آزیتا جهانشاد Articles List

List of Articles آزیتا جهانشاد

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1 - Extraction of a Mathematical Capital Asset Pricing Model within the Framework of Mental Accounting
Mohammadreza Ola Hashem Nikoomaram Azita Jahanshad Zahra Pourzamani

Ordinary investors do not look to their portfolio as a whole. These investors consider their portfolio as a set of mental arithmetic. In mental accounting, the conventional issue of maximizing the expected return is faced with the constraint of maximum likelihood to fai More

Ordinary investors do not look to their portfolio as a whole. These investors consider their portfolio as a set of mental arithmetic. In mental accounting, the conventional issue of maximizing the expected return is faced with the constraint of maximum likelihood to fail in achieving the return threshold. The present study extracts the capital asset pricing model from Markowitz Mean-Variance Portfolio Model and risk-free asset entering the limitations of this model. Then, MA-CAPM model is extracted by creating a mathematical equivalence between the components of this model and the limitation of mental accounting. In this model, expected investment return for any purpose presented in the form of mental arithmetic is a function of the return on risk-free asset, beta and risk premium of mental arithmetic where the risk premium of mental arithmetic equals the difference between returns of each account and risk-free return on assets. Expected rate of return on assets in the MA-CAPM will be influenced by return threshold and likelihood to fail in reaching this threshold, i.e. mental arithmetic risk. Manuscript profile
Open Access Article
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2 - Application of DEA in the calculation of consolidated index of stock liquidity (evidence of Tehran Stock Exchange)
Azar Yaghoubi Khankhajeh azita jahanshad

In this paper, the pattern of efficiency calculation with data envelopment analysis (DEA) is used to present a consolidated index for representing different dimensions of stock liquidity. Among DEA models, the range adjusted model (RAM) considers both inputs and outputs More

In this paper, the pattern of efficiency calculation with data envelopment analysis (DEA) is used to present a consolidated index for representing different dimensions of stock liquidity. Among DEA models, the range adjusted model (RAM) considers both inputs and outputs simultaneously; provide measure of efficiency and deals with negative inputs and outputs. Thus in this paper, RAM model is used as a basis for presenting relative consolidated index of liquidity. The next step, units with relative consolidated index equal to one is ranked, based on the full-inefficient frontier ranking method. Results support the effectiveness of data envelopment analysis application for measuring liquidity relative consolidated. Using this method, the stock liquidity consolidated index allocated to each of the companies listed on the, presents different aspects of stock liquidity for stocks in stock exchange, in a way that liquidity of stocks can be compared with each other easily and liquidity of a specific stock can be surveyed during time prides. Manuscript profile

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List of Articles آزیتا جهانشاد