Financial stress

Open Access Article

1 - Explaining the Comprehensive Model of Economic Dimension of Quality of Life and its Relationship with Financial Stress in Iran
Fatemeh Ghaemi Mohammad Hassani mohammadhamed khanmohammadi

The present study examines the economic dimensions of quality of life and its effect on financial stress.  The research method is mixed (qualitative-quantitative). Qualitative data have been collected through Grounded Theory. In-depth interviews with experts have b More

The present study examines the economic dimensions of quality of life and its effect on financial stress.  The research method is mixed (qualitative-quantitative). Qualitative data have been collected through Grounded Theory. In-depth interviews with experts have been conducted with a snowball approach. The results show that the indicators of lack of planning and rapid economic change as the most important causal conditions, physical health, lifestyle and occupation as the most important intervening factors, materialism, stability in society and no change in the work policies of active organizations as a prevailing context, abilities and the structure of community resource distribution as the most important action strategies and the lack of security and the lack of a sense of social justice as the most important consequences are affected the economic dimension of quality of life. Quantitative data were collected in a survey of capital market participants. The results show that with the improvement of quality of life in terms of actions and reactions, prevailing context, consequences and intervening factors, the amount of financial stress among capital market participants will decrease but will increase in terms of causal conditions. Manuscript profile

Open Access Article

2 - The effects of financial stress index on economic growth using linear and nonlinear models (Markov Switching)
M. Ebrahimi Shaghaghi F. Rahnamay Roodposhti M. Ebrahim Maddahi Hashem Nikoomaram Taghi Torabi

The global financial crisis has affected the advanced and developed economies. Iran's economy has been affected, like many other developing countries. In this paper, the effects of financial stress index on economic growth using linear and nonlinear models (Markov Switc More

The global financial crisis has affected the advanced and developed economies. Iran's economy has been affected, like many other developing countries. In this paper, the effects of financial stress index on economic growth using linear and nonlinear models (Markov Switching) has been investigated. In this regard, after the construction of the index, at the beginning defined a production function and the impact of financial stress on economic growth in the rest of the production function variables measured in Linear method. According to the results of financial stress index in the model of the long - term and short – term negative and significant effect on economic growth. The coefficient of this index is 0.02%, which means that with an increase of 1% in the amount of this indicator, the economic growth per capita decreases by 0.20%.So financial stress an obstacle to economic growth and the variables government spending, taxes, and the rate of exchange, which as indications of how to manage the government policies in fiscal, monetary and exchange Optimally utilized. Finally, to test the hypothesis on the nonlinear method of switching Markov model has been used.The results show that, when financial stress is increasing, the effect of uncertainty on financial stress on economic growth is negative Manuscript profile

Open Access Article

3 - Examining the Reaction of Economic Complexities to Financial Stress Impulse, a Case Study of Iran
abolfazl shahabadi ثمینه gh

10.30495/jfksa.2023.23081

By studying financial crises and stress in recent years, especially in Iran, and its rapid spread and transfer to the economy, it can be seen that the effects of financial stress on macro variables in the field of knowledge-based economy have been given less attention. More

By studying financial crises and stress in recent years, especially in Iran, and its rapid spread and transfer to the economy, it can be seen that the effects of financial stress on macro variables in the field of knowledge-based economy have been given less attention. Therefore, the aim of this research is to estimate the response of macro variables related to the field of the knowledge economy (economic complexity index) in the face of financial stress shocks in Iran. In order to achieve this goal, the effects of systemic financial stress shocks on economic complexity and its determinants, including foreign direct investment, are evaluated during the period of 2017-2018 with the help of the Bayesian autoregression approach. The results of the study show It shows that the investigated variables, including economic complexity and foreign direct investment, react negatively to financial stress shocks in the long term, and their reaction is dampened over time. Manuscript profile

Open Access Article

4 - Financial stress and economic dynamic in iran (An Application of the Markov Switch Model and neural networks)
marzieh ebrahimi shaghaghi mohammad ebrahimi maddahi Taghi&amp;acute;&amp;acute;&amp;acute; TORABI

It has a significant negative impact on economic growth.One of the warning signs of the financial crisis is the increasing stress that is occurring in the financial markets, leading to increased uncertainty and instability in the economy. Therefore, the main purpose of More

It has a significant negative impact on economic growth.One of the warning signs of the financial crisis is the increasing stress that is occurring in the financial markets, leading to increased uncertainty and instability in the economy. Therefore, the main purpose of this study is to calculate financial stress index in Iranian financial markets and identify its effects on economic growth.This paper deals with the relationship between financial stress and recession and economic prosperity in three stages. at first, the effect of financial variables on financial stress has been measured by panel data using random data and random effects.Then by constructing a composite index of financial stress uncertainty using Arch & Garch model we are able to investigate the relationship between economic growth and financial stress uncertainty index. In the second the effect of financial stress on economic growth and recession by multilayer perceptron method shows that it is predicted that the economy will continue to be in recession from the year 1397 to the first quarter of 1399 and with the beginning of the second season of 1399 we will see economic prosperity.Finally, the effect of financial stress along with other variables of production function on economic growth were measured using Markov switching self-regression model. Based on the results, the index has a significant negative effect on economic growth in the long run and short run models. Manuscript profile

Open Access Article

5 - Volatility of financial stress index on consumer overflow check indicator, the Producer Price Index and Consumer Price Index, with an emphasis on models GARCH-BEKK, VAR and Granger causality
rohollah rezazadeh hashem nikomaram Mirfeiz Falah Shams

During financial stress, the impact of financial stress shocks on economic activity may be different from what is usually observed at normal times. Therefore, it is appropriate to examine how the effects of the strategic impact on economic activity are investigated duri More

During financial stress, the impact of financial stress shocks on economic activity may be different from what is usually observed at normal times. Therefore, it is appropriate to examine how the effects of the strategic impact on economic activity are investigated during the period of financial instability. In this paper, considering the above discussion, the effect of the deteriorating financial conditions of the Iranian economy and its impact on macroeconomic variables during the years1391 to 1396 has been investigated. For this purpose, in this research, we intend to study the impact of fluctuations of financial stress index fluctuations on consumer price index, producer price index and consumer price index by constructing financial stress index using representatives of different markets. Therefore, using the GARCH two-variable BEKK model and also the VAR model, the effects of shock and fluctuations between them were tested and then the relationship between them was investigated by Granger's causality test. The results indicate that there is a two-way relationship between the financial stress index with the consumer index in the short run, but in the study of the causality relationship between the financial stress index and the price index producing the causality tests and var indicate that the relationship They do not exist between them, but the results of the garch test indicate a meaningful relationship between these two indices Manuscript profile

Open Access Article

6 - The Features of Financial Stress in Iran's Capital Market
Ali Reza Ma'toufi

This study examines the characteristics of Financial Stress identified consistent with the literature research, including Uncertainty about Fundamental Value of Assets, Asymmetry of Information, Decreased Willingness to Hold Risky Assets and Decreased Willingness to Hol More

This study examines the characteristics of Financial Stress identified consistent with the literature research, including Uncertainty about Fundamental Value of Assets, Asymmetry of Information, Decreased Willingness to Hold Risky Assets and Decreased Willingness to Hold Illiquid Assets in four hypotheses. The research method is descriptive and correlational and to analyze the relation between independent and dependent variables, multiple regression statistical methods were used. Then, to test the research hypotheses, using data on firms listed in Tehran Stock Exchange, through the sampling cup, 95 companies were selected as samples. The present results confirm the hypothesis that show all the variables mentioned above are indicators of financial stress in the capital markets in Iran.    Manuscript profile

Open Access Article

7 - Calculation of Financial Stress Index and its Effect on the Return of Investment Funds in Islamic Capital Market: Application of the dynamic least squares co-accumulation method
farjad bakhshor Mohammad Sokhanvar tahereh akhoondzadeh Shahab jahangiri

Objective/main question: In this study, the effects of financial stress events on the returns of investment funds in the shares of the Islamic capital market of Iran during the period of 1390-1400 were investigated using monthly data and the econometric model.Research m More

Objective/main question: In this study, the effects of financial stress events on the returns of investment funds in the shares of the Islamic capital market of Iran during the period of 1390-1400 were investigated using monthly data and the econometric model.Research method: For this purpose, after calculating the financial stress in the studied financial markets (currency, capital and money market), these indicators were combined using the Principal Component Analysis (PCA) Method and the Total Financial Stress Index ( FSI) was Calculated for Iran's Economy. Subsequently, Dynamic Ordinary Least Squares (DOLS) Method was used to investigate the effect of financial stress on mutual investment fund returns in the Islamic capital market.Discussion and conclusion: The research results show that in the estimated model, with an increase of one unit in the financial stress index, the yield of investment funds decreases by 0.02 units.  Manuscript profile

Open Access Article

8 - Evaluating the Effect of Financial Health Indexes from the Aspect of Inhibiting and Opportunistic Behaviors of Income Management in Companies with Different Investment Opportunities
Omid Sabaghiyan Toosi Zahra Moradi Shohreh Yazdani

This research has compared effect of financial health indicators from the perspective of deterrence and opportunism in income management behaviors, based on the analysis of data from 320 companies during the years 2010-2020 using Eviews software in companies with differ More

This research has compared effect of financial health indicators from the perspective of deterrence and opportunism in income management behaviors, based on the analysis of data from 320 companies during the years 2010-2020 using Eviews software in companies with different investment opportunities. To test the hypotheses of the statistical population using the middle of 4 methods MEQLDTA, MB, PPEQGMEQLD and GrowthPPE, and classified into two groups of companies with high and low investment opportunities. Hypotheses tested in OLS and ARMA methods. Then, based on the cumulative analysis of financial health factors, these variables were weighted. The results show that the variables of ROA with weight of (-7), RER with weight of (-4) and LDR with weight of (-3) were respectively effective in playing the role of deterrent from income management motivation. On the other hand, variables of LEV with weight of (+6), DLOSS with weight of (+5) and INDIR with weight of (+4) were respectively recognized as effective factors on the opportunistic behavior of income management in companies with different investment opportunities. In companies with low investment opportunities that are separated by MB method, based on the optimal value of the coefficient of determination and the negative relationship of financial health indicators, it is more likely that this group has high financial health based on the inhibition of income management’s motivation. On the other hand, the findings show that in companies with low investment opportunity separated by the Growthppe method, the opportunistic behavior of income management is more evident. Manuscript profile

Open Access Article

9 - The Effect of Financial Stress on Forecast of Macro Economic Indicators (Evidence from of Iran's Economy)
Marzieh Ebrahimi shaghaghi Hossein Eslami Mofid Abadi

The present study was conducted to investigate and explain the effect of financial stress on the forecast of macroeconomic indicators of the Islamic Republic of Iran in five steps. In the first step, the effect of financial variables on financial stress has been measure More

The present study was conducted to investigate and explain the effect of financial stress on the forecast of macroeconomic indicators of the Islamic Republic of Iran in five steps. In the first step, the effect of financial variables on financial stress has been measured by panel data and random effects. Then, by constructing a composite index of financial stress uncertainty, using the Arch and Garch model, we are able to investigate the relationship between economic growth and financial stress uncertainty index. The study of the impact of financial stress on prosperity and recession using multilayer perceptron method shows that the economy is expected to remain in recession from 2018 until the first quarter of 2020 and with the beginning of the second quarter of 2020 we will see economic prosperity. According to the results, financial stress plays an important role in detecting recession and economic prosperity. The results of research also show that financial stress has a significant negative impact on economic prosperity. Finally, a production function is defined and the effect of financial stress along with other variables of production function on economic growth is measured in a linear and non-linear way. According to the results, financial stress index has a negative and significant effect on economic growth in long and short term models. Manuscript profile

Open Access Article

10 - Factors Affecting the Financial Stress of Stock Exchange Individual Investors and Its Consequences: Meta-Synthesis Technique
Yousef azadian iman dadashi Yosuf taghiporian

Financial stress, both in the financial markets and in society, harms economic growth and social welfare by spreading financial instability and disrupting the functioning of the financial system. meta-synthesis is one of the types of meta- Study methods that using Sando More

Financial stress, both in the financial markets and in society, harms economic growth and social welfare by spreading financial instability and disrupting the functioning of the financial system. meta-synthesis is one of the types of meta- Study methods that using Sandolowski and Barso's seven-step method. Kappa index method and Spss and Maxqda softwares were used to evaluate the reliability and quality control of the qualitative method. The kappa index value was calculated to be %1/95, which is in excellent agreement.The research findings include the conceptual research model and 111 factors affecting the financial stress of individual investors and 26 factors as the consequences of financial stress in the Tehran Stock Exchange. Determining the factors and designing the final research model can improve the understanding of the concept of financial stress and become a suitable tool to help investment trustees and capital market policymakers to build trust and attract potential investors. This study identifies a comprehensive list of factors affecting the financial stress of individual investors in the Tehran Stock Exchange and its consequences and presents the relevant conceptual model.To date, these factors have not been mentioned in Internal and external studies of the capital market and related fields. Manuscript profile

Open Access Article

11 - Designing a financial stress index and testing it in conditions of uncertainty (Case study: Financial market and stock exchange in Iran)
reza ghafari gol afshani mir feiz fallah Mojgan safa hosein jahangirnia

AbstractThe purpose of this study is to design a financial stress index to predict the occurrence of a financial crisis. In this study, a composite index has been designed to measure the Iranian financial system and the effects of financial turmoil in conditions of unce More

AbstractThe purpose of this study is to design a financial stress index to predict the occurrence of a financial crisis. In this study, a composite index has been designed to measure the Iranian financial system and the effects of financial turmoil in conditions of uncertainty in the financial markets and the Tehran Stock Exchange between 2009 and 2021. Since the shocks of variables were used in previous studies, in this study, three factors of currency turbulence, stock market index turmoil, and banking industry turbulence have been used to design and construct the financial stress index. This research is conducted in five steps based on the DCC-GHARCH approach and finally, based on the variables of financial institutions and the stock index, a predictive model for the financial stress index is presented. From the results, we find that all independent variables of the research have a positive and significant effect on the financial stress index, except for the coin price volatility index, which has a negative and significant effect. The value of the model determination coefficient is 0.8736, which indicates that the quality of the fitted model is desirable. Manuscript profile

Open Access Article

12 - The Relationship between Earnings quality and Financial Stress: Evidence from Iran
alireza ma&#039;toufi hasan Valiyan

By changing decision-making criteria and more competitive capital markets, stress and investment pressures for shareholders and investors have increased significantly, and it is necessary to pay more attention to stronger oversight mechanisms to improve the quality leve More

By changing decision-making criteria and more competitive capital markets, stress and investment pressures for shareholders and investors have increased significantly, and it is necessary to pay more attention to stronger oversight mechanisms to improve the quality level of financial statements items It pays attention. This study examines the relationship between Earnings quality and Financial Stress in one hypothesis. The research method is descriptive and correlational and to analyze the relation between independent and dependent variables, multiple regression statistical methods were used. Then, to test the research hypothesis, using data on firms listed in Tehran Stock Exchange, through the sampling cup, 64 companies were selected as samples. The present results confirm the hypothesis that show the significant negative relationship between Earnings quality and financial stress in the capital markets in Iran. Manuscript profile

Open Access Article

13 - Examining the overflow of financial stress index fluctuations on inflation, interest rate, liquidity and industry index using GARCH-BEKK and VAR models and Granger causality
Rohollah Rezazadeh Mirfeiz Falah

During financial stress, the impact of financial stress shocks on economic activity may differ from what is usually observed at normal times. Therefore, it is appropriate to consider the effects of financial stress on economic activity and inflation during the period of More

During financial stress, the impact of financial stress shocks on economic activity may differ from what is usually observed at normal times. Therefore, it is appropriate to consider the effects of financial stress on economic activity and inflation during the period of financial instability. In this paper, hence, the effect of the deterioration of financial conditions of the Iranian economy on macroeconomic variables between 2012  and 2017 has been investigated. For this purpose, in this research, we intend to study the impact of the fluctuations of the financial stress index on inflation, interest rates, liquidity, and industry index by developing the financial stress index using representatives from different markets. Therefore, using the GARCH two-variable BEKK model and also the VAR model, the effects of shocks and fluctuations between them were tested and then the relationship between them was investigated by Granger's causality test. The results indicate that there is a two-way relationship between the financial stress index and inflation, interest rate, and liquidity, but in examining the causality between the financial stress index and the industry index, the results of the causality test indicate that the industry index itself, in the long run, triggers changes in the financial stress index, but the financial stress index has no effect on the industry index. Manuscript profile

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