[1] Abzari, Mehdi, Samadi, Saeid and Safari, Ali. (2007). the Role of Reference
Group in Motivating Individuals on Investing in Stock Exchange. Quarterly
Journal of Iranian Accounting and Auditing Review; 14 (2): 3-22 (in Persian).
[2] Acharya, Viral and Bisin, Alberto. (2011). Counterparty Risk Externality:
Centralized Versus Over-The-Counter Markets. NBER Working Paper, No.
17000.[3] Arrondel, Luc, Debbich, Majdi and Savignac, Frederique. (2012).
Stockholding and Financial Literacy: New Results from a French Survey.
IPEDR, 50 (22): 109-114
[4] Azizi, Firouzeh. (2004). the study of executive mechanizme of developing
capital market. Research Project, Management and Productivity Study Center,
Tarbiat Modares University (in Persian).
[5] Babus, Ana. (2010). Strategic Relationships in Over-the-Counter Markets.
Discussion Paper, University of Cambridge.
[6] Bilias, Yannis, Georgarakos, Dimitris and Haliassos, Michael. (2013). Equity
Culture and the Distribution of Wealth. Netspar Discussion Paper, No. 010
[7] Bozec, Richard and Dia, Mohamed. (2012). Convergence of Corporate
Governance Practices in the Post-Enron Period: Behavioral Transformation or
Box-Checking Exercise?. Corporate Governance, 12 (2): 243-25
[8] Donyaei, Mohammad. (2011). The Role of Over the Counter (OTC) Market in
Iran's Capital Market Development. Master Thesis, Faculty of Management
and Accounting, University of Sistan and Baluchestan (in Persian).
[9] Duffie, Darrell, Li, Ada and Lubke, Theo. (2010). Policy Perspectives on OTC
Derivatives Market Infrastructure. IMF Working Paper Series, No. 2010-002
[10] European Commission. (2002). Benchmarking Business Angels. Enterprise
Directorate General. Final Report of the Expert Group, Directorate-General
for Enterprise and Industry.
[11] European Commission. (2005). Best Practices of Public Support for Early-
Stage Equity Finance. Final Report of the Expert Group, Directorate-General
for Enterprise and Industry.
[12] European Commission. (2007). Communication from the Commission to the
Council, the European Parliament. The European Economic and Social
Committee and the Committee of the Regions: Removing Obstacles to Cross-
Border Investments by Venture Capital Funds, Brussels, 21.12.2007.
[13] Ezazi, Mohammad Esmail, Salehi, Mahdi and Donyaei, Mohammad (2011a).
A Survey on Transaction Costs: Some Evidence from Iranian OTC Market.
Middle-East Journal of Scientific research. 8 (2): 467-470
[14] Ezazi, Mohammad Esmail, Salehi, Mahdi and Donyaei, Mohammad (2011b).
Transparency of Trading in OTC Market: Some Evidence from Iran. Middle-
East Journal of scientific research, 8 (2): 460-466
[15] Friewald, Nils, Jankowitscha, Rainer and Subrahmanyam, Marti G. (2012).
Illiquidity or Credit Deterioration: A Study of Liquidity in the US Corporate
Bond Market during Financial Crises. Journal of Financial Economics. 105
(1): 18–36
[16] Geissler, Ulrike and Einwiller, Sabine. (2001). A Typology of Entrepreneurial
Communicators: Findings From an Empirical Study in e-Business.
International Journal on Media Management, 3: 154-160.
[17] Green, Richard C., Li, Dan and Schurhoff, Norman. (2010). Price Discoveryin Illiquid Markets: Do Financial Asset Prices Rise Faster Than They Fall.
Journal of Finance, 65(5): 1669–1702.
[18] Guiso, Luigi and Jappelli, Tullio. (2005). Awareness and Stock Market
Participation. Review of Finance, 9 (4): 537-567
[19] Guiso, Luigi, Haliassos, Michael and Jappelli, Tullio. (2003). Equity Culture:
Theory and Cross-Country Evidence. Economic Policy, Printed in Great
Britain, pp. 123–170
[20] Guvenen, F. (2006). Reconciling Conflicting Evidence on the Elasticity of
Intertemporal Substitution: A Macroeconomic Perspective. Journal of
Monetary Economics, 53 (7): 1451–1472
[21] Hacimahmutoglu, Sibel. (2007). The Problems of Minority Protection and
Their solutions Within the Legal Framework in Turkish Corporate
Governance. Journal of Banking Regulation, 8 (2): 131-158
[22] Haliassos, Michael and Hassapis, Christis. (2002). Equity Culture and
Household Behavior. Oxford Economic Papers, 54 (4): 719-745.
[23] Hendershott, Terrence and Moulton, Pamela C. (2011). Automation, Speed
and Stock Market Quality: The NYSE’s Hybrid. Journal of Financial Markets,
14: 568–604
[24] Hennessy, Alexandra. (2007). The Role of Agenda Control in the Creation of
a Single Market for Pension Funds. in: UNSPECIFIED, Montreal, Canada.
(Unpublished)
[25] Hosseini, S. H.; Ezazi, M.E.; Donyaei, M. and Tehrani, R. (2012).
Comparative Study on Ranking of the Top Companies In Tehran Stock
Exchange based on Financial Ratios and TSE Indice with ahp-topsis method,
Financial Engineering and Portfolio Management. 2 (9): 27-50 (in Persian).
[26] Hruska. Sharon Brown and Laux. Paul A. (1999). Complementary Markets,
George Mason University
[27] Huang, R. D. and Stoll, H. R. (1997). The Components of the Bid-Ask Spread:
A General Approach. The Review of Financial Studies, 10: 995-1034.
[28] Madura, Jeff. (2006). Financial Markets and Institutions, Thomson/South-
Western, 7th edition.
[29] Mcgovern, Mark and Candemir, Nurcan. (2006). Agents, Institutions and
Regions in Transition. 46th Congress of the European Regional Science
Association, 30 August 30-3 September 2006, Greece, Volos
[30]Mohammadzadeha, Amir, Hamidib, Naser, Abedic, Sadegh and Jabari,
Fehimeh. (2013). An Application of Multiple Attribute Group Decision
Making in Ranking Investors’ Concerns: A Case Study of Tehran Stock
Exchange. Management Science Letters, 3: 457–462
[31] Nofsinger, John R. and Varma, Abhishek. (2010). Pound Wise and Penny
Foolish? OTC Stock Investor Demographics and Portfolios. Working paper,
Washington State University
[32]Okamoto, Karl S. (2010). A Law and Personal Finance: View of Legal
Origins Theory. Brigham Young University Law Review, Desktop PublishingExample.
[33] Osei. Kofi A. (1998). Analysis of Factors Affecting the Development of an
Emerging Capital Market: The Case of the Ghana Stock Market. AERC
Research Paper, No. 76
[34] Safari, Ali. (2005). Factors Affecting the Individuals’ Capital Attracting in the
Stock Exchange (Case Study: Regional Stock Exchange of Isfahan). Master
Thesis, Faculty of Administrative Sciences and Economics, University of
Isfahan (in Persian).
[35] Tehrani, Reza, Donyaei, Mohammad, Navabi zand, Kambiz, Ghasemi,
Masoud and Hosseini, Seyed-Hasan. (2012). Comparative Study on Ranking
of the Top 50 Companies In Tehran Stock Exchange Based on Financial
Ratios and (TSE) Indices. Archives Des Sciences Journal, 65 (6): 56-69.
