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Open Access Article
1 - Future Study of Investment in the Housing Industry in Iran Using Scenario Planning Approach and Cross-Impact Matrix
Mohammad Reza Fathi Mohammad Hasan Maleki Vahid Rezvani AslHousing sector is one of the pioneer sectors of every economy that attention to that moreover deep social and cultural influences and making jobs in building sector and dependent sectors, by means of  MoreHousing sector is one of the pioneer sectors of every economy that attention to that moreover deep social and cultural influences and making jobs in building sector and dependent sectors, by means of influence on consuming expenditures and investment, effects strongly on gross domestic product changes and economical fluctuations. Also in recent years, this industry always has faced with splendor and stagnancy. so in this research, housing industry with regard to importance and it`s role in economical development and public welfare, with financial view investigated as Futures study. As identifying effective key factors on investment and future profitability of housing industry are important, this research with using ultra disciplinary of futures study intends to apply recognitional instruments and scenario writing, presents a clear view of future of Iran housing industry to programmers and investors. because of this research is done with general and comprehensive view related to research variables, results of this research can be generalized to housing industry of country. in this research with studying subject literature and interview with experts of housing industry, effective factors on research variables are identified and next, with using cross impact analysis approach, data entered to Mic-mac software and 4 effective key factors on future of investment and profitability are specified including economical sanctions, scale of government investment in housing sector, economical splendor and stagnancy, scale of access to infrastructural networks that are selected among 40 effective factors. in next phase, for writing scenarios, 4 effective key factors with specifying uncertainty states in questionnaire by experts, entered to Scenariowizard software and the most consistent future forthcoming scenarios of housing industry specified . After identifying scenarios and consult experts, economical sanctions and scsle of government investment in housing sector selected for writing scenarios and with regards to their conditions, future of housing industry presented in the form of 4 scenarios. Manuscript profile -
Open Access Article
2 - The Relationship Between Corporate Governance and Finance and Profitability in Tehran Stock Exchange listed Firmes
F. Rahnamaye Roudposhti A. AslaniQuality of controling and directing of firms and their patterns of finance are important discussions incorporate governance in recent years in the world .Ownership is a key element in corporate control andgovernance. Quality of ownership concentration of top stock holde MoreQuality of controling and directing of firms and their patterns of finance are important discussions incorporate governance in recent years in the world .Ownership is a key element in corporate control andgovernance. Quality of ownership concentration of top stock holders affect directly patterns of finance.Implementation of specific financing pattern in southeast Asia led to financial crisis. This thesis surveycontrol structure and patterns of financing of listed firms in Tehran stock exchange .Financial datas areissued by Tehran stock exchange in period 2000-2004 in the formes of balance sheet and income statementand other information are used in this thesis .Ownership concentration is measured by the proportion ofshares owned by top one shareholders. The iranian corporate sector’s owenership concentration iscategorized into three groups based on percentage of ownership (i) 0%-33% (ii) 33%-66% (iii) 66%-100%.By firm size, the corporate sector is divided into large, medium, and small companies, depending on capitals.The relationship bettween ownership concentration and firms size are tested, then their relations withpatterns of financing (retained earning, debting, issuing equities) are tested. The effect of each abovevariables on sale and profitability are tested, too. The conclusions indicated, the most important source offinancing in Iranian firms is debting, with average ratio 0.6, and also stock issue with average ratio 0.3 is thesecond, and retained earning with average ratio 0.1 is the thired patterns of financing in compare with othercountries. Ownership and control of corporations in Iran are highly concentrated, ownership concentration oftop one stockholder in Iranian firms held, on average 50/1 percent of shares, is the highest in compare withother countries. Based on a Regression analysis,there is statistically significant relationship between capitaland profitability, increasing in capital led to high profitability and also reduction in depending on financingin debt and a little increase in issuing equities, in Iranian firms .On the other hand, results show a significantpositive relationship between ownership concentration and financial leverage, as measured by total debt – to-total assets ratios.These are consistent with the hypothesis that companies with more concentratedownership tend to engage in higher debt financing because their controling owners do not want to dilute theircontrol by bringing in new equity holders Manuscript profile -
Open Access Article
3 - Survey of Governmental Effect on Financial Function (Profitability)
P. Saidi J. GhezelseflooThis paper investigates privatization including Return on Assets (ROA), Return on Equity (ROE) andReturn on Sale (ROS) in the Tehran stock exchange. From 1996 to 2004, 29 companies receivedgovernmental share in the private sector. This first sectorincludes two level ces MoreThis paper investigates privatization including Return on Assets (ROA), Return on Equity (ROE) andReturn on Sale (ROS) in the Tehran stock exchange. From 1996 to 2004, 29 companies receivedgovernmental share in the private sector. This first sectorincludes two level cession using a Wilcoxonsinged rank test and regression in the OLS method and second sector three level cession using theFriedman test. The results shows that first sector financial function companies increase, and secondsector do not. Manuscript profile -
Open Access Article
4 - Working Capital Policy and Stock Profitability
Hasham Valipor Zahra Sadat HossinyThe aim of this research is to find out the effect of working capitalmanagement on profitability and stock return. Working capital is one ofthe most important item of the right side of the balance sheet of eachcompany and is equal to the current assets. Working capital MoreThe aim of this research is to find out the effect of working capitalmanagement on profitability and stock return. Working capital is one ofthe most important item of the right side of the balance sheet of eachcompany and is equal to the current assets. Working capital managementis the best compound of the items of working capital that causes thehighest wealth for the company’s shareholders.This research has examined 75 companies of the SEC of the Tehran in aperiod since 1379 to 1386. The method is correlation. For analyzingdata’s, Pierson rate of coefficient and multiline regression and ANOVAanalysis has used.The results have shown that working capital policies have relationwith profitability. Another result have shown that profitability of stockhave direct relation only with working capital policy and don᾿ t haverelation with growth of fixed assets and growth of sales . Manuscript profile -
Open Access Article
5 - Using neural network approach to predict company’s profitability and comparison with decision tree c5 and support vector machine (svm)
Malihe Habibzade Mostafa EzadpourProfit as one of the most important indicators of measuring the performance of the economic unit is one of the important accounting issues that has a high status due to the competitive environment and the importance of quick and proper decision making by managers. There MoreProfit as one of the most important indicators of measuring the performance of the economic unit is one of the important accounting issues that has a high status due to the competitive environment and the importance of quick and proper decision making by managers. Therefore, it is important to analyze the index, factors affecting it and predict profitability. In this regard, the present study was conducted by selecting a sample of 124 observations for the period from 1387 to 1395, based on the basic information of the companies financial statements; the effect of 34 variables on the accuracy of predicting the profitability of the accepted companies by Tehran stock exchange, has been investigated. Tree C5 method was used to determine the significant variables in predicting profitability due to the high ease of understanding of the model. Finally, after determining the effective variables and identifying 8 variables, the accuracy of the predictions was measured using the neural network technique, the C5 decision tree and the backup vector machine (SVM), and the results from these three algorithms were compared. The results of the comparison show that using the c5 decision tree and the 8 variables have the best prediction with accuracy of 93.54%, and then the neural network model is 81.45% more accurate than the supported vector machine (69.35%) and has an error. Manuscript profile -
Open Access Article
6 - بررسی رابطه بین ارزش جاری سهام، سود و ارزش دفتری سهام با تأکید بر نقش سرمایهگذاری در داراییهای سرمایه ای
حسین اعتمادی مسعود سعیدی -
Open Access Article
7 - Investigating the Impact of Accrual Anomaly on Corporate Financing Activities
Reza Mansourian Nader RezaeiThe purpose of this study is to find an appropriate answer to the question of whether the abnormal accruals have an impact on the financing activities of companies accepted to the Tehran Stock Exchange or not? For this purpose, the financial information of 105 active co MoreThe purpose of this study is to find an appropriate answer to the question of whether the abnormal accruals have an impact on the financing activities of companies accepted to the Tehran Stock Exchange or not? For this purpose, the financial information of 105 active companies in the Tehran Stock Exchange for the period of 6 years 2011- 2016 was tested using a combined analytical. In order to investigate the purpose of the research, three main hypotheses were presented separately using multiple regression models. Based on the analysis of the first hypothesis, it was found that anomalies of accruals have a negative and significant relation with the future profitability of the companies under study. The result of the second hypothesis is that there is no significant relationship between accrual accounting anomalies and adjusted returns at error level less than 5%. In the third hypothesis it was stated that anomalies of accruals have a positive and significant correlation with the cash flow from financing activities. These findings indicate the need for more attention from policy makers and market capitalists to the abnormal accruals. Manuscript profile -
Open Access Article
8 - اثر متغیر های نقدینگی، تورم، حفظ سرمایه، تولید ناخالص داخلی بر سود آوری بانک ملت
رویا دارابی علی مولایی -
Open Access Article
9 - Explaining the non-linear relationship between the central bank intervention index and the profitability of commercial banks by considering the credit risk in the country's banking network
azam sadat atyabi Alireza daghighiasli Marjan Damankeshideh منیژه هادی نژاد gholamreza geraeinejadThe purpose of this article is to investigate the non-linear effect of the central bank's intervention index, taking into account credit risk, on the profitability of commercial banks in the country's banking network. For this purpose, the panel model with a threshold a MoreThe purpose of this article is to investigate the non-linear effect of the central bank's intervention index, taking into account credit risk, on the profitability of commercial banks in the country's banking network. For this purpose, the panel model with a threshold approach (PSTR) has been used based on the annual data of banks admitted to the Tehran Stock Exchange during the years 2010 to 2019. Based on the estimation results of the model in the linear part for banks admitted to the stock exchange in the first, second and third models; The growth of banking facilities, the size of the bank and the intervention of the central bank have a significant effect on profitability. Due to the confirmation of the nonlinearity of the model by the test (LM), the analysis of this part of the model has more validity. The estimation results of the non-linear part of the model (second regime) also show the existence of a significant effect of the variables; The growth of banking facilities, bank size, credit risk and central bank intervention in all three models have an effect on banks' profitability. So that for one percent increase in the growth of banking facilities, respectively; The rate of return on assets in the first model is -0.02, the rate of return on equity in the second model is -0.03, and the net interest income in the third model decreases and increases by 0.07. The increase in the intervention of the central bank has also led to a decrease in the profitability of commercial banks. Therefore, it is suggested that commercial banks act through measures such as reviewing and correcting the inhibiting factors and the speed of action in collecting existing receivables in order to reduce non-current receivables, merging the unprofitable bank with the profitable and successful bank, etc. Manuscript profile -
Open Access Article
10 - The role of banking crisis in the effect of income diversity on profitability of banking industry in Iran
Nesa Kamalian Farshid pourshahabi azim nazariIn the last three decades, the Iranian economy has faced many vicissitudes in macroeconomic areas such as the banking industry. Analysis of the dominant condition of Iran’s banking system indicates that although it has not practically resulted in an explicit crisi MoreIn the last three decades, the Iranian economy has faced many vicissitudes in macroeconomic areas such as the banking industry. Analysis of the dominant condition of Iran’s banking system indicates that although it has not practically resulted in an explicit crisis due to the state-owned banks and the central bank's financial support, the Iranian economy has experienced a banking crisis. The main objective of the current study is to examine the role of banking crisis in the effect of Income diversity on Profitability of banking industry using panel econometric method) EGLS .(For this purpose, 8 accepted banks in the Tehran Stock Exchange were evaluated as a research statistical population during 2005-2015. The results show that an increase in the share of Non-interest income in the time of banking crisis has a significant negative effect on return on equity. However, there is a significant positive relationship between the ratio of lending facilities to bank assets and return on equity during times of banking crisis. This means that in times of banking crisis, generating interest income is more efficient for the banks than diversifying their activities and investments. The results also suggest that variables of capital adequacy and efficiency in times of banking crisis have significant positive effect on return on equity, but on the other hand, the degree of bank concentration (Lerner) in times of banking crisis has significant negative effect on return on equity. Manuscript profile -
Open Access Article
11 - Relation Between the Intellectual Capital and firm's leverage in the selected firms on Tehran Stock Exchange
بهمن بنی مهد زهرا قنبری هاThis study examine relation between intellectual capital and firm's capital structure over a 8- period in 69 firms in Tehran Stock Exchange. The measures of a firm's capital structure is debt to asset ratio as a dependent variab MoreThis study examine relation between intellectual capital and firm's capital structure over a 8- period in 69 firms in Tehran Stock Exchange. The measures of a firm's capital structure is debt to asset ratio as a dependent variable. Findings show that intellectual capital have a positive relation with firm's capital structure . Also the evidences indicate that capital structure have a positive relation with firm's size. Meanwhile there are a negative relation between firm's profitability and capital structure. the study advise to firms managements to improve personel performance by training or employing foreign intellectual capital in order to decrease firm's debt. Financial analysts and other users could also use the results of this study and it's model to analysis firms financial structure. Manuscript profile -
Open Access Article
12 - استفاده بهینه از آب در دشت شازند و تاثیر آن بر سودآوری بخش کشاورزی
مجید کارخانه احمد سرلک کامبیز هژبر کیانی -
Open Access Article
13 - Emotional marketing, dynamic capabilities and organizational profitability
Mojtaba Poursalimi anoosh omidiOrganizational profitability in competitive markets is one of the important paradigms in organizational and performance issues that has been widely studied. Organizations that have a good understanding of this topic will be better performing and more profitable. Therefo MoreOrganizational profitability in competitive markets is one of the important paradigms in organizational and performance issues that has been widely studied. Organizations that have a good understanding of this topic will be better performing and more profitable. Therefore, the present study aims to explain the relationship between capabilities Dynamic, Emotional Marketing, Brand Loyalty and Organizational Profitability. In this regard, the required data were collected using the standard questionnaire of the target population of the research (Active Representatives of Pasargad Insurance, Khorasan Razavi, whose number is 261 and based on the table). Morgan the A sample of 152 individuals was selected (collected). The conceptual design of the research was evaluated using structural equation modeling using PLS software and path analysis method. The results showed that emotional marketing through brand loyalty had a positive effect on organizational profitability. Also, the results indicated that the dynamic capabilities of the organization also had a positive impact on organizational profitability. Manuscript profile -
Open Access Article
14 - Assessment of the Effects of Advertising on Increasing Sales and a Mathematical Model for Determination of this Impact on Profitability
A. A. Farhangi A. Ekhlasi P. TolueiAdvertising has a significant impact on raising customer awareness. It is a tool by which customers become acquainted with companies` new and innovative products and services. Despite the importance of this tool in increasing sales, it is not easy to eval MoreAdvertising has a significant impact on raising customer awareness. It is a tool by which customers become acquainted with companies` new and innovative products and services. Despite the importance of this tool in increasing sales, it is not easy to evaluate its effect on sales. One problem confronted by marketing managers is determination of a clear relationship between the effectiveness of advertising and profitability. In this article, considering the relationship between these tools and brand equity, we have attempted to determine the effectiveness of these two factors on profitability. Also, different models for representing the effects of marketing communication tools on company profitability are offered. Finally, using data from a corporation and the numeric values related to each of the elements in the model, we attempt to determine a number representing the magnitude of the effect of advertising and sales promotion on the corporation's revenue. Manuscript profile -
Open Access Article
15 - Assessment of the Effects of Advertising on Increasing Sales and a Mathematical Model for Determination of this Impact on Profitabilit
A. A. Farhangi A. Ekhlasi P. TolueiAdvertising has a significant impact on raising customer awareness. It is a tool by which customers become acquainted with companies` new and innovative products and services. Despite the importance of this tool in increasing sales, it is not easy to eval MoreAdvertising has a significant impact on raising customer awareness. It is a tool by which customers become acquainted with companies` new and innovative products and services. Despite the importance of this tool in increasing sales, it is not easy to evaluate its effect on sales. One problem confronted by marketing managers is determination of a clear relationship between the effectiveness of advertising and profitability. In this article, considering the relationship between these tools and brand equity, we have attempted to determine the effectiveness of these two factors on profitability. Also, different models for representing the effects of marketing communication tools on company profitability are offered. Finally, using data from a corporation and the numeric values related to each of the elements in the model, we attempt to determine a number representing the magnitude of the effect of advertising and sales promotion on the corporation's revenue. Manuscript profile -
Open Access Article
16 - Mining the Retail Banking Customers Characteristics Using Data Mining Techniques
J. Nazemi P. Jafari H. HashemiDeregulation within the banking industry's and unprecedented growth competition in new technologies, every day the importance of keeping current customers and attract new customers are added. This study presents a two-step model to identify characteristics of different MoreDeregulation within the banking industry's and unprecedented growth competition in new technologies, every day the importance of keeping current customers and attract new customers are added. This study presents a two-step model to identify characteristics of different groups of bank customers, based on their profitability. The new criteria introduced to analyze the profitability of each customer. And then, this criterion has been used for clustering customers based on their profitability. Because in k-mean algorithm there is not a general rule for the optimal number of clusters and the number of clusters depend on the problem, therefore firstly with applied by Two-step clustering algorithm determine the optimal number of clusters. In this study, Customers clustering to 3 groups as golden, silver, and bronze customers. Then, by using K-mean algorithm different groups of customers are identified. And with help of Apriori algorithm association rules of each cluster is inference. The result of this exploration, help to banks have better understanding of current and future customer expectations. And through this may be facilitated develop of marketing strategies to attract and retain profitable customers. Manuscript profile -
Open Access Article
17 - Relationship between Intellectual Capital and Firms Performance at Tehran Stock Exchange (TSE)
Hashem Nikoomaram Hoseyn ZarafshanThis research discusses about the relationship between Intellectual capitaland performance of accepted companies in Tehran Stock Exchange (TSE).Here, the measures of performance assessmsnt of net profit, Return onInvestment, Economic Values Added are considered. Indeed, MoreThis research discusses about the relationship between Intellectual capitaland performance of accepted companies in Tehran Stock Exchange (TSE).Here, the measures of performance assessmsnt of net profit, Return onInvestment, Economic Values Added are considered. Indeed, this research canreply to this question. "does the Intellectual capital influence on performance ofStudied companies, or not?" The concept of intellectual capital is trying to usethe avallble knowledge and intangible assets effectivity. Dimentions ofintellectual Capital include three parts: such as human capital structural capitalwich are considered research.From the purpose viewpoint method of this research is applicable and itsexecutive way is descriptive based on corellation that for analysis of hypothesisis used from the panel analytic method and for estimation of parameters ofregresion model is used from the pocied least squares method. For gatheringthe required data, the research are used of audited financial statement ofaccepted companies in Tehran Stock Exechange (TSE).The achieved results of research hypothesis test during 2002 – 2006 showedthat there is a significant relation between intellectual capital and performanceindexes in all of the studied companies and the intellectual capital had affectedon these indexes. Manuscript profile -
Open Access Article
18 - Survey the Relation between Different Segments of Cash Flow Statement and Capital Structure
Farzaneh Heidarpoor Hasan EsmaeiliMain goal of this research is to find out whether between different segmentsof cash flow statement and capital structure in Tehran Exchange Committeeany relationship exists or not?This research is limited to companies which have accepted in TehranExchange Committee in 1 MoreMain goal of this research is to find out whether between different segmentsof cash flow statement and capital structure in Tehran Exchange Committeeany relationship exists or not?This research is limited to companies which have accepted in TehranExchange Committee in 1381-1385 and have increased their capital at leastonce in considered period.In this research by applying formula the volume of sample were determinedthirty five companies.The result of this study shows that there is not relationship between differentsegments of cash flow statement and capital structure in Tehran ExchangeCommittee. Manuscript profile -
Open Access Article
19 - Appraising Accrued & Real-Based earning management to achieve industry Average Profitability
Shima hoseinzadeh Azita JahanshadIn order to materiality of accounting earnings in management compensation and turnover, management performance evaluation this paper helps some papers on relative industry average Profitability as a measure of earnings .This measure is specified out of company and contr MoreIn order to materiality of accounting earnings in management compensation and turnover, management performance evaluation this paper helps some papers on relative industry average Profitability as a measure of earnings .This measure is specified out of company and control. It is a movable goal that depends on profitability of other companies in the same industry. In addition managers are likely to have strong incentives to maintain earnings in desirable level and to achieve industry-average profitability but sometimes manage earnings by accrual & real-based earnings management This research is to measure accrual & real-based earnings management in order to achieve industry average profitability by two hypothesis .After considering the parameters on listed Tehran Stock Exchange, a total of 186 companies were screened and selected. The hypothesis testing method is based on “Panel data method. Due to the result, A direct and significant relationship exists between “achievement of industry profitability average and “accrual & real earnings Management” of the companies. In fact, companies engage accrual & real earnings management to achieve industry profitability Average Manuscript profile -
Open Access Article
20 - Design and Evaluation of Green Behaviors Model and Financial Performance in Yazd City Hotels
Zahra Hoseini zadeh harat Mahmoud moeinadin Forough HeiraniConsidering the importance of green hospitality in the tourism industry perspective, hoteliers need to ensure that the formulation and implementation of environmental strategies, while legitimizing their business activities in the Society, also improves financial MoreConsidering the importance of green hospitality in the tourism industry perspective, hoteliers need to ensure that the formulation and implementation of environmental strategies, while legitimizing their business activities in the Society, also improves financial performance and profitability. In this study, is tried to identify, structure and model using the qualitative approach and Granded theory components and elements of green behaviors and financial performance of hotels and the relationship between them And in the quantitative section, the paradigm model is tested using Structural Equation Modeling. Based on this, 485 initial codes have been Extracted by conducting in-depth and semi-structured interviews with experts in the hotel industry and the university And according to the open, central and selective coding instructions, the data are modeled in the form of 15 sub-categories and 6 main categories And the requirements related to the validity and reliability of qualitative research have been reviewed and approved. In Quantitative section, information has been collected by designing a questionnaire and reviewing and approving the Formal validity, content, structure and reliability of Cronbach's alpha And analyzed using spss24 and lisrel8.8 software. The results showed a positive and significant relationship between environmental context variables (causal) and dimensions of green behaviors (Axial phenomenon); Also, the three components of dimensions of green behaviors, intra-organizational factors (interfering) and relative stability (contextual) with green capabilities (action and reaction) and finally green capabilities have a positive and significant relationship with financial performance. Manuscript profile -
Open Access Article
21 - The Impact of the level of earning management and audit fees an evidence from ISE
فاطمه داروغه حضرتی زهرا پهلوانAudit fees is one of the interesting issues of researchers. Different factors caneffect on audit fees, such as earnings management and board independence. Thefundamental question of this research is, whether there is a relation between earningsmanagement, board independ MoreAudit fees is one of the interesting issues of researchers. Different factors caneffect on audit fees, such as earnings management and board independence. Thefundamental question of this research is, whether there is a relation between earningsmanagement, board independence and audit fees concerning the level of firmprofitability? To this end, the required data were gathered from 57 firms whichaccepted in Tehran Stock Exchange (TSE) from 1382 to 1388. The statistical teqniqueused for examining the hypotheses were multiple regression, one-way ANOVAanalysis. 3 hypotheses were developed to investigate the relation between the level offirm profitability on the relation of earnings management and board independencewith audit fees and comparability of the audit fees in different firms with regard to thelevel of profitability. The results suggest, firms that have higher ratio of outsidedirectors pay lower audit fees. The results also indicate that the higher level ofprofitability, the higher the audit fees. Manuscript profile -
Open Access Article
22 - Surveying the effect of auditor type on the value relevance of earnings in the accepted company in Tehran Stock Exchange
مهدی بهارمقدم زینب یزدی سمیه یزدیthe value relevance is ability accounting items on returns and price stock firms. Thepurpose of this study is to investigate the effect of auditor type on the value relevanceof earnings in accepted companies in Tehran Stock Exchange. For the test ofhypothesis's research Morethe value relevance is ability accounting items on returns and price stock firms. Thepurpose of this study is to investigate the effect of auditor type on the value relevanceof earnings in accepted companies in Tehran Stock Exchange. For the test ofhypothesis's research this the models is defined by value relevance index. The sampleconsists of 68 companies accepted in Stock Exchange of Tehran that they are selectedduring 1381 to 1388. Statistical method used to test hypotheses in this research is"cross sectional". The findings of this study indicate that the earnings figure of firmsaudited by smaller institutions is more relevant so the first hypothesis was rejected.The report of the auditing firms audited by large institutions in comparison with smallinstitutions, their earnings numbers are more relevant, so it is suggested that mostcontrol apply on audit institutions through peer review and corporate governmentexecutive, in order to improve the quality of audit reports. Manuscript profile -
Open Access Article
23 - The examination of effect of earnings persistence and profitability on disclosure level of Corporate Social Responsibility listed in Stock Exchange in Tehran
Pedram Imani Zohreh Hajiha Zahra AmirhosseyniCorporate Social Responsibility (CRS) is sensitive and significant issue in recent years and consider as a major factor in the survival of any organization. The aim of this study is to investigate the relationship the Earning Quality, Profitability and Disclosure Social MoreCorporate Social Responsibility (CRS) is sensitive and significant issue in recent years and consider as a major factor in the survival of any organization. The aim of this study is to investigate the relationship the Earning Quality, Profitability and Disclosure Social Responsibility in listed companies in the Tehran Stock Exchange. To measure earnings qualities, Profitability and Corporate responsibility have been used an American Institute standard known as K.L.M which ranks organizations based on social and environmental standards every year. The study population includes all companies listed on the Stock Exchange in Tehran that after studying and investigating among them have been selected and chosen 100 companies. Sampling done based on Systematic elimination and for all estimates have been used EViews8 software. This study is, Practical Research and has Deductive-inductive approach and Solidarity belongs to regression analysis. Disclosure Social Responsibility consider as a bridge between business units and stakeholders. Hypothesis test results indicate a positive and significant relation of Earning Quality and profitability of companies with Disclosure Social Responsibility. Manuscript profile -
Open Access Article
24 - Dynamic modeling of Sustainable supply chain from the financial perspective: system dynamics approach
fatemeh aminnaseri sina kherdyar hamzehamin tahmasbi Ebrahim ChiraniToday, one of the most important management issues of organizations is the management of their supply chain financial flows, which plays a significant role in the growth of the organization. This issue has necessitated the necessity of paying attention to the sustainabl MoreToday, one of the most important management issues of organizations is the management of their supply chain financial flows, which plays a significant role in the growth of the organization. This issue has necessitated the necessity of paying attention to the sustainable supply chain management system from the financial perspective. The purpose of this study is to design a model for the relationship between the variables affecting the sustainable supply chain system from the financial perspectives and using the system's dynamics. In this research, after identifying the effective variables on the chain, a model was developed to show the dynamics of these variables using the system dynamics method. Validation of the model was carried out using evaluation tests and vsnym software at Pegah Tehran Company as a case study. In the following, scenarios for different modes of the proposed model variables were designed and implemented. The research results show that the designed model increases the supply chain sustainability based on financial factors, which ultimately affects the profitability of the chain. Manuscript profile -
Open Access Article
25 - Evaluation and ranking of factors affecting the profitability of pharmaceutical companies listed on the Tehran Stock Exchange using a hybrid model of fuzzy hierarchical analysis process
Ramin Pourabdolahian tehrani Ghodratallah Talebnia Jahanbakhsh asadniaProfitability and liquidity is one of the important indicators in evaluating the financial performance of companies, which is the end result of all financial plans and decisions of the company. Also, considering the importance of industries such as the pharmaceutical in MoreProfitability and liquidity is one of the important indicators in evaluating the financial performance of companies, which is the end result of all financial plans and decisions of the company. Also, considering the importance of industries such as the pharmaceutical industry that affect the economies of developing countries and the health of society, their financial performance is doubly important. Therefore, the purpose of this study is to evaluate and rank the factors affecting the profitability of pharmaceutical companies using a combined model of fuzzy and Victor hierarchical analysis process. To investigate the issue, based on multivariate regression, data of 18 pharmaceutical companies listed on the Tehran Stock Exchange during the years 1393 to 1398 were collected from Rahavard Novin software, financial statements and the official website of the Tehran Stock Exchange and to test research hypotheses using the analysis process method. Fuzzy hierarchies were weighted and then ranked using the combined model of fuzzy and hierarchical hierarchical analysis process with the help of Super Design version 2 macros. Findings showed that the ratio of profitability and growth of pharmaceutical companies, respectively; The highest importance and liquidity ratio criteria are the least important among pharmaceutical companies. Also, in order to evaluate the overall performance of the companies, the combined hierarchical fuzzy and Victor method was used, in which Alborzdaro, Zahravi and Daroo pharmaceutical companies were ranked first to third, respectively, while Kimidaro and Farabi was at the bottom of the rankings in terms of performance Manuscript profile -
Open Access Article
26 - Investigating the inverse U-shaped relationship between Working Capital Financing and Profitability with emphasis on the role of Firm Size and Financial Leverage using the GMM method
rahim mohammadi mohammadjavad shiekh mohammad seyrani maryam mardanehThe purpose of this study was to investigate the effect of firm size and financial leverage on the relationship between working capital financing and profitability in companies listed on the Tehran Stock Exchange using panel data during the period 2013-18, through the g MoreThe purpose of this study was to investigate the effect of firm size and financial leverage on the relationship between working capital financing and profitability in companies listed on the Tehran Stock Exchange using panel data during the period 2013-18, through the generalized torque method. (GMM). The variables of firm size and financial leverage are moderators whose effect on the relationship between working capital financing as an independent variable and profitability as a dependent variable is studied. The results of the study showed that there is an inverse U-shaped relationship between working capital financing and profitability. Also, the inverse U-shaped relationship between working capital financing and profitability is weaker in firms with small firms than in large firms. Also, the inverse U-shaped relationship between working capital financing and profitability in companies with high financial leverage is weaker than other companies. In other words, the relationship between profitability and financing through working capital is adjusted by the financial leverage and size, and this adjustment goes to a certain extent and is reversed from then on, which is the breaking point. The relation series is U-shaped. Manuscript profile -
Open Access Article
27 - Explain the Effects of Loan Losses and Deposit Costs on the Growth of Bank Profitability
zahra Rahmani Mohammad Ebrahim Mohammad Pourzarandi Muhammad Ali KaramatiThe bank’s real profitability by adsorbing the deposits, payment loans, and making investments may create cash flows different from what has been anticipated for the apportioned budgets. In line with this, the banks must predict cash flows and factors influencing MoreThe bank’s real profitability by adsorbing the deposits, payment loans, and making investments may create cash flows different from what has been anticipated for the apportioned budgets. In line with this, the banks must predict cash flows and factors influencing their profitability. The present study tries to investigate and elucidating the effects of loan repayment losses and deposit costs on the growth in the banks’ profitability.Since there is no model for measuring the loan payment losses and deposit costs, the present study engages in designing and pretesting of models for measuring the loan payment losses and deposit costs based on Iran’s banking; then, the designed models will be used for measuring the loan payment losses and deposit costs. GMM-based multiple-regression is the method used herein along with the financial statements of Sarmayeh Bank as well as central bank’ information for a time span from 2011 to 2019.Corresponding to this research’s results, the loan payment losses and deposit costs are factors influencing the profitability of Sarmayeh Bank. In other words, the increase in the loan payment losses and the deposit costs brings about reductions in the profitability rate of Sarmayeh Bank. Manuscript profile -
Open Access Article
28 - Stock Return And Modigliani–Miller Valuating: Revisiting the Fama and French
Sima Ashouri Mohammadreza RostamiIn the present study,we examined the effect of the expected investment, expected profitability and the book to market ratio on the market expected returns. Fama-French model(2006) was used To calculate the Expected profitability and the expected investment. expected re MoreIn the present study,we examined the effect of the expected investment, expected profitability and the book to market ratio on the market expected returns. Fama-French model(2006) was used To calculate the Expected profitability and the expected investment. expected return, market value and book to market ratio was calculated by conventional methods. with the aim of increasing comparability, the two growth variable number of shares and equity book value growth also has been used separately. study was conducted in two stages regression so that the first stage regressions to estimate the expected investment and profitability expected and second stage regressions also is used to examine the relationships between variables. The results show that there is a significant positive relationship between the expected return and the expected profitability and book to market ratio. The relationship between the expected return and the expected investment is significant negative. The results confirmed all the hypotheses. Manuscript profile -
Open Access Article
29 - Performance Evaluation of risk premium measurement models: q-theory asset pricing model against three factor model of fama and french
Gholamreza kordestani Mozhde GhasemiFinancial scholars have made valuable efforts to measure risk premium. Recently, Chen et al (2010) proposed a three factor model based on market factor, investment factor, and profitability factor for explaining stock return and called it q-theory model. Prior researche MoreFinancial scholars have made valuable efforts to measure risk premium. Recently, Chen et al (2010) proposed a three factor model based on market factor, investment factor, and profitability factor for explaining stock return and called it q-theory model. Prior researches have shown that this model reduces the magnitude of the abnormal returns of a wide range of anomalies. This research examines the performance of new model in explaining the risk premium of the individual stock and portfolio of stock, and compares it with the performance of CAPM and three factor model of Fama and French in stock exchange market. Sample under investigation consist of 72 listed companies for the period of 1386-1391. The results show that risk premium of stocks has a significant relationship with the sensitivity of its returns to investment and profitability factors. Furthermore, q-theory model significantly excel CAPM in explaining risk premium of firm size, book to market value and momentum portfolios. But it significantly excels three factor model of Fama and French just in explaining the risk premium of momentum portfolios. Manuscript profile -
Open Access Article
30 - The impact of family ownership on capital structure on accepted company in TSE(based on agency theory)
Hossein Fakhari Elham FasiheRalationship between the type of ownership and capital structure is such a controversial issue in financial affairs and accounting. also pervasiveness of family ownership in new tangled economies in recent years makes surveys necessary in this respect.accord MoreRalationship between the type of ownership and capital structure is such a controversial issue in financial affairs and accounting. also pervasiveness of family ownership in new tangled economies in recent years makes surveys necessary in this respect.accordingly,this study intends to initially the effects of family owner ship on capital structure of companies accepted in Tehran exchang(based on agency theory). Then factors in fluencing this relation ship is examined.in order to meet the above questions the related data of 22 companies accepted in Tehran exchang over the years 1387-1391 was collected and studied by mixed analysis. Research findings shows that domestic owner ship has positive and meaning ful effect on the accepted firms capital structure inTehran stock Exchange. Also growth and profitability has positivee and meaning ful coordination effect on the relationship between familyownership and capital structure Iran capital market. Manuscript profile -
Open Access Article
31 - Test the effectiveness of internal and external methods of financing on the real total returns of stock
Akbar Bagheri Ali Ramezani Abbas PoursaeedThe purpose of this study is to measuring the the effect of financing approaches on the total real rate of return of the Companies listed in Tehran stock exchange of listed companies in Tehran stock exchange. In this regard, we have tried to test some variables such as, MoreThe purpose of this study is to measuring the the effect of financing approaches on the total real rate of return of the Companies listed in Tehran stock exchange of listed companies in Tehran stock exchange. In this regard, we have tried to test some variables such as, cost of capital, Retained Earning, leverage, Profitability, firm’s Size to measure their impact on total real rate of return. In this study, at the first step there are 43 companies were studied in the field of producing companies and then there 39 companies were examined in the field of petrochemicals in the period from 1390 to 1394. At the next step, data is extracted from the financial statements of companies and then is analyzed by Eviews software and using panel data approach. The results show that research’s variables (incloading: cost of capital, Retained Earning, leverage, Profitability, firm’s Size) have positsve impact firm’s total real rate of return. It can be concluded that the relationship between financing approaches and independent variables. Finally, some recommendations are presented to inform shareholders and investors in this fims on how to use financing approaches. Manuscript profile -
Open Access Article
32 - Test of Five factors Model; Evidence from Tehran Stock Exchange
Maryam Davallou Zohreh GholamiFama and French (2015) with the addition of two more elements - operating profitability and investment - developed their three-factor model and offered a new five-factor model. This study aimed to test the Fama-French five-factor model compared with the three-factor and MoreFama and French (2015) with the addition of two more elements - operating profitability and investment - developed their three-factor model and offered a new five-factor model. This study aimed to test the Fama-French five-factor model compared with the three-factor and four-factor models. For this purpose, a sample of 184 companies listed in Tehran Stock Exchange during the years 1380 to 1393 is examined. For testing the model, Portfolio analysis and test of Gibbons et al (1989) is used. The results of this study revealed that operating profitability and investment are able to explain the return of portfolio. Fama-French five-factor model explains the excess return better than other models in Tehran Stock Exchange. Then four-factor model in different portfolios, depending on the factors made them, have better performance than three-factor models. Manuscript profile -
Open Access Article
33 - The Impact of Agency Costs on Predicting Profitability
M. B. Mohhamadzadeh MoghadamToday's review of the articles shows that the agency cost has been one of the most important fields of studying in accounting.Therefore, the main objective of this study is to evaluate the effect of agency costs on predicting profitability in Tehran Stock Exchange. In t MoreToday's review of the articles shows that the agency cost has been one of the most important fields of studying in accounting.Therefore, the main objective of this study is to evaluate the effect of agency costs on predicting profitability in Tehran Stock Exchange. In this research, the benchmark for agency cost includes earninig management, capital structure, corporate governance mechanism and asset turnover ratio.Regression analysis is used to examine hypotheses of the study. The data set includes 105 companies accepted in Tehran Stock Exchange for the period of2010 to 2016. The results of the hypothesis of this research show that among the criteria for measuring the agency cost, there is a positive and meaningful relationship between institutional ownership and asset turnover ratio with predicting profitability.These findings also showed that there is no significant relationship between capital structure and predicting profitability. Additionally, the relationship between earnings management and predicting profitabilityis meaningfulandnegative.The main reason for this negativerelationship can be the moral hazard resulting from the information asymmetry of earnings management. Manuscript profile -
Open Access Article
34 - The Effect of Corporate Governance, Profitability, and Firm Size on Firm Value with the Intervention of Intellectual Capital
Abdolrasoul Rahmanian Koushkaki Arash BadyabPurpose: The purpose of the present study is to present some evidence about the impact of corporate governance, profitability, and firm size on firm value and also determine the intervening role of intellectual capital in this relationship. Methods: To substantiate the MorePurpose: The purpose of the present study is to present some evidence about the impact of corporate governance, profitability, and firm size on firm value and also determine the intervening role of intellectual capital in this relationship. Methods: To substantiate the research objectives, Tobin’s Q index was used to measure firm value. Also, some other indices such as the size and independence of board of directors as well as the presence of women among them were used as variables of corporate governance. Indices of return on asset, return on equity, and return on sales were used as profitability variables. Firm size variable was also included in the model by the natural logarithm of all assets, sales, and market value. Finally, the efficiency of intellectual, structural, and human capital was used as variables for intellectual capital. By structural equation modeling, the research hypotheses were tested through a sample consisting of 142 companies accepted in Tehran Stock Exchange from 2012 to 2020.Findings: The obtained results indicate that corporate governance had no significant impact on intellectual capital and firm value. Moreover, the effect of profitability on intellectual capital and firm value was confirmed. Firm size also had a significant impact on firm value but its effect on intellectual capital was not confirmed. Finally, the results showed that the intervention of intellectual capital is not acceptable in the impact of corporate governance, profitability, and firm size on firm value.Conclusion: Firm size is a reflection of corporate total assets. It is effective on investors’ expectation of corporate dividends and as a result of increase in demand, the corporations will be able to increase the price of their shares in the market. In corporations under study in this research, physical assets and capital have a basic role to determine firm value and therefore, intellectual capital has been neglected. Suitable corporate governance can facilitate attraction of intellectual capital and since it is a source of knowledge in terms of invisible assets, it can improve firm value, too. Yet, it has a relatively less significant importance compared to physical capital to determine firm size and value. Manuscript profile -
Open Access Article
35 - A Model to Predict the Profitability of Pharmaceutical Companies Using Artificial Neural Network
Ali Habibi Ghaffar TariThe aim of this paper is to develop a model to predict the profitability of pharmaceutical companies using the artificial neural network. The research method was descriptive-modeling and statistical population included all active pharmaceutical companies of the Stock Ex MoreThe aim of this paper is to develop a model to predict the profitability of pharmaceutical companies using the artificial neural network. The research method was descriptive-modeling and statistical population included all active pharmaceutical companies of the Stock Exchange including 21 companies. Due to the limited population, no sampling was performed and the whole community was surveyed. The documents of pharmaceutical companies were used to data collection and artificial neural networks were used for data analysis. The results showed that the best model to predict the profitability of pharmaceutical companies is obtained by considering the variables of working capital to total assets, cumulative profit (loss) to total assets, earnings before interest and taxes to total assets, the market value of equity to the book value of debts, sales to total assets and liquidity. Manuscript profile -
Open Access Article
36 - بررسی تأثیر انحراف از سرمایه در گردش مطلوب بر سودآوری شرکتهای پذیرفته شده در بورس اوراق بهادار تهران )بررسی نمونهای در صنعت خودرو و قطعات(
جمشید صالحی صدقیانی سمانه برزگری صدقیانی -
Open Access Article
37 - تأثیرنسبتهای سودآوری برروی بازار سرمایه درشرکتهای پذیرفته شده دربورس اوراق بهادارتهران
یداله رجائی صبا کنگاور نظری -
Open Access Article
38 - ارزیابی عملکرد و رتبه بندی بانکهای پذیرفته شده در بورس وفرابورس ایران)تکنیک پرامتیمدل غیر جبرانی(
ایمان خسروی پور نگار خسروی پور -
Open Access Article
39 - بررسی رابطه بین تمرکز مالکیت و سطح افشای اختیاری در شرکتهای پذیرفته شده در بورس اوراق بهادار تهران
اکرم عزیزی داریوش جاوید -
Open Access Article
40 - The relationship between the five major factors of the CEO's character and the financial variables
ali taghavi moghaddam abolghasem masehabadi mohamadreza shorvarzi alireza mehrazinOne foundation of corporate success is to have qualified and efficient managers.. Managers’ qualification depends on their behaviors, personality traits, and views rather than on their knowledge and skills. The present research is in the field of applied research MoreOne foundation of corporate success is to have qualified and efficient managers.. Managers’ qualification depends on their behaviors, personality traits, and views rather than on their knowledge and skills. The present research is in the field of applied research and correlation type. The statistical population of this study is all companies accepted in Tehran Stock Exchange in 2015. A systematic elimination method was used to determine the statistical sample and for the selected companies the questionnaire was sent and 52 companies that responded in the statistical sample of this research were placed. Research hypotheses have been obtained by means of structural equation model with partial least squares test (PLS) method. In order to assess personality traits of CEOs, five - element of NEO was used and financial leverage and profitability variable were selected to conduct the study. The results of this study revealed that there was a positive and significant correlation between personality traits of CEOs and financial leverage, and profitability. Among the personality traits, there is a positive and meaningful relationship between the CEO's extraversion with financial leverage and profitableness and there is a negative and significant relationship between the CEO's Conscientiousness and financial leverage. Also, there is a negative and significant relationship between agreeableness and profitability of positive relationship Openness with profitability. Manuscript profile -
Open Access Article
41 - The Relationship Between Financial Capabilities on bankruptcy risk companies Listed in Tehran Stock Exchange
Asgar Pakmaram Diba RaeisiThe aim of this study is to assess the ability of the financial capabilities relationship on bankruptcy risk of companies listed in the Tehran Stock Exchange. In this study, to assess the financial capabilities, the rate of return on assets, return on equity and the com MoreThe aim of this study is to assess the ability of the financial capabilities relationship on bankruptcy risk of companies listed in the Tehran Stock Exchange. In this study, to assess the financial capabilities, the rate of return on assets, return on equity and the company's liquidity standards used .The study also used Zmijewski bankruptcy risk measuring model. In terms of purpose is applicative and in terms of Methodology is correlation from causal after occurrence. Study population are Listed companies in Tehran stock exchange, which using removes systematic sampling, 181companies during 8 years (total1448year-CO) were located in the samples of this study. The period of research included 2006 to 2013. To test formulated hypotheses binary legit regression used. The results show return on assets, return on equity and current ratio and statistically significant negative relation on the risk of bankruptcy. The results also show that the company's size and financial leverage was positive and significant relation on the risk of bankruptcy. Manuscript profile -
Open Access Article
42 - Investigate the Relationship between R&D Costs and Profitability of Companies in Kerman Province Superior Companies
Mehdi Amirzadeh Ahmad Jafarnezhad Alireza Jashireh NezhadIn new developed world, the effect of critical parameter on companies improving has considered properly. one of important subject in companies owner view's is R&D cost. in current critical situation of country and our economic life considering to priorities of econo MoreIn new developed world, the effect of critical parameter on companies improving has considered properly. one of important subject in companies owner view's is R&D cost. in current critical situation of country and our economic life considering to priorities of economical unit’s is very Necessary. According to this subject we are see in the improved countries R&d is one of most important subject’s that has intentioned .unfortunately in our country this subject has Not considered properly and many industries didn't enter in this important Category as much as need. According to primary view we can guess that the relation between parameter of this paper is exist .however doing the scientific action by Governance organization as trade, mine and industry organization and declaring result to the industrial units can be the better way to maturate the industries owner. in this paper the kerman province Superior companies evaluation based on information from,2014 based on 2013 data's .the relation between R&D cost and primer profit has evaluated. Hypothesis test showed the Meaningful relation between R&D cost and companies profitability. Manuscript profile -
Open Access Article
43 - Impact of Strategic Planning on Profitability of Mashhad Food Industry Companies
Parisa Alizadeh Hossein MohammadiAchieving company to desired goals significantly depends on strategic planning of the company. Strategic planning provides a framework for managing future vision. On the other hand, there is a strong correlation between strategic planning and the marginal product of the MoreAchieving company to desired goals significantly depends on strategic planning of the company. Strategic planning provides a framework for managing future vision. On the other hand, there is a strong correlation between strategic planning and the marginal product of the company. Due to the importance of food industry in employment, value added and investment, it seems necessary to review the profitability and factors affecting the existence of strategic planning managers to achieve the goals of this industry. In this study, first, the factors affecting the existence of strategic planning were analyzed using a Probit model and propensity score matching approach. Then, the effect of strategic planning on profitability has been evaluated by estimating average treatment on the treated group. Required data were collected through interviews with 33 marketing managers of Mashhad food industry. A simple random sampling method was used to select the sample size. The results of the Probit model showed that attitude to staff reception, attitude to team participation and job stability of managers have a positive and significant effect on the probability of strategic planning. After matching, the difference in the mean between treatment and control groups was decreased for attitude to staff reception, attitude to team participation, job stability of managers and knowledge of managers about the importance of strategic planning. The results of estimating average treatment on treated group showed that the profitability among the treated group units was 2.5 times greater than those in the control group. Manuscript profile -
Open Access Article
44 - Pattern of customer relationship management strategies in customer journey with a mixed approach(Case Study: Hypermia Chain Stores)
Fatemeh karimvand Neda Soleymani mahmood ElmiToday's organizations need a good understanding of customers and their needs in order to succeed in business. Customer relationship management is an effective tool to obtain, maintain and increase customer satisfaction, as a result of which its implementation will incre MoreToday's organizations need a good understanding of customers and their needs in order to succeed in business. Customer relationship management is an effective tool to obtain, maintain and increase customer satisfaction, as a result of which its implementation will increase customer loyalty to the organization. Stores are organizations that, by the nature of their work, are in great need of customer relationship management processes. In this study, by presenting the optimal model of customer relationship management in hyperemia chain stores with the approach of improving financial status and profitability, the basic and key components have been identified and based on the importance and performance of various CMR components, the optimal program of customer relationship management system has been determined. Is . The results showed that the most important criteria are: 1- Customer orientation 2- Loyalty 3- Needs recognition 4- Mutual understanding 5- Flexibility. The components that achieved the highest score in the indicators are: 1- Providing fast customer service 2- Understanding the needs of key customers through the continuous learning process 3- Existence of accurate customer feedback system and acting on it 4- Flexibility of management and staff for Providing new services 5- Senior managers pay attention to customer relationship management as an essential principle 6- Trying to attract customer loyalty in various ways. Manuscript profile -
Open Access Article
45 - Analysis of Challenges and Opportunities for Foreign Investment in East Azerbaijan Province Based on Social Capital Variable from the Perspective of Economic Sociology
Karim Yazdani Hojagan Hosein Dehgan Talieh KhademiyanThis study aims to investigate the opportunities and challenges of foreign investment in East Azerbaijan province with emphasis on the two business districts of Tabriz and Jolfa. The research method was survey and a questionnaire was used to collect data. The statistica MoreThis study aims to investigate the opportunities and challenges of foreign investment in East Azerbaijan province with emphasis on the two business districts of Tabriz and Jolfa. The research method was survey and a questionnaire was used to collect data. The statistical population was managers of foreign investments and foreign investors in the cities of Tabriz and Jolfa. The sample size was determined using Cochran's formula and 429 people were selected by stratified sampling method. According to the findings, the identified challenges of foreign investment in Tabriz and Jolfa regions included administrative bureaucracy, lack of optimal executive plans, inconsistencies in executive plans, lack of consensus and empathy between officials and lengthy investment process. Foreign investment opportunities included greater profitability, lower production costs, better marketing, better access to workers, and the ability to compete more with the host country's products. Findings showed that there is a significant direct correlation between the variables of social capital with the three dimensions of participation, trust and social cohesion and foreign investment (r = 0.55). Also, the study of the effect of social capital on foreign investment showed that social capital has an effect of 0.46 on foreign investment. Conflict of interest: According to the authors, the article did not have any conflict of interest. Manuscript profile -
Open Access Article
46 - How Situational Factors Affect Consumers’ Buying Behavior: Productivity of Kish Business Centers in Focus
Ehsan Salimpour darioush Jamshidi Alireza RoustaIn this paper, the effect of situational factors on the consumers' buying behavior has been investigated in order to increase the productivity of Kish business centers. This applied exploratory-explanatory research has a mixed (qualitative-quantitative) method design. T MoreIn this paper, the effect of situational factors on the consumers' buying behavior has been investigated in order to increase the productivity of Kish business centers. This applied exploratory-explanatory research has a mixed (qualitative-quantitative) method design. The statistical population in the qualitative part included the managers of Kish business centers and in the quantitative part included the customers of Kish business centers. From the first group, 12 samples were selected through targeted snowball method and from the second group, 117 samples were recruited through simple random sampling procedure. Grounded theory was used to analyze the qualitative data and to analyze the quantitative data structural equation modeling was employed. The findings regarding the qualitative part showed that situational factors affecting the consumers’ behavioral tendencies include: available money, store browsing, social environment, seller attitude, physical characteristics, security and entertainment. It was also found that customers' behavioral tendencies affect their intention to buy. Additionally, it was revealed that marketing factors such as background conditions and management factors as intervening factors affect the customers’ intention to buy and make Kish business centers productive. The analyses of the quantitative data also confirmed the findings of the qualitative part sinc the results of the structural equation modeling showed that situational factors affect behavioral tendencies, behavioral tendencies, marketing and managerial factors affect shopping, and the intention to buy affects productivity. Therefore, it can be said that improving the productivity of Kish business centers is a complex process and is influenced by situational, marketing and managerial factors. Manuscript profile -
Open Access Article
47 - The Impact of Book Value to Market Value Ratio and the Firm Size on the Profitability of the Common Stock in the Active Firms of Sugar Industry Accepted in Tehran Stock Exchange
Freydon Rahnemaye roposhti Hashem Valipour Heydar Mohammadzadeh SalteInvestors drive their cash resources to participate in production only if they are assured that return on investment is high and also their investment risk is low .Thus, investors always look for certain tools for evaluating their stock in securities exchange .This inve MoreInvestors drive their cash resources to participate in production only if they are assured that return on investment is high and also their investment risk is low .Thus, investors always look for certain tools for evaluating their stock in securities exchange .This investigation introduces the relation between BE/ME, firm size and stock profitability in order to use them as tools of stock assessment if there is a relation. The Fama & French model has been used for accomplishing this paper. The research method in this paper is correlation method and the population is the active firms in sugar industry accepted in Tehran Stock Exchange during 1382-1384. The information was gathered through financial reports existing in Tehran exchange stock library, and the correlation test has been used for testing the hypotheses. The research results indicate that there isn’t a significant relation between the book value ratio to market value ratio, and the firm size with stock profitability in active firms in sugar industry accepted in Tehran Stock Exchange. Manuscript profile -
Open Access Article
48 - Investigating the Relationship Between Profitability Ratio, Capital Structure and the Rate of Stock Return
majid bagherzadeh khajeh Asghar FeyziThe main purpose of this study has been to investigate if there is a significant relationship between the profitability ratio, capital structure, and the rate of stock return. To do this, first, a definition of the rate of stock return, profitability ratio, and ratio of MoreThe main purpose of this study has been to investigate if there is a significant relationship between the profitability ratio, capital structure, and the rate of stock return. To do this, first, a definition of the rate of stock return, profitability ratio, and ratio of the company’s capital structure has been provided and then a t-test, f-test and correlation computations have been calculated. The related data have been collected from the concrete companies which have been active in Tehran stock exchange for thee years. The population of this study includes all of the concrete companies which have been accepted in Tehran stock exchange during the mentioned period. After selecting the related companies, we calculated the ratio by conducting a linear and non-linear regression. The results indicate that there is not a significant relationship between the ratio of profitability, capital structure, and the rate of stock return in concrete companies accepted in Tehran stock exchange during the years 1382- 1384. Manuscript profile -
Open Access Article
49 - Identifying and Determining Factors Affecting the Resilience of the Iranian Banking System
Azadeh Afshari Sara Ghobadi Hosein Sharifi RenaniAccording to the emphasis of the Ball Committee, the survival rate of any economy is proportional to the resilience rate of its banks, and, when economic crises occur, the resilience of banks is too important. Then the purpose of this research is to investigate the indi MoreAccording to the emphasis of the Ball Committee, the survival rate of any economy is proportional to the resilience rate of its banks, and, when economic crises occur, the resilience of banks is too important. Then the purpose of this research is to investigate the indicators of the development of the banking sector that can affect the resilience of the Iranian banking system. Therefore, with the help of previous research, some factors were identified and the data were collected for 30 banks and credit institutions during the years 2000 to 2020 in the form of unbalanced panels. After that, the level of resilience was calculated with the help of the Volare index, and the type of relationships was evaluated with the help of the dynamic data panel method. The results showed that among the 18 indicators investigated as factors affecting the resilience of the Iranian banking system, only 9 factors are nonlinearly related to resilience. Resilience variables of the previous period, banking efficiency, the ratio of Interest-Free Income to total income, and the ratio of low-cost resources to total resources, have a direct relationship with resilience, and the indicators of bank size, shareholders' equity to debt, the ratio of loans to free resources, the ratio of the cost of doubtful loans to total expenses and the level of risk tolerance, had an indirect relationship. Also, private or public banks had no significant relationship with resilience. In conclusion, the resilience process of Iranian banks from 2000 to 2020 was drawn. Manuscript profile -
Open Access Article
50 - The non-linear effect of liquidity and debt repayment on banks profitability in Iraq
Kiumars Shahbazi Mohammad Ali Mahdi AbedThis paper seeks to explore the nonlinear association between liquidity indicators and debt repayment capacity in relation to asset returns. For this purpose, the Panel Smooth Transition Regression (PSTR) method was employed to examine the nonlinear impact of liquidity MoreThis paper seeks to explore the nonlinear association between liquidity indicators and debt repayment capacity in relation to asset returns. For this purpose, the Panel Smooth Transition Regression (PSTR) method was employed to examine the nonlinear impact of liquidity indicators (including the ratios of current assets to total deposits, total loans granted to total deposits, and total loans granted to total assets and debt payment capacity indicators (such as the debt ratio and interest coverage ratio) on asset returns from 2011 to 2020. The findings revealed a nonlinear effect of all calculated indicators on asset returns. The magnitude and manner of the independent variables' influence on asset returns varied at different levels, with noticeable distinctions in the effect before and after the threshold value of 1.0586. In light of these results, bank policymakers can strategically select an optimal liquidity level to enhance bank profitability based on asset returns. Manuscript profile -
Open Access Article
51 - Non-Interest Income, Profitability and Risk in Banking Industry
Amir Ali Farhang Abolghasem Esna Ashari Asghar Abolhasani Mohammad Reza Ranjbar Fallah Jahangir BiabaniThe aim of this study is evaluating the effect of non-interest income on the risk and profitability of the banking industry by using systematic GMM during 1384 to 1393. The findings show that the increase of non-interest income results in the increase of profitability a MoreThe aim of this study is evaluating the effect of non-interest income on the risk and profitability of the banking industry by using systematic GMM during 1384 to 1393. The findings show that the increase of non-interest income results in the increase of profitability and the decrease of risk in Iran's banking system and there is a significant positive relationship between the concentration index and bank risk in such a way that the increase of concentration index results in increase of banks' risks. On the base of the research results and current problems of Iran's banking system, paying attention to banks' money making ability through non-interest income can be considered as a major solution. Manuscript profile -
Open Access Article
52 - Study of the Relation between Performance and Rate of Concentration and Innovation in Iran Industries by Using PVAR Regression Models
reza yousefi hajiabad farhad khodadad kashiThe main goal of this paper is to investigate the relation between industry performance, market structure and innovation in Iran manufacturing industries. For this purpose, the performance of 130 different industrial groups will be analyzed and discussed by Panel Vector MoreThe main goal of this paper is to investigate the relation between industry performance, market structure and innovation in Iran manufacturing industries. For this purpose, the performance of 130 different industrial groups will be analyzed and discussed by Panel Vector Auto Regressive Regression (PVAR) and Generalized Model of Moment GMM based on International Standard Industrial Classification (ISIC) during 1996-2010. The findings represent that industry performancehassignificant and stable effects on Market concentration. Also, the results of Impulse-Response Functions indicate that Structure Shocks affect the profitability of Iran manufacturing sector in short run, but market structure is not related to profitability in long run. The study of Variance Decomposition and R&D activities explain most variations in market structure and market Concentration. However, the profitability is affected by concentration and R&D activities. It has most effects on the variations of R&D activities. Manuscript profile -
Open Access Article
53 - The effect of managers' overconfidence on the possibility of financial crises
Ali Nematiabstract :The effect of managers' overconfidence on the possibility of financial crisesIn this study, the relationship between the Managerial overconfidence and Financial distress like lihoood is examined. The research sample consists of 185 firms listed in Tehran Stock Moreabstract :The effect of managers' overconfidence on the possibility of financial crisesIn this study, the relationship between the Managerial overconfidence and Financial distress like lihoood is examined. The research sample consists of 185 firms listed in Tehran Stock Exchange during 1389 to 1393 and in the period studied by systematic elimination method was studied. To review hypothesis of research, logistic regression model was used. The results of this study show that in the period studied, Managerial overconfidence and Financial distress likelihoood and there is a significant positive relationship. In other words, the Managerial overconfidence in firms is increasing the financial distress likelihood. In other words, Managerial overconfidence, increasing the Financial distress likelihoood in the firms. The effect of Managerial overconfidence, on the Financial distress likelihoood is significant at 95 percent confidence level. The results show that the life of the company depends on the ability of company managers and the satisfaction of a wide range of related groups of the companyKeywords: Managerial overconfidence, Financial distress likelihoood, Profitability Ratio, logistic regression Manuscript profile -
Open Access Article
54 - کمپلکس معدنی-سینبیوتیک جدید در جیرههای گاوهای شیرده برای بهبود تولید و ترکیب شیر
آ.اف. گورلوو آ.آی. بلیااِو م.آی. اسلوژنکینا ن.آی. مسولووا ای.ی. زلوبینا آ.وی. راندلین ای.ی. بُندارکووا ب.آ. شرستیوکهدف از این مطالعه بررسی اثر بخشی کمپلکس آزمایشی جدید در جیرههای گاوهای شیرده بود. آزمایشات علمی و اقتصادی در شرایط یک مجموعه صنعتی بزرگ برای تولید شیر از گاوهای نژاد هلشتاین (روسیه) انجام شد. چهار گروه از گاوهای هلشتاین (شکم سوم)، در هر گروه 20 حیوان، برای انجام یک روش Moreهدف از این مطالعه بررسی اثر بخشی کمپلکس آزمایشی جدید در جیرههای گاوهای شیرده بود. آزمایشات علمی و اقتصادی در شرایط یک مجموعه صنعتی بزرگ برای تولید شیر از گاوهای نژاد هلشتاین (روسیه) انجام شد. چهار گروه از گاوهای هلشتاین (شکم سوم)، در هر گروه 20 حیوان، برای انجام یک روش تحقیق مشابه تشکیل شدند. گاوها در گروه کنترل با جیره پایه تغذیه شدند. گاوها در گروههای دیگر با کمپلکس آزمایشگاهی در دزهای متنوع تغذیه شدند. تمام شاخصها توسط روشهای شناخته شده گسترده تعیین شدهاند، از قبیل استخراج، الکتروفورز مویین، کروماتوگرافی، اتدازهگیری تیتر کمی، طیفسنجی جذب اتمی و دیگر روشها. برای سنتز شیر، ارگانیسمهای گاوها در گروههای آزمایشگاهی نیتروژن هضم شده بیشتری را به طور میانگین با 14.85 درصد صرف کردند؛ نیتروژن استخراج شده از بدن گاوها با اوره به طور میانگین کمتر بود با میانگین 4.13 درصد. افزایش در تولید شیر به طور متوسط 3.8 درصد بود. در مقایسه با گروه کنترل، گاوهای گروههای آزمایشی محتوای بیشتری از ماده خشک در شیر با میانگین 0.4 درصد؛ چربی با 0.17 درصد؛ و پروتئین با 0.1 درصد (شامل آلفا-لاکتوآلبومین با 8.31 درصد و بتا-لاکتوگلوبولین با 36.6 درصد). پروتئین شیر در گروههای آزمایشی حاوی اسیدهای آمینه ضروری بیشتری به طور میانگین با 9.83 درصد، و چربی شیر حاوی اسیدهای چرب غیر اشباع با 1.46 درصد بودند. شیر در گروههای آزمایشی برای یک محتوی بالای ویتامینها (به طور متوسط 16.3 درصد، در مقایسه با گروه کنترل) مورد توجه قرار گرفتند، در عمل B2 با 10.8 درصد، B9 با 28.6 درصد و D3 با 8/39 درصد. علاوه بر این، کسر وزنی عناصر کمیاب در شیر افزایشی یافت شد، به معنی دیگر، کلسیم با 17.3 درصد، ید با 36.4 درصد، پتاسیم با 20.6 درصد، منیزیم با 18.5 درصد، منگنز با 66.7 درصد، فسفر با 20.3 درصد و سیلیس با 54.2 درصد. افزایش در تولید شیر گاوها و محتوی چربی بالاتر در شیر امکان سود فروش 1 تن شیر را به طور متوسط 12 درصد و سطح سودآوری تولید را 6.5 درصد افزایش میدهد. مطالعه انجام شده با اطمینان اثبات کرده است که پرمیکس پیشنهاد شده دسترسی خوراک و قابلیت هضم را ارتقاء داده، قابلیت هضم خوراکها و مصرف مؤثر آنها را بهبود داده، هماتولوژی خون را بهبود داده، تولید شیر را افزایش داده و ترکیب شیر را بهبود داده، که منجر به افزایش در سودآوری تولید میشود. Manuscript profile -
Open Access Article
55 - اقتصاد تغذیه جیرههای پایهریزی شده بر اساس فضولات خشک شده در آفتاب طیور به قوچهای در حال رشد
آ.آ. بلواین مطالعه اقتصاد تغذیه فضولات خشک شده را به عنوان مکمل در تغذیه قوچ مورد بررسی قرار داد. روش تحلیل سود خالص و نسبت سود آوری برای آنالیز داده­های جمع­آوری شده استفاده شد. بر اساس نتیجه آنالیز بودجه­ای بالاترین هزینه کل، بالاترین درآمد کل، بالاترین سود خاص و Moreاین مطالعه اقتصاد تغذیه فضولات خشک شده را به عنوان مکمل در تغذیه قوچ مورد بررسی قرار داد. روش تحلیل سود خالص و نسبت سود آوری برای آنالیز داده­های جمع­آوری شده استفاده شد. بر اساس نتیجه آنالیز بودجه­ای بالاترین هزینه کل، بالاترین درآمد کل، بالاترین سود خاص و بالاترین درآمد خالص در مزرعه برای گروه­های تیماری مکمل­شده مشاهده شد. بهترین نسبت هزینه به سود (43/1)، نرخ بازگشت (43/0)، نسبت سود ناخالص (70/0) و نسبت ساختار هزینه (23/0) مشخص کرد که تغذیه فضولات خشک طیور به قوچ­ها یک عمل سودآور است. بنابراین و براساس نتایج این مطالعه مکمل کردن فضولات خشک طیور در سطح 20 درصدی در جیره قوچ برای سودآوری بهینه پیشنهاد می­شود. Manuscript profile -
Open Access Article
56 - مقایسه اثر ویژگی های شرکت بر مدیریت سرمایه در گردش در صنایع پتروشیمی و سیمان در شرکت های پذیرفته شده در بورس اوراق بهادار تهران
عباس طالب بیدختی ثمین خشنود -
Open Access Article
57 - رابطه سودآوری نسبی و بازده سهام در سطح صنعت
فرزین رضایی عاطفه مجیب یزدانی -
Open Access Article
58 - بررسی تاثیر سیاست های پولی بانک مرکزی بر سودآوری بانک های پذیرفته شده در بورس اوراق بهادار تهران طی سالهای 1390 – 1384
محمد حسین رنجبر محمد محبی علی سلیمی -
Open Access Article
59 - Using of Dupont Analysis with Emphasis on Earnings Management and Performance Management in predicting profitability of the insurance industry
Seyed fakhreddin Fakhrhosseini Meysam KavianiOne of the goals of financial reporting is to provide useful information to facilitate decision making. Accounting information system is one of the sources of information provision for users to decide. The use of the Dupont analysis as a tool for measuring performance d MoreOne of the goals of financial reporting is to provide useful information to facilitate decision making. Accounting information system is one of the sources of information provision for users to decide. The use of the Dupont analysis as a tool for measuring performance dates back to the 1920s and its ability to use it to predict profitability is one of the interesting issues of financial management and investment. The present article seeks to answer the question of whether the components of the Dupont ratio, with emphasis on profit and performance management, can be used to predict operating profitability in the insurance industry. So, in order to investigate this, 14 insurance industry companies were selected as systematic sampling method. The data collected during a period of 6 years and between 2015 and 2020 are taken into account that the results of regression analysis show that the marginal changes in earnings at 99% confidence level have a significant effect on future profitability as well as performance management It can affect the profit margin through the margin of profit, and profit management (upward and downward) does not affect the profit margin on future profitability Manuscript profile -
Open Access Article
60 - The Effects of the Number of Branches and its Geographical Distribution on Bank Profitability
اصغر ابوالحسنی رویا آل عمران فرزاد رحیم زاده سیامک شکوهی فردIn this research, the effect of the number of branches and the geographical distribution of bank branches on the profitability of Bank Sepah in Ardebil province has been studied. In this study, data and information related to Sepah Bank in Ardabil province in the period MoreIn this research, the effect of the number of branches and the geographical distribution of bank branches on the profitability of Bank Sepah in Ardebil province has been studied. In this study, data and information related to Sepah Bank in Ardabil province in the period 1371 to 1399 are collected and in the form of time series data and cross-sectional data are estimated in two separate models. The results of the model estimation showed that the geographical distribution of the bank branches affects their profitability and this effect is statistically significant at a significant level of 5%. In other words, the branch operating in high-income areas of the city has a higher profitability compared to the middle and low income regions. The number of Bank Sepah Branches also has a positive effect on bank profitability and this effect is statistically significant at a significant level of 5%. Also the loan to the asset ratio, the size of the bank and the market share of the bank has a positive and significant effect on its profitability. Also, at a significant level of 5%, the number of years of activity of the bank branch has a positive and significant effect on its profitability. Manuscript profile -
Open Access Article
61 - بررسی روشهای تأمین مالی با رشد سود آوری شرکتهای صنایع داروئی در ایران
علی نعمتی مجتبی کریمی رویا وحیدی مولوی -
Open Access Article
62 - بررسی اثر چرخه های اقتصادی بر عملکرد بانک ها در ایران مطالعه موردی بانک ملی ایران (1368-1393)
رافیک نظریان آزاده محرابیان برژانگ مرادی -
Open Access Article
63 - The Impact of Credit Risk on the Banking System's Performance: (PANEL VAR Approach)
علی احمدی حسینعلی احمدی جشفقانی اصغر ابوالحسنی هستیانیIran's banking industry due to the lack of adequate development of capital markets and inefficiencies in the market long-term and short-term financing to undertake major economic activity. Accordingly, lending an important part of the financing operations of any bank a MoreIran's banking industry due to the lack of adequate development of capital markets and inefficiencies in the market long-term and short-term financing to undertake major economic activity. Accordingly, lending an important part of the financing operations of any bank account, but the probability of timely repayment of the loan and facilitates the credit risk in banks and inattention in this regard to adverse results in the performance of the banks, if the amount of risk in the public and private banks also have significant differences, it is also the impact of such risks on the performance of these banks will be different. Given the importance of this study is to evaluate the effect of credit risk on the banking system as well as comparison of public and private Y credit risk in banks during the period 1383-1392 has been discussed. In this regard, the operation panel data regression methods were used. The results showed jolts to the size of a standard deviation leads the credit risk of bank liquidity, return on assets and profitability of banks will be reduced. Based on the results, the long-term role in determining the profitability of banks is credit risk, but liquidity and efficiency in the long run significantly affected Ha bank assets with credit risk. Manuscript profile -
Open Access Article
64 - 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
65 - Prioritizing inefficient criteria of Bank Melli branches in Iran
ali taheri Mahdi ZahedGharavi Hamid AsayeshAbstractIn the field of efficiency and productivity of the banking system, various researches have been conducted and there are different models for investigating the inefficiency of banks. This variation in models is due to the nature of the concept of efficiency, espe MoreAbstractIn the field of efficiency and productivity of the banking system, various researches have been conducted and there are different models for investigating the inefficiency of banks. This variation in models is due to the nature of the concept of efficiency, especially its uncertain boundaries and because of the various conceptualizations of organizational efficiency. Some of the approaches to calculating inefficiency based on banks' objectives are: objective model, system model and inefficiency model. However, researches with a comprehensive view on the inefficiency of bank branches have not been found, in this research, all approaches have been used by experts in bank branches with education and experience. Because applying a single criterion is not suitable for bank branches and there is no single criterion that can provide all the activities of bank branches. Therefore, while identifying the criteria and indicators, they have been sipped with the opinion of banking experts. . This research, based on banking experts' opinions and analysis by fuzzy Delphi method and analytical hierarchy, concluded that the ratio of interest on deposits to the interest of branch payment facilities, assets of branches to income from facilities, deferred demands and past maturity to the total residue of branch facilities, ratio of funds ready to loan to total branch deposits, ratio of total undesirable claims to total branch facilities and liquidity ratio to total assets The branch shows the inefficiency of the branch in order And Melli Bank is looking for the same goals as conventional banks, which include profitability combined with reduced banking risks. Manuscript profile -
Open Access Article
66 - بررسی اثرات متغیرهای خاص بانکی و کلان اقتصادی بر سودآوری بانکها (مقایسه مکاتب نئوکلاسیک و پست کینزین) Investigating the effects of specific banking and macroeconomic variables on the profitability of banks (Comparison of neoclassical and post-Keynesian schools)
سیدرضا خادمی نعمت فلیحی محمد دالمن پور احمد نقی لو -
Open Access Article
67 - Investigating the effect of central bank intervention on the profitability of commercial banks in the country: a mild transfer regression approach
Azam Sadat Atyabi Alireza DagigiASL Gholamreza GaryenjadAbstract In the present study, in the first stage, the central bank's policy intervention index and foreign exchange market pressure were calculated, and then, using gentle transfer regression (STR), the effect of central bank intervention on the profitability of the c MoreAbstract In the present study, in the first stage, the central bank's policy intervention index and foreign exchange market pressure were calculated, and then, using gentle transfer regression (STR), the effect of central bank intervention on the profitability of the country's commercial banks was investigated. According to the model results; In 24 of the 30 years surveyed, the country's economy has faced increasing pressure from the foreign exchange market. In other words, between 1370 and 1399, the central bank's intervention activities eliminated an average of 24% of the foreign exchange market pressure. Also, the results of STR model estimation show the positive effect of economic growth rate variable on bank profitability and the negative effects of central bank intervention, stock return rate, credit risk, inflation rate and interest rate on the profitability of commercial banks. The negative coefficient of the central bank intervention index can indicate that the central bank, in the face of increasing positive deviations in the exchange rate, is pursuing a decline in the growth of its foreign reserves. In other words, with a further increase in the supply of foreign exchange in the market, its value decreases and the exchange rate return to its long-term path. On the other hand, if there is a negative deviation in the exchange rate of the central bank, by increasing the volume of foreign reserves and reducing the supply in the foreign exchange market, it can increase this rate and approach its long-term path, which is in line with existing theories. This is the context. Manuscript profile -
Open Access Article
68 - An Investigation of the Relationship between Profitability and Company Reputations on Corporate Social Responsibility Disclosure in Iran
محبوبه خان احمدی محسن دستگیر سعید علی احمدیThis article aims to investigate the relationship between profitability and corporate reputation to explain the determinants of corporate social responsibility disclosure in Iran. This research has been conducted on companies listed on the Tehran Stock Exchange and base MoreThis article aims to investigate the relationship between profitability and corporate reputation to explain the determinants of corporate social responsibility disclosure in Iran. This research has been conducted on companies listed on the Tehran Stock Exchange and based on the information of 127 companies for 2009-2018. In this paper, a multiple regression model in the form of panel data and fixed effects method has been used. The results showed that the company's profitability is a determining factor in disclosing corporate social responsibility in Iran. According to these findings, more profitable companies employed in the capital had better disclosure of social responsibility. The results showed that the company's reputation had not been a determining factor in disclosing corporate social responsibility in Iran. Well-known companies have received the benefits of performing and broadcasting social activities to the desired extent and have reached perfection in this area. Therefore, they do not see the need to disclose current activities. Manuscript profile -
Open Access Article
69 - بررسی تطبیقی شاخصهای اثربخشی مدیریت در مؤسسه فرهنگی – مطبوعاتی اطلاعات
صدیقه ببران شیدا جعفری خانقاه -
Open Access Article
70 - تاثیر رشد شرکت بر رابطه بین ارزش بازار، ارزش دفتری و سود
عباس افلاطونی -
Open Access Article
71 - رابطه بین کیفیت سود (پراکندگی سود) و بازده سهام
محسن دستگیر احمد گوگرد چیان ستاره آدمیت -
Open Access Article
72 - Factors affecting the capital structure of companies
زهرا Porzamani آزیتا Jahanshad علی Nemati پروین FarhodiCapital structure means finance company on how the company affects the value, the working relationship between capital structure components of the combination of bond and equity finance are the performance results of companies play an important effect. Decisions importa MoreCapital structure means finance company on how the company affects the value, the working relationship between capital structure components of the combination of bond and equity finance are the performance results of companies play an important effect. Decisions important part in efficient capital structure and credit institutions funds with the company and thus will understand capital structure theory can give managers the possibility to optimal capital structure in order to achieve maximum shareholder wealth justified. Therefore, In this research can be related to collateral assets, profitability, risk, and size non-debt tax shield company debt ratios (L3, L2, L1) affiliated companies during the years 1380-1386 stock exchange Tehran has been studied and the results of this research that the pattern of capital structure, function mainly direct inverse function of profitability and risk and company size is available and collateral assets and non-debt tax shield no significant relationship. Manuscript profile -
Open Access Article
73 - Explaining the Pattern of Measuring the Environmental Uncertainty and Its Effect on the Fluctuation of Companies' Financial Characteristics
sadegh yousefnezhad Farzaneh HeydarpoorAbstract Environmental uncertainty refers to the unpredictability and complexity of factors surrounding the company that can affect the company's operations, strategy, and results. Companies must navigate this uncertainty to make informed decisions and effectively adap MoreAbstract Environmental uncertainty refers to the unpredictability and complexity of factors surrounding the company that can affect the company's operations, strategy, and results. Companies must navigate this uncertainty to make informed decisions and effectively adapt to changing circumstances. The main goal of this research is to explain a model for measuring companies' environmental uncertainty from the perspective of theoretical foundations and experimental research. For this purpose, using the statistical method of principal components analysis, among several criteria, a suitable criterion is selected for each component of environmental uncertainty, and in the next step, by weighting each component, the degree of environmental uncertainty of each company is measured. Then the effect of this variable is tested with the fluctuation of financial characteristics of companies. In this regard, the data of 131 companies were extracted, and multivariate regression analysis was used to test the research hypotheses. The obtained results show that with the increase of environmental uncertainty, the fluctuation of profitability, fluctuation of cash and fluctuation of debt cost of companies increases. Because in the conditions of environmental uncertainty, companies face challenges in accurately predicting demand, pricing and future costs, which can affect their profit margins, cash holdings and debt costs. In addition, the increase in environmental uncertainty has no significant relationship with the increase in the fluctuation of stock returns, the fluctuation of financial leverage, and the fluctuation of dividends paid by companies. Manuscript profile -
Open Access Article
74 - The Relevance between Accounting Variables and Stock Return Based on the Stock Returns Model of Zhang
Mohsen Dastgir Neda Taji Rahman SaediIn this research we investigate the relationship between the accounting variables and stock returns based on the equity value model of Zhang. The aim of the paper is to show that stock returns is a function of earning yield, equity capital investment, changes in profita MoreIn this research we investigate the relationship between the accounting variables and stock returns based on the equity value model of Zhang. The aim of the paper is to show that stock returns is a function of earning yield, equity capital investment, changes in profitability, growth opportunities and discount rates. Based on the literature review five hypotheses has been considered and analyzed by simple and multiple regression methods during 2001-2010 in Tehran Stock Exchange (TSE). Empirical results do not confirm the predicted roles of all identified factors. Only there is a direct relation between earning yield and stock returns also there is an inverse relation between changes in discount rates and stock returns. Manuscript profile -
Open Access Article
75 - نقش اقلام تعهدی درسودآوری و سود سهام شرکتها
غلامرضا فرساد امان الهی مهدی معدنچی زاج -
Open Access Article
76 - رتبه بندی میزان تاثیر اقلام کلیدی ترازنامه ای و نسبتهای سودآوری در انتخاب پرتفوی بهینه (با استفاده از تکنیک های داده کاوی)
امیررضا کیقبادی سمیه فتحی سمیرا سیف -
Open Access Article
77 - Ranking of accounting and environmental factors affecting the profitability of commercial banks
Alireza Shahreza Khosro Faghani Makrani Naghi FazeliAbstract The Profitability of commercial banks is a very significant and complex issue that is influenced by the management of intellectual capital and financial capital as accounting factors and also indicators of the banking industry and macroeconomics as environment MoreAbstract The Profitability of commercial banks is a very significant and complex issue that is influenced by the management of intellectual capital and financial capital as accounting factors and also indicators of the banking industry and macroeconomics as environmental factors. The main purpose of this study is to determine the importance and ranking of factors and indicators affecting the profitability of commercial banks, in order to help effective decisions of central bank policymakers and bank managers. The statistical population includes 17 commercial banks active in Tehran Stock Exchange during the years between 2016 to 2021. To achieve the purpose of this study, the Friedman ranking test in SPSS software was used. The results show that financial capital and intellectual capital as accounting factors were more valuable than the indicators of the banking industry and macroeconomics as environmental factors. The ranking of indicators has shown that the variables of bank size, human capital efficiency, ownership concentration and management efficiency are the most important factors, respectively; In contrast, the variables of capital efficiency of innovation, competition, GDP and communication capital efficiency were the least important in the profitability of commercial banks, respectively. Therefore, based on empirical evidence of this study suggests that managers of commercial banks, along with environmental factors, should pay sufficient attention to the management at their disposal resources. In particular, the increase in assets through the attracting deposits and the increase of capital, and the optimal use of human capital have a decisive role in improving profitability. Manuscript profile -
Open Access Article
78 - پیش بینی وضعیت مالی و اقتصادی شرکت ها با استفاده از نسبت های مالی مبتنی بر سودآوری، جریان های نقدی و رشد
زهرا پورزمانی آزیتا جهانشاد شهرام عین قلایی -
Open Access Article
79 - Compare the performance of internal and comparative data analysis, genetic algorithm nonlinear techniques to forecast profitability
زهرا PurzamaniAlthough knowledge about how users of financial statements make decisions is limited, it certainly can be said that a part of decision-making relates to predictability of future profitability. Also, profitability is used as a basis for assessing the efficiency of corpor MoreAlthough knowledge about how users of financial statements make decisions is limited, it certainly can be said that a part of decision-making relates to predictability of future profitability. Also, profitability is used as a basis for assessing the efficiency of corporate managers. This study, with the aim of introducing an appropriate algorithm for predicting the profitability to the decision makers, by the top 24 financial ratios as independent variables, compares the abilities of internal and comparative data analysis in Non-Linear Genetic Algorithm in anticipating the future profitability of companies listed in Tehran Stock Exchange during the years 2002 to 2012. Results of tests indicated that prediction accuracy of internal data analysis in Non-Linear Genetic Algorithm (90.04%) was greater than that of comparative data analysis in Non-Linear Genetic Algorithm (72.85%). Manuscript profile -
Open Access Article
80 - تأثیر راهبرد تنوع بخشی بر سودآوری شرکتها
سید کاظم ابراهیمی علی بهرامی نسب حسین بستانی محمدرضا فخار منش -
Open Access Article
81 - The Relationship between Liquidity Ratios and Profitability and Repayment Ability of Debts
Zohreh Hajiha Fereshteh FeizabadiThe main objective of this study is to examine the relationship between cash conversion cycle(CCC) as a liquidity measure with the profitability and debt ratios in Iranian companies. Researches indicate the decreasing of CCC results in a higher profitability in firms. T MoreThe main objective of this study is to examine the relationship between cash conversion cycle(CCC) as a liquidity measure with the profitability and debt ratios in Iranian companies. Researches indicate the decreasing of CCC results in a higher profitability in firms. The CCC is a powerful performance measure to assess how well a company is managing its working capital. Therefore, the population of this study is firms listed in Tehran stock Exchange during the period of 2006 to 2009. By random sampling, we ed 178 firms as a statistical sample. The hypotheses are examined using panel least squares, analyzing with cross section random and fixed. The results indicate that there is a significant relationship between the CCC and net profit margin; however, there is no relationship with traditional liquidity and leverage ratios. The findings imply that the CCC is a stronger measure for profitability measurement than traditionally liquidity ratios but each liquidity ratios could not measure the ability to repay liabilities. Although, reducing the trend to ray the seller, could damage the firm's credit reputation. Manuscript profile -
Open Access Article
82 - The Investigation of Membership Effect in Business Group on the Firms’ Effective Tax Rate
Ahmad Khodami Pour Meysam amini nia Mohammad Hasan FadaviThe purpose of this study is Investigation of membership effect in business group on the firms’ effective tax rate. The study sample consisted 67 Firms listed in Tehran stock Exchange during the 1381 to 1389 and effective tax rate has been calculated by dividing t MoreThe purpose of this study is Investigation of membership effect in business group on the firms’ effective tax rate. The study sample consisted 67 Firms listed in Tehran stock Exchange during the 1381 to 1389 and effective tax rate has been calculated by dividing the tax expense on profit before tax. For testing the research hypothesizes have been used T-test and Ordinary Least Squares regression(OLS). The result shows that effective tax rate of the group member firms is significantly less than independent firms. Also there isn’t significant relationship between interaction of profitability and group with effective tax rate. In other words, there isn’t significantly difference between positive association profitability before tax and effective tax rate in business group member firms and independent firms. Manuscript profile -
Open Access Article
83 - نسبتهای سودآوری و ویژگیهای مودیان در سیستم حسابرسی مالیات بر ارزشافزوده مبتنی بر ریسک
محمد اسماعیل خباز زاده آزیتا جهانشاد -
Open Access Article
84 - Rating publicly traded companies affiliated to Iran Khodro using TOPSIS model
حسین Karbasi yazdi کیامرث Fathi سمیه Amin zadedNowadays the car industry is referred as one of the strategic indices of the economic development. This industry plays an important role in the economic cycle of each country and is of a special position in the world ̉s financial services. In this research, the research MoreNowadays the car industry is referred as one of the strategic indices of the economic development. This industry plays an important role in the economic cycle of each country and is of a special position in the world ̉s financial services. In this research, the researcher tries to rank the 23 public joint stock subsidiary companies of Iran khodro applying the TOPSIS model, through 3 consecutive years 2006 to 2008.obviously; there exists different ranking indices according to investors' demands and their various standpoints about investment. Since most of the investors look for more profit, a number of profitability indices such as (gross profit to sale ratio, net profit to sale ratio, operating profit to sale ratio, return on assets ratio, return of equity ratio and earning per share (EPS) has been chosen among existing indices as operational variables. The results of this research indicate relocation in the ranking of the under study companies in the time study years. Also the research presents higher ranks for leasing and service companies versus production companies. Manuscript profile -
Open Access Article
85 - the Reason of Different Capital Structure in Iran in Comparison with Asia Pacific Countries
Rassol Naeempoor ALI Nemati Maasomeh AlaviInvestment structure of companies (financial leverage), doubtlessly, has a significant role to make decision for investment. The studies show that there is a relation between investment structure (financial leverage) and other factors such as rate of return of assets, p MoreInvestment structure of companies (financial leverage), doubtlessly, has a significant role to make decision for investment. The studies show that there is a relation between investment structure (financial leverage) and other factors such as rate of return of assets, profit of shares, changes of profit, profit division percent, size of company, and capital market value than value volume of the rights of share holders. The target to consider investment market is to define the structure of financial resources in order to maximize wealth of share holders. Theoretical framework of this research and also other researches is an appropriate database for such this purpose. There is no doubt that there will be a lot of problems in practice because the investment of shareholders is affected by too many factors among which we can mention investment structure (financial leverage).So financial managers of companies pay their attention to the effects of various methods to provide financial resources and evaluate the effect of different financial structures on investment of share holders. The aim of this research is to consider defining factors and the relation between investment structure and above-mentioned factors in the companies which are accepted in Tehran Stock Exchange Market. According to this target, we have ed 88 companies among the statistical society which provide our required data for an 8-year period of research (2002 to 2009). "Compound Regression" method is used to test research theories and "Significant Test Patterns" is done by F and t parameters. Manuscript profile -
Open Access Article
86 - The impact on the quality of earnings bankruptcy prediction using artificial neural network
بیتا Mashikhi H.R GanjiThe Effect of Earnings Quality on Predicting Bankruptcy by Using Artificial Neural Networks Bita Mashayekhi Hamidreza Ganji (Received: 16/Apr/2014; Accepted: 19/Jun/2014) Abstract Predicting of entities’ going- concern assumption in the future periods is an import MoreThe Effect of Earnings Quality on Predicting Bankruptcy by Using Artificial Neural Networks Bita Mashayekhi Hamidreza Ganji (Received: 16/Apr/2014; Accepted: 19/Jun/2014) Abstract Predicting of entities’ going- concern assumption in the future periods is an important element in decision-making process of many investors. So, ing the predictor variables have been discussed as a challenging issue in the literature of bankruptcy prediction that accounting earnings & profitability variables have been at the top of these issues. Therefore earnings quality has been one of the important measures in the decision-making process of investors in field of bankruptcy prediction. This study has attempted to compare the prediction power of profitability variables among high quality and low quality earnings of Tehran Stock Exchange(TSE) companies and examine the effect of earnings quality on the efficiency of profitability variables in predicting the bankruptcy. In a sample of TSE companies, using artificial neural networks we find that the predictive accuracy of artificial neural networks for high quality earnings companies is significantly greater than of firms low quality earnings. Key Words: Profitability, Predictability, Earning Quality, Bankruptcy, Artificial Neural Network. Manuscript profile -
Open Access Article
87 - The Differing Effects of firm Size and Industry on Firm Profitability
Mahnaz Mollanazari Yadollah Nourifard Shaghayagh Ghashghaei AbdiThe aim of this research is study about the different effects of firm size and Industry on firm profitability in Tehran Stock Exchange during 1385 to 1389. The natural logarithm of book value of assets is used as an indicator to measure firm size. Also, the type of indu MoreThe aim of this research is study about the different effects of firm size and Industry on firm profitability in Tehran Stock Exchange during 1385 to 1389. The natural logarithm of book value of assets is used as an indicator to measure firm size. Also, the type of industry, the separation of industries with high fixed costs and low on the stock exceeds the number of industries that were concentrated in the categories above. Furthermore profitability is calculated based on three indicators(net operating assets, return on net operating assets and return on operating assets. ) the Results of hypothesis tests indicates that there is no significant relationship between high fixed costs and profitability of large companies in various industries. there is no significant relationship between low fixed costs and profitability of small companies in various industries. there is no significant relationship between operating liability leverage and profitability indicators(return on net operating assets and return on operating assets) of small and large companies in industries with low fixed costs(chemical products , cement , lime and gypsum , basic metals and other non metallic mineral products). there is a significant negative relationship between operating liability leverage and two profitability indicators(return on net operating assets and return on operating assets) of small and large companies in industries with high fixed costs(Vehicle and parts manufacturing and Pharma). There is a significant positive relationship between operating liability leverage and return on common equity of small companies in industries with low fixed costs. Manuscript profile -
Open Access Article
88 - Factors influencing capital structure of small and medium companies in Iran
M.A Aghaei وحید Ahmadiyan اکبر JahazatashiDeterminants of Capital Structure in Iranian SMEs Firms Mohammadali Aghaee Vahid Ahmadian Akbar JahazAtashi (Received: 18/Apr/2014; Accepted: 20/Jun/2014) Abstract Previous studies suggest that capital structure plays a pivotal role in investment decisions. It is argued MoreDeterminants of Capital Structure in Iranian SMEs Firms Mohammadali Aghaee Vahid Ahmadian Akbar JahazAtashi (Received: 18/Apr/2014; Accepted: 20/Jun/2014) Abstract Previous studies suggest that capital structure plays a pivotal role in investment decisions. It is argued Compared to LSEs, that Small and Medium-Sized Enterprises(SMEs), in Iran face difficulty in Financing and obtaining bank loans, due to “size discrimination” and “ownership discrimination”. This study tests separately the determinants of Small and Medium Enterprise(SME) capital structure for the firms listed in Tehran stock exchange. Applying panel data analysis, our results obtained small companies indicated a significant relationship between the profitability, growth and size of the company as the independent variable and the ratio of total debt as the dependent variable. Also in Iranian medium firms, there is a significant relationship between the profitability, ratio of fixed tangible assets and size of the company with debts of the company. Key Words: Small and Medium Enterprise(SME), Capital Structure, Profitability, Firm Growth, The Effective Tax Rate. Manuscript profile -
Open Access Article
89 - Identify the determinants of investment opportunities regression
Bahman Banimahd متین FarzanehIdentifying Determing Factors in Investing Opportunity on The Basis of Regression Application Bahman Banimahd Matin Farzaneh Nokhandan (Received: 07/Jun/2014; Accepted: 10/Mar/2014) Abstract This essay attempts to analyses effective factors upon investing opportunities MoreIdentifying Determing Factors in Investing Opportunity on The Basis of Regression Application Bahman Banimahd Matin Farzaneh Nokhandan (Received: 07/Jun/2014; Accepted: 10/Mar/2014) Abstract This essay attempts to analyses effective factors upon investing opportunities in The approved companies in Tehran Stock Exchange during seven years 2002- till 2009. consequently this study indicate some factors such as profiting , financial leverage and the firm size and the proportion of the fixed asset to the total asset are effective variables in investing opportunities. The result also show that there is no significant relationship on selling growth and type of company ownership. finally, the most important factor is profiting index element in investing opportunity. Key Words: Investing Opportunity. Profiting Index. Financial Leverage. Firm Size. Manuscript profile -
Open Access Article
90 - شناسایی بهموقع زیانها، احتمال توقف پروژههای شرکت و سودآوری
زهرا امیر حسینی اکرم توانایی فر -
Open Access Article
91 - The Effect of Income Smoothing and Earnings Quality on Financial performance of Firms
zeinab ariamand seyyed abbas ebrahimiProfit smoothing can be seen as a deliberate reduction in profit fluctuations, so that the activities of the company appear to be normal. Managers are making profit smoothing to reduce this volatility. Some experts believe that investors are more willing to invest in sm MoreProfit smoothing can be seen as a deliberate reduction in profit fluctuations, so that the activities of the company appear to be normal. Managers are making profit smoothing to reduce this volatility. Some experts believe that investors are more willing to invest in smoothing companies and are willing to pay more for them. Researchers believe that some of the characteristics of the company influence the motivation of managers to smooth profits. This study attempts to explain the theoretical foundations of the research, the relationship between earnings smoothing and company characteristics such as earnings quality, P/E and ROE and ROTA. Check the securities. In order to investigate the relationship between earnings smoothing and firm characteristics, data related to the period 2010-2017 were collected and analyzed. Logistic regression was used to test the research hypotheses. The results show that companies with higher price to earnings (P/E) ratios have more incentive to report earnings. And companies with higher earnings quality are more motivated to report earnings smoothly. Finally, it was found that larger ROTAs had a greater incentive to report earnings. Manuscript profile -
Open Access Article
92 - A Model for Examining Exchange Rate Shocks Affecting on Profitability in Export-Oriented Production Groups
Hanieh Ghorbani Farhad Hanifi Teimour Mohammadi Gholamreza ZomorodianThe exchange rate affects the economic activity, foreign trade and wealth of economic enterprises. The aim of this study is to explain a model to investigate the effect of exchange rate shocks on the profitability of export-oriented production groups. In this regard, th MoreThe exchange rate affects the economic activity, foreign trade and wealth of economic enterprises. The aim of this study is to explain a model to investigate the effect of exchange rate shocks on the profitability of export-oriented production groups. In this regard, the data on exchange rate, tax, oil revenue, export and profitability were collected for 19 export-oriented production groups from 2008 to 2019. To achieve the research goal, the Panel Vector Autoregressive Model (PANEL VAR) using the generalized method of moments (GMM) was used to analyze the data. The results of the the Impulse Response Function show that the effect of exchange rate volatility, tax and oil revenue on the profitability variable is initially negative, but has a positive effect over time and is neutralized after several periods. But, the export impulse has positive effect on profitability. According to the results of variance decomposition, it can be said that the exchange rate fluctuations have more explanatory power for profitability fluctuations. Manuscript profile -
Open Access Article
93 - Usefulness of Expected Credit Loss of Loan Facility for predicting banks, future profitability
MARYAM ROSTAMI hamidreza kordlouie Gholamhasan Taghi Nataj Malekshah farhad hanifiIn this study the usefulness of expected credit loss of loan facility compared with loss impairment for predicting banks, future profitability was tested. The model of Altamuro and Beatty (2010) and Kanagaretnam et al. (2014) was applied for predicting banks, future pro MoreIn this study the usefulness of expected credit loss of loan facility compared with loss impairment for predicting banks, future profitability was tested. The model of Altamuro and Beatty (2010) and Kanagaretnam et al. (2014) was applied for predicting banks, future profitability and for calculating fair value of loans was applied the model of Tschirhart et al. (2007) and expected credit loss is calculated by fair value of loans. The hypotheses of the study were tested through the panel data gathered from 18 listed banks in Tehran Stock Exchange.The findings of the first hypothesis of the research indicated that with 95% assurance loss impairment has a significant and negative relation with one year-future profitability and expected credit loss has no effect. The findings of the second hypothesis of the research indicated that with 95% assurance both of expected credit loss and loss impairment have a significant and negative relation with two year-future profitability. Also the size of assets has a significant and positive relation with one and two year-future profitability. Manuscript profile -
Open Access Article
94 - بررسی رابطه نسبتهای سودآوری با کارایی درموسسات آموزش عالی غیر دولتی با استفاده از تکنیک تحلیل پوششی داده ها (DEA)
محمد محمودی حسین بدیعی روح اله رضازاده -
Open Access Article
95 - مدلسازی رابطه میان سودآوری و ساختار سرمایه در بورس اوراق بهادار تهران با رویکرد پانل گشتاوری تعمیم یافته
مهدی صادقی شاهدانی کاظم چاوشی حسین محسنی -
Open Access Article
96 - روش چند معیاره (MCDM) برای انتخاب سهام در بورس اوراق بهادار تهران با استفاده از متغیرهای مالی
محمدعلی سوخکیان هاشم ولی پور لیـدا فیـاضـی -
Open Access Article
97 - کاربردالگوریتم ژنتیک خطی و غیر خطی در بهبود قدرت پیشبینی
زهرا پورزمانی -
Open Access Article
98 - Examining the Effective Factors on Commercial Bank Profitability of Iran Using Panel ARDL Method
Iraj Shariatzadeh Mehdi Shabanzadeh Gholamreza ZomorodianIn any economic system the role of banks to collect deposits of the banking system (Procurement of resource) and its application in the financing of investment projects (allocation of resource) is very important. Nowadays, Expansion of global markets and increase compet MoreIn any economic system the role of banks to collect deposits of the banking system (Procurement of resource) and its application in the financing of investment projects (allocation of resource) is very important. Nowadays, Expansion of global markets and increase competition in the markets for financial services is affected the profitability of the banking industry, significantly. Given that the profitability of banks is one of functions of banks and a more profitable bank has more power to deal with negative shocks to the market, Therefore, attention to the profitability index as one indicator of evaluating the performance of the banks and its role in decisions related to the mobilization of resources, financing and resource allocation is essential. in this study To achieve this goal, the affective factors on profitability of commercial banks has been modeled and studied during 2009-2013. The scope of this study contains 8 commercial banks listed on Tehran Stock Exchange including Eghtesade Novin, Parsian, Karafarin, Pasargad, Mellat, Tejarat, Saderat and Sina. The study also is used the Panel ARDL method to achieve the targets. The results of this study showed that, The ratio of shareholders' equity to assets, The ratio of credit to assets, bank size and inflation have a direct and positive effect on the profitability of commercial banks. So, increasing and improvement of this variables increase the profitability of commercial banks in the short term and long term. However, the effect of credit risk on commercial bank's profitability index is negative. So that increasing of this variable deacrease the profitability of commercial banks in the short term and long term. finally, The results of ECM model reveal that the speed of adjustment towards long-run equilibrium is low, So that if the shock enters the model the long time require for correct the short-run and long-run imbalance equilibrium and back model to first equilibrium. Manuscript profile -
Open Access Article
99 - استنتاج پارامترهای تاثیرگذار در شاخص سودآوری پروژههای سرمایهگذاری ریسکپذیر صنعتی و معدنی با استفاده از تحلیل
حسین بدیعی احمد امامی رئوف غلامی مهیار یوسفی -
Open Access Article
100 - مقایسه تولید و سودآوری برداشت کلی و جزئی در استخرهای پرورش میگوی سفید غربی (Litopenaeus vannamei) در سایت پرورش میگوی خلیج فارس (بندرمقام)
فرناز رفیعی آریا اشجع اردلان نکیسا اصغربیگی عبدالله اسماعیل زاده -
Open Access Article
101 - Developing a Model of Factors Affecting the Profitability of the Banking Industry Based on Structural-Interpretive Modeling (Case Study: Tejarat Bank of East Azarbaijan Province)
Shapour rahmani Soleyman Iranzadeh Yaqhoub Alavi MatinRecent turmoil in the global financial system has highlighted the importance of a well-performing financial system for economic growth. A healthy and profitable banking industry can better withstand negative shocks and help stabilize the financial system. Accordingly, t MoreRecent turmoil in the global financial system has highlighted the importance of a well-performing financial system for economic growth. A healthy and profitable banking industry can better withstand negative shocks and help stabilize the financial system. Accordingly, the purpose of this study was to develop a model of factors affecting the profitability of the banking industry based on structural-interpretive modeling in Tejarat Bank of East Azerbaijan Province. This research was based on the purpose of applied-developmental research. The statistical population of the study was divided into two sections: managers and heads of branches of Tejarat Bank of East Azerbaijan Province and research experts to determine the pattern of relationships between factors affecting profitability. Two questionnaires were used to collect data, the validity and reliability of which were assessed based on the construct validity and Cronbach's alpha coefficient. In order to analyze the data, confirmatory factor analysis and structural-interpretive modeling have been used. Findings show that the factors affecting profitability can be classified into twelve indicators and three main components. Also, the results of structural-interpretive modeling show that for the profitability of Iranian banks, primarily government factors are important, followed by economic factors and finally the specific characteristics of the bank Manuscript profile -
Open Access Article
102 - Investigation and Identification of Components Affecting Sustainable Supply Chain from a Financial Perspective Using Soft Systems Methodology(SSM): Case Study Pegah Gilan Dairy Company
fatemeh aminnaseri sina kherdyar hamzehamin tahmasbi ebrahim chiraniNowadays, organizations need to formulate strategic management plans for their presence in the big field of competition. One of the most important of these is sustainable supply chain management and the financial challenges in this chain. Also, supply chain management h MoreNowadays, organizations need to formulate strategic management plans for their presence in the big field of competition. One of the most important of these is sustainable supply chain management and the financial challenges in this chain. Also, supply chain management has become a complex and unstructured issue and has various stakeholders involved. Therefore, in the present study, the purpose is to identify the effective components on the sustainable supply chain from the financial point of view using soft systems methodology at Pegah Gilan Dairy Company as a case study. In this way, using the aforementioned approach, the problem of unstructured sustainable supply chain management from the financial point of view is expressed, and then by analyzing it, the image of different players of the drawing system and their root definition is raised. In the following, a conceptual model of activities is presented using the root definition and then the model is compared with the real world. Finally, the desired changes to improve and develop the actual system are identified and programs implemented to improve the performance and increase the profitability of the supply chain management system. Also, based on the results of research, financial, monetary, sustainability and risk are the four main components affecting sustainable supply chain. The results of this study will be effective for designing patterns of improvement in sustainable supply chain and strategic decisions of the organization. Manuscript profile -
Open Access Article
103 - Investigating and Prioritizing the Key Indicators of Ticket Sales for Major Sporting Events in Iran
leila zakeyzade mohammadali safanejad reza nikbakhsh salahdyen naghshnandi mohsen baghryanTicket sales are one of the most effective ways to provide resources for sports clubs. Ticket sales are also one of the most lucrative industries in the country. This study was conducted to review and prioritize key indicators of ticket sales for major sporting events i MoreTicket sales are one of the most effective ways to provide resources for sports clubs. Ticket sales are also one of the most lucrative industries in the country. This study was conducted to review and prioritize key indicators of ticket sales for major sporting events in Iran. The present study is mixed.In the qualitative part, the data-based theory was used and MAXQDA software was used for content analysis. A total of 11 experts were purposefully selected to collect information. According to Mueller's rule of thumb, 370 people were considered within a confirmatory factor analysis using SPSS and AMOS software, and the AHP method was used to prioritize the factors. Based on the components of the paradigm model, 8 causal factors, 4 underlying factors, 7 intervening factors, 8 strategic factors are identified and cross-sectional consequences such as revenue and profitability; And long-term, such as creating social demand and increasing the number of spectators, attracting sponsors and securing income. In causal conditions, technology factor with relative weight (0.169), in background conditions, the factor of using standard gates with relative weight (0.279), in intervention conditions, the factor of coordination with relative weight (0.177), in strategies, culture factor with weight Relative (0.161) and the outcomes, cross-sectional outcomes with relative weight (0.562) were in the priority. Manuscript profile -
Open Access Article
104 - Investigating the impact of investment behavior in Iran's capital market during the Covid-19 pandemic
Mohammad baghr Khalgi سعید حسین پورThe purpose of this study is to determine the impact of investment behavior on financial markets during the covid-19 in companies listed on the Tehran Stock Exchange. The current research is descriptive, quantitative and applied, and the data was collected using a quest MoreThe purpose of this study is to determine the impact of investment behavior on financial markets during the covid-19 in companies listed on the Tehran Stock Exchange. The current research is descriptive, quantitative and applied, and the data was collected using a questionnaire from 120 investors in the Tehran stock market. The findings showed that the perception of risk, satisfaction and profitability rate have an effect on financial risk and general risk in relation to tolerance in the stock market. Also, the uncertainty of covid-19 moderates the relationship between risk perception and financial risk and the perception of risk and public risk relative to tolerance in the stock market, and similarly, the uncertainty of covid-19 moderates the relationship between satisfaction and financial risk and satisfaction and risk. The public adjusts the tolerance in the stock market. As financial institutions and the government take actions that indicate a reduction in financial risk, such as a reduction in investors and wealth. However, the world economy is mostly affected by Covid-19, while the financial markets are also affected. Manuscript profile -
Open Access Article
105 - Explaining the model of compensation system for municipal employees' organizational services with a combined approach (Study case: Zahedan Municipality)
Aref Noti zehi Mehdi Bagheri Serajojloldin MohebiEmployee compensation system is one of the effective strategies of organizations in order to achieve their goals and increase the efficiency of their employees. The purpose of this research was to design the model of compensation system for employees and also the feasib MoreEmployee compensation system is one of the effective strategies of organizations in order to achieve their goals and increase the efficiency of their employees. The purpose of this research was to design the model of compensation system for employees and also the feasibility model and effective establishment of compensation system for municipal employees. The researchmethod is a mixed approach, first it is analyzed quantitatively with pls software and then qualitatively with meta-composite and Delphi methods. In the meta-combination method, the necessary data was collected by interview and in the quantitative method by using a questionnaire. Findings and Conclusion: The findings of the research showed that the effective factors on the phased establishment of the employee compensation system were identified in three dimensions, 29 components and 123 indicators using exploratory analysis. Structural factors include infrastructure, enablers and institutions, strategy and strategy, process, upstream documents, knowledge management, communication, organizational structure and facilities of institutions. Background factors include human factors, expertise and skill, knowledge level, gender, technology acceptance, technology compatibility, technology complexity, age, income, electronic identity. Content factors include technology, economic-financial, political-administrative, social-cultural, legal- Regulations, e-government, network governance, location, hardware and software. The indicators considered for the sub-set of structural, content and contextual dimensions of telemedicine have had a meaningful explanatory effect. The ranking of factors showed that structural factors with a weight of 0.477 have the highest priority, then background factors with a weight of 0.366 and content factors with a weight of 0.157 have the greatest impact on the phased establishment of the employee compensation system. Manuscript profile -
Open Access Article
106 - operational and credit risk model on planning management and efficiency of banks admitted to the stock exchange
Seyed Siavash Abolghasemi , Seyed Ali , Nabavi Chashmi Erfan Memarian Mohammad TaghipourIn the current research, the model of operational and credit risk on planning management and efficiency of banks admitted to the stock exchange was investigated. The present method is among descriptive and applied research. From the 318 active banks in the Tehran Stock MoreIn the current research, the model of operational and credit risk on planning management and efficiency of banks admitted to the stock exchange was investigated. The present method is among descriptive and applied research. From the 318 active banks in the Tehran Stock Exchange that were present in the years 1386 to 1398, according to the limitations, 108 banks were selected as a sample. To determine whether statistically the variance of the errors is significantly dependent on time or not. LM test was used. In order to calculate and prepare the research variables, as well as to extract the descriptive statistics of the main research variables, Excel software was used, and SPSS and GARCH statistical software were used to estimate the regression models and test the hypotheses. The results of the research showed that all research hypotheses were confirmed, in other words, credit growth and profitability and capital-to-asset ratio are significant on the stock returns of banks admitted to the Tehran Stock Exchange. Manuscript profile
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