List of Articles JEL Classification: C02

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  1 - Modeling Equity Premium Puzzle by Using Fuzzy Logic: A Number of Evidences from Iran
  Alireza Erfani Solmaz Safari
  This paper is intended to study the equity premium puzzle in basis of Consumption Capital Asset Pricing model in the period 1371-1393 in Iran seasonally. The results confirm the puzzle in the period. Consequently the paper introduces and proposes an experimental and the More

  This paper is intended to study the equity premium puzzle in basis of Consumption Capital Asset Pricing model in the period 1371-1393 in Iran seasonally. The results confirm the puzzle in the period. Consequently the paper introduces and proposes an experimental and theoretical model to explain equity premium through Consumption Capital Asset Pricing model in habits formation model and combination of financial and economy regimes by Fuzzy Logic. Results derived from proposed model showed that equity premium and risk aversion have a counter- cyclical relation with economic regimes; so that in recession regime and reducing market,  consumption news increase relative risk aversion and equity premium. In this regime, the individual prefers to adventure only in lieu of high level of compensation and he or she also intends to allocate the funds into more certain fields such as bank deposits. While consumption news in the period of boom in economy and increasing market, decrease risk aversion and equity premium.  Manuscript profile
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  2 - Modeling and Ranking the Criteria in Providing Favorable Financing for Public Sector by Using MCDM: Case study of Mashhad Metropolis
  rasool ghorbani mitra azimi
  Abstract This study is to use a library and comparative analysis method for ranking the criteria affecting the optimal model in Mashhad municipal finance and then providing a scheme for the model developed. To get the goal, 23 people are selected in Mashhad Municipalit More

  Abstract This study is to use a library and comparative analysis method for ranking the criteria affecting the optimal model in Mashhad municipal finance and then providing a scheme for the model developed. To get the goal, 23 people are selected in Mashhad Municipality officials and economic experts to complete the questionnaire. The data are analyzed based on Analytic Hierarchy Process (AHP) and Expert Choice software. Finally, after weighting and ranking the criteria and decision options, a funding desired pattern is provided for Municipality of Mashhad in three Macro, medial and local levels. The results represent that   renovation tax, building and land tax (except municipal consolidation taxes), value- added tax and the costs of utilities, are respectively the most important policy priorities on the stabilization of municipal revenues. Manuscript profile
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  3 - The effect of value of small-volume transactions on the TEDPIX of Iran
  Reza Fallah-Moghaddam Saman Babaie-Kafaki
  10.30495/fed.2024.709379
  Abstract The value of small-vlume transactions stock (shares + preemptive rights + shares ETF) is obtained by deducting the value of block transactions from the value of total transactions in the Iranian Stock Exchange. This research includes two main parts. Considerin More

  Abstract The value of small-vlume transactions stock (shares + preemptive rights + shares ETF) is obtained by deducting the value of block transactions from the value of total transactions in the Iranian Stock Exchange. This research includes two main parts. Considering the importance of the Black-Scholes price model in financial mathematics, using deep mathematical tools such as nonlinear analysis, stochastic analysis, Ito's lemma and the Radon-Nikodym derivative, a theoretical mathematical result was obtained regarding the Black-Scholes price model. we found Theorem 1 in chapter (4) is actually a deep theoretical mathematical relationship for predicting the price in the future. Also, the results of this theorem were used to investigate the trend of the value of small stock transactions in the Iranian stock market in the future time frames. The second topic we discuss in this article is to investigate the impact of changes in the value of small-vlume transactions stock on Tedpix of the Iranian stock market, using modeling and mathematical tools, including the Black-Scholes model, financial technical analysis tools, statistical methods and the Hurst test. Usually, mathematical and computational tools use stock price data to predict the trend of financial markets. Also, the number of traded shares of a stock company can be an indicator to identify the entry point for buying or the exit point for selling. Considering the extreme price fluctuations in the last few years in the Iranian stock market and the difficulty of setting a ceiling for the price, as well as the existence of processes such as capital increases in company assemblies that change the total number of tradable shares of a company, the importance of using data on the value of small stock transactions It is revealed as a combination of price and number of shares data. In this study, in a period of about seventeen months (in which the most severe fluctuations in the history of the Iranian Stock Exchange occurred), weekly information on the average value small-volume transactions has been examined. The results of this research confirm that with the increase or decrease of the total index of the Iranian stock market, we see a similar trend in the value small-volume transactions. We also showed that the value of small stock trades is trending by using the Hurst test. Manuscript profile