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Open Access Article
1 - Analyzing risky and no risky approach of investment opportunities levels on share return prediction ability
Leila Shirnejhad sina kheradyar ebrahim chiraniThe goal of this study is analyzing investors’ decision based on different levels of investment opportunities based on risky and no risky approach on share return prediction ability. In this study, concentration is on using three regression models with replacement MoreThe goal of this study is analyzing investors’ decision based on different levels of investment opportunities based on risky and no risky approach on share return prediction ability. In this study, concentration is on using three regression models with replacement ability on variable coefficient of investment opportunities levels that can analyze share return prediction ability from viewpoint of risky and no risky investors. Study sample includes 113 firms from accepted companies in Tehran stock exchange that includes a time period of ten years from the beginning of 2008 to the end of 2017. Results show that only when investment opportunities level is average, share return prediction ability based on risky approach exists, and against, when investment opportunities level is high and low, share return prediction ability is performed based on investment no risky return. Thus, investment opportunities level has important roles on basis of no risky approach on share return prediction ability. Manuscript profile -
Open Access Article
2 - Investigating the value content of different models of free cash flow by considering the growth opportunities and adequacy of the Corporate Governance
javad hosseini Rasoul Baradaran Hasanzadeh ahmad mohammadi mahdi zeinaliThe purpose of this study is to identify a certain criterion of free cash flow that has the most value content under the influence of growth opportunities and corporate governance system. In fact, the purpose of this study is to conduct research that can be effective in MoreThe purpose of this study is to identify a certain criterion of free cash flow that has the most value content under the influence of growth opportunities and corporate governance system. In fact, the purpose of this study is to conduct research that can be effective in improving the comparability of companies and thus the quality of financial reporting by identifying a specific pattern of free cash flow that has value content. To achieve this goal, 11 widely used free cash flow models were tested on a sample of 180 companies listed on the Tehran Stock Exchange during 2009 to 2019 using panel data regression to examine the value content. The results of testing the research hypotheses showed that free cash flow based on the model of Lehn & Poulsen (1989) with a higher R2 than other models of free cash flow can explain changes in stock market prices under the influence of growth opportunities and corporate governance. . Overall, the findings show that the market gives more weight to the free cash flows of companies that have the opportunity for further growth and a strong corporate governance system. Manuscript profile -
Open Access Article
3 - Social Justice and Spatiale equity; An investignation and theoritical comparing of John Rowls and David Harvey
حسین Hataminezhad عمران RastiThe Justice as a popular and interested concept has been among a few conceptsthat are already debated by philosophers and social economic elites and there havebeen various theories about social justice. John Rawls is one of the famous politicalphilosophers in 20th centu MoreThe Justice as a popular and interested concept has been among a few conceptsthat are already debated by philosophers and social economic elites and there havebeen various theories about social justice. John Rawls is one of the famous politicalphilosophers in 20th century and David Harvey is most outstanding geographer insecond half of 20th century too. They have many philosophic approaches and articlesabout social Justice and spatial equity. This paper is going to investigate justiceconcept from point of their views and represent their common and differentiationviews. Manuscript profile -
Open Access Article
4 - Factors affecting enterprise risk management in companies listed on the Tehran Stock Exchange
mohamad hosein pourahmadi Gholam Reza Farsad Amanollahi zahra LashgariEnterprise risk management can identify, measure, control, and monitor risk levels. The issue of enterprise risk management has been of interest to companies in recent years. The purpose of this study is to determine the implementation of enterprise risk management prog MoreEnterprise risk management can identify, measure, control, and monitor risk levels. The issue of enterprise risk management has been of interest to companies in recent years. The purpose of this study is to determine the implementation of enterprise risk management programs and then to examine the factors affecting the management of organizational risk 118 companies during the years 1388 to 1398. Factors such as firm size, growth opportunity, return on assets, financial leverage and dividends were also used as factors influencing the implementation of enterprise risk management. The test results of the hypotheses showed that the size of the company with 0.2853 and growth opportunity with 0.2349 multiplaiers is meaningful and positive. Also, financial leverage with -0.03935 and dividend with -0.01095 don’t have significance. In other words, at the 95% confidence level, firm size, growth opportunity, return on assets have an impact on enterprise risk management and financial leverage, dividend variables have no effect on enterprise risk management in companies listed on the Tehran Stock Exchange. In other words, enterprise risk management can improve the operational performance and increase the value of the company, and companies that are exposed to high risk due to environmental uncertainty can prevent and control the adverse effects of risk Manuscript profile -
Open Access Article
5 - Investigation Institutional Investors Effect on Company Value Based on Managers Opportunities Behavior
Hamidreza Vakilifard Foad GhaderiThis paper examines the institutional investors effect on Company Value Based profit management perspective. The paper result show that companies group in growth will significantly to profit management.This paper examines the institutional investors effect on Company Value Based profit management perspective. The paper result show that companies group in growth will significantly to profit management. Manuscript profile -
Open Access Article
6 - Evaluation of Pairs Trading Strategy Using Distance Approach at Tehran Stock Exchange
Masood Tadi Majid Abkar Vahid MotahariniaAlgorithmic trading has become one of the main strategies in financial industry. This kind of trading involves trading strategies based on computer programs to decide whether to send their orders. Pairs trading strategy is one of the most popular and however, most under MoreAlgorithmic trading has become one of the main strategies in financial industry. This kind of trading involves trading strategies based on computer programs to decide whether to send their orders. Pairs trading strategy is one of the most popular and however, most understandable strategies in algorithmic trading. To implement a pairs trading strategy we can utilize several approaches or a combination of them. In this paper the distance approach has been considered. In this approach the two stocks that have least square distance between their normalized prices are being chosen for pairs trading. In this study, in order to implement this strategy, shares pair of metallic ores mining industry and price data in the year of 1395 have been selected. The strategies and the test, performance test trading strategies buy and hold strategy compared. In this paper all of stocks are selected from mining of metal ore industry during the first 9 months of the 1392 SH. Finally, the performance of pairs trading strategy is compared with buy and hold strategy and after that the favorable range of threshold and optimum threshold size is calculated. Manuscript profile -
Open Access Article
7 - Predicting the Organizational Commitment and their Components from Seven Personel and Organizational Variables
محسن گلپرور ـ سید حمیدرضا عریضی سامانیThe aim of this study was to predict the organizational commitment and their components (i.e Identificational, Exchange, and Affiliation commitment) from seventeen variables including participation to decision making, organizational citizenship behaviors, job perspectiv MoreThe aim of this study was to predict the organizational commitment and their components (i.e Identificational, Exchange, and Affiliation commitment) from seventeen variables including participation to decision making, organizational citizenship behaviors, job perspective, confidence in supervisor, pay satisfaction, promotion opportunity, internal motivation, supervising quality, desire to remain turnover intention, job attachment, work attachment and satisfaction with supervisor and coworkers. In order to reach the goals of the research, participants (male and female) were randomly selected from a public organization's personnel. Balfor and Wechsler's ( ) scale were used for measurement of the organizationa commitment and their components. The validity and reliability of the research instruments were investigated and verified. Stepwise regression analysis was used for data analysis. The results showed that in six steps: job attachment, participation in decision making, pay satisfaction, job perspective, promotion opportunity, and turnover intention were multiple correlation coefficient with identificational commitment and they are able to explain percent of this variable variance. The exchange commitment results showed that in six steps: supervision quality, job perspective, job attachment, pay satisfaction, satisfaction with coworkers and desire to remain have multiple correlation coefficient with exchange commitment and they are able to explain percent of this variable variance. For affiliation commitment, the results showed that in six steps: supervision quality, promotion opportunity, participation decision-making, pay satisfaction, desire to remain and satisfaction with coworkers had multiple correlation coefficient with affiliation commitment and were able to explain percent of this variable variance. For general organizational commitment, the results in eight steps: supervision quality, desire to remain, promotion opportunity, pay satisfaction, job perspective, satisfaction with coworkers, participation in decision making and job attachment had multiple correlation with general organization commitment and they were able to explain percent of this variable variance. Regression equations were also presented for predicting the indentificationa, exchange, affiliation and general organizational commitment. Manuscript profile -
Open Access Article
8 - Homeschooling; Apportunity or threat in Iran's education system?!
Bahare Soleimani Majid Aliasgari Ali Hosseinikhah Mohammad AttaranTThe purpose of this study was to investigate the concept of the homeschooling, its place inside and outside the country, and the aspect of the opportunity or threat thereof in Iran. To achieve this explanation, using a synthesis research methodology, a total of 127 stu MoreTThe purpose of this study was to investigate the concept of the homeschooling, its place inside and outside the country, and the aspect of the opportunity or threat thereof in Iran. To achieve this explanation, using a synthesis research methodology, a total of 127 studies were studied. Afterwards, 95 works including books, essays and theses were selected through systematic selection, content analysis and categorization. The criteria for selecting these studies were to study the above components for 1976-1976 for 60 external documents and 1991-2017 in 35 internal works. Then, a combination of findings was presented in accordance with the principles of integration, rethinking and re-mapping of data. At the end of each section, aggregate findings and general conclusions are presented as needed. The results showed that due to some educational factors such as lack of facilities, memory, lack of creativity, Axial book, etc., as well as value factors such as conflict of religious and social values, attention to the interests of children, the love of the homeschooling, and the use of This approach is an educational opportunity; it's over its threatening dimensions, such as lack of legalization, time consuming, lack of control tools, and so on. Considering the new educational approaches, breaking the monopoly of formal education and conducting applied research in this field, is presented as a suggestion. Manuscript profile -
Open Access Article
9 - The Effect of Financial Distress on the Investment Behavior of Companies Listed on Tehran Stock Exchange
Roya Ahmadi Hamidreza Kordloei -
Open Access Article
10 - Firm Value, Tax Evasion, Tax Planning Opportunity and Financial Crisis of Firms
Navid Paidarmanesh Alireza Mehrazin Mohammad Reza Abbas zadeh Abolghassem MassihabadeeThe purpose of this research is to investigate the reasons for tax evasion in companies, which uses two independent variables (financial constraints and tax planning opportunities) and tow dependent variable (firm value and tax evasion by tax difference method) in the f MoreThe purpose of this research is to investigate the reasons for tax evasion in companies, which uses two independent variables (financial constraints and tax planning opportunities) and tow dependent variable (firm value and tax evasion by tax difference method) in the form of 13 models. The 11 indicators have been considered for the variable of financial constraints of companies, and the model is implemented for all these indicators. The research was conducted in the 5-year period from 2015 to 2019 in the Tehran Stock Exchange, and Eviews software was used to analyse the data and fit them for 3 research hypotheses. The results of the research show that the opportunity for tax planning has a negative effect on the value of the company, and the increase in the opportunity for tax planning and subsequently tax evasion causes a decrease in the value of the company. Also, the research results showed that there is a significant relationship between tax planning opportunity and tax evasion (by tax differences method) of companies, while there is no positive relationship between financial constraints and tax evasion (by tax difference method) in companies that have tax planning opportunities. Manuscript profile -
Open Access Article
11 - Analysis of Relationship between Intellectual Capital Elements on the Different Behaviors of Entrepreneurs in the Process of Identifying Entrepreneurial Opportunities: Structural Equation Modeling
Shahrzad Barani Amir Hossein Alibeygi Background: Turning to small, entrepreneurial businesses, for their role in generating employment and wealth, is one of the key factors for economic growth and development in the modern era. Entrepreneurs in the process with identifying new opportunities, analyzi More Background: Turning to small, entrepreneurial businesses, for their role in generating employment and wealth, is one of the key factors for economic growth and development in the modern era. Entrepreneurs in the process with identifying new opportunities, analyzing customer requirements and the resources and assets will lead to the survival of entrepreneurial business. How to deal with the behavioral mechanisms of entrepreneurs in the process is a gap for studies. Objective: The paper examined the relationship between intellectual capital elements on the different behaviors of entrepreneurs in the process of identifying entrepreneurial opportunities. Method: The population of study was top producers of farming and agricultural entrepreneurs of Kermanshah (N=188). 106 were selected by simple random sampling. Findings: Structural equation modeling results indicated a positive and significant relationship between intellectual capital and opportunities. Knowledge and information, internal incentive, creativity and managerial experience were most important elements of intellectual capital. Entrepreneurs about recognition of opportunities were almost powerful and competitive review of opportunities, creating innovative solutions and actively seeking behaviors was approved as most important behaviors. Conclusion: Promotion of team work culture, strengthening of internal information systems, holding creativity techniques workshops and gaining business management experience, may be necessary to improve innovative behavior in identifying opportunities. Manuscript profile -
Open Access Article
12 - The Effect of the Rate of Sensing and Responding to the Technological Changes on Business Opportunity of Corporates
Saeid Mortazavi Alireza AminiPurpose: This paper intended to study the relationships between the effects of the rate of sensing and responding to the technological changes on business opportunity of a corporates. Methodology: A descriptive research was used to investigate the relationship bet MorePurpose: This paper intended to study the relationships between the effects of the rate of sensing and responding to the technological changes on business opportunity of a corporates. Methodology: A descriptive research was used to investigate the relationship between variables under study. To collect data, a questionnaire (α= 0.821) was distributed among some 160 venders of products of SAMSUNG brand in Mashhad city. The structural equation modeling using maximum likelihood estimation was applied to test the hypotheses. Findings: The results revealed that marketing strategies of corporate and responding to technological changes had directly positive effect on business position of SAMSUNG Co. while marketing strategies plays a mediatory role on the relation between sensing to technological changes and SAMSUNG business position. Result: Sensing to technological changes and appropriate responding to it provides corporate’s prosperity in their business. Manuscript profile -
Open Access Article
13 - Customer Social Interactions in Digital Media & its Impact on Discovering Corporate Entrepreneurship Opportunities
Ali Ghavami Asghar Sarrafizadeh Ali Badizadeh Akbar Alem TabrizWith the technological dominance of the contemporary living world, social and economic interactions have also changed and Digital Media has become an important platform for entrepreneurship, self-expression (branding), marketing and display of social character and lifes MoreWith the technological dominance of the contemporary living world, social and economic interactions have also changed and Digital Media has become an important platform for entrepreneurship, self-expression (branding), marketing and display of social character and lifestyle. in this kind of circumstances; Understanding the needs, feelings, tastes and behaviors of customers and also understanding their differences with the aim of optimally allocating resources to them, is the most important challenge of Corporate Entrepreneurship.The purpose of this study is to identify market needs (identifying entrepreneurial opportunities) by analyzing users' social interactions in digital media and meeting these needs by the corporate and the innovation used in it is Corporate Entrepreneurship by analyzing the actions and reactions of digital media users. Therefore, this research is "exploratory-applied and qualitative" after reviewing the literature and research background and using the Delphi technique; Provides a conceptual model for Corporate Entrepreneurship so that corporates can analyze the social interactions of their digital media users; Take action to improve CRM as well as discover entrepreneurial opportunities. Using this conceptual model, corporates are able to identify digital media users who have been influenced by published content to take advantage of these actions and responses to drive them to Corporate Entrepreneurship and product purchasing. Manuscript profile -
Open Access Article
14 - گفتگوکاویِ نحوه پرسش معلمانِ زبان انگلیسی و بسترسازی فضای یادگیری در تعاملات کلاسی
باقر یعقوبی فاطمه مظفریدانشگاه مازندران پژوهش های انجام شده در زمینه نحوه پرسش معلمان در تعاملات کلاسی،عمدتاً کمی و معطوف به شناسایی انواع پرسش ها و نقش آنها درمرتفع ساختن ابهامات مفهومی در یادگیری بوده است. پژوهش حاضر با بهره گیری از تئوری اجتماعی- فرهنگی ویگوتسکی و دیدگاه گفتگوکاوی، به بررس Moreدانشگاه مازندران پژوهش های انجام شده در زمینه نحوه پرسش معلمان در تعاملات کلاسی،عمدتاً کمی و معطوف به شناسایی انواع پرسش ها و نقش آنها درمرتفع ساختن ابهامات مفهومی در یادگیری بوده است. پژوهش حاضر با بهره گیری از تئوری اجتماعی- فرهنگی ویگوتسکی و دیدگاه گفتگوکاوی، به بررسی کیفی رابطه ممکن بین پرسشهای معلمان زبان انگلیسی وایجاد وبستر سازی فضای یادگیری می پردازد. جهت جمع آوری داده ها، میانکنش های یازده کلاس (هفت معلم) ضبط و تصویربرداری شد؛ سپس تعاملات ضبط شده به صورت نوشتاری تهیه گردید.تحلیل نوبت به نوبت تعاملات نشان داده است که صرفا تعداد اندکی از پرسشهای معلمان فرصت های مشارکت و فضای یادگیری موثری را برای زبان آموزان ایجادمی کنند. علاوه بر این، چهار نوع پرسش موثرشناسایی شد: پرسشهایی که پاسخگویی را آسان تر می کنند، پرسشهایی که ابعاد اساسی بحث را برجسته می کنند، پرسشهایی که نظر سایر زبان آموزان را می پرسند وپرسشهای متوالی که تعامل را ادامه می دهند. مشاهدات و تحلیل ها نشان می دهد که پرسشهای معلمان تنها برای یافتن پاسخ از سوی زبان آموزان نیست بلکه آنها ابزارهای تعاملی مناسبی در جهت درک و مشارکت بیشتر زبان آموزان درتعاملات کلاسی هستند. Manuscript profile -
Open Access Article
15 - Judicial Analysis in Loss of Opportunity Acceptance
Jamileh Jafari Mohammad hadi Mahdavi     Loss of chance theory that related to compensation of damages because of the loss of opportunity has been posed in the world legal community for about half of a century, but there is also the issue of vote violence in this field and there are no judicial prec More     Loss of chance theory that related to compensation of damages because of the loss of opportunity has been posed in the world legal community for about half of a century, but there is also the issue of vote violence in this field and there are no judicial precedents. In Iranian law efforts to achieving the criteria for a claim of damages resulting from lost opportunity has not been made. In today's world people`s valuable opportunities that could lead to profit or disposal of harmful in the future has been taken into consideration and waste of them should not be overlooked according to common law. This study aims to find the right solution by using general rules of Fiqh (Jurisprudence) such as rule of negation of loss, wastefulness and casualty and it is based on a rational foundation. By placing it among the most valuable, convertible to money and tangible assets of individuals, the existing doubt prove liability of missed opportunity has been set aside and proper steps has been taken to prepare the appropriate legal ground for acceptance of loss of opportunity as a claim for loss compensation. Manuscript profile -
Open Access Article
16 - The social and intellectual basisin the thoughts ofseizing the opportunity in The Persian quatrains
Saeid HatamiHuman predilection to enjoy happiness and inner tranquility, depending on the intellectual and social situation in the Persianquatrains in the form of phrasesconnected with taste and ethical teachingshas been manifested. As this doctrine has always been one of the centr MoreHuman predilection to enjoy happiness and inner tranquility, depending on the intellectual and social situation in the Persianquatrains in the form of phrasesconnected with taste and ethical teachingshas been manifested. As this doctrine has always been one of the central didactic themes in the poem. This article intends to contemplateon the Iranian most popularquatrains, tillthe 8th century,in order to not only understanding the quality ofdistinct reflections of the teachings in their work, and findingthe social and intellectual fundamentals of the idea of inviting the audience to use every opportunity, lenienceand joyfulness,but alsofindingthe quality of the idea being impressedbyemotional and intellectual society situations. According to the study, ethical teachings in thesequatrains, being profoundly impressed by current thoughts and political situations, despite thesimilarities to the idea of hedonism in the attitude of the meaning of happiness, peace, and strategies to achieve,have benefitted fromthe deep intellectual supports, independent ofthe school of hedonism, which arerooted in their humanistic worldview and attitude. Manuscript profile -
Open Access Article
17 - Development of employment opportunities on geotourism (Case study: Julfa in east Azerbaijan)
آیت اله ممیز مهدی عباسی سیده عاطفه قاسمیToday, many development planners and policy makers, mention tourism as the main pillars of sustainable development. Geotourism is one of the specialized nature tourism. One of the prone areas on geotourism in Iran is East Azarbaijan province. Julfa region in MoreToday, many development planners and policy makers, mention tourism as the main pillars of sustainable development. Geotourism is one of the specialized nature tourism. One of the prone areas on geotourism in Iran is East Azarbaijan province. Julfa region in North West of East Azarbaijan province is the case study for this paper. As one of the richest areas in terms of tourist attractions, Julfa has suitable places for tourism planning based on the geotourism. The purpose of this study is to develop of employment opportunities in the field of geotourism in Julfa region. This study is based on a descriptive survey. Statistical population of this study was 100 people and the data collection was based on interviews, observation and questionnaires. Cronbach's alpha approach and the validity of the views of scholars and professors have been used for reliability of the questionnaires. Data analysis was performed by using SPSS software and The Friedman nonparametric test has been used for testing and prioritization of variables. The results show that the tendency to create new opportunities besides existing natural opportunities would cause increase and enhance on employment opportunities in the region. Manuscript profile -
Open Access Article
18 - Cooperative aggregate production planning: a game theory approach
Ashkan Hafezalkotob Samaneh Chaharbaghi Tahmineh Moradi Lakeh -
Open Access Article
19 - Investigating the Relationship between Financial Reporting Quality and Capital Intensity and Moderating Role of Growth Opportunities
یحیی حساس یگانه اسماعیل توکل نیاFrom the agency theory perspective, there are various control mechanisms to attenuate information asymmetries and information risk and to enable better supervision of managerial activity that mitigates the opportunistic behavior of managers, such as financial reporting MoreFrom the agency theory perspective, there are various control mechanisms to attenuate information asymmetries and information risk and to enable better supervision of managerial activity that mitigates the opportunistic behavior of managers, such as financial reporting quality and disclosure. Several studies have analyzed some of information asymmetries and information risk attenuate effects, such as the reduction of the cost of capital and cost of debt and access to the debt market and the effect on its conditions, i.e., lower cost, higher debt maturity and lower guarantees in bank financing. This study, examines the impact of financial reporting quality and growth opportunities on the capital intensity. The sample of this study, includes 134 companies listed in the Tehran Stock Exchange during the period 1392-1396 and for processing and testing hypotheses, panel data methodology is used. The results show that financial reporting quality has negative impact on the capital intensity. Also, it shows that growth opportunity decreases negative impact of financial reporting quality on capital intensity. Therefore designed conceptual model is confirmed. Manuscript profile -
Open Access Article
20 - Determining the export priorities of Iran's petrochemical products to member countries of ECOTA and Eurasia trade agreements
فرزاد کریمی maryam rashidinia hassan ghorbani dinaniThe most important relative advantage of Iran has been the export of crude oil and natural gas for a long time. Considering the raw nature of these products, specialization in the production and export of these products will not have a significant impact on Iran's susta MoreThe most important relative advantage of Iran has been the export of crude oil and natural gas for a long time. Considering the raw nature of these products, specialization in the production and export of these products will not have a significant impact on Iran's sustainable growth. One of the solutions is to infiltrate the downstream industries of these products, the most important of which is the development of the petrochemical industry. In this sense, since the expansion of export markets is considered as one of the important strategies in the field of marketing, the aim of this research is to identify and prioritize the export opportunities of Iran's petrochemical industry products by developing an integrated decision support model - economic complexity, in five countries that are members of the Eurasian Economic Union. It includes Belarus, Kazakhstan, Russia, Kyrgyzstan, and Armenia, and the member countries of ECOTA trade agreements include Afghanistan, Pakistan, Tajikistan, and Turkey.the current research is applied in terms of purpose, descriptive-survey in terms of data collection, and a mixed type of research. The statistical population of the research was formed by the member countries of ECO and Eurasia trade agreements during the period of 2014 to 2021. First, in order to identify the factors affecting the development of export opportunities, using a questionnaire and a fuzzy Delphi model, based on the opinions of experts working in the private sector and petrochemical companies, experts working in specialized government jobs of the Ministry of Health, and academic experts, Manuscript profile -
Open Access Article
21 - Effective specific corporate characteristics on the stock price crash risk
Nahad Behzadi Jamal Bahri Sales Saeid Jabbarzadeh Kangarluei Younes Badavar NahandiPurpose: In order to explain stock price crash risk as an index to measure asymmetry in risk, despite its importance in portfolio analysis and pricing of capital assets, no model has been designed. At the same time, it is very necessary to identify effective factors on MorePurpose: In order to explain stock price crash risk as an index to measure asymmetry in risk, despite its importance in portfolio analysis and pricing of capital assets, no model has been designed. At the same time, it is very necessary to identify effective factors on stock price crash risk in Tehran Stock Exchange, which is a nascent, inefficient and developing market, because this risk is an inhibiting factor in attracting financial resources in capital market. Therefore, in present research, it has been investigated effective specific corporate characteristics on stock price crash risk.Methodology: In this research, data of 127 companies during period of 2011 to 2021 was used and for analysis, structural equation modeling was used in PLS 3 software. Research variables (except dummy variables) have been entered into model in decimal form. Specific corporate characteristics include growth opportunity, agency cost, size, performance and risk of the company, and two measures of the negative skewness coefficient of the stock return and fluctuation of the specific weekly return of the company have been used to measure stock price crash risk.Findings: findings indicate that effect of growth opportunity, size and performance of company on stock price crash risk was negative and significant, and effect of agency costs was positive and significant. Meanwhile, stock price crash risk has been independent of company's risk.Originality / Value: findings of the research showed that the stock price crash risk was independent of other company risks. Therefore, this issue should be considered by investors. Manuscript profile -
Open Access Article
22 - Growth opportunity and investment policy considering the role of managerial incentives in Iran's capital market
Meysam DoaeiObjective: This study examines the relationship between growth opportunities and investment policy, considering the role of managerial incentives within a sample of firms listed on the Tehran Stock Exchange and the Iran Fara Bourse. Methodology: This research is appl MoreObjective: This study examines the relationship between growth opportunities and investment policy, considering the role of managerial incentives within a sample of firms listed on the Tehran Stock Exchange and the Iran Fara Bourse. Methodology: This research is applied in goal, quantitative in data type, inductive in logic, and descriptive-correlational in its implementation. Using library resources, relationships between variables were tested using correlation models and multiple regression with a dynamic panel approach. Initially, data collected were organized and processed in Excel, and subsequently, the R statistical software was employed for data analysis. Findings: Statistical analysis and regression estimates indicate that there is a significant relationship between growth opportunities and investment in both tangible and intangible assets. Furthermore, managerial incentives moderate the relationship between growth opportunities and investments in both types of assets. Originality/Scientific Value: The innovation of this research lies in identifying the role of managerial incentives in the relationship between growth opportunities and investment policy in Iran's capital market. Manuscript profile -
Open Access Article
23 - Investigating the country's sports management strategies in Iran
Abbas ShabaniStrategic planning is a way of planning that concerns internal and external factors via SWOT analysis. The main goal of this Investigating the country's sports management strategies in Iran. The population of this study comprises the managers, vice-presidents, top an MoreStrategic planning is a way of planning that concerns internal and external factors via SWOT analysis. The main goal of this Investigating the country's sports management strategies in Iran. The population of this study comprises the managers, vice-presidents, top and middle as well as operational managers of physical education organization in Iran. The data have been collected by a questionnaire that its reliability and validity were determined by a pilot study (Chronbach Alpha = 0/92) and expert panel, respectively. In order to analyze the collected data, the researchers have employed descriptive statistics such as Kolmegrov-smirnov and T student test. The obtained results revealed that taking experts’ comments into consideration and using them in sport organization may highlight sport management. The condition of women in management level, sport marketing, and position-based planning were categorized as weak points. According to the results, a comprehensive planning for sport, information and communication technology development, privatization, doing research in sport management and having young population were the most prominent opportunities for sport management. To enclose, government involvement in managing sport, engaging lots of policy makers in sport and also the dependence of club managers on governmental parties have been categorized as threats of sport management. Manuscript profile -
Open Access Article
24 - Civil liability of governmental, educational institutions arising from the loss of opportunity
alehealsadat ghanriz Hossein mehrpoor Abbas karimiAbstractThe issue of loss of opportunity and the possibility or impossibility of damages resulting from is crucial civil liability issues. However, there is still no specific text or judicial procedure in Iranian law. When the loss of opportunity arises from government MoreAbstractThe issue of loss of opportunity and the possibility or impossibility of damages resulting from is crucial civil liability issues. However, there is still no specific text or judicial procedure in Iranian law. When the loss of opportunity arises from government subsidiaries' performance, this legal vacuum manifests more clearly. The concept of subordinate responsibility of the government is a way to fill this legal gap. At first glance, however, there is a conflict between the institutional principle of personal responsibility and the subordinate responsibility of the state. But the formulation of two distinct arguments is capable of resolving this conflict; Those arguments are mainly ascertained on intrinsic duties and mechanisms at the government's disposal. The subordinate responsibility of the government is founded on national and international rules and regulations. Also, in the Islamic legal system, the subordinate responsibility of the ruler is considered and emphasized. Derived from Article 30 of the Constitution of the Islamic Republic, the provision of effective and efficient educational management should be deemed as a part of government governance duties, i.e., Providing a coherent set of knowledge derived from the application of scientific methods to characterize and explain organizational elements and relations between them in educational organizations. If the citizens have lost the opportunity and the resulting losses due to the inefficiency of the academic management of government institutions, the government has civil liability for those cases, as in other similar cases. Keywords: Loss of Opportunity, Civil Liability, Subordinate Liability, Citizen, Educational Management, Public Education Manuscript profile
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