, this study is an applied one, and form the methodological point of view is a descriptive correlational study. Accordingly, the required data has been collected from 79 listed firms on Tehran Stock Exchange during 2013-2017. In this research, social risk management includes SIRRM, and sustainability performance includes sustainability of reporting, competition, and ownership. The results indicate that SIRRM reinforces the relationship between competition sustainability, reporting sustainability, and ownership sustainability with investment efficiency. Manuscript profile
List of Articles Farzin Rezaei
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