پژوهشی
Mansour Zarra Nezhad; Yaser Taimori Asl
Abstract
Study of the changes in the stock price in Tehran stock exchange is of great
importance. This is because of its application in forecasting the stock price in the
stock exchange.
The aim of this article is to investigate the forces and mechanisms that cause the
dramatic changes in stock price and ...
Read More
Study of the changes in the stock price in Tehran stock exchange is of great
importance. This is because of its application in forecasting the stock price in the
stock exchange.
The aim of this article is to investigate the forces and mechanisms that cause the
dramatic changes in stock price and the formation of chaotic trend. To test whether
the chaotic trend in the Tehran stock exchange exists, the daily stock price of
Bakhtar Cable Company (as a sample) for the period of 05/25/2008-08/20/2008 has
been tested using the Brock, Dechert and Scheinkman (BDS) test.
The results showed that there exists chaotic behavior in the stock price time series,
and the stock price moves in trend. The findings of the research confirmed that
chaotic method can be applied to detect and forecast the stock price trend in Tehran
stock exchange.
پژوهشی
Ali Haghighat; Khosrow Piraee; Mohammad Daneshnia
Abstract
Inflation has always been an economic problem and different solutions have been
proposed to control it. Although it is said that “higher output lowers inflation rate”
but it is true when other factors are constant. This study searches the answer to the
following question: “what is the effect ...
Read More
Inflation has always been an economic problem and different solutions have been
proposed to control it. Although it is said that “higher output lowers inflation rate”
but it is true when other factors are constant. This study searches the answer to the
following question: “what is the effect of inflation rate and output in a case that
inflation rate and output growth has a volatility trend?”
To this aim we use seasonal data on Iran’s gross domestic product and consumer
price index from spring 1975 to summer 2008 and an exponential generalised
autoregressive conditional heteroskedasticity (EGARCH) model to show volatility
the variables.
The results of this study show that there is an autoregressive conditional
heteroskedasticity (ARCH) process in the output growth and inflation rate. We also
find that the inflation rate and output volatility increase Inflation rate and the output
volatility higher output growth. The hypothesis that the inflation rate volatility
lowers output growth can not be accepted.
پژوهشی
Sadegh Bafandeh Imandoust; Ghasemie Hesameddin
Abstract
Examination of demand of money and recognition of important factors, is one of the
important problems in macroeconomic. Identifying important factors that can affect
demand money function, beside other economic factors, guaranty successfulness for
economic policies. Semblance of many studies have ...
Read More
Examination of demand of money and recognition of important factors, is one of the
important problems in macroeconomic. Identifying important factors that can affect
demand money function, beside other economic factors, guaranty successfulness for
economic policies. Semblance of many studies have been carried out to specify
factors affecting demand of money, indicate some scattering on choosing important
factors ,so results are different. Lack of knowledge about descriptive variables and
correct model of money demand, produce wrong model.
To avoid a prejudgment on the effective factors of Iran’s money demand (based on a
specific theory), Bayesian Model Averaging is utilized. As it is common, this
approach is based on the estimation of a regression model for many times (here
14,000) and estimation of coefficients with Bayesian Model Averaging. Data period
is between 1976 -2007.
Results show that GNP, CPI (consumer price index), formal exchange rate, ratio of
budget deficit on GNP, lagged dependent variable and CPI with lagged have
significant effects on demand of money.
پژوهشی
Mohammad Reza Abbaszadeh; Mahbubeh Kazemi; Abdollah Azad
Abstract
This Paper investigates the link between accrual and cash flow components of
earnings and future abnormal earnings and Equity Values. The base of tests in This
paper is Ohlson (1999) model and net income, equity book value and return on
equity book value, is the variables that used in this paper. ...
Read More
This Paper investigates the link between accrual and cash flow components of
earnings and future abnormal earnings and Equity Values. The base of tests in This
paper is Ohlson (1999) model and net income, equity book value and return on
equity book value, is the variables that used in this paper. The statistical population
of this research is the firms accepted in the Tehran stock exchange that examined for
the time period between 2000 & 2009 by 132 firms as the sample.
The results of empirical tests indicate that as predicted, accruals are incrementally
informative regarding future abnormal earnings. Moreover, cash flows are
significantly incrementally informative regarding future abnormal earnings. The
results also reveal that the findings relating to accruals and cash flows in the
abnormal earnings equations are “mirror images” of each other. The results also
indicate that the accrual and cash flow components of earnings are incrementally
valuation relevant.
پژوهشی
Ebrahim Gorji; Ali Reza Eghbali; Javad Sharefzadeh
Abstract
Today, real business cycles theory, subject reports, articles, letters thesis
has many worldwide. It seems since the main point in the theory of business
cycles is a true technology shocks, this theory can be considered a theory of
economic boom. In other words this theory in describing the capabilities ...
Read More
Today, real business cycles theory, subject reports, articles, letters thesis
has many worldwide. It seems since the main point in the theory of business
cycles is a true technology shocks, this theory can be considered a theory of
economic boom. In other words this theory in describing the capabilities to
create greater prosperity to recession and the anatomy of the business
cycles is an asymmetric behavior.
In this article the authors use an analytical technique to show that they
intend to remove the rules and regulations not to date against the growth
and technology innovation in financial markets the main reason for the
recent economic downturn has created and therefore in contradiction with
this idea theorist theory of real business cycles and hence the current
financial crisis, including the serious challenges facing them know.
Other hand, gains of this article can show aspects of technology shocks
main business cycle is created and so this paper can be used emphasis on
research that shocks are demand side.
پژوهشی
Mohammad Lagzian; Javad Baghaei; Mohammad Hossein Homayoni Rad
Abstract
Optimized decision making in the market of stocks and bonds needs utilizing
suitable tools and skills in order to choose the best choices for investment. The most
important financial information of corporations is their financial reports that help
analyzing basics of stocks.
Current research by basing ...
Read More
Optimized decision making in the market of stocks and bonds needs utilizing
suitable tools and skills in order to choose the best choices for investment. The most
important financial information of corporations is their financial reports that help
analyzing basics of stocks.
Current research by basing basic information of corporation’s financial reports, has
tried to examine traces of 10 instances of the most important financial ratios in the
prediction of oncoming efficiency and profit of 252 companies out of those
companies in the stock market of Tehran that their financial reports in a 6 year
period (2001-2006) have been available.
Research results show that profitability ratios and activity ratios can be proper
predictive of oncoming efficiency in the stock market of Tehran. Nonetheless there
is not a meaningful relationship between financial ratios and oncoming profits; that
this may be due to smoothing of profits in Iranian companies.
پژوهشی
Seyed Hossein Hosseini; Seyed Ali Moosavi Baygi
Abstract
Governmental contracts have an important place in the financial and economic
system.Because the transfer of funds generally is done by contracts.
In other hand because of governmental economic system in our country and
concentration of capital in this section, the governmental contracts has greater
importance.Therefore ...
Read More
Governmental contracts have an important place in the financial and economic
system.Because the transfer of funds generally is done by contracts.
In other hand because of governmental economic system in our country and
concentration of capital in this section, the governmental contracts has greater
importance.Therefore the special monitoring on various stages of contract from
foundation to implement is necessary. Otherwise the negative consequences will
follow that the corruption is the most important of those consequences.
The studies shows that country's legal system has foresighted a monitoring system to
assure healthy and sound implantation of projects, However, need for a
comprehensive and effective surveillance system to incorporate various aspects of
political and administrative issues is still evident, This is mainly because proper
functioning of regulatory bodies has always been a challenge for legislators,
executives, as well as judicial system.
This article seeks to identify involved bodies, explore challenges and propose
solutions, towards a more effective system of monitoring.
