Journal of Investment Knowledge: 1 (45)

Open Access Article

1 - Designing mobile Messenger networks to develop debt markets ( Case study : Ministry of Economic Affairs and Finance )
Ali Akbar Farhangi zeinab asoudeh abdorrahim rahimi AtaOllah abtahi maryam khademi

Objectives : In this research , the decision - making of stakeholders on the Iranian financial system to improve the performance of financial markets and increase investor acceptance and public trust in the Islamic securities of the government by implementing mobile mes More

Objectives : In this research , the decision - making of stakeholders on the Iranian financial system to improve the performance of financial markets and increase investor acceptance and public trust in the Islamic securities of the government by implementing mobile messaging networks to develop debt markets during 1396 to 1398 .Methods : The statistical population of this research consists of companies listed on the Tehran Stock Exchange and Iran Over-The-Counter market (OTC), Debt management and public financial assets center in The Ministry of Economic Affairs and Finance. Research hypotheses have been tested through factor analysis and structural equation modeling using SPSS , MicMac and Smartpls softwares. This research is descriptive - survey and data collection method was questionnaire that was used to confirm suggestions , Delphi method or survey of experts using questionnaires and interviews . Results : effective indicators for debt market development and relationships between effective indicators in debt market development were identified by evaluating the use of mobile messenger networks and tailored to the existing needs of each indicator. Impact on the development of the debt market, which included structural-technical, cultural, legal and investment factors, was presented, which was finally implemented in the form of mobile messenger networks. Using the results of this study, it increased the public confidence of debt market investors in the acceptance of Islamic securities. Manuscript profile

Open Access Article

2 - Designing a Model for Fiscal Discipline of Companies Listed in the Tehran Stock Exchange Using Logistic Regression
Arsalan ChamanGard KhoramAbadi mahmoud hematfar farid sefati

AbstractThis study with aim to designing a model for fiscal discipline of companies listed in the Tehran stock exchange using logistic regression was conducted. In this regard, in this study, 15 independent variables were considered as dependent variables to explain fis More

AbstractThis study with aim to designing a model for fiscal discipline of companies listed in the Tehran stock exchange using logistic regression was conducted. In this regard, in this study, 15 independent variables were considered as dependent variables to explain fiscal discipline. For this purpose we examined of data related on 129 firms that were accepted in Tehran stock exchange during 21/3/2015 to 20/03/2019 and were analyzed using Eviews9 software. The result showed that accordingly with significance level, there is a positive and significant relationship between the previous year's fiscal discipline and audit firm size separately with dependent variable. Also, there is an inverse and significant relationship between exchange rate fluctuations, earnings management, audit firm rotation and credit risk with fiscal discipline. However, for other explanatory variables, no significant relationship was observed with the dependent variable. Manuscript profile

Open Access Article

3 - Social capital and investment efficiency
Esmail Ebrahimi Farzin Rezaei Salahedin Ghaderi

Social capital as a socio-behavioral factor can keep the problem of excessive costs of the company at a desirable level. Therefore, when a company's social capital is at a high level, managers show less opportunistic behaviors and strive for more cooperation and interac More

Social capital as a socio-behavioral factor can keep the problem of excessive costs of the company at a desirable level. Therefore, when a company's social capital is at a high level, managers show less opportunistic behaviors and strive for more cooperation and interaction in the company. Therefore, reducing the opportunistic behaviors of managers through social capital can affect the adhesion of dividends and increase the investment efficiency of the company. Social capital is one of the important aspects of social relations and the basis for social cooperation and participation among members of society. Managers of companies with a high level of social capital try to maintain investments with a positive net present value in order to maintain the value of the company. Therefore, based on this argument, the present study investigates the relationship between social capital and investment efficiency. For this purpose, Levy and Lee (2015) questionnaire was used to measure social capital. The hypotheses were tested using the structural equation modeling method based on the information of 83 companies listed on the Tehran Stock Exchange in 2019. The findings of the first hypothesis of the research indicate that social capital increases the investment efficiency of the company. Manuscript profile

Open Access Article

4 - Factors affecting liquidity management in pharmaceutical companies: Bayesian averaging approach
ghodratolah talebnia Ramin Pourabdolahian tehrani Hamidreza Vakilifard Jahanbakhsh asadnia

AbstractOne of the powerful tools in examining the financial performance of companies is the liquidity of that company and is one of the decision-making indicators of investors. Examining the financial statements of companies is the most important step in investing and More

AbstractOne of the powerful tools in examining the financial performance of companies is the liquidity of that company and is one of the decision-making indicators of investors. Examining the financial statements of companies is the most important step in investing and in this study, 50 effective variables of financial statements on liquidity management are included in the model. Using Bayesian averaging model approach, 12 non-fragile variables affecting the liquidity management of pharmaceutical companies, which include current liabilities, accumulated profit and loss, P / S, operating profit (loss), gross EPS, net cash inflow (outflow), Total Net Return on Investments, Total Net Flow of Investment Activities, Receiving Financial Facilities, Total Net Flow of Financing Activities, Cash Balance at the Beginning of the Year and Cash Balance at the End of the Year were identified. According to the results of liquidity management of pharmaceutical companies is a multidimensional process; Because the variables related to financial statements, balance sheet and profit and loss and cash flow affect this index. The multidimensionality of the factors influencing this process will require coordination among policy makers active in the industry so that the time inconsistencies created in the decision-making process do not make the situation of companies worse. Manuscript profile

Open Access Article

5 - Study and Resolution of Legal Obstacles for Foreign Investment in Iran’s Real Estate
Ahmad Shams jamshid nourshargh Alireza Mosadegh

Economic globalization has resulted in an increased competition between the countries to improve their economic indexes. Analyses performed by prominent economists indicated that foreign investment is one of the most sustainable and reliable resources for the economic i More

Economic globalization has resulted in an increased competition between the countries to improve their economic indexes. Analyses performed by prominent economists indicated that foreign investment is one of the most sustainable and reliable resources for the economic infrastructure development and production potential enhancement, which can alleviate the economic problems caused by shortcoming of domestic investment resources. The significant role of Iran’s real estate market in investment stability and preservation of property value that emerged from the socio - economic and legal texture of the country, as well as the considerable population growth that resulted in a profitable real estate investment, have drawn the attention of the foreign investors to Iran’s real estate market. Recent manuscripts have investigated the legal obstacles for foreign investment by individuals and legal entities in Iran’s real estate based upon Islamic Jurisprudence, national security, and legal references, subsequently, verified practical and realistic solutions to the aforementioned predicament. Research Approach:This manuscript is compiled using library and electronic resources, scientific and research manuscripts, and technical papers; the research approach is analytical-descriptive. Manuscript profile

Open Access Article

6 - Factors Influencing the Performance of Acquisition Companies
Mohammad Reza Eghbal Seyed Ali Nabavi Chashmi Naser Yadollahzadeh Tabari

Moving toward globalization is one of the most contemplative and challenging issues of today. One of the best strategies for the growth and development of companies that operate in a changing environment and always be ready to respond is acquisition. The purpose of this More

Moving toward globalization is one of the most contemplative and challenging issues of today. One of the best strategies for the growth and development of companies that operate in a changing environment and always be ready to respond is acquisition. The purpose of this study is to investigate the factors affecting the performance of the acquirer companies. The study population is all companies listed in the Tehran Stock Exchange that were in the acquisition process from 2013 to 2016, and 48 of them were identified as acquisition companies and the statistical sample of the present study. The results indicated that the acquisition variable, intangible assets, and size of companies were positively correlated with ROA. In addition, the acquisition and size variables have a positive relationship with corporate performance with respect to ROE. Manuscript profile

Open Access Article

7 - Optimal short-term prediction of initial supply yields using bat and random forest algorithms
hosein rostamkhani behroz khodarahmi Azita Jahanshad

The purpose of this study is to predict short-term stock returns in initial public offerings using random bat and forest algorithms. In this study, companies that were listed on the OTC market of Iran for the first time during the period 1394 to 1399 were selected as a More

The purpose of this study is to predict short-term stock returns in initial public offerings using random bat and forest algorithms. In this study, companies that were listed on the OTC market of Iran for the first time during the period 1394 to 1399 were selected as a statistical sample. MATLAB software was used to analyze the data. Two scenarios were proposed to test the hypotheses. The first scenario was considered as annual and the second scenario as 6 years. Financial data with 11 factors: short-term market return, short-term return on new stock, market trends, company age, company size, annual sales, return on assets, return on equity, initial public offering price, operating profit, Cash flow from operations as influential factors and excess return of the offered share relative to the influential operating market entered the algorithms as input assumptions to predict the optimal amount. The results obtained from the bat algorithm indicate that the bat algorithm was able to provide better performance in predicting short-term stock returns in initial public offering in both scenarios and is not much different. While the results of accuracy in predicting the random forest algorithm in the second scenario compared to the first scenario has increased by about 12%. It can be concluded that the use of emerging bat and jungle algorithms in predicting short-term returns can help investors in predicting maximum returns and selecting the best stocks based on a precise and accurate pattern. Manuscript profile

Open Access Article

8 - The contagiousness of the risk of financial distress in Iranian banks with a dynamic conditional turbulence approach
Behrouz Barzegar mir feiz Fallah Shams maryam khalili araghi hashem nikoomaram

In the present study, the effect of the spread of financial distress in Iranian banks with a dynamic conditional turbulence approach for the use of economic decision makers and financial managers has been investigated.The statistical population of the study includes Mel More

In the present study, the effect of the spread of financial distress in Iranian banks with a dynamic conditional turbulence approach for the use of economic decision makers and financial managers has been investigated.The statistical population of the study includes Mellat, Tejarat, Saderat and Parsian banks, which have been analyzed in the period of 2016-2016. The present study, using the KMV method and the concept of distance to default, and using the VAR model and the DCC-GARCH method, has investigated the possibility of spreading financial distress to other banks.The results show that there is a significant relationship between the risk of financial helplessness of banks with each other; Bank Mellat has the highest risk of transmission of helplessness and Parsian Bank shows the least effectiveness. According to the results of the model, increasing the operational risks of banks, including credit risk and market risk, has a significant effect on increasing the risk of financial distress and this risk can spread to other banks in the banks' communication network and then the entire economy. Manuscript profile

Open Access Article

9 - Analyzing the relationship between performance metrics and investment cash flow with emphasis on the role of corporate political communication
ebrahim mansouri roya darabi Zohreh Hajiha

For-profit units invest in non-cash resources that, in addition to earning extra cash, also seek return on investment. In today's competitive markets, there are successful firms that have a plan for their future. Financial planning is one of the most important planning More

For-profit units invest in non-cash resources that, in addition to earning extra cash, also seek return on investment. In today's competitive markets, there are successful firms that have a plan for their future. Financial planning is one of the most important planning approaches that is very important. The purpose of this study is to analyze the relationship between performance criteria and investment cash flow with emphasis on the role of political communication of companies listed on the Tehran Stock Exchange. For this purpose, the variables of return on assets and return on equity as performance criteria and the criterion of cash flow ratio of investment activity as a dependent variable were used. The results of this study, which was obtained from the financial data of 166 companies during the years 1390 to 1397 and multivariate regression method showed that although the performance profitability criteria have no significant relationship with cash flow from investment activity, but the company's political relationship causes change Investments in liquidity policies are made by the company. Manuscript profile

Open Access Article

10 - Behavioral biases and decisions of real and legal investors under conditions of uncertainty in Tehran Stock Exchange
mohammad zeynivand mohammad hasan janani mahmod hematfar mohammad reza setayesh

In this study, the behavioral biases and decisions of real and legal investors under conditions of uncertainty in the Tehran Stock Exchange were investigated. For this purpose, two market conditions including uncertainty due to uptrend without resistance and uncertainty More

In this study, the behavioral biases and decisions of real and legal investors under conditions of uncertainty in the Tehran Stock Exchange were investigated. For this purpose, two market conditions including uncertainty due to uptrend without resistance and uncertainty due to downtrend without support are studied as conditions of uncertainty in investment decisions and the effect of 15 behavioral biases of investors in two groups of investors. Real and legal were tested on financial decisions based on buying, selling or not taking action for the transaction. The statistical population of the study included real and legal investors in the Tehran Stock Exchange, of which 385 real investors and 100 legal investors were selected by available sampling method and research questionnaires were provided to them. In order to analyze the data obtained from the distribution of the questionnaire, the fitting of polynomial logistic regression models was used and the results showed that the behavioral biases of real and legal investors had different effects on their investment decisions and also the type of influence of each. Behavioral biases on a variety of investment decisions have varied due to market uncertainty. Finally, models were proposed to predict the investment decisions of both groups of real and legal investors using their behavioral biases. Manuscript profile

Open Access Article

11 - Spreading Commercial Rumors in Cyberspace: Evidence From the Tehran Stock Exchange (Phenomenological Method)
javid hatam maryam Bokharaeian Khorasani Arash naderian Jamadori Gorganli Doji

In this study, employing a qualitative approach and phenomenography method and using in-depth interviews, the way of perception of the stock exchange activists in dealing with trade rumors was investigated. In this regard, 20 experts in the field were interviewed under More

In this study, employing a qualitative approach and phenomenography method and using in-depth interviews, the way of perception of the stock exchange activists in dealing with trade rumors was investigated. In this regard, 20 experts in the field were interviewed under the positions, including managers of regional stock exchanges, executives, analysts, experts, and consultants of the stock brokerage firms using the maximum variation sampling method. The content of interviews, roundtables, notes, and comments published in newspapers and online magazines on the stock market in recent years was used, which were generally similar to the interviewees' views on the subject matter of the research. Data analysis was performed based on Diekelmann method and 8 themes and 22 main themes were extracted. Based on the research findings, it can be concluded that the role of the government in the stock market and the emotional and mass-like behavior of the investors have exacerbated the trade rumors. Furthermore, some interviewees believe that cyberspace, especially telegram, have had recently a major impact on spreading the rumors. On the other hand, although Stock Exchange activists considered the Comprehensive Database of All Listed Companies (CODAL) network information as the most real and authentic information network of the organization because it passes through the audit filter, the recent political events and skepticism about the government have changed their attitude to some extent and made them less trusting to the CODAL network information. Manuscript profile

Open Access Article

12 - Environmental Niche Capacity and Peer Effect in Funding Liquidity Risk of Banks
Tayebe Bakhtiarian Gholamhossein Asadi Hossein Abdo Tabrizi Teymor Mohammadi

Peer effects is a pervasive phenomenon in a business world and several theories have been proposed to explain that. Since this phenomenon can have different positive or negative consequences in different domains, therefore, in this paper using information and competitio More

Peer effects is a pervasive phenomenon in a business world and several theories have been proposed to explain that. Since this phenomenon can have different positive or negative consequences in different domains, therefore, in this paper using information and competition based theories and Organizational ecology theory and By defining an index called environmental niche capacity, the relationship between the index and peer influence has been investigated in banking industry of Iran in order to help to form macro prudential policy to control peer effects as a systemic risk factor in that industry. The research sample includes all active banks of Iran from 2002 to 2016 and the models used are linear regression model based on Manski's approach with unbalanced micro-panel data and two stage least squares method to estimate peer effects coefficient and linear regression model with time series data to evaluate relation between peer effects and environmental niche capacity index and also concentration and uncertainty index. The evidences shows that the correlation of niche index is significant both during boom and bust, but during recession the coefficient is increased by approximately 2/1 times, indicating the importance of liquidity management by central bank to control peer effects systemic factor and crisis formation in the banking system. Manuscript profile

Open Access Article

13 - comparative study of dynamic performance of investment according to method (garch)and kalman filter
Javad Yousefi Brahman JAVAD ramezani Mehdi Khalilpour

The importance of investing for economic growth and development is enough to make it a strong incentive to reach development; one that investors care about is the information that comes from the coming part of the company.In spite of an efficient construction of the mar More

The importance of investing for economic growth and development is enough to make it a strong incentive to reach development; one that investors care about is the information that comes from the coming part of the company.In spite of an efficient construction of the market, it is possible to identify companies and projects. one of the main parts of the capital market is the stock exchange. and efficiency is the main and most important feature of the stock exchange. according to the significant effect of efficiency on the trade and investment level, the main purpose of this study is to compare the dynamic performance of investment according to the garch and kalman filter method.in this research , by using kalman filter , the beta - kalman filter is applied to the firms listed in tehran stock exchange ( tse ) . then beta values for these shares are estimated using garch method and the efficiency of these two methods is compared .tthe results are obtained and based on the mean square error of each method , it can be stated that kalman filter method outperforms the garch method and therefore outperforms the garch model . Manuscript profile

Open Access Article

14 - Explain the lived experience of investors from the effects of oil, dollar and gold prices on the capital market and their behavioral biases
mahmoud goudarzi amir mohammadzadeh seighali seighali

Purpose: The goal of this research is to identify the effects of oil, dollar and gold prices on the capital market; and meanwhile the investors’ Behavioral Biases. Method: The same research is a qualitative study of phenomenological type. Field data were collected More

Purpose: The goal of this research is to identify the effects of oil, dollar and gold prices on the capital market; and meanwhile the investors’ Behavioral Biases. Method: The same research is a qualitative study of phenomenological type. Field data were collected using in-depth interviewing techniques and theoretical saturation criteria among 10 active participants of Tehran Stock Exchange who have at least three years of experience in investing in financial markets. After the implementation of the analysis phase using the Colaizzi method and MAXQDA10 software, the recorded interviews have been conducted. Findings: Based on data analysis, seven main themes including external factors, parallel markets, cognitive biases, emotional biases, abnormal phenomena (in behavioral economics) as well as cultural and personal factors were extracted from the interviews. The results emphasize on the need for taking measures to predict exchange rates and avoid government-mandated pricing.Key words: Currency, Gold, Oil, Behavioral Biases, Capital Market Manuscript profile

Open Access Article

15 - A model for continuing the activity and diagnosing the health of manufacturing companies in Iran
mostafa rezaee masoud Taherinia Majid zanjirdar

Health means the ability to profitability and continuity of economic activity. This research is based on the needs of the day around manufacturing companies that lead to the creation of goods and products and have an effective role in the index of productivity and GDP o More

Health means the ability to profitability and continuity of economic activity. This research is based on the needs of the day around manufacturing companies that lead to the creation of goods and products and have an effective role in the index of productivity and GDP of the country. This research is of experimental type and the methods of data foundation theory (grand theory-emerging and estimative and degree paradigm) have been used. The statistical sample of the present study was selected using the snowball method (selective) and based on five specialized groups in the accounting and judicial profession and the necessary information was collected through interviews and findings including six selected codes] Basic financial reports and auditor transparency - Bankruptcy Diagnosis Laboratory - Criteria for evaluating financial ratios - The most practical financial ratios Special conditions and aggregation of ratios - Specific coefficient of each financial ratio group [and including three stages of theoretical codes] The best and worst manufacturing companies - Classification of triple financial ratios (balance sheet - profit and loss - consolidated) - Emergence of mathematical model (layout The present model has the necessary efficiency for internal and external stakeholders such as banks, creditors, independent auditors, courts, etc., And is a suitable tool for determining the continuity of activities and stations for research. Provides health diagnosis for manufacturing companies. Manuscript profile

Open Access Article

16 - Pathology of the Automobile Industry of the Country Using the Grounded Theory Strategy and provide solutions to get it out of the current situation
Mohammad Hassan Maadi Roudsari Seyed Habibollah Tabatabaeian Reza Radfar

The purpose of this study is to investigate the pathology of the automobile industry in the country and provide some solutions to overcome it. The most commonly used method of research is fundamental data theory. Data gathering in this study was done through two semi-st More

The purpose of this study is to investigate the pathology of the automobile industry in the country and provide some solutions to overcome it. The most commonly used method of research is fundamental data theory. Data gathering in this study was done through two semi-structured interviews and collecting comments from interviewees considering the necessity of participants' experiences and their view of the state of the automobile industry and its influencing factors and current situation. Used by automotive experts and experts, the work continued until the data needed for the research was saturated with diversity.Data analysis was performed using Strauss and Carbin's data base strategy and systematic approach strategy with three steps of open coding, axial coding and selective coding and presented automotive industry development strategies and implementation requirements. Industry Ownership and Privatization Task Strategies, Facilitating the Access to the Financing of the Automotive Industry and the Segmentation Industry, Revising the Strategic Plan for the Industry Based on the Conditions and Requirements of the Industry, Facilitating the Process of Attraction and Foreign Investment, Considering Scale Savings And integrating industry, amending and revising the laws adopted for the automotive industry with the aim of targeting support and enhancing law enforcement, using a network-based development model by building a network of internal and external consulting engineers, and supporting investment in new technology vehicles, including automobiles. Electricity A hybrid was proposed to exit the country's car industry from the current situation. Manuscript profile

Open Access Article

17 - Glibalization and its impact on foreign direct investment in developing and develoed countries
Kourosh Shams Fraydoon Rahnamay Roodposhti Hashem Nikoomaram Zahra Pourzamani

The present study aims to study the effect of globalization on foreign direct investment. To do this, the data of 2001-2011 of twenty countries (Ten developing countries and ten developed countries), multi-variate regression and pooled data model are used. The results o More

The present study aims to study the effect of globalization on foreign direct investment. To do this, the data of 2001-2011 of twenty countries (Ten developing countries and ten developed countries), multi-variate regression and pooled data model are used. The results of study at developed countries showed that improvement of globalization index led into the increase of foreign direct investment in Iran and this increases the increase of growth capacity and development of country. Also, it improves capital market index and increases foreign direct investment in the country and also it collects capital in the country. On the other hand, the results of study in developing countries showed that improvement of capital market index led into the increase of foreign direct investment in the country and this collected capital in the country and improved good governance index and increased foreign direct investment. This also improves the wage of citizens and increases governance accountability. The growth of urban population leads to the reduction of foreign direct investment in the country and development conditions are not improved with the improvement of human resources. Also, improvement of GDP leads to the reduction of foreign direct investment in the country and this doesn’t increase growth and development. Manuscript profile

Open Access Article

18 - Providing a model of value creation with customers in the banking industry from a phenomenological perspective
Amirali koushki Fataneh ALIZADEHMESHGANI Nasser Fegh-hi Farahmand

Creating value with customers is the current and future model of the banking industry that combines environmental, social and governance factors in the public interest. It seems that in the context of the country's banking industry, achieving value creation with custome More

Creating value with customers is the current and future model of the banking industry that combines environmental, social and governance factors in the public interest. It seems that in the context of the country's banking industry, achieving value creation with customers is achievable. The present study aimed to provide a model of value creation with customers in the banking industry (Case study: Bank Mellat). This research is an exploratory research from the perspective of the purpose, which has been mixed with research method and based on deductive-inductive reasoning. The statistical population of this study includes theoretical experts (marketing professors) and experimental experts (banking industry managers). Sampling was done in a non-probabilistic and purposeful manner. Data collection tools are semi-structured interviews and questionnaires. Qualitative phenomenological analysis has been used to analyze specialized interviews. Also, the identified indicators have been validated by fuzzy Delphi method. Finally, the final research model is presented by fuzzy dimtel method. Research data analysis was performed in the qualitative phase with MaxQDA software and in the quantitative phase with Matlab software. Based on the results of this study, based on the designed initial model, it was found that value creation strategy has an effect on organizational knowledge management and human resource management. Manuscript profile

Open Access Article

19 - The Impact of Perceived Portfolio Returns on Investor Decisions - The underlying psychological mechanism
Mohammadreza zolghadrnasab sina kherdyar Fazel Mohammadi Noodeh aiyuob ahmadi

The purpose of this study is to test psychological mechanisms on how perceived portfolio returns affect investors and risk-taking, and whether these psychological mechanisms play a moderating role. Past portfolio behavior is important for investors in investment decisio More

The purpose of this study is to test psychological mechanisms on how perceived portfolio returns affect investors and risk-taking, and whether these psychological mechanisms play a moderating role. Past portfolio behavior is important for investors in investment decisions. The statistical population of this research is active investors in Tehran Stock Exchange, the sample was selected by available sampling method. Using a closed questionnaire, collected information to analysis the research hypotheses using structural equations and path analysis with Phoenix software. The results show that expected returns of a portfolio formed in the past make investors more risk-averse and thus show a higher attitude towards risk. From the other side the interaction of psychological characteristics (overconfidence, optimism and willingness of risk taking) has a moderating effect on the relationship between the expected return of the past portfolio and the portfolio turnover, portfolio trading volume and portfolio risk sharing of investors. The results lead to the conclusion that the presence of underlying biases deteriorates financial behaviors. Manuscript profile

Open Access Article

20 - Investigating the role of principles of ethics and auditing professional behavior in applying creative accounting to investors
روح اله جمشیدپور مهرداد .. بابک .. سیدرضا هاشمی

The main purpose of this study is to investigate the role of the principles of professional ethics of auditing in the use of creative accounting in Iran. In order to achieve the research goal, among 271 trusted auditors of Iran Stock Exchange Group A in the last four mo More

The main purpose of this study is to investigate the role of the principles of professional ethics of auditing in the use of creative accounting in Iran. In order to achieve the research goal, among 271 trusted auditors of Iran Stock Exchange Group A in the last four months of 1996 and the first two months of 1997, 160 people were randomly selected to answer the questionnaire. Data from the distribution of the questionnaire were analyzed to prove or disprove the research hypotheses using the T-test. The findings show that the auditor's competence, honesty, objectivity and independence have a significant negative impact on creative accounting. While the results show the positive effect of conditional fees, advertising fees and commission fees on creative accounting. Experimental evidence suggests that the name of the auditing firm does not have a significant effect on creative accounting. Do not report. Manuscript profile

Open Access Article

21 - Designing a quality model of integrated marketing communications for specialized banks in Iran
Hadi Kamarei vahidreza mirabi Esmaeil Hasanpour Ghoroghchi Farhad Hanifi

The present study intends to investigate the role of the component of integrated marketing communications in the banking industry. In other words, the aim of the present study is to identify the critical variables affecting integrated marketing communications in the ban More

The present study intends to investigate the role of the component of integrated marketing communications in the banking industry. In other words, the aim of the present study is to identify the critical variables affecting integrated marketing communications in the banking industry.The present research has been done by qualitative method and qualitative content analysis method. As with any other research, the literature review is related to the library, and also the approach of integrated marketing communications in the banking industry has been done in order to classify and present the structure based on previous research. To review and answer the research question, an interview with a group of marketing communication experts in the banking industry is conducted. They will be selected based on judgmental and snowball sampling methods. The adequacy index of the number of interviews is the theoretical saturation based on which the researcher concludes that more interviews will not add more information to the current reserves of the interviews, and finally the final qualitative model was extracted. Manuscript profile

Open Access Article

22 - Designing target leverage model over the life cycle of the company
ha,ed salehi yadolah tariverdi afsaneh tavangar amir reza kayghobadi

10.30495/jik.2023.55069.3137

In this paper, the difference in the target leverage during the life cycle of companies listed on the Tehran Stock Exchange is examined. Leverage is the ratio of the proportion of debt a company tends to achieve, and the leverage ratio is defined as the distance between More

In this paper, the difference in the target leverage during the life cycle of companies listed on the Tehran Stock Exchange is examined. Leverage is the ratio of the proportion of debt a company tends to achieve, and the leverage ratio is defined as the distance between operating cash flow and the time required to invest, and is structured based on trade-off theory (TOT) and pecking order theory (POT) the optimal investment is determined. For this purpose, using GMM method, 153 companies listed on the Tehran Stock Exchange in the period of fiscal year 2011 to 2018 were selected and data analysis was performed using stata and eviews software. In examining the factors affecting the difference in leverage, growth and profitability opportunities were more stable than the size and tangible fixed assets. The findings of this study are important for researchers because the results show that the classification ratio of companies at different stages of the life cycle, the interpretation of the results by considering the factors affecting the structure of the target capital. Therefore, researchers espacialy financial managers could check the assignment of their firms intothe life stage by this model in order to compare their firms’capital structure in the same stage because their behavior change iver the life cycle. Manuscript profile

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