List of Articles ریسک گریزی

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  1 - Presentation of a policy model for the protection of depositors' rights in banking crises in Iran
  mohammad javad pourasadi kaveh timor nezhad mohammad reza rabiey mand[in
  Background: Paying attention to depositors' rights and policy-making is currently ambiguous and due to the economic complexity of identifying a model in order to safeguard the rights of customers and depositors. Purpose: The present study aims to develop a policy model More

  Background: Paying attention to depositors' rights and policy-making is currently ambiguous and due to the economic complexity of identifying a model in order to safeguard the rights of customers and depositors. Purpose: The present study aims to develop a policy model to safeguard the rights of depositors in banking crises in Iran. Methods: Factor analysis, path analysis and interpretive structural modeling were used to achieve this goal. Findings: The findings of the study, after analyzing the content of 23 concepts, 5 categories and 97 indicators in the field of policy making and then inputting them into quantitative analysis using factor analysis which is necessary; Depositors as the primary strategy to modify or improve the laws related to depositors should be considered by policymakers and policy makers as the driving force behind the implementation conditions. Finally, the concepts and categories identified should be taken into account in order to safeguard the rights of depositors. Manuscript profile
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  2 - بررسی تأثیر عامل حساسیت سهامداران، ویژگی های سهام شرکت ها و اثر مومنتوم بر بازده سهام و عملکرد مالی شرکت های پذیرفته شده در بورس اوراق بهادار تهران
  Davood Hamzeh Maryam Khalili Araghi Kambiz Peikarjoo
  Investors invest in stock market to gain benefit, so always trying to make a reasonable relationship between the stock price, return and the financial performance; therefore, it is important to identify the effective factors. In this study, effect of investor’s se More

  Investors invest in stock market to gain benefit, so always trying to make a reasonable relationship between the stock price, return and the financial performance; therefore, it is important to identify the effective factors. In this study, effect of investor’s sensitivity, stocks properties and the momentum effect on stocks return and financial performance were reviewed and analyzed over the period of 1386 to 1392. The statistical population of this research study is the companies listed on the Tehran Exchange Stock, and the linear regression was used for assumption testing.Methodology- This research is practical, and has examined effect of investor’s sensitivity, stocks properties and the momentum effect on stocks return and financial performance. For the shareholder’s sensitivity evaluation, the EMSI indicator has been used.Results- The shareholder’s sensitivity indicator depicted that investors had risk aversion great deal of 37.48%, during the period of investigation. Hypothesis test results presented that the sensitivity of the shareholders indicator, the ratio of book value of company to the market value, firm’s size and stocks volatility had a significant effect on stock returns. With studying effect of mentioned factors on the performance indexes, following result indicated:Shareholder’s sensitivity, firm size and the ratio of book value of company to the market value have a significant effect on company’s asset return.Firm’s size, stocks volatility and the ratio of book value of company to the market value have a significant effect on stockholder’s equity return.Firm’s size and the ratio of book value of company to the market value have a significant effecton Tobin’s Q ratio.Shareholder’s sensitivity, firm size and the ratio of book value of company to the market value have a significant effect on the ratio of stock prices to corporate profits. Manuscript profile
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  3 - Investigating the relation between Balloon Analogue Risk Task and financial risk aversion; evidence from Tehran Stock Exchange
  Saeed Eslami Bidgoli Ali Setayeshi
  This Study Introduces psychometric and psychological tools and their application in assessing individual decisions. In the following, the ability of the BART, Balloon Analogue Risk Task, in predicting the financial risk-taking level is measured. To support this claim, a More

  This Study Introduces psychometric and psychological tools and their application in assessing individual decisions. In the following, the ability of the BART, Balloon Analogue Risk Task, in predicting the financial risk-taking level is measured. To support this claim, active investors in Tehran Stock Exchange has taken the BART test and their risk-taking level is measured by the test variables. Accordingly, the activity of these tested examiners will be observed during the next year in the Tehran Stock Exchange. Assuming the Beta stability, the participants' portfolio Beta will be the indicators of their financial risk-taking and their investment decisions.The outcome of the Study shows a meaningful relationship between the gained scores of the BART test as a general risk-taking indicator and the examiners' portfolio Beta as a risk-taking indicator. These results show that we can rely on this test (BART) as a tool to predict the investors' behavior. Manuscript profile
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  4 - Evaluate Capital market analyst’s personality traits as a third dimension to their success
  Khadijeh Ebrahimi Mohsen Dastgir Zohreh Latifi
  One of the important factors for the success of venture capital markets is, the ability to make timely decisions and take away the feelings. Thus the aim of this study is to examine the third factor of successful capital market analysts or analyst’s personality ch More

  One of the important factors for the success of venture capital markets is, the ability to make timely decisions and take away the feelings. Thus the aim of this study is to examine the third factor of successful capital market analysts or analyst’s personality characteristics. In other words, it is assumed in this study, analysts are specialist in fundamental and technical analysis and then influence their personality characteristics (the third dimension) is evaluated on their performance. Statistical population and the sample of this study consists of capital market analysts. Required data is collected by a combined questionnaire. The research hypotheses are tested using Pearson’s correlation tests. The results show that there is a significant correlation between extraversion features, Agreeableness, Consciousness and personal control to the degree of risk aversion, but no significant relationship was observed between personality characteristics and returns portfolios analysts. In addition, no significant relationship was observed between the type of fundamental analysis and technical analysts and degree of risk aversion. Manuscript profile
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  5 - Prospect Theory use in non-laboratory environment
  Shokrollah Khajavai Mohammad Hallaj Kianoosh Ganji
  Prospect theory first was created in 1979 by Kahneman and Tversky and got considered as the best explanation of risk assessment in laboratory environment. As the first use of the theory in laboratory circumstances, a question comes to mind whether the theory is applicab More

  Prospect theory first was created in 1979 by Kahneman and Tversky and got considered as the best explanation of risk assessment in laboratory environment. As the first use of the theory in laboratory circumstances, a question comes to mind whether the theory is applicable in non-laboratory environment? Thus, this research is going to discuss theory existence and its applicability, exploring real evidence. In this research Prospect theory use in Finance through internal and external review has described and some other areas have referred. Results show that the theory is an applicable one in non-laboratory environment according to studied researches in Finance and other areas. Manuscript profile
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  6 - Portfolio choice with high frequency data: constant relative risk aversion preferences and the liquidity effect
  mohammad firouzdehghan Hadi Saeidi Shaban Mohammadi ghasem elahi
   An investor Constant relative risk aversion. pursues two goals of expected utility increases and reduces expected portfolio liquidity expectations. In the current study, the Constant relative risk aversion. utility using actual portfolio fluctuations, real asymmet More

   An investor Constant relative risk aversion. pursues two goals of expected utility increases and reduces expected portfolio liquidity expectations. In the current study, the Constant relative risk aversion. utility using actual portfolio fluctuations, real asymmetry, real elongation of graphs and non-liquidity The portfolios were measured using the non-liquidity rate. Therefore, it is possible to directly select the options of the investor in the two-dimensional expected utility / liquidity space. This research was analyzed by using high frequency data on a set of 40 shares of Tehran Stock Exchange from 2011 to 2017 using MATLAB software and time retrieval methods were used for daily synchronization of transactions. Considering the expected returns of the portfolio and the expected liquidity over the minimum variance and the same weighted portfolio, the power coverage of this model is examined. The results show that in the different risk-incompatible levels, the expected liquidity of the expected portfolio is highly competitive and seems appropriate in terms of usefulness, liquidity, and expected utility, relative to the benchmark. Manuscript profile