Financial Performance

Open Access Article

1 - Examining the effect of internal marketing on financial performance
behnoosh ahmadi shooli omid rasekh

The purpose of this research is to investigate the effect of internal marketing on improving financial performance. The research method is descriptive-correlation and the statistical population of this research includes 60 employees of Shiraz Chemical Industry Company, More

The purpose of this research is to investigate the effect of internal marketing on improving financial performance. The research method is descriptive-correlation and the statistical population of this research includes 60 employees of Shiraz Chemical Industry Company, which is considered as a sample due to the smallness of the statistical population of this entire population and through non-random sampling method in available, were selected to respond to the research tools. The measurement tools in this research were standard questionnaires of financial performance (Shabankar, 1400) and internal marketing (Momeni and Forman, 2015). The validity of the questionnaires has been confirmed through its content and reliability using Cronbach's alpha. Data analysis was done using Lisrel software and calculation of Pearson's correlation coefficient, variance analysis test, and research hypotheses were tested using regression. The research results showed that there is a significant effect between internal marketing and improving financial performance. Today, internal marketing is known as a strategy for the implementation of the organization's plans, and all organizations must define a targeted framework based on internal marketing for the organization based on the organization's position and resources, so that finally, with its help, effective steps can be taken to improve financial performance. Manuscript profile

Open Access Article

2 - The impact of SMEs Characteristics on Financial Performance Growth via the Mediating role of Prospective Marketing Intelligence and Strategic Flexibility
Rasoul mehdikhani changiz valmohammadi

Aim: The purpose of this study is to analyze SMEs Characteristics on Financial Performance Growth via the Mediating Effect of Prospective Marketing Intelligence and Strategic Flexibility. Background: SMEs pharmaceutical as the main actors of the supply chain have become More

Aim: The purpose of this study is to analyze SMEs Characteristics on Financial Performance Growth via the Mediating Effect of Prospective Marketing Intelligence and Strategic Flexibility. Background: SMEs pharmaceutical as the main actors of the supply chain have become superior partners for larger companies, adopted with changing business scenario depends on Prospective Marketing Intelligence and Strategic Flexibility. Method: Data implemented with a sample mass of 175 SMEs managements. The research data were collected by questionnaire by email to the managers of SMEs. The validity and reliability of the questionnaire were confirmed before distribution. Data Analysis was conducted by SEM (Smart-PLS). Findings: SMEs characteristics have positive impacts on prospective marketing intelligence, prospective marketing intelligence has a positive impact on strategic flexibility and financial performance growth, and strategic flexibility has a positive impact on financial performance growth. SMEs characteristics don’t have meaningful impacts on performance growth. SMEs characteristics through prospective marketing intelligence have a positive effect on financial performance growth. Prospective marketing intelligence through strategic flexibility has a positive impact on financial performance growth. Conclusion: Managers use training about marketing intelligence to identify and extract strategic information sources and modify business strategies in line with environmental changes. Also, by utilizing marketing intelligence in social networks, they can gather information related to customers, competitors, products and markets faster and cheaper. Manuscript profile

Open Access Article

3 - Investigation of Micro and Macro of Economic Policies Factors Affecting Corporate Financial Performance
Ebrahim Alizadeh HamidReza Vakilifard Mohsen Hamidian

Financial indicators are a good measure for policymakers who want to assess the current state of the economy and predict the future. The purpose of this study was to investigate the micro and macro factors of economic policies affecting the financial performance of comp More

Financial indicators are a good measure for policymakers who want to assess the current state of the economy and predict the future. The purpose of this study was to investigate the micro and macro factors of economic policies affecting the financial performance of companies. Fuzzy Delphi fan research method and in the second stage to prioritize the indicators and determine the internal relationships between the indicators, the fuzzy dimtel method was used to systematically and comprehensively study to identify all the measures that may affect the profitability stability and other basic indicators. Financial performance is effective and a complete database of these metrics is provided. The results showed that the four most effective factors on the performance of companies among micro-financial factors according to experts, respectively, were the value of the company to debt, asset growth, income size and liquidity of assets. Also, the four most effective factors on the performance of companies among microeconomic factors according to experts, respectively, were the total index, price index, cash return index and industry index. And the four most influential factors on the performance of companies among macroeconomic factors have been production growth, investment growth, exchange rate fluctuations and financial instability, respectively. Manuscript profile

Open Access Article

4 - Investigating effect of social responsibility, credit and competitive advantage on financial performance of companies listed on the Tehran Stock Exchange
Seyed fakhreddin Fakhrhosseini

Recognition of the direct relationship between CSR and firm performance has garnered much interest among authors recently. The findings are rather inconclusive and misleading. This is because, while a positive association between CSR and firm performance has been a domi More

Recognition of the direct relationship between CSR and firm performance has garnered much interest among authors recently. The findings are rather inconclusive and misleading. This is because, while a positive association between CSR and firm performance has been a dominant theme in many articles, universally, others suggested a negative or no correlation. Finally, it can be concluded that the relationship between CSR and firm performance is more complicated than the results of many previous studies indicate.The present article aims to determine the relationship between social responsibility, credibility and competitive advantage over business performance. In this study,has been studied a sample of 109 companies from 19 industries . The period studied was 1394 to 1399, which used multiple regression test. The results show that corporate social responsibility and credibility have a negative impact and competitive advantage has a positive impact on equity returns. Competitive advantage has also had a positive effect on return on assets of companies listed on the stock exchange. Manuscript profile

Open Access Article

5 - Investigating the effect of investment in information technology on financial performance and productivity in the supply chain of the construction industry in the recession
amir mohtasham, , taghi torabi , reza radfar mohammadereza motadel, nazanin pilehvari,

The internal changes of construction systems and the evolution of customer-oriented views in recent years and the remarkable progress of information technology in the world have led to the idea of using information and communication technology in improving the quality o More

The internal changes of construction systems and the evolution of customer-oriented views in recent years and the remarkable progress of information technology in the world have led to the idea of using information and communication technology in improving the quality of construction industry services. The research method used in this research is descriptive and based on the purpose of the research, it is of an applied type, and in terms of the method of data collection and analysis, it is a quantitative research type and a survey type. The statistical population of the research includes all managers, specialists and experts active in the construction industry in Tehran. The necessary data for this research was collected using a sample consisting of 403 people and using the available random sampling method. Cronbach's alpha of the questionnaire for all indicators is more than 0.7, which indicates the strong reliability of the research tool. In total, this research investigated seven sub-hypotheses. All of which were confirmed. Therefore, managers working in this industry are suggested to pay more attention to the importance of investing in information technology in the centers under their management in order to improve efficiency. Manuscript profile

Open Access Article

6 - Investigation of Micro and Macro Economic Factors Affecting Corporate Financial Performance: A Fuzzy Dimensional Approach
Ebrahim Alizadeh HamidReza Vakilifard mohsen hamidian

Financial indicators are good benchmarks for policymakers who want to assess the current state of the economy and predict the future, especially for creditors and the central bank, and there are several reasons to justify this. The data on which the financial indices ar More

Financial indicators are good benchmarks for policymakers who want to assess the current state of the economy and predict the future, especially for creditors and the central bank, and there are several reasons to justify this. The data on which the financial indices are calculated is essentially defined by looking at the future and possibly taking into account market expectations of the macro data. Financial indicators may also directly affect the future state of the economy or be influenced by macroeconomic and micro indicators. This study attempts to conduct a systematic and comprehensive study to identify all the measures that may be likely to affect profitability and other key indicators of financial performance and provide a complete database of these measures. For this purpose, a combination of knowledge domain and content analysis methods has been used to select effective metrics. Finally, the most effective factors are determined through interviews with experts and the fuzzy DEMATEL method. Manuscript profile

Open Access Article

7 - A Study of the Correlation between Board of Directors' Human and Social Capital and Corporate Financial Performance
Ali Nazari Abarbekouh Midya Azizi

Purpose: The purpose of the present study is to review the correlation between board of directors' human social capital and corporate financial performance.Method: To conduct this research, 163 corporations accepted in Tehran Stock Exchange during 2016-2021 were chosen. More

Purpose: The purpose of the present study is to review the correlation between board of directors' human social capital and corporate financial performance.Method: To conduct this research, 163 corporations accepted in Tehran Stock Exchange during 2016-2021 were chosen. Human capital is composed of 4 aspects including education, expertise, experience (in industry), and credit of board of directors while social capital consists of two internal and external segments. Financial performance was measured through 2 criterions of return on assets and Tobin's Q ratio and then the hypotheses were tested using multivariate regression and generalized least squares.Findings: There is a significantly positive relation between the number of experts in board of directors and return on assets whereas the number of experts in board of directors, the number of experienced members (in industry), and external/internal social capital have a significantly positive relation with Tobin's Q ratio.Conclusion: Hiring board of directors with higher human and social capital can improve the corporate value that is useful for the maximization of stockholders' wealth.  Manuscript profile

Open Access Article

8 - The Effect of Chief Executive Officer (CEO's) Narcissism and Hubris on the Relationship between Corporate Stability and Financial Performance
parisa yari darmeshkanloo marzieh ebrahimi shaghaghi hossein eslami mofidabadi

10.30486/fbra.2022.1973763.1166

Paying attention to the issue of sustainability in the financial and economic literature has attracted the attention of many researchers, and various aspects of this issue, including environmental, social, managerial and economic, have been examined in various researche More

Paying attention to the issue of sustainability in the financial and economic literature has attracted the attention of many researchers, and various aspects of this issue, including environmental, social, managerial and economic, have been examined in various researches. Knowing the effects that may be effective from the implementation of sustainability policies by companies on their performance, and in this regard, knowing the dimensions of the psychological personalities of managers as those responsible for the implementation of such policies led us to investigate the effect of the CEO's self-infatuation and hubris on the relationship between corporate sustainability and financial performance. The statistical society of this research included the companies accepted in the capital market of Tehran during the financial period of 2010 to 2019, and finally, after the implementation of the sampling method, the number of 1210 companies entered in the final sample. Three hypotheses have been proposed to investigate this research. The regression method used was the multivariate regression method. The results obtained from the regression show that corporate sustainability has a significant and positive effect on the company's financial performance at a significance level of 0.05, and also, the moderating role of CEO narcissism in the relationship between corporate sustainability and financial performance has been confirmed at a significance level of 0.05. The results of the hypotheses, in line with the results of previous researches and consistent with them, confirm the influence of behavioral and personality factors on the relationship between corporate sustainability and financial performance. Manuscript profile

Open Access Article

9 - The effect of the characteristics of the board of directors on the value creation of production companies of the Tehran Stock Exchange
mahsa saremi nia Habibollah Nakhaei drzhajiha@gmail.com hajiha

Abstract The purpose of this study is to investigate the effect of board characteristics with emphasis on criteria based on value creation for investors in companies listed on the Tehran Stock Exchange. In this study, the criteria of board ownership, board independence More

Abstract The purpose of this study is to investigate the effect of board characteristics with emphasis on criteria based on value creation for investors in companies listed on the Tehran Stock Exchange. In this study, the criteria of board ownership, board independence and board size were used to assess the characteristics of the board. In terms of classification, research based on purpose is of applied type and research method is quantitative. In order to test the research hypotheses, the audited financial statements of companies and reporting the changes of 148 companies listed on the Tehran Stock Exchange during the period 2013 to 2020 were used and the required data were extracted and using the analysis method. Multivariate regression and F-Leimer, Hausmann, Bruch-Godfrey and Bruch-Pagen tests were evaluated using R software. The results of testing the hypotheses showed that between the characteristics of the board that were evaluated using the criteria of board ownership, board independence and board size with the financial performance of companies using criteria based on value creation It was found that there is a positive and significant relationship. As a result, due to the significant effect of the characteristics of the board of directors on the performance of companies, the need to pay attention to the characteristics of the board of directors is of great importance. Therefore, according to the research findings, the importance of more effective board supervision over the activities of managers is confirmed, and as a result, it should be based on the criteria of board ownership, board independence and board size, which can improve companies' performance and cause Increase the efficiency and effectiveness of board decisions in the company and increase the value of the company and create value for investors.   Manuscript profile

Open Access Article

10 - Providing an Effective Model for Monitoring and Evaluating Public Sector Financial Performance in Performance-based Budgeting
حافظ امرایی عادل آذر

10.30495/faar.2021.687679

Monitoring the financial performance of the government will enable governments to implement and implement fiscal policies and financial and economic decisions and ultimately economic and social development. Identify key and effective factors to change the financial perf More

Monitoring the financial performance of the government will enable governments to implement and implement fiscal policies and financial and economic decisions and ultimately economic and social development. Identify key and effective factors to change the financial performance system in the public sector from the traditional control method to the concept new control can help improve the well-being and well-being of individuals, groups, organizations and society. Therefore, the present study aims to identify key factors in monitoring and evaluating the financial performance of the public sector and increase accountability and transparency in this sector to provide an effective model for monitoring and evaluating the financial performance of the public sector in performance-based budgeting and among the qualitative research strategies The foundation was used And developed a comprehensive model that includes causal factors, intervention factors, contextual factors, strategies and consequences of providing an effective model for monitoring and evaluating the financial performance of the public sector in performance-based budgeting. The research tool was interview and data saturation was obtained based on 15 interviews using snowball sampling method. A total of 10 categories and 213 concepts were identified and placed in 6 categories of Strauss-Corbin model. In the proposed model, 10 central codes of "legal and regulatory factors", "organizational structure and culture", "financial and budgetary factors", "structural factors of monitoring and evaluation", "content and managerial factors of monitoring", "motivational and psychological factors" "Technology and information factors", "economic factors", "political and international factors" and "cultural, social factors" are considered in the model and causal factors, context conditions, interventionist conditions, consequences and strategies are considered. Certainly other components and indicators can be identified that, despite much effort, remain hidden and can be discovered, which in this respect the present study has been limited. Manuscript profile

Open Access Article

11 - Higher moments Portfolio Optimization based on Generalized CAPM with asymmetric power distribution and fat tail
Ali Souri Saeid Fallahpour Bahman Esmaeili

Every investor wants to select the optimal combination of return and risk in order to maximize their utility. In this study, an attempt was made to explain the optimal model for estimating returns and risk in cases where there is a financial crisis and the distribution More

Every investor wants to select the optimal combination of return and risk in order to maximize their utility. In this study, an attempt was made to explain the optimal model for estimating returns and risk in cases where there is a financial crisis and the distribution of return on assets does not follow the normal distribution.For this purpose, we use CAPM with independent and identically asymmetric power distribution (CAPM-IIAPD) and CAPM with independent identically saymmetric exponential power distribution with two tail parameters (CAPM-IAEPD) instead of traditional CAPM. When the assumption of normality is violated, higher moments are used to optimize the model. In the next step, using Polynomial Goal Programming, we calculate optimal portfolios with third and fourth moments.The time horizon of the research from 2011 to 2018 and the statistical population has been all the companies of Tehran Stock Exchange, among which 30 companies have been selected.The results show that CAPM-IIAPD Model is the best model among three models and the adjusted return on risk in optimized models with thirs and fourth moemnts in generalized CAPM models is significantly different from the traditional model and has a better performance. Manuscript profile

Open Access Article

12 - Identifying and ranking the capital structure index effective on evaluating financial performance in private banks
zahra fazeli Farzaneh Bikzadeh Abbasi سهیلا سردار

The banks are the most important financial institutions in the financial markets, which play a vital role in the growth of the economy and supporting businesses, and their financial performance is always important as a measure to measure the health and financial stabili More

The banks are the most important financial institutions in the financial markets, which play a vital role in the growth of the economy and supporting businesses, and their financial performance is always important as a measure to measure the health and financial stability of banks. Therefore, the evaluation of financial performance in private banks is one of the important issues in the banking industry, and due to the importance of the relationship between financial leverage and financial performance, the purpose of this research is to identify and rank the capital structure index effective on the evaluation of financial performance in private banks. The statistical population of the current research is the experts of private banks who were selected by snowball sampling method. This study was conducted in two qualitative and quantitative phases and in the period of 2022-2024. In the qualitative phase, database theory and semi-structured interviews have been used to identify capital structure indicators. In the quantitative phase, the identified indicators were ranked using the fuzzy hierarchy technique and the paired comparison questionnaire. The results indicate that 13 indicators have been determined as capital structure indicators that are effective in evaluating the financial performance of private banks, after determining their weight with the fuzzy AHP method, the interest coverage ratio index has the first rank and the debt coverage index has the last rank. Manuscript profile

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