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Open Access Article
1 - The Probability of Default on Payable Facilities of the First Micro Finance Bank in Herat Afghanistan
Mohammad Sadeq Mohammadi Mostafa KarimZadeh Mehdi BehnameThe aim of this study is to investigate the factors affecting the probability of banking facilities default by customers and to determine the main variables coefficient related to the probability of default. Finally, using logit regression, a model has been provided to MoreThe aim of this study is to investigate the factors affecting the probability of banking facilities default by customers and to determine the main variables coefficient related to the probability of default. Finally, using logit regression, a model has been provided to increase the ability of the bank's managers to solve the problem of non-repayment of credit facilities on time. First, 7 variables that had a significant effect on customers' credit risk were identified and fitted to the significance level of 5% of the final model using LR statistics. The results showed that the variables of the borrower's monthly income, the borrower's relationship with the guarantor, the guarantor's guaranteed capital, the borrower's experience and job stability, the loan repayment period and the years of borrower's relationship with the bank, have adverse effect on credit risk and the variable loan amount has a direct effect on credit risk. Manuscript profile -
Open Access Article
2 - The Effects of Liquidity Creation on Systemic Risk: by Concentration on Banks Balance Sheet Structure
somaye sadeghiThis study investigates the determinants factors of systemic risk in Iranian banks during 2013-2022. The contribution is on banks liquidity creation and their balance sheet structure. For this purpose, the systemic risk of banks has been estimated and ranked by marginal MoreThis study investigates the determinants factors of systemic risk in Iranian banks during 2013-2022. The contribution is on banks liquidity creation and their balance sheet structure. For this purpose, the systemic risk of banks has been estimated and ranked by marginal expected shortfall (MES) index, using dynamic multi-garch models. The results by using Panel GMM method indicate that an increase in the balance sheet liquidity creation causes the vulnerability of banks to increase. Also, the liquidity creation on the side of assets (holding non-cash assets) significantly increases the systemic risk for banks, while which on the side of debts (holding of demand deposits) reduces the banks systemic risk and their fragility. In addition, the findings indicate that the bigger the size, the more non-traditional activities (non-interest income) and the higher the ratio of non-performance loans, the higher systemic risk in banks. while the higher capital adequacy in banks, the lower the systemic risk. Manuscript profile -
Open Access Article
3 - The Estimation of Systematic Risk in Iranian Financial Sectors (ΔCoVaR Approach)
samad hekmati farid Ali Rezazadeh ali malekAbstract The occurrence of last crisis has led to the consideration of systematic risk and it's transmission in theoretical and empirical point view. Hence, the main aim of this paper is to estimate and localize of systematic risk in financial sectors of Iran such as St MoreAbstract The occurrence of last crisis has led to the consideration of systematic risk and it's transmission in theoretical and empirical point view. Hence, the main aim of this paper is to estimate and localize of systematic risk in financial sectors of Iran such as Stock, Insurance and Bank sectors during the period of 1995-2015. The quintile regression econometric approach has been used for estimating the difference conditional value at risk in these sectors. The main empirical findings of post estimation indicated that there is significant difference between Stock, Insurance and Bank sectors as main financial sectors. Moreover, the results of Fridman test as a method for ordering of variable status showed that, the systematic risk of insurance is high and risk of bank is low during the period of study. So, there is significant difference between orders of financial sectors in Iran over the period of study. Manuscript profile -
Open Access Article
4 - Customers' Credit Risk Evaluation Using LINMAP Analysis (A Case Study on an Iranian Commercial Bank)
Seyed Ali Naji Esfahani Mohammad Ali RastegarAbstract The aim of this paper is evaluation and forecasting of credit risk of the companies that were applied for a loan in a commercial bank in Iran. So, by using cross-section random sampling by having 75% of total data as an in-sample and 25% as out-sample and also MoreAbstract The aim of this paper is evaluation and forecasting of credit risk of the companies that were applied for a loan in a commercial bank in Iran. So, by using cross-section random sampling by having 75% of total data as an in-sample and 25% as out-sample and also by using LINMAP model, financial statements and their performance in the bank were investigated during 1389-1393. The results indicate the efficiency of the method for forecasting credit behavior of the bank's customers. Considering the method advantages including its independence to the companies' financial background and precision in forecasting relative to prevailing methods, it is recommended to use this method as input to researches for banks' credit portfolio management. Manuscript profile -
Open Access Article
5 - سنجش انواع ریسک در نظام بانکداری بدون ربا (روش ترکیبی دیمتل و مدلسازی ساختاری تفسیری)
مهدی پندار رضا ویسی -
Open Access Article
6 - بررسی روشهای تأمین مالی با رشد سود آوری شرکتهای صنایع داروئی در ایران
علی نعمتی مجتبی کریمی رویا وحیدی مولوی -
Open Access Article
7 - بانکداری اسلامی وریسک، یک تحلیل تطبیقی
سید سجاد علم الهدی -
Open Access Article
8 - طراحی و اعتباریابی مدل تامین مالی در شرکت های بزرگ صنعت فولاد
علی شفیعی وحید رضا میرابی -
Open Access Article
9 - کاربرد قراردادهای سلف موازی استاندارد بورس انرژی در پوشش ریسک قیمت بازار برق ایران
علی طیب نیا محسن مهر آرا مهران کیانوند -
Open Access Article
10 - Designing an entrepreneurial model based on enablers for Iran
Dawod Mukhtarpour Fardin ShurajAbstractThe purpose of this study was to design an entrepreneurial empowerment model in Iran. In this study, a combined method (qualitative and quantitative) was used. The statistical sample of the study included 33 entrepreneurship experts, 110 micro and macro business MoreAbstractThe purpose of this study was to design an entrepreneurial empowerment model in Iran. In this study, a combined method (qualitative and quantitative) was used. The statistical sample of the study included 33 entrepreneurship experts, 110 micro and macro business managers and 163 entrepreneurship students. The tools of this research were Delphi questionnaires, interpretive structural modeling and entrepreneurial performance. Validation of questionnaires using expert opinion and validity using factor analysis. The reliability of the questionnaires was also confirmed by Cronbach's alpha method. Delphi method and interpretive structural modeling were used to identify entrepreneurial enablers and to examine the relationship between them, and structural equation modeling method was used to test research hypotheses. According to the results, a total of 9 empowerment (cultural factors, economic factors, information, political factors, contextual factors, structural factors, institutional factors, personality and individual characteristics, and the use of the global community) and 52 identifications. Were. The final results of ISM showed that the underlying factors and the benefit of globalization are at level 1 and the cultural factors are at level 6. Also, the results of sub-hypotheses showed that all entrepreneurial enablers affect entrepreneurial performance. Manuscript profile -
Open Access Article
11 - The Influence of working capital management on Profitability of Companies listed in Tehran Stock Exchange
امید فرمان آرا میثم عارف نژاد محبوبه جعفریAbstract Economic enterprises are effectively participating in economic sphere. Two indicators of liquidity power and profitability financially determine this effectiveness. The so-called profitability is the sign of the firm's health and the power of liquidity is the MoreAbstract Economic enterprises are effectively participating in economic sphere. Two indicators of liquidity power and profitability financially determine this effectiveness. The so-called profitability is the sign of the firm's health and the power of liquidity is the survival sign of the economic enterprise. In other words, if a company is not profitable, then it's sick, but if there is no liquidity, its survival is in danger. While, both of these factors are important, but liquidity has a higher level of importance. The aim of this research is to investigate the relationship between financial leverage and working capital management and its impact on profitability and performance indicator of listed companies in Iran’s capital market. The statistical sample has been selected by using the available systematic elimination method that has been studied from 2010 to 2014. Research hypotheses were examined by using the linear regression, and regression results among the study sample showed that there is a positive and significant relationship between the combination of working capital and the economic value added of the companies listed in Tehran Stock Exchange, and this relationship will be reversed by the mediator impact of financial leverage; but this relationship was not observed among companies operating in Iran’s OTC market. The results also showed that the working capital combination does not have a significant impact on the variables of financial leverage and the ratio of return on equity in companies active in Tehran stock exchange organization and Iran's OTC market. Manuscript profile -
Open Access Article
12 - The Effect of Institutional Ownership Horizon on Social Responsibility and Stock Value of Companies Listed on the Tehran Stock Exchange
فاطمه صراف مجتبی کریمی فاطمه بشارت پورAbstract Institutional investors with a significant shareholding in corporate stocks have a lot of influence in investable companies and can influence the practices of managers. The internal functioning of social responsibility and institutional ownership can lead to i MoreAbstract Institutional investors with a significant shareholding in corporate stocks have a lot of influence in investable companies and can influence the practices of managers. The internal functioning of social responsibility and institutional ownership can lead to improved corporate position, increased efficiency, profitability, value and long-term survival of companies. By disclosing social responsibility, companies can obtain the material and non-material support of institutional investors. The purpose of this study is to investigate the effect of institutional ownership horizon on social responsibility and stock value of companies listed on the Tehran Stock Exchange during the period 2009-2010. Findings show that the long-term institutional ownership horizon has a positive and significant effect on corporate social responsibility and stock value. The results also show that the horizon of short-term institutional ownership has a negative and significant effect on social responsibility and stock value of companies. Therefore, it is important to pay attention to the type of institutional owners in better investment with less risk. Manuscript profile -
Open Access Article
13 - Title of fitting and testing the native model of market orientation in the Iranian banking industry
مجید قلی پور یلدا رحمتی کامبیز شاهرودیThe purpose of this study is to fit the indigenous model of market orientation in the Iranian banking industry. The present study is mixed (qualitative-quantitative) and in the first stage, the qualitative method with Strauss-Corbin approach was used to construct the mo MoreThe purpose of this study is to fit the indigenous model of market orientation in the Iranian banking industry. The present study is mixed (qualitative-quantitative) and in the first stage, the qualitative method with Strauss-Corbin approach was used to construct the model and in the second stage, the structural equation method was used to test the model. After studying the theoretical foundations of market orientation, designing interview questions, conducting interviews and achieving theoretical saturation, a questionnaire was developed that was 288 items in 59 concepts. In order to check the validity of the final questionnaire, it was distributed among 12 industry and academic experts and after calculating the CVR of items, this value was reduced to 212 items in the form of 58 items. In the qualitative part of the statistical population included prominent banking experts and in the second step, which was the quantitative part of the research, a research questionnaire was distributed among middle managers, senior managers and experts of 33 banks in the country. The results showed that in the qualitative section, 54 concepts obtained were placed in 6 categories including strategies and actions, causal conditions, contextual conditions, intervening conditions, consequences and central phenomena. Also, according to the software output in the quantitative part, the path coefficient value for the 5 relationships between the components of the model has a positive value, which means that the relationships are direct and only the variable relationship of interfering factors and strategies has a negative sign. Manuscript profile -
Open Access Article
14 - Presenting a Comprehensive Model for Measuring the Liquidity Risk of Banks Listed on the Tehran Stock Exchange (Case Study: Mellat Bank)
Toraj Azari Mojtaba Tastori Reza Tehrani AbstractLack of liquidity management of banks is one of the most important risks for any bank and lack of attention to liquidity risk leads to irreparable consequences. Preventing liquidity risk requires a comprehensive measurement method but liquidity risk is com More AbstractLack of liquidity management of banks is one of the most important risks for any bank and lack of attention to liquidity risk leads to irreparable consequences. Preventing liquidity risk requires a comprehensive measurement method but liquidity risk is complicated issue, and this complexity makes it difficult to provide a proper definition. In addition, defining liquidity risk determinants and formulation of the related objective function to measurement its value is a difficult task. To address these problems and assess liquidity risk and its key factors, in this study we propose a model that uses artificial neural networks and Bayesian networks. Design and implementation of this model includes several algorithms and experiments to validate the model. In this paper, we have used Levenberg-Marquardt and Genetic optimization algorithms to teach artificial neural networks. We have also implemented a case study in Bank Mellat to demonstrate the feasibility, efficiency, accuracy and flexibility of the research liquidity risk measurement model. Manuscript profile -
Open Access Article
15 - Investigating the effect of managerial Entrenchment on disclosure Given the role of debt maturity moderator of companies accepted in Tehran Stock Exchange
نجمه حبیبی محمد مهدی عباسیان عباسعلی پورآقاجانThe purpose of this study was to investigate the impact of managerial Entrenchment on disclosure of information regarding the moderating role of debt maturity in listed companies in Tehran Stock Exchange. This is a descriptive-correlational study and it is an applied re MoreThe purpose of this study was to investigate the impact of managerial Entrenchment on disclosure of information regarding the moderating role of debt maturity in listed companies in Tehran Stock Exchange. This is a descriptive-correlational study and it is an applied research. The statistical population of the study consisted of all companies listed in Tehran Stock Exchange during the years 1392 to 1396. The research data were extracted from corporate financial statements and analyzed by regression models using combined data method. The findings of the study showed that managerial Entrenchment has an impact on the reliability of financial statements of listed companies in Tehran Stock Exchange and also showed that managerial Entrenchment due to the role of debt maturity moderator on timely financial statements of listed companies Tehran's stock has been impressive. Manuscript profile -
Open Access Article
16 - Investigating the Impact of Indicators Related to Supervision on Financing Mechanisms and Factors Affecting it
Masoume Alavi Ahmed Yaqubnejad Fazel MohammadiNodehAbstractOne of the important issues in the financing mechanisms and its selection is the issue of financial reporting that has been the focus of creditors and the capital market in recent years as the mainstream of financing. In this context, auditors, as an external co MoreAbstractOne of the important issues in the financing mechanisms and its selection is the issue of financial reporting that has been the focus of creditors and the capital market in recent years as the mainstream of financing. In this context, auditors, as an external corporate governance control and oversight mechanism, can play an important role in informing creditors and investors. Therefore, the present study investigates the impact of indicators related to supervision on financing mechanisms and factors affecting it. The statistical population of the study consists of 99 companies listed in Tehran Stock Exchange during the years 2012-2018 . Multivariate regression models were used to test the research hypotheses. , The findings of the study show that some variables of audit firm characteristics such as life, competitiveness, independence, number of partners, rank in the CAO, size and tenure of the firm , have significant effects on financing Debt, issuance of ordinary shares, over-leverage, risk and weighted average cost of capital. Manuscript profile -
Open Access Article
17 - The Relationship of Free Float, Stock Returns, Liquidity and Corporate Value
Abdorreza Asadi Hoda ImantalabThe purpose of this study is to investigate the relationship between free float stock and return, liquidity and the value of listed companies in Tehran stock exchange. For analyses data collected from 134 listed companies over seven years of 2010 to 2016 has been used i MoreThe purpose of this study is to investigate the relationship between free float stock and return, liquidity and the value of listed companies in Tehran stock exchange. For analyses data collected from 134 listed companies over seven years of 2010 to 2016 has been used in the study. To analyze the data and testing the hypotheses, the study has employed multiple regression models with several variables using panel data structure. The results show that based on testing the first hypothesis, the relationship between free float and stock return is significantly positive. Moreover, based on the second hypothesis, whereas the effect of current ratio is insignificant but the significance of the total model is accepted and the relationship between free float and stock liquidity is significantly positive. In the third hypothesis the total regression model is also significant, so there is a positive and significant relationship between free float with companies value. Manuscript profile
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