seyed fakhreddin fakhrehosseini

The household, as a fundamental institution in any society and within the cycle of the national economy, serves on one hand as a supplier of labor to firms in the factor markets, and on the other hand as a consumer of final goods and services in these markets. This study aims to estimate the economic value of household activities performed by women living in informal settlements in Sanandaj County. The Heckman two-step approach was used in this research. The statistical sample includes 193 women from informal settlements in Sanandaj County. Based on the results of this study, with each unit increase in women's education level, their wages increase by 0.09%. Additionally, a one-unit increase in market wage rates results in a 0.0003% increase in individual earnings. Moreover, the findings indicate that the estimated potential monthly wage for women in this county is 2,752,000 Tomans. The study also estimates that the value added from household work by women living in informal settlements in Sanandaj County constitutes approximately 4.77% (13,986 billion Rials) of Kurdistan Province's Gross Domestic Product (GDP). The research results showed that training programs had a positive effect on household income, and participants in these programs were willing to pay for them to empower themselves. Therefore, it can be concluded that the training programs were successful from the perspective of the women as well. Based on these findings, policy-making focused on education for the empowerment of women and other residents of informal settlements is recommended.

Gold tradable funds on the Tehran Capital Market are a new tool that allows investors to invest in gold without physically buying it, which creates a safe investment option with returns close to gold.

This study analyzed seven gold funds from the point of view of tracking error and the double-beta model under two bullish and bearish market regimes. Fund data for the period 2015- 2023 were extracted with daily frequency and analyzed with univariate and multivariate regression models.

The results obtained from the regression analysis show that tracking efficiency is different in the two market regimes, while it is less in the bullish market regime. This situation shows that the pricing of gold ETFs is more dynamic in a bull market regime. The results also show that the alpha coefficients of ETFs in some funds in the down market are negative and not significant, which indicates the low performance of this fund under the down market conditions, while the alpha in the funds in the up market regime indicates that the proper performance of this fund in the market is bullish. The beta coefficients of gold ETFs are significantly different from the beta coefficient of the model index in the down market for only two funds, Zarafam and Mesghal, and in the up market for all funds, indicating that the yield of the funds is not affected by the model index. In addition, by examining the two regimes of the rising and falling markets, the results obtained from the regression model show that the tracking efficiency in the two market regimes is different in terms of influence on most funds, as the tracking error in gold funds is influenced by factors such as the volume of transactions. (liquidity), daily fluctuations (noise), and absolute value of price deviation (arbitrage).

Originality/Value:

 Unlike mutual funds, which are evaluated based on risk and return criteria, an investor should choose and select investments by considering how far the fund can follow its model index.

The basis for decision-makers in securities markets is information provided by publishers and intermediaries active in these markets. The use of this information, in other words, the correct decision in the securities market, is possible when the information is timely, relevant, relevant, and complete and comprehensible. The purpose of this paper is to examine the linear relationship between earnings management and the disclosure of financial information with True financial performance (TFP) in listed companies in Tehran Stock Exchange. Based on this, financial information of 94 companies accepted in the capital market of Iran during the period from 2011 to 2016 has been tested. The results showed that earnings management has a positive and significant relationship with asset returns and has no significant effect on return on equity. The results show that there is a non-linear and significant relationship between the disclosure and the True performance of the company, which indicates that necessarily increasing disclosure does not improve the performance of the company.

The need for and attention to the future and their relevance has been repeatedly discussed in our markets and the subject of forecasting is a unique factor that estimates future unknown values. Given the importance of forecasting in financial research, stock return predictions have so far been tested through various models and variables. Most of these variables, were external variables based on macroeconomic variables in addition to internal variables. In the light of the above, the present article reviews and empirically investigates some of the most important macroeconomic variables that were previously used in a variety of stock return forecasting models. The results of the paper show that macroeconomic variables effective on the stock market (stock return or market index) are suitable for modeling to predict stock returns. In the stock market of our country, the results of the impact of these variables on stock returns have been similar in some respects and contradictory in other respects, and the reasons can be attributed to the type of forecasting models, the time period of the research and different economic structure of the country.

Over the past decades, financial researchers have proposed different methods in portfolio selection, so that, Markwotiz [1] introduced risk and return criteria for a portfolio selection. Since it is difficult how to select an adequate stock portfolio, fuzzy models have been able to help researchers by considering uncertainty. In this research, we surveyed a portfolio management by reviewing the relevant literature of fuzzy model in financial management. The results showed that a fuzzy model can to determine an optimal portfolio.

The present study through a Dynamic Stochastic General Equilibrium (DSGE) Model and considering some of the observed facts in Iran's economy attempts to simulate the effects of oil and currency shocks on systematic risk and price returns and then the linear-logarithmic form of the equations was obtained after optimization and obtaining first-order brokers' conditions with using the Uhlig method. Examined samples collected from seasonal data from 2002 to 2016. In the end, the immediate reaction functions of the financial variables against oil revenue and currency shocks were investigated. The results of the research show that oil and currency shock initially have a negative effect on the systematic risk of stock and price returns, and then in the subsequent periods of this trend, they continue to fluctuate in a stable and stable state, so that the systematic risk fluctuations are greater than price return. Also, the Iranian economy shows the relative success of the model in the realities of the Iranian economy which determine by comparing the moments of the variables present in the model and the moments of the actual data.

The present paper presents the possibility of predicting firms' bankruptcy with Sprint, Altman, Fulmer, Zmijewski and Mckee Genetic models among companies in the Tehran Stock Exchange in a different way from previous research to introduce companies which have the potential for higher bankruptcy with a comparative approach among the models. To achieve this goal, 75 companies that are selected not covered base on 141 of the Commercial law. Required data for the 10 years (86-95) has been compiled. According to the results in each of the above models, some companies were identified as high-risk probability companies, and then companies that were identified as most likely to be bankrupt in most of these models. The results also show that, with the exception of Mckee model, in four other models, three companies with high bankruptcy probability were included. Among these four models, Zmijewski model has a higher coefficient of determination, hence we can say that relative to Other models have been more accurately predicted for bankruptcy and have a significant role in corporate bankruptcy among financial ratios, debt ratios, asset turnover, and asset returns.

This article shows that Operations research techniques play an important role in the development researches of financial and investment, and in recent years, with significant improvements in terms of the availability of real-time data and the speed of computer, this role has increased and in line with it by creating more opportunities for these techniques, more importance has been given to research and output. Given the importance of the issue today, there is a two-way relationship between financial concepts and investment with operational research techniques, that is, as various techniques of research in operations for financial affairs have been used, financial theories also require the development and improvement of solution Operations research techniques.The present paper shows that depending on the type of decision making in the field of finance and investment through research results, these techniques, in addition to raising the accuracy of the results of financial research, can lead to a greater variety of research, especially for the fields Financial engineering.

The expansion of production and development in the industrial sector is due to increase the investment on the activity of this sector. On one hand limits of the financial resources to the investment and high risk of investments in industrial and production activities, and by the other hand, the frequency of necessities and goals is inevitable to planning and priorities of investment. This study wants to provide optimize pattern by attention to the condition of risk and uncertainty and fluctuations in supply and demand market of industry, to determine priorities and economics feasibility to the investment in this sector. This study will examine its purpose in three scenarios (optimistic, pessimistic and uncertain market). The model used in this study is a fuzzy multi-criteria decision method. This research has been made for Mazandaran Province from 2005 to 2010. The results of this research involve the investment criteria and specify the priority of these sectors. The final results of this study indicate that in conductions of uncertainty and volatility of market, the current pattern of investment in the industrial sector was not optimal and needs to be adjusted in the percentages and amounts of investment.

The main aim of this is to survey the effect of real exchange rate changed on real gross domestic product in selected countries. Edwards (1986) model have been considered for this survey. Panel data is used for the period 1993-2010. Im Pesaran، Shin stationary، and Pedroni and Kao co ntigration tests are used to verify the existence of long run relationship among variables. Based on Hausman test، fixed effect model for Panel data is used. The estimated coefficient is statistically significant positive for the effect of devaluation on output. The results show the effect of monetary and fiscal policies on output is positive.