تقی ترابی Articles List

Open Access Article

1 - Modeling the estimation of the price bubble probability in the capital market :Evidence from Tehran Stock Exchange
sara Dastani Heris taghi torabi Ali Asghar Anvari Rostami

AbstractThe Tehran Stock Exchange has always seen a lot of fluctuations. Price volatility is a part of the market's nature, and one of the main issues in the capital market is to explain these fluctuations using fundamental patterns. However, sometimes these fluctuation More

AbstractThe Tehran Stock Exchange has always seen a lot of fluctuations. Price volatility is a part of the market's nature, and one of the main issues in the capital market is to explain these fluctuations using fundamental patterns. However, sometimes these fluctuations go out of their normal form and place themselves in bumpy bumps and sudden crash (crisis) and bring irreparable blows to the stock market. Therefore, in view of the importance of price bubbles, this study presents a model for estimating the likelihood of price bubble formation in the capital market and the main objective of the Tehran Stock Exchange. The statistical sample of this study is the 166 companies listed in the Tehran Stock Exchange between 2007 and 2017. In this study, using spss software and runs test, Skewness and Kurtosis test. we investigated the probability of price bubbles, and then, in order to provide a model for price bubble, the factors influencing price bubbles based on the proposed model have been investigated. The results indicate the probability of bubble occurrence in companies admitted to the Tehran Stock Exchange. Also, results shows that shareholders, P / E ratio and liquidity rate have a significant effect on price bubbles. However the size and transparency of the information did not show a significant effect on the price bubble. Manuscript profile

Open Access Article

2 - Design the model for Glomar Stock Selection in the Tehran Securities Exchange
farzaneh hashemloo hashem nikoumaram taghi torabi

The main purpose of this research is to use the Factor Analysis-Taxonomy method to select the best stock from listed companies in Tehran Stock Exchange. Portfolio Selection is one of the most important issues in the field of finance and there are some models for optimal More

The main purpose of this research is to use the Factor Analysis-Taxonomy method to select the best stock from listed companies in Tehran Stock Exchange. Portfolio Selection is one of the most important issues in the field of finance and there are some models for optimal selection. One of the problems of the presented models is to ignore the multiple indexes and dimensions, and to not identify the reasons for the rejection or acceptance of a company in the selection of stocks.In this research, to solve these shortcomings, a taxonomy method, which is a multi-criteria decision-making method, is used. The results showed that 6% of the selected companies, the first priority shares, 68% of the shares with the second priority and 16% of the shares with the third priority and ultimately 10% of the shares with the fourth priority are considered. Finally, the analysis of the findings showed that the stocks with the higher priorities presented by the model only in some years had better performance. Manuscript profile

Open Access Article

3 - Effect of asset-liability management on credit risk
hadi farnian Fraydoon Rahnamay Roodposhti taghi torabi

Banks as the biggest and most important active institutions in money market as well as having financial intermediary role including resource saving and financing play a significant role in the economy. Banks face with different challenges to play their role in the socie More

Banks as the biggest and most important active institutions in money market as well as having financial intermediary role including resource saving and financing play a significant role in the economy. Banks face with different challenges to play their role in the society. One of these challenges is the optimal asset-liability management along with evaluating the related risks including credit risk which derives from lending facilities. The present study aimed to implement asset-liability management model for managing the credit risk of the banks. The ratio of lending facilities to asset and the ratio of delayed debts to facilities and capital adequacy were the variables of the study to assess the credit risk. In addition, the value at risk was calculated. In this study, data were collected from all 14 banks listed on the Tehran Stock Exchange from 2009 to 2016. The results indicated that it is essential to implement asset-liability management model for effective management and reducing the credit risk for the banks. Manuscript profile

Open Access Article

4 - Designing Sustained Systemic Pattern of Entrepreneurship Based on Value-Creation; Investment Approach
Mohsen Amini Fatemeh Hamidifar taghi torabi Masoud Ghodsi

Sustainable entrepreneurship based on value creation in the context of investment is one of the most important issues for today's competitive businesses. Therefore, while paying attention to investing in this field, the concepts of value creation should be considered as More

Sustainable entrepreneurship based on value creation in the context of investment is one of the most important issues for today's competitive businesses. Therefore, while paying attention to investing in this field, the concepts of value creation should be considered as very influential characteristics on it as well as the consequence of investing. To conduct this research, first, a comprehensive review of sustainable entrepreneurship management models was conducted. After the interviews, the interviews were coded; challenges, gaps and ideas for resolving them were presented. Using a systematic approach and distributing a questionnaire, the opinions of experts on the importance of sustainable entrepreneurship indicators were examined. Finally, according to Pareto's optimal law, the factors with the highest score (20% higher) were identified as influential factors. Findings indicate that individual input variables are factors of control centre, creativity, individual independence and the need for success and risk, respectively. Environmental input variables are the most important effective factors, respectively, market situation, social corruption and unemployment rate, entrepreneurship education and culture, government support and creating a legal basis. Also, the most important factors related to system outputs are the creation of industries and businesses, economic growth and sustainable development, unemployment rates and social corruption, respectively. Finally, practical suggestions were expressed for activists and researchers in the field of entrepreneurship.   Manuscript profile

Open Access Article

5 - Comparing the superiority of Glomar stock using multi-criteria decision-making models, Taxonomy and PROMETHEE
farzaneh hashemloo hashem nikoumaram taghi torabi

The distribution of capital market resources depends on the presence of market participants, and the main issue we are facing is the decision to allocate resources, the selection of suitable securities for investment, and the formation of optimal stock portfolios. The d More

The distribution of capital market resources depends on the presence of market participants, and the main issue we are facing is the decision to allocate resources, the selection of suitable securities for investment, and the formation of optimal stock portfolios. The development of new techniques in operational research and financial science, along with advances in computer science and technology, has led to the emergence of models, including multi-criteria decision-making models for selecting stock portfolios.Based on the fundamental analysis of stock valuation, 18 financial ratios in 6 groups of profitability, liquidity, activity, leverage, market value, and ownership were used to evaluate 30 companies during 2011-2017. Two methods, Taxonomy and PROMETHEE, is done to rank the sample shares and compare the result. The results showed that the ranking of the Shannon- PROMETHEE entropy model in comparison with the taxonomic-factor analysis models has a better prediction of stock returns. Manuscript profile

Open Access Article

6 - The Effect of Uncertainty of Macroeconomic Indices on Tehran Stock Exchange Returns with the Approach of Randomized Fluctuations Models with Time Variations
Samaneh Tarighi Taghi Torabi Farhad Ghaffari Abbas Memarnezhad

One of the most important tasks of the financial economy is modeling and forecasting of the price volatility of risky assets. For analysts and policymakers, price volatility is a key variable that helps to understand market fluctuations. Therefore, the analysts need to More

One of the most important tasks of the financial economy is modeling and forecasting of the price volatility of risky assets. For analysts and policymakers, price volatility is a key variable that helps to understand market fluctuations. Therefore, the analysts need to be able to predict the correctness of price volatility as an essential input for tasks such as risk management, portfolio assignment, value at risk and transaction option pricing and future contracts. Accordingly, in the present research, return on stocks of Tehran Stock Exchange has been dealt with using PLS and TVP-SV models and its comparison with OLS method in MATLAB and XLSTAT software from March 2003 till August 2013 (monthly) using true variables (industrial output, real estate investment in housing, economic growth, government spending share in GDP and Non-oil exports growth rate) and monetary variables (inflation, money supply, exchange rate, oil price and domestic price of gold). Based on PLS model, the result was that the variables of economic growth and oil price have more influence of return of Tehran Stock Exchange in comparison with other variables. Then, we entered the variables of economic growth and oil price in TVP-SV model. Based on the results, TVP-SV model has more efficiency in comparison with OLS model. Based on the results of TVP-SV model after the first interruption of stock returns, the economic growth has the highest effect on stock returns. Manuscript profile

Open Access Article

7 - Behavioral Decision Making Pattern for Individual Investors In Tehran Stock Exchange
M. Hossein Abdorrahimian Taqi Torabi S. Jalal Sadeghisharif Roya Darabi

In accordance with the objectives, qualitative and quantitative composition was operated. The strategy also phenomenography in qualitative section, in-depth semi-structured interviews conducted with experts capital market and analyzed using content analysis methods that More

In accordance with the objectives, qualitative and quantitative composition was operated. The strategy also phenomenography in qualitative section, in-depth semi-structured interviews conducted with experts capital market and analyzed using content analysis methods that eighteen components were identified. Whit this components the questionnaire of quantitative sectin was designed. A total of 400 questionnaires were distributed into available non random sampling and 275 completed questionnaires were collected. Data from the questionnaire using factor analysis to investigate and research the major issues such as cultural factors, cognitive, emotional, and personality were identified. Moreover, data through software SPSS and Amos Graphic using path analysis were analyzed. The results indicate that the most fundamental factor for the behavior of investors is culture. Cognitive bias etc. are precedence over emotional bias etc. (schema theory) alongside influence of personality, cause herding behaviors in the decision making private investors.   Manuscript profile

Open Access Article

8 - New methods of financing football clubs in developed countries and the developing countries have a comparative study
Taghi Torabi Mahsa Ghorbani Meysam Bagheri Samaneh Tarighi

The main objective of this comparative study is to see how professional football clubs in Iran and England’s premier league are financed. This applied research has been conducted in a descriptive and analytical way. The results of the study showed that there is a More

The main objective of this comparative study is to see how professional football clubs in Iran and England’s premier league are financed. This applied research has been conducted in a descriptive and analytical way. The results of the study showed that there is a significant difference between the ways through which English and Iranian professional football league clubs are financed. Most Iranian clubs are funded by government and industry-based sources (65%) while most English clubs are private and are funded by television broadcasting rights (31%), match-day income and cash flow from business (22%). Some major barriers to financing Iranian professional football league clubs are as follows; the state-run clubs, lack of financial transparency , the fact that IRIB refuses to pay the media broadcasting right to the clubs, failure in complying with copyright law in Iran , inappropriate competition schedules, unsuccessful club marketing management, club managers lack of awareness about new methods of financing , limited use of creative sport directors with financial and business expertise at different levels of football industry Manuscript profile

Open Access Article

9 - Using data mining techniques to measure tax risk of value added taxes
Mohammad Masihi Ahmad Yaghoobnejad Amirreza Keyghobadi Taghi Torabi

In this paper using data mining to studied taxpayers risk value added taxes. the importance of assessing the taxpayers risk of value added taxes in order to formulate an effective plan for choosing taxpayers for tax audit with the goal of increasing efficiency and effec More

In this paper using data mining to studied taxpayers risk value added taxes. the importance of assessing the taxpayers risk of value added taxes in order to formulate an effective plan for choosing taxpayers for tax audit with the goal of increasing efficiency and effectiveness, in the country's value added taxes system. In this research taxpayers are catogorized into three, risk_free , low_ risk and risk _averse groups. To assess tax risk two techniques, data mining machin backup vector and logistic regression have been used. The research community consist of large legal entities in Tehran.that wich have been subject to tax audit in value added taxes system in 2012 to 2015. In this research, variables are include corporate governance mechanisms, special corporate features, the nature of the activity of the pioneers of the control system and tax ratios wich are used to train and use the model. The research's results show two techniques LSVM ,Logistic, have a reliability of 70percent and a kind of integration into the results of these two techniques has been achieved nearly 83 percent of reliability has a higher potential. Manuscript profile

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