اکرم تفتیان

Risk sentiment affects investors' risk assessment and financial decision-making. Therefore, the present study investigated the two-way relationship between the risk sentiment of annual reports and stock liquidity risk in companies listed on the Tehran Stock Exchange during the period 2009 to 2012. In this study, 131 companies were selected as a sample using the systematic elimination method and the risk sentiment of annual reports was calculated using the content analysis method, and then the system of simultaneous equations was estimated using the two-stage regression method. The estimation results indicate that there is no two-way relationship between the risk sentiment of annual reports and the liquidity ratio of AMIOST and the illiquidity ratio of AMIHOOD in companies listed on the Tehran Stock Exchange. In addition, the development of the management interpretative report regulations has a significant effect on the relationship between the risk sentiment of annual reports and the liquidity ratio of AMIOST and the illiquidity ratio of AMIHOOD.

Accounting education courses have a very limited focus on skills development in the curriculum, which is reported by employers who want diverse skills and attributes in accounting graduates to maintain economic interests in the workplace. The aim of the current research is to design and validate an educational model of accounting graduate students in the knowledge and skills required in qualitative and quantitative research and to explain and identify its components and indicators. The statistical population of the research included experts, and in the qualitative phase, 25 interviews were conducted with them (professors of accounting and financial management) using a non-random and chain sampling method (snowball). In the quantitative phase, 157 doctoral graduates in accounting were determined as a sample by random sampling and the research questionnaire was distributed among them. Theme analysis method was used to analyze qualitative data. In the theme analysis section, 8 main categories were identified in the form of 30 sub-categories and 196 concepts. Structural equation approach with Smart PLS software was used for quantitative data analysis and model validation. Findings indicated 196 concepts in the form of 30 sub-themes and 8 comprehensive main themes including quantitative and econometrics, qualitative, essay writing, thesis writing, professional skills acquisition and general education, technology skills acquisition, research ethics and knowledge acquisition in various fields. The accounting requirements have been extracted, which are the components of the proposed educational model for accounting graduate students in the knowledge and skills required in qualitative and quantitative research. Also, the results of the research showed that the research model has a good fit and all the identified concepts have meaningfully explained the relevant categories; Therefore, this model can be used as an innovative strategy for curriculum developers of high-performing accounting graduate students.
Keywords: Educational Model, Graduate Students of Accounting, Knowledge and Skills, Quantitative and Qualitative Research.
 
The role of higher education institutions is not only to train graduates who are able to work in new jobs, but to prepare human resources who can contribute to the development of their jobs. For this reason, an important output of universities, especially at the graduate level, is to train students as worthy researchers who possess acquired knowledge and skills to conduct research and publish its results in a specific research field. Research skills refer to the abilities necessary to conduct research. Research skills can be classified into two groups: 1- skills that are necessary to review and evaluate surveys, experiments and other studies related to real issues in the field of research, and 2- skills that are necessary to conduct research such as designing, implementing and analyzing data and Interpretation and generalization of findings. Research report skills can also be added to this categery. This research has met a new dimension of the educational needs of graduate accounting students in the knowledge and skills needed in qualitative and quantitative research and provides effective steps to reduce the knawledge gap between professors and graduate accounting students. In general, an attempt has been made to conduct a comprehensive and extensive study of the knowledge and skills required in qualitative and quantitative research, and it seems that the validation of the obtained model will be effective in strengthening the results. Therefore, in the developing accounting environment of Iran, designing and presenting a coherent model, in addition to emphasizing the valuable findings of other researchers, as well as expanding the theoretical foundations, to present and evaluate the knowledge and skills required in qualitative and quantitative research seems necessary. In this context, this research, based on the opinions of experts, professors and graduate students of accounting, will seek to answer this uestion: what are the most important knowledge and skills needed in qualitative and quantitative research for graduate students of accounting?
 
The current research is a hybrid research and was chosen in the qualitative part of the research from among the many approaches of qualitative research to examine the dimensions and components of the educational model of accounting graduate students in the knowledge and skills required in qualitative and quantitative research for theme analysis approach. In this section, in-depth semi-structured interview was used to collect data and to identify experts, the snowball technique, which is one of the targeted sampling methods, was used. The statistical population of the research in the qualitative part were all the experts (professors of accounting and financial management) who, in addition to having full experience, expertise on the subject of knowledge and skills required in qualitative and quantitative research, are also experts in this field an the quantitative part, the statistical population of the study is made up of Ph.D. graduates in the field of accounting. For sampling, simple random sampling was used, and for determining the sample size, the formula for structural equation modeling was used. To determine the degree of desirability of the proposed model, a questionnaire was designed based on the main categories and themes extracted from the codings. The questionnaire included 8 main dimensions and 95 questions, which are designed and adjusted in a 5-point Likert scale (very high, high, medium, low and very low) and are graded from 1 to 5. After designing the questionnaire, in a preliminary study, in order to estimate the validity of the questionnaire; it was sent to the professors of accounting and financial management. Based on receiving corrective feedback and modifying the wordings of the questionnaire, according to their opinion, the validity of the questionnaire and the compatibility of the topic with the questions and the usability and appropriateness of the questions were ensured. Based on this, it was found that the questions of the questionnaire have the power to explain and test the designed measurement tool.
 The findings indicated 196 concepts in the form of 30 sub-themes and 8 comprehensive main themes including quantitative and econometrics, qualitative, essay writing, thesis writing, professional skills acquisition and general education, technology skills acquisition, research ethics and knowledge acquisition in various fields. The accounting requirements have been extracted, which are the components of the proposed educational model for accounting graduate students in the knowledge and skills required in qualitative and quantitative research. Also, the results of the research showed that the research model has a good fit and all the identified concepts have meaningfully explained the relevant categories.
 Discussion and Students are one of the main elements of universities that will form the main body of various organizations and bodies of the society. Their satisfaction with the activities carried out in the university can influence their attitude towards their field of study in order to create motivation and maintain and improve the quality of education. Recognizing the needs and concerns of students, material and spiritual support, creating a suitable platform, providing tools and other facilities, and research are among the measures that can provide the basis for the emergence of graduate students' talents. Lack of motivation of students in the university, weak group spirit and lack of scientific enthusiasm is one of the internal shortcomings of the country's education system and a serious problem in universities. The model of the present research comprehensively expresses the effect of different types of factors affecting the knowledge and skills required in qualitative and quantitative researches, and finally, it helps to control the amount of education as well as the quality of education in qualitative and quantitative researches in universities, and in general, will lead to the improvement of education among graduate accounting students.
 Acknowledgment
The study "Designing and Validating the Educational Model of Accounting Graduate Students in the Knowledge and Skills Required in Qualitative and Quantitative Research" was developed to complete the lack of a comprehensive model for sense of presence. I thank professionals' guidance.

Considering the increasing trend of environmental damage by companies, disclosing information about their environmental performance has an undeniable role in achieving sustainable development. Environmental reporting has become one of the basic issues in the process of sustainable development to ensure environmental protection; the purpose of the current research is to identify and evaluate the quality indicators of environmental reporting to respond to the needs of stakeholders in line with the goals of sustainable development.

This research is descriptive-correlative in nature and practical in terms of purpose. The research was conducted with a mixed approach in two parts, quantitative and qualitative, where qualitative data was collected through semi-structured interviews with academic and executive experts in environmental, reporting fields and literature review of the research field. In order to collect quantitative data, a researcher-made questionnaire was given to faculty members, capital market analysts, financial managers and auditors.

The findings from the qualitative part using the Attride-Stirling theme analysis method include 2 global themes, 7 organizing themes and 39 basic themes. Overarching themes include environmental hard disclosure and soft disclosure. In the quantitative part, the algorithm of data analysis using the partial least squares (PLS) method, which includes the examination of measurement models and structural model fitting; In order to evaluate 7 components, "future perspective and strategic plans, history and specifications, initiatives, disclosure of governance structure and management systems, credibility, financial indicators, performance factors" were used as a tool for measuring environmental reporting in Iran.

According to the results of the confirmatory factor analysis and data fitting algorithm, it is possible to understand the acceptability and desirability of the existing structure at the level of themes. Based on this, it can be said that the indicators for measuring the quality of environmental reporting have adequate construct validity and reliability, so they can be used to evaluate the quality of environmental reporting in terms of its reliability.

 A good disclosure improves the accuracy of analysts' forecasts of future years' profits. Companies disclose information either compulsorily or voluntarily. The Securities and Exchange Organization, as the operator of the capital market, has prepared rules and regulations, and all companies listed on the stock exchange are required to comply with mandatory disclosure requirements fully.

 This research reports the results of the experimental investigation of the relationship between the mandatory disclosure level and the market-based performance of the companies listed on the Tehran Stock Exchange in the period after the development of standards and regulations. It also compares market-based performance evaluation criteria before and after the development of standards and regulations. The main purpose of the current research is to investigate the correlation between the level of mandatory disclosure and the market-based performance of 64 companies listed on the Tehran Stock Exchange from 1998 to 2022. For this purpose, the system of simultaneous equations was estimated using the two-stage regression method. Tobin’s Q ratio, price-to-profit ratio and added market value are considered as market-based performance criteria and an unweighted index with 293 components is used to measure mandatory disclosure in annual reports.

 The estimation results show that there is a two-way relationship between the level of mandatory disclosure and market-based performance in companies listed on the Tehran Stock Exchange, and all the performance evaluation criteria, except Tobin’s Q, have a significant difference in the period before and after the development of standards and regulations.

Originality:

Mandatory disclosure of information leads to change and improvement of returns and stock prices of companies.

Managers disclose prospective information with various motivations, such as showing the company's performance, reducing political costs, providing the auditor's opinion, and being influenced by the legal environment. The current research was carried out with the aim of investigating managers' motivations in changing the disclosure of forward-looking information. In order to test the hypotheses of the research, 131 companies were selected as a sample between 2013 and 2023 using the systematic elimination method and analyzed using the static and dynamic panel data regression method. To evaluate managers' motivations, the company's performance change criteria and company's characteristics have been used, and to measure the change of prospective information disclosure in annual reports, vocabulary frequency method has been used. The results of the research showed that there is a positive and significant relationship between the change in performance and the change in the disclosure of prospective information; In other words, companies with better performance can disclose more forward-looking information. Also, there is a negative and significant relationship between the size of the company and the litigation environment with the change in prospective information disclosure, and there is a positive and significant relationship between the competitive environment, managerial ownership and the type of audit with the change in information disclosure. Based on the results of the research, managers' motivations can affect the company's decisions and performance and cause changes in prospective information disclosure.

Knowing the reliability of financial information is of particular importance for various reasons, including conflict of interests, complexity of economic events, etc. On the other hand, the fall with fraud in large companies such as Enron and Tyco led to the issue of using the services of independent auditors and careful monitoring and paying attention to the quality of audit reports. The purpose of this research was to provide a model to measure the credibility of auditors. The method used in this research is field and factor analysis. The statistical population of this research includes people active in the auditing profession, and the sample determined through Cochran's formula includes 142 people active in the auditing profession. The measurement tools used in this research were interviews and questionnaires taken from the results of the interviews. The questionnaire information was completed in 1401. The results obtained from the research showed that the components of checking independence, acceptance or continuation of work; correspondence file; permanent file; knowledge of the unit under consideration and its environment including internal controls; content tests; work planning, control and supervision; checklists and reports; How to perform the duties of the second manager; general assessment of audit files; general status of the audit institution; The status of human resources of the audit institution; functions of the audit institution; Compliance with the rules and regulations of the auditing profession and the external status of the auditing institution have an effect on the evaluation of the auditors' credibility.

The tendency of companies towards environmental reporting has grown significantly in recent years due to the increased interest and attention of stakeholders. Since environmental reporting is useful in creating legitimacy, it plays a role as an important tool in the company's competitive advantage. The purpose of the current research is to investigate the relationship between the behavioral characteristics of the board of directors and the environmental reporting of the company's company; which can be used to strengthen and improve this type of reporting, as one of the important accountability tools in front of the stakeholders. For this purpose, 131 companies admitted to the Tehran Stock Exchange between 2009 and 2022 were selected by the systematic elimination method, and in order to increase the degree of confidence in the results of the hypothesis test, the static and dynamic panel data regression method was used. To collect research data and information using the method of document mining from the field method and the databases of the Tehran Stock Exchange, the comprehensive publisher information system (Codal) and the new Rahvard software, and to examine and measure the environmental reporting of companies in the activity report of the board of directors, the interpretive report of the management and The notes accompanying the financial statements have been used using the content analysis method. According to the findings of the research, in both static and dynamic states, there is a positive relationship between the managers' short-sightedness and the company's environmental reporting, there is a negative relationship between the managers' optimism and the company's environmental reporting, and there is no relationship between the managers' ability and the company's environmental reporting. By comprehensively investigating the relationship between the behavioral characteristics of the board of directors on the company's environmental reporting, this research provides a new perspective on environmental reporting to the users of the research results and improves the awareness of the stakeholders in identifying the relationship between the behavioral characteristics of the board of directors on this type of reporting.

Disclosure of forward-looking risk discloses a type of information that can change the decisions of users of financial statements if they are not aware of them and provide users with a better perspective regarding the future and future performance of the company. Considering the importance of prospective risk disclosure; The present study deals with the formulation of the prospective risk disclosure model in the company's annual reports.

This research is of the qualitative research type and its paradigm is of the interpretation type in which the qualitative research method and the phenomenological approach are used. The dimensions and components of prospective risk disclosure have been identified through Atride-Stirling (2001) thematic analysis method, and research analyzes have been performed using the 7-step collage technique. The research sample includes 22 capital market experts who were selected through the snowball technique.

The findings indicate that 94 propositions have been extracted in the form of 29 basic themes, 5 organizing themes and 2 inclusive themes, including prospective soft risk disclosure and prospective hard risk disclosure, which form the components of the proposed prospective risk disclosure model.

This research, by comprehensively examining prospective risk disclosure in the company's annual reports, provides a new perspective in examining the prospective risk disclosure model to the users of the research results and improves the stakeholders' awareness of this type of disclosure.

Contribution: 

This research, by comprehensively examining the components of prospective risk disclosure, provides a new perspective in examining the components of annual reports to the users of the research results.

 This study investigates the impact of optimistic investor sentiment and stock liquidity on the stock returns of the Iranian stock exchange. The primary objective is to analyze how psychological and financial factors influence stock market performance.

The research utilizes monthly data on stock returns, investor sentiment, and liquidity from April 2013 to June 2022. Two methods, Dynamic Ordinary Least Squares (DOLS) and Robust Least Squares (RLS), were employed for data analysis. These methods allow researchers to precisely examine the longitudinal and robust relationships between the variables.

The results indicate that optimistic investor sentiment has a positive and significant effect on stock returns, while illiquidity has a negative and significant impact on stock returns. These findings underscore the importance of managing market-related information and news to channel investor sentiment positively.

The results of this study suggest that proper management of investor sentiment and increased liquidity can improve stock returns and stabilize financial markets. It is recommended that stock market regulators and economic policymakers utilize these findings to enhance stock market performance through appropriate policy-making and implementation. Additionally, directing liquidity from parallel markets to the stock market can help control inflation and reduce price volatility.

The purpose of this research is to analyze and illustrate financial literacy articles, which have been investigated and identified semantic relationships between keywords in the field of financial literacy in the period 1964-2022 (unlimited) in the Web oScience database using vocabulary co-occurrence analysis and co-authorship. . Finally, 566 articles were extracted from the researched database and analyzed using Visweaver version 1.6.19 software. The results showed that the field of financial literacy is related to words such as education, knowledge, attitude, credit, performance, financial knowledge and self-efficacy, and the word "financial literacy" is the most frequent word in terms of frequency and has the highest co-occurrence with 186 occurrences. Based on the co-authored results of the countries, it was also determined that America, China and England are among the active countries in the world. Finally, the results of the co-authored map of the authors also showed that Losardi and Annamaria had the most cooperation. This study not only helps to expand the knowledge base about the research topic, but also helps to understand the evolution of financial literacy and related areas.

An indicator of investors' trading behavior that affects asset prices is investor sentiment. Investor sentiment is known as a degree of investor's optimistic mood in financial markets. Company-specific investor sentiments have a significant impact on the risk of a stock price fall. There are two types of traders, simple noise traders and rational arbitrageurs (informed traders) in the market. When noise traders have high risk sentiment and are very optimistic about a stock, they can easily drive its price to a high level. At this point, arbitrageurs should sell the stock short. However, they fear that in the near future noise traders will become even more bullish and push the price even higher, limiting their prime arbitrage position. Under these conditions, arbitrage does not eliminate the effects of noise, because noise creates risk by itself. Stronger investor sentiments lead to the risk of a particular company's stock price falling, and the economic significance of this effect is not insignificant. Stronger investor sentiment leads to more active margin investments in stocks, leading to higher stock price risk. Therefore, the impact of investor sentiment on stock price downside risk is more pronounced for stocks eligible for margin trading. Hence, this research seeks to answer the question of whether the moderating role of the firm's growth opportunities and profitability has an effect on the value relationship of the risk perception of annual reports?

 THEORETICAL FRAMEWORK:

The basic premise of using investors' risk sentiments to predict stock prices, stock market returns, and liquidity is the synergy between stock prices and investors' risk sentiments. However, this synergistic relationship has received less attention in the literature. When the stock price increases, the investor's risk sentiment increases, and when the stock price decreases, the investor's risk sentiment decreases. Therrfore, this synergy may reverse or even disappear over a certain period of time. Through a segmented measurement of the synergism between stock price and investor sentiment over the course of a day, we can also find that investor risk sentiment on social media is forward-looking. This provides theoretical support for the use of investor risk sentiment in stock price prediction. External anxiety can significantly affect the synergy between stock prices and investor risk sentiment, but this effect can increase positive or negative synergy. The existence of growth opportunities increases the performance of companies and shareholder wealth, which leads to participation in job creation and economic development, increasing the value of companies and the demand for high-quality innovation, and the improvement in the global market increases opportunities and competition, which also forces companies to invest and undertake riskier projects to maximize shareholder wealth. If investor risk sentiment does indeed drive asset prices, then analysts' recognition and treatment of risk sentiment may affect the relative profitability of their stock recommendations. For example, an analyst may believe that a particular stock is overvalued based on his private estimate of the company's intrinsic value. However, the analyst may hesitate to issue a sell recommendation if he believes that investor risk sentiment will continue to put upward pressure on asset prices in the short term. Furthermore, if the analyst believes that investors will become even more bullish in the near future, he may actually issue a buy recommendation. If the analyst (1) correctly anticipates an upward (downward) shift in investor sentiment that ultimately causes an increase (decrease) in asset prices and (2) issues a more favorable (unfavorable) recommendation in response, then the analyst's recommendation may be more profitable than his peers.

The current research is based on the classification based on the goal, use, and in terms of classification, it was done using the descriptive-correlation method and using the post-event approach. To collect research data and information by document mining method, field method and databases of Tehran Stock Exchange, comprehensive information system of publishers (Kedal) and modern Rahvard software were used. Finally, the data has been prepared using Excel software and then the final analysis has been done using Eviews software. Content analysis method was used to check the level of risk perception from the activity report of the board of directors, the management's interpretive report and the accompanying notes of the financial statements. In order to test the research hypotheses, the dynamic model approach has been used to estimate the models related to the hypotheses.

According to the findings of the research, the risk perception of annual reports has a significant effect on the stock price, and also the company's growth opportunity and profitability have a significant effect on the value relationship between the risk perception of annual reports and the stock price. Also, growth opportunity and profitability as moderators affect the relationship between risk perception and stock price. It can be claimed that Tehran Stock Exchange market is more influenced by economic variables. Therefore, it seems necessary to make policies in macro areas to reduce the feeling of economic risk.

CONCLUSIONS & SUGGESTIONS:

It can be claimed that Tehran Stock Exchange market is more influenced by economic variables and financial and political variables do not have much effect on this market. Therefore, investors are advised to pay special attention to the effect of risk perception on market returns in financial analysis. In addition, in order to reduce the effect of risk feelings on the economy and especially on the stock market, it seems necessary to make policies in macro areas to reduce the feeling of risk.

The credibility of auditors is directly linked to the added value of confidence in communication between the auditee and their audience. Consequently, the credibility of auditors takes precedence due to the significance of audited financial statements in facilitating transactions in capital markets. This research aims to measure auditors' credibility using artificial neural networks.

Initially, research variables were identified using grounded theory, and factor analysis was employed to analyze research questions. The final model for measuring auditors' credibility was then presented, and MATLAB software was utilized to measure auditors' credibility. This research was conducted in the year 1401 (Solar Hijri calendar, equivalent to 2022-2023 in the Gregorian calendar).

The results revealed that various factors influence the evaluation of auditors' credibility, including examining independence, acceptance or continuation of work, correspondence file, permanent file, understanding the unit under scrutiny and its environment (including internal controls), content tests, work planning, control and supervision, checklists and reports, the execution of duties by the second manager, overall assessment of audit files, the general status of the audit institution, human resource status within the audit institution, functions of the audit institution, compliance with auditing profession rules and regulations, and the external appearance of the audit institution.

The weed optimization algorithm outperforms the particle swarm optimization algorithm in predicting auditors' credibility. Based on the findings of this study, stakeholders in the auditing profession, especially the Iranian Institute of Certified Accountants responsible for assessing auditors' credibility, should pay attention to the identified factors that experts and professionals believe to have an impact on evaluating auditors' credibility.

Financial literacy affects physical and mental health,  and a person acquires enough skills to participate in economic fields. This study investigated the relationship between financial literacy and mental health with the mediating role of financial stress and financial behavior in senior high students in Yazd city.

The method of data collection is field- and library-based. It is also considered to be a survey in terms of strategy and descriptive in terms of goals. The statistical population included all the senior-high students in Yazd city in 2023. Using Cochran's formula, 384 people were selected, and the questionnaire of Parsia and Stimo (2022) was randomly distributed among them, and the data were analyzed through structural equation modeling

According to the findings of this research, financial literacy leads to the improvement of financial behavior and plays a significant role in creating correct financial behavior; on the other hand, increasing financial literacy can improve mental health, and there is an inverse relationship between financial literacy and financial stress. Finally, financial literacy can lead to mental health of students by influencing their financial behavior, positive financial behavior will lead to financial satisfaction, and financial literacy will improve the mental health of senior-high students by reducing their amount of financial stress.

Since financial literacy training has a significant effect on mental health, improving financial behavior and reducing stress, therefore, improves financial literacy in students and will reduce their anxiety.

Disclosure of strategy in annual reports by companies is a method of transmitting information related to the performance of the company's strategy and its effects on stakeholders, and identifying the drivers and factors affecting it is considered important due to the important role of this type of reporting in making correct and informed decisions. The purpose of this study is to investigate the drivers of strategy disclosure in the companies’ annual reports. Revealing a company's corporate strategy to the public is seen as reliable because managers prioritize safeguarding their reputation. This commitment to transparency encourages a company's leadership to make meaningful investments in the strategy. While disclosing forward-looking statements, like the progress of business strategies' implementation, in annual reports offers insight into the company's direction from management to financial analysts, it can also entail certain costs by potentially harming the company's competitive position.
 
In 2021, this study conducted a comprehensive qualitative analysis and meta-synthesis of prior research findings. A total of 191 articles were extracted and analyzed, and after analyzing the desired components, 26 articles were finalized. After identifying and determining the components, Shannon's entropy method was used to validate the meta-synthesis findings. Therefore, a survey was conducted among 15 experts who were selected using the snowball sampling method to comprehensively classify the conceptual codes. Experts were engaged to validate the elements associated with the extracted codes. Consequently, a table depicting the codes and components was presented to them, and their insights and opinions were solicited on this matter. Due to the absence of specific requirements and standards for preparing strategy disclosure reports in Iran, it appears that individuals working in this field may lack adequate theoretical knowledge on the subject. Therefore, we tried to use the opinions of experts who are theoretically familiar with the subject. These individuals were experts, professors, and researchers who had conducted research in the areas of reporting and capital markets over the past few years. They had accumulated a minimum of 15 years of experience in the fields of accounting and finance.
 
The findings indicated that strategy disclosure in annual reports is classified into 12 components and 32 codes. Among the identified components of a company's vision, the mission statement, statement of strategy, naming, scope, and strategic reference were deemed more significant than other components.
 
This research, by comprehensively examining the factors affecting strategy disclosure, tried to provide a new perspective in examining the drivers of annual reports and improve the awareness of the stakeholders in identifying the drivers and factors affecting this type of reporting.

Microfinance can be defined as a mechanism for providing various financial services to low-income groups. The current research was carried out with the aim of designing and validating the dimensions and components of the executive requirements of Islamic wisdom financing. In this research, a mixed exploratory approach was used, so that the qualitative method played an exploratory role and the quantitative method played a confirmatory role. Also, in the qualitative stage, the theme analysis method (Clark, 2006) and in the quantitative stage, modeling of structural equations using Smart PLS software has been used. The experts of this research are 25 people in the qualitative part and 60 people in the quantitative part from the experts and managers of the credit department and professors of the university by snowball sampling method. The findings of the research show that the aspects related to ownership and control, the characteristics of loan contracts and security are considered to be the most important aspects affecting the executive requirements of Islamic microfinance, respectively. The results of the model evaluation show that among the main categories related to the "loan contract features" dimension, payment method, responsibility and repayment method, contract cost, duration of the loan contract, and target group/business subject, respectively, as well as among the main categories related to the dimension "Security" is one of the most important categories that can affect the executive requirements of Islamic wisdom financing, respectively, the requirements of collateral/documents and proceedings.

The current research aims to systematically examine bankruptcy prediction models with the goal of developing a model that serves as a guide for selecting the most suitable tools. These tools should ideally align with the existing data and quality criteria of bankruptcy prediction models.

To conduct this research, a systematic search was performed on the Web of Science database using keywords such as Bankruptcy, Default, Distress, Failure, Forecasting, Predicting, Prediction, and Insolvency, spanning the years 2015 to 2023. Based on defined inclusion and exclusion criteria, this search yielded 1000 articles, out of which 49 were ultimately selected and analyzed. The findings from these articles were then summarized in tables. Subsequently, major bankruptcy prediction models were compared based on nine key criteria, and final conclusions were drawn.

Artificial neural networks and support vector machines were found to have the highest accuracy, while multiple personality analysis showed the lowest accuracy. Additionally, artificial neural networks, multiple personality analysis, decision trees, and logistic regression require a large training sample to logically identify and precisely classify patterns. However, case-based reasoning, rough sets, and support vector machines can work with smaller sample sizes.

Originality/ Value:

 The outcomes of this research contribute to a comprehensive understanding of the characteristics of tools used in developing bankruptcy prediction models and the shortcomings associated with them.

Sentiment risk factors at the market level include a small portion of possible factors that include factors related to competition, suppliers, employees and customers, financing, foreign operations, regulations, lawsuits, governance, the environment. The severity of this disclosure gap is only addressed by regulatory efforts that require companies to discuss their quantitative and qualitative assessments of perceived risks and uncertainties. One of dimensions of behavioral finance is behavioral risk, which is also known mental risk or perceived risk; which actually the investors' subjective judgment of the risk, which may be estimated more or less than the real risk. The main purpose of the present research is investigate the relationship between the risk Sentiment annual reports and the investor's risk Sentiment, which was conducted based on data of companies admitted the Tehran Stock Exchange in 13-year period between 2007 and 2019. To test the hypotheses of the research, the system of simultaneous equations and the analysis of two-stage regression coefficients have been used. The estimation results indicate that there significant relationship between the change in the standard deviation of monthly returns, the change in beta risk, and the change the volume of stock transactions with changes in risk Sentiment of annual reports.

This research was carried out with the aim of investigating the effect of financial literacy on the financial behavior of second year high school students, taking into account the mediating role of emotional and moral quotient in the period from October 1402 to December 1402.

Library sources, articles, and books were used to collect information in the field of theoretical foundations and literature. Collecting data and information for analysis is done by field method and the method of data analysis is inferential type. In order to test the hypotheses of the research, the structural equation modeling (SEM) system was estimated with the approach of the partial least squares method and the use of Smart PLS software.

The results of the research hypotheses test show that financial literacy has an effect on the financial behavior of second year high school students. Financial literacy affects students' financial behavior through the emotional factor. Also, financial literacy has an effect on students' financial behavior through emotional and moral coefficients.

The higher the level of financial literacy a person has, the more his personal beliefs and values overshadow him and influence his decisions to carry out or not carry out financial activities. Also, emotional intelligence can improve a person's power in strengthening, acquiring and applying financial literacy and its role in financial decisions and behaviors. In addition, paying attention to moral values along with strengthening financial literacy makes students perform beliefs.

Investor sentiment relates to investors' subjective beliefs about cash flows and investment risks. This type of sentiment has a consistent effect on stock prices. Ownership and governance factors may play a critical role in corporate risk reporting because managers for shareholders prepare annual reports. The main purpose of the current research is the relationship between the quality of internal and external corporate governance and the risk Sentiment of annual reports. For this purpose, 130 companies admitted to the Tehran Stock Exchange between 2008 and 2022 were selected by the systematic elimination method, and in order to increase the degree of confidence in the results of the hypothesis test, the regression method of static and dynamic panel data was used. To measure the sense of risk, the vocabulary frequency method has been used. According to the research findings, in both static and dynamic states, weak corporate governance has a positive relationship with risk Sentiment and strong corporate governance has a negative relationship with risk Sentiment. In addition, the Hirschman index variable has no relationship with risk perception. The existence of internal and external corporate governance reduces inefficient investments and makes managers make optimal and efficient investment decisions.

Investor sentiments are related to investors' subjective beliefs about cash flows and investment risks. The present study was conducted to investigate the impact of the company's financial risk on the risk sentiment of annual reports in companies listed on the Tehran Stock Exchange. To test the hypothese, 130 companies were selected as the sample between 2008 and 2021 and analyzed using the regression method of static and dynamic panel data. To evaluate the company's financial risk, the criteria of financial leverage, company size, and current ratio were used, and the frequency of vocabulary method was used to measure the risk sentiment of annual reports. The results showed that the variables of financial leverage and current ratio have a positive and significant effect on the risk sentiment of annual reports. However, the size of the company has a negative and significant effect on the risk sentiment in annual reports. The results also showed that in addition to the risky tone of the words and sentences in the description of the financial statements, the numbers and figures of the financial statements also affect the investors' risk sentiment.

One of the most important and vital categories of any organization is the existence of a financial manager with high ability and skill. Financial capabilities and skills make financial managers able to understand the language of finance and take ownership of the financial performance of their departments. Being competent in the art of managing the finances of any organization is a vital discipline to create and maintain financial stability. The existence of management and its various metrics is considered one of the dimensions of organizational capital, therefore, considering the importance of the ability of financial managers; The current research deals with developing the knowledge capability model of financial managers of executive bodies. In this research, among the combined qualitative-qualitative research methods, the phenomenological method was used to examine the knowledge ability of financial managers. 15 experts in this field were selected for data collection by purposeful sampling and a semi-structured interview was conducted with them and 67 propositions (indicators) were extracted from the extracted codes according to Atride-Stirling (2001) thematic analysis method, 17 basic themes. And 7 organizing themes and 2 comprehensive themes including specialized and financial knowledge and general knowledge and management were extracted. The research findings show that the knowledge ability of financial managers plays a key role in improving resource management in companies and its inefficiency will be challenging. The model compiled in this research is the first coherent model in the field of knowledge ability of managers and can have useful effects in government organizations.

Disclosure of the business model in annual reports by companies is a method for improving the usefulness of information and transferring information related to the performance of the company's strategy and its effects on the stakeholders, so the purpose of this research is to identify the dimensions and components of the disclosure of the business model in annual reports.

This research in 2022 has evaluated and systematically analyzed the results and findings of previous researches with a qualitative approach and a metasynthesis tool. In this research, a total of 166 articles were extracted and analyzed, and after analyzing the desired components, 45 articles were finalized. Using the Shannon entropy quantitative method, based on the content analysis approach, the effect coefficients of the components identified in the finalized studies were determined.

The findings indicate that the business model disclosure in annual reports is classified into 20 components and 88 codes. Among the identified components, the point of differentiation of the company, financial and non-financial performance are more important than other components.

Finally, the business model disclosure model in annual reports has high reliability and can be used in order to be accountable to the stakeholders.

Contribution: 

This research, by comprehensively examining the factors affecting the disclosure of the business model, provides a new perspective in examining the drivers of annual reports to the users of the research results and improves the awareness of the stakeholders in identifying the drivers and factors affecting this type of reporting.

financial managers are an important element in the success of any organization, whose main responsibility is to supervise the financial affairs and advise on the ideas and perspectives of an organization, therefore, understanding the knowledge and skills they need is very important, and this research aims to provide a compilation and the validation of the tool for measuring the knowledge ability of financial managers of executive bodies has been done.

In terms of the practical purpose of this research, with the help of interviews and questionnaires, the dimensions were first identified, and then the important dimensions and components were determined according to the fuzzy Delphi method, and with the help of the AHP method, the weight of each dimension was determined, then the number of initial questions related to Each dimension was designed and 72 questions were designed by interviewing experts. Then, with the fuzzy Delphi technique, a questionnaire consisting of 53 questions was accepted in two fuzzy stages by obtaining the opinion of 15 financial experts of the country (as a Delphi panel) and was compiled as a tool for measuring the financial knowledge of financial managers of executive bodies. The reliability of the questions was confirmed by Cronbach's alpha coefficient and validity by referring again to the experts.

In all the indicators extracted from the literature review, the average difference is less than 0.2, so it can be concluded that a sufficient consensus has been reached between the experts. Also, among 72 questions, 53 questions have earned a "good score.

The results have shown that this indigenous and compiled tool can be used to measure the ability of financial knowledge of executive bodies.

Small and medium enterprises significantly lead to the improvement of economic and social systems and can make the economy stronger. Small and medium-sized companies contribute more to economic growth than large companies because they can respond to changes faster. However, the most important problem for the growth and competitiveness of small and medium enterprises in some developed and developing countries is the financing problem. From the point of view of starting a business, financial literacy is the ability to properly examine financial resources in the business life cycle, which is directly related to products and services. Financial literacy refers to the effectiveness of financial management decisions. Financial literacy requires knowledge, skill, attitude, and experience, and its purpose is to maintain the life of the company, maximize profit, maximize sales, gain market share, minimize employee turnover, minimize internal conflict, and maximize shareholder wealth. Financial literacy can be one of the strategic tools for optimal allocation of financial resources and financial strength of the company. Financial literacy is the proper knowledge of personal financial facts and the main factor in personal financial management. Competitive advantage is a situation that enables a company to offer higher quality products with higher efficiency and use superior methods and earn more profit in competition with competitors. Paying attention to the four factors of superior performance, quality, innovation and customer response, which helps the company to create and maintain a competitive advantage, is very important. Currently, due to the intensification of environmental complexity and competition, competitive advantage is either easily imitated by competitors or soon fades for customers. Accordingly, companies should think of replacing new advantages. The main goal of the organization is to create a competitive advantage by relying on the resources and capabilities it has, competitiveness and achieving a privileged position in the market.The results of empirical research show that financial literacy affects the performance of companies. With such an approach, this research examines the relationship between financial literacy and competitive advantage in small and medium-sized companies. The current research is applied in terms of purpose, descriptive and correlational in terms of method, and survey and cross-sectional in terms of data collection method, and the data collection tool is a questionnaire. The current research questionnaire consists of two sections: general questions and specialized questions. Specialized questions include questions related to independent, mediating and dependent variables and include five dimensions of financial literacy, financial decisions, capital structure, risk management and competitive advantage. To measure the variables, the questionnaire taken from the study of Nuhong et al. (2019) was used and financial literacy with 5 items, financial decisions with 3 items, capital structure with 3 items, risk management with 3 items and competitive advantage with 5 items were evaluated. The statistics of the research are made up of small and medium companies in Yazd city, for sampling, a simple random sampling method was used, and to determine the sample size, Quakran's formula for structural equation modeling was used. The results of the analysis of 392 supplementary questionnaires using structural equation modeling in PLS software show that the mediating role of financial decisions, capital structure and risk management is accepted in the relationship between financial literacy and competitive advantage, and financial literacy comes from different channels including financial decisions, capital structure and risk management. It leads to the strengthening of competitive advantage. The results of the research are in line with the results of the studies of Kimando et al. (2016), Arinda (2019) and Ishtiaq et al. (2020) that financial literacy has a significant effect on the financial performance of companies. Also, the research results are consistent with the results of the studies of Nuhong et al. (2019), Razmi et al. (2019) and Razmi et al. (2021) that financial literacy leads to competitive advantage. According to the results, small and medium-sized companies are suggested to pay attention to the financial literacy of managers and company employees. In this regard, managers and employees can increase their financial literacy by studying financial resources. Also, familiarity with capital management tools and using these tools can help them. In addition, it is suggested that managers and employees actively participate in training courses related to financial literacy (face-to-face or online). Also, researchers are suggested to repeat this issue in other cities and pay attention to other factors affecting competitive advantage.

Nowadays, the use of new and efficient tools for financing economic enterprises is very important. Since most of the new financing tools are offered and distributed through financial markets, they play an important role in turning the wheels of economic progress. In such a way that their development and proper functioning can have significant effects on the development of financial markets and economic growth. Accordingly, the main goal of this research is to identify the factors affecting the financing of startup companies through the capital market. . The statistical population of the research was compiled in the group. The first group included experts, 10 of whom were selected from the managers and experts of startup companies, and the second group was all the employees of startup companies, 247 of whom were selected using Cochran's formula. We used the AHP method to prioritize the identified factors. The results showed that among the identified factors, economic factors are in the first place and have the highest priority, the state of the industry with a normal weight of 0.141 is in the second priority. And scientific factors with a normal weight of 0.125 are in the third priority. Also, factors related to the location of companies are in the last priority.