Future study Management: 4 (66)

Open Access Article

1 - Comparing dividend discount model with residual income model
R. Shabahang علی Rouhi

One of the most important function of stock markets is stock pricing Dividend discount model(DDM) is a very traditional model to calculate stick prices. According to this model stock price isequal with present value of all of futures cash flows that will be generated fr More

One of the most important function of stock markets is stock pricing Dividend discount model(DDM) is a very traditional model to calculate stick prices. According to this model stock price isequal with present value of all of futures cash flows that will be generated from stock (dividend andsale price). In contrast, according to Residual Income Model (RIM) stick price is equal with sum ofbook value and present value of future residual incomes.Residual income model caused to create a very strong relation between accounting, finance andeconomic concepts, because it uses residual income and it is equal with:Net income- (required rate of return * book value of stock). Residual income named goodwill oreconomic profit. To calculating required rate of return we use CAPM (capital assets pricing model).Thus we will have Risk and Return together. When we explain residual income we are speakingabout “creation of wealth” , and when we explain about dividend discount model we are speakingabout “distribution of wealth”, with this matter our hypotheses is:“Creation of wealth approach is more suitable to calculate stock price on comparing withdistribution of wealth approach”.Analyzing data with using regression models indicated:RIM is more accurate to analyze and prediction of stock prices on comparing with DDM. Manuscript profile

Open Access Article

2 - ندارد
حسین A.Tabizi محمود Alborzi احمد Vedadi

Manuscript profile

Open Access Article

3 - Designing a mathematical qualification matrix model to assign individuals to jobs optimally
S. Khanmohammadi A. Hajiha J. Jassbi

For long assigning the right person to the right job has been out in management sciences. In thisregard, studies conducted in various fields of human resources have proposed training as a suitablesolution to match the two mentioned elements. However the definition of tr More

For long assigning the right person to the right job has been out in management sciences. In thisregard, studies conducted in various fields of human resources have proposed training as a suitablesolution to match the two mentioned elements. However the definition of training requirements haspaid less attention to the content of the job and the capacities of the employee while majororganizational trainings have been prefabricated.This article proposes a mathematical model called qualification matrix which has been designedto evaluate the match between job and employee. First, the knowledge required for any job andevaluation of the knowledge the individuals possess, are determined, then the match between thetwo will be determined using the designed mathematical model. The results derived from this modelnot only make it possible to design a suitable training system to assign the right person to the rightjob, but using the same in other organizational systems such as determining the employees’ career,evaluating the performance, compensating for services, determining the qualifications to obtain thejob, and other human resources systems of the organization, will also be possible.In designing this mathematical model, the linear assignment technique has been used and a casestudy has been conducted on a portion of information elicited from a company rendering after-salesservices. Manuscript profile

Open Access Article

4 - The effective determinants of exchange rates in Iran
M. Sharif Azadeh Ali Haghighat

The purpose of this paper is the investigation of the (nominal and real) exchange rates determinantsin Iranian economy. After investigate and determine the effective factors of the exchange rates , byusing of time series data –1340 to 1379 - , the proposed models More

The purpose of this paper is the investigation of the (nominal and real) exchange rates determinantsin Iranian economy. After investigate and determine the effective factors of the exchange rates , byusing of time series data –1340 to 1379 - , the proposed models are estimated by traditionaleconometrics methods and the new approaches in econometrics –AEG,DW and Johansencointegration techniques. For this aims , we study and analysis the following subjects:1) The effect of money growth rate, interest rates and GDP on the exchange rate in Iran – test ofmonetarists theory in Iranian economy.2) The effect of other variables – such as : government expenditures , budget deficit, price of oil,investment, inflation, openness , productivity, terms of trade, the price of gold and the populationgrowth rate- on the exchange rates in Iranian economy.3)The test of PPP theory in Iranian economy.Finally, we offer the conclusions, and some implications will recommended. Manuscript profile

Open Access Article

5 - The evaluation of relationship between customer value and customer relationship management performance
K. Heidarzadeh A. Zendehdel Ali Hossin Soltani

Current studies (2004) show a potential challenge between customer management relationship(CRM) and customer value in achieving superior performance. In fact one of the main obstacles inassessing the performance of CRM is not knowing "factors which create superior custo More

Current studies (2004) show a potential challenge between customer management relationship(CRM) and customer value in achieving superior performance. In fact one of the main obstacles inassessing the performance of CRM is not knowing "factors which create superior customer valueand process of offering this value to customers." The focus of this study is on "the effects ofdimensions of customer value on tangible and intangible functions of CRM on Modeiran Company(the exclusive representative of LG monitors.)"The information of statistical society, the buyers of the products of this company, on the first halfof the year 1384 was studied on the basis of available data. Moreover, using a questionnaire,customer information was gathered.The main variables include: performance value, social value, emotional value, perceivedsacrifices, loyalty to brand, customer satisfaction, and the performance of CRM. The type of presentstudy is correlational investigation with applied and sectional nature.According to the results, "perceived sacrifices" do not have a direct and negative (reversed)relationship with variables of the performance of CRM on the basis of customer behavior, customersatisfaction and customer loyalty. In other words, the increase of material and immaterial losses,due to buying LG monitors did not lead to decrease of loyalty or satisfaction, which is the result ofthe quality of the services and products. This study has revealed a direct and positive relationshipbetween emotional and social values with the performance of CRM on the basis of customerbehavior. This shows the popularity of LG monitors in Iran's market and customers' satisfaction ofthis product. Manuscript profile

Open Access Article

6 - Management of information technology to implement customer-oriented strategy
Ali Divandari

Information Technology is one of the critical success factors in any organization in that it isvirtually impossible to implement organizational plan without paying due attention to this domain.In their attempt to implement their strategies, organizations need to conside More

Information Technology is one of the critical success factors in any organization in that it isvirtually impossible to implement organizational plan without paying due attention to this domain.In their attempt to implement their strategies, organizations need to consider all the influentialfactors including the IT issues and make necessary adaptations between the organizational strategyand its IT. As private banks, credit fund and Gharz-ol-hasane fund are introduced as the new playersin banking industry, the industry is experiencing an ever-increasing competitive condition and insuch a market, customer is the key determinant of success. This paper reviews the four maincommercial banks of Iran, tries to determine the degree of adaptability of IT variables insideorganizations with customer-oriented strategy of banks and seeks to recognize their extend ofreadiness in adopting this strategy as far as IT-relevant issues are concerned. Manuscript profile

XML

List of Articles