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List of Articles
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Open Access Article
1 - Investigating of the relationship between liquidity and firms’ ownership concentration whit considering moderating role of corporate governance
shokrollah khajavi GholamReza Rezaei Amir SafaieeThe main purpose of this research is to study the relationship between ownership concentration and liquidity for the companies listed on Tehran Stock Exchange (TSE) with considering moderating role of corporate governance. Another Aim was from purpose of this study is t MoreThe main purpose of this research is to study the relationship between ownership concentration and liquidity for the companies listed on Tehran Stock Exchange (TSE) with considering moderating role of corporate governance. Another Aim was from purpose of this study is to extend priorresearch on this topic. to achieve goals, an attempt will be made to answer the following question: “Is there a significant relationship between ownership concentration, corporate governance, and liquidity?” The research population composes of total companies listed in the TSE and statistical sample composes of 145 companies. The regression analysis whit SPSS and Eviews software are used for testing hypothesis of the research. The results suggest that there is a negative relationship between ownership concentration and liquidity. The relationship between corporate governance and liquidity is positive and significance. Also, the results showed that corporate governance have a moderating role in the relationship between ownership concentration and liquidity. Manuscript profile -
Open Access Article
2 - Dentify the factors financial risk management in the automotive industry using the dimatel technique
ali fadaei abotorab alirezaee gholamreza hashemzadeh kiamarc fathiCompanies try to control risk by using risk management and its factors. Risk management is the process of measuring and then designing a strategy for risk management.This research includes four criteria investment risk And market risk and Country risk and liquidity risk MoreCompanies try to control risk by using risk management and its factors. Risk management is the process of measuring and then designing a strategy for risk management.This research includes four criteria investment risk And market risk and Country risk and liquidity risk, each of which has sub-criteria are addressed.Field data through a questionnaire tool And with the benefit of the opinions of experts and experts in the automotive industry has been used.The community of experts consists of 25 experts and Dimatel technique has been used to analyze the data.The results showed that the liquidity risk criterion has the highestImpact and investment risk criteria have the least impact.The following criteria have the highest impact on changing customer preferences .The appropriate market estimation sub-criterion is considered as the most effective sub-criterion.The liquidity risk criterion is in the first place and has the highest priority.Sub-criteria of market demand forecast and Structural changes in the economy and Complex competition in domestic markets is one of the highest priorities. Manuscript profile -
Open Access Article
3 - Analyzing the relationship between the quality of internal control and the amount of unusual cash with emphasis on the role of risk management
Fattaneh Sepahvand seyed hesam vaghfiCompanies may control abnormal operating cash flows by increasing the quality of internal controls, thereby creating favorable outcomes for the entity. Therefore, the present study examines the analysis of the relationship between the quality of internal control over th MoreCompanies may control abnormal operating cash flows by increasing the quality of internal controls, thereby creating favorable outcomes for the entity. Therefore, the present study examines the analysis of the relationship between the quality of internal control over the amount of abnormal cash with an emphasis on the role of risk management. This research is applied in terms of purpose and in terms of correlation methodology is causal (post-event). The statistical population of the study is the companies listed on the Tehran Stock Exchange and using the systematic elimination sampling method, 89 companies were selected as a sample of the research in a period of 9 years between 1390 and 1398. The method used to collect information is a library and the relevant data for measuring variables are collected from the Cadal site and companies' financial statements and performed in preliminary calculations in Excel. The distribution of research data and then the panel data regression method to investigate the relationship between variables. The results of the first hypothesis of the study show that there is an inverse and significant relationship between the quality of internal controls and abnormal cash and the second hypothesis showed that risk management weakens the inverse relationship between the quality of internal controls and abnormal cash. Manuscript profile -
Open Access Article
4 - Study of identifying barriers to the optimal establishment of activity-based pricing systems in listed companies
amirhosein jamali hamideh kamaliThe aim of this study was to investigate and identify the barriers to the optimal establishment of activity-based pricing systems in listed companies. The research method used is exploratory, which is a cross-sectional research in terms of time. A questionnaire was used MoreThe aim of this study was to investigate and identify the barriers to the optimal establishment of activity-based pricing systems in listed companies. The research method used is exploratory, which is a cross-sectional research in terms of time. A questionnaire was used to collect information. The statistical population of this study is all financial managers of companies active in Tehran Stock Exchange. Simple random sampling was used in this study and the sample size was determined using Cochran's formula equal to 241. In this regard, for more validity, 260 questionnaires were distributed among the subjects and out of this number, 242 complete questionnaires were collected. To test the research questions, statistical methods of parametric t-test (one sample) and non-parametric Qp test (intermediate test) were used using SPSS-22 statistical software. The results of statistical analysis of these 242 questionnaires showed that in general it is possible to implement a cost-based costing system in Tehran Stock Exchange companies and this system to make decisions and increase profitability. Companies are profitable. Manuscript profile -
Open Access Article
5 - Analysis and explanation of stock returns based on third and fourth order torques of non-systematic risk and the role of arbitrage constraints and investors' limited attention to it
roqaye talebi Majid Zanjirdar Mohammadreza pour FakharanThe purpose of this study was to investigate the response of stock returns to non-systematic risk torque measurement models. The spatial scope of this research was the companies listed on the Tehran Stock Exchange and the time domain was between 2013and 2020. The presen MoreThe purpose of this study was to investigate the response of stock returns to non-systematic risk torque measurement models. The spatial scope of this research was the companies listed on the Tehran Stock Exchange and the time domain was between 2013and 2020. The present research is in the category of applied research. If the classification of types of research is considered based on the nature and method, the method of the present research is descriptive in terms of nature and is considered as a correlational research in terms of method. Based on the systematic elimination method, 152 companies were selected as a statistical sample. Descriptive and inferential statistics have been used to describe and summarize the collected data. In order to analyze the data, first the variance heterogeneity pre-tests, F-Limer test and Jark-Bra test were used, and then multivariate regression were used to confirm and reject the research hypotheses (EVIEWS software). The results showed the effect of unsystematic risk torques on future stock returns with increasing limited shareholder attention; Arbitrage restrictions as well as the simultaneous interaction between limited shareholder attention and arbitrage restrictions are intensifying; The obtained results eliminate the contradiction of studies and are consistent with the documents mentioned in the theoretical framework of research and financial literature. Manuscript profile -
Open Access Article
6 - winner stock momentum in Iran
Mehdi Elhaei Sahar Rezvan Hejazi Allah Karam Salehi Hossein MoltafetLately, the anomalies in capital markets have severely challenged the efficient hypothesis. The winner stock momentum is one of the anomalies called the unexplained short-term return by Fama and French (1996). The current study attempts for explaining the winner stock m MoreLately, the anomalies in capital markets have severely challenged the efficient hypothesis. The winner stock momentum is one of the anomalies called the unexplained short-term return by Fama and French (1996). The current study attempts for explaining the winner stock momentum in the Iranian capital market. The grounded theory method was used to explain wining stock momentum. To this end, in-depth interviews were held with 32 specialists working in the professional and academic grounds in 2018. The collected data were encoded in three stages, and the results were presented as a conceptual paradigm. Then, to quantify the model by the fuzzy analytic hierarchy process, a pairwise comparison questionnaire was distributed among the specialists. The research results are presented as a qualitative-quantitative model and the story extracted by grounded theory.The study discoveries recognized the momentum causal factors in the behavioral level, the background factors in the social, macroeconomics, and market levels, the intervening factors in the global economics, macroeconomics, market, and company levels, and the strategies in the social, macroeconomics, market, the investment and finances institutions, and consequences factors in market level.The study results propose that the winner stock momentum phenomenon must not be considered a speculation opportunity. Rather, it is an anomaly that has to be controlled with the suggested strategies. Manuscript profile
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