efficiency

The banking industry is one of the most important sectors of any economy, because banks are the main pillars of financial markets, along with the stock market and insurance, as an intermediary for financial resources.The aim of this study is to investigate the interrelationships between risk, competition and efficiency among banks. The current research is applied and from the methodological point of view, the correlation is causal type (post-event). The statistical population of the research was all the banks admitted to the Tehran Stock Exchange, and finally 13 banks were selected as the sample of the research and were examined in a period of 9 years between 1392 and 1400. The approach used in this research is regression using simultaneous equations. Six hypotheses were proposed in the present study. The results of the research hypotheses test showed that there is a reciprocal relationship between risk and banking competition. Also, there is an inverse relationship between efficiency and risk of banks, and finally, there is a positive relationship between efficiency and banking competition.

The objective of the study is to investigate the behavioral characteristics of management style on the efficiency and evaluation of economic and financial performance in the public sector.

This research is an applied in purpose and a descriptive survey method. The statistical population is public sector managers which was selected as a sample of 104 people. A standard questionnaire was used to collect information and the structural equation method(SEM) was used to test the hypotheses.

The findings of the research demonstrated that behavioral characteristics have an effect on performance evaluation using the mediating role of efficiency in the public sector. Management styles have an effect on performance evaluation using the mediating role of efficiency in the public sector. Behavioral characteristics affect performance evaluation in the public sector. Management style affects performance evaluation in the public sector. Behavioral characteristics affect efficiency in the public sector. Management style affects efficiency in the public sector. Efficiency affects performance evaluation in the public sector. 

The purpose of this study is to investigating the relative efficiency of commercial banks in the Iraqi Stock Market using Data Envelopment Analysis method.

Design/methodology/approach: 

Commercial banks in the Iraqi stock market were used to test the hypotheses. The final sample covers 11 banks between 2015 and 2022. In this model of data envelopment analysis, the hypothetical unit that is on the efficiency limit is called the virtual unit. The value of λ indicates the combination of reference units used to make the virtual unit of each unit. Then, the amount of excess input in each of the inefficient units and the amount of output deficiency in each of the inefficient units are calculated. Finally, the target values, which are the optimal input and output values, are calculated.

The proposed model that was applied to commercial banks in the Iraqi stock market in the desired period of time, adopts a limited approach to target unit weights for DEA which resulted in the target values that is the optimal values of inputs and outputs.

Originality/value: 

In the banking sector, the relationship between inputs and outputs is complex. Therefore, by strategic selecting, the optimal weights of the input and output, we can optimizing the efficiency of the decision units (DMU). This method effectively examines the complexities related to the inputs and outputs of homogeneous units using conventional data envelopment analysis (DEA) models to evaluate the efficiency of these units. In addition, this paper further advances the literature by examining the relative efficiency of commercial banks in the Iraqi stock market in the context of the emerging market, Iraq.

This research investigates the effect of financial health and macroeconomic indicators on the profitability, efficiency and productivity of Iran’s banks. The statistical population in this research is private and government banks listed on the Tehran Stock Exchange. For this purpose, 20 banks were studied during the period 2013-2021, using the panel data method. The results of the data analysis show that the capital adequacy ratio has a negative and significant effect on the efficiency of the studied banks. Conversely, the quality of the bank's assets, the quality of the bank's management, and the quality of the bank's liquidity have a positive and significant effect on the technical efficiency of the bank. Moreover, the results indicate that interest rate, inflation rate, exchange rate and GDP per capita, as macroeconomic indicators, have a positive and significant effect on the technical efficiency of the bank. Financial health indicators such as capital adequacy ratio, bank assets, bank management quality and liquidity quality have a positive and significant effect on bank profitability and productivity. Macroeconomic indicators such as interest rate, inflation rate, exchange rate and GDP per capita affect positively and significantly the bank's profitability and productivity, while the exchange rate shows a negative and significant effect.

In today's context, developing countries which actively seek to resist against the global systems of domination and preserve their identity, ideals and values, necessarily find themselves in need of developing their defense foundations. However, governmental budgetary resources of these countries are often inadequate for meeting the exigencies of defense and security sectors. Yet, a preliminary examination of the defense industries of these countries often highlights the low efficiency with which the economic assets and capacities currently at the disposal of the armed forces are utilized. It is therefore necessary to increase the efficiency and effectiveness of strategies in order to maintain an active deterrence against the global systems domination. These issues bring to the fore the need for an economic revolution in the armed forces in order to firstly, generate income and provide resources for the defense sector, and secondly, make the economy of the armed forces more efficient, and thus, strengthen the national economy. The objective of this study is to delineate what such an economic revolution in the economy of the defense sector would entail and, for this purpose, it seeks to identify and classify the effective factors involved. In terms of research methodology this study can be classified as a descriptive-survey and the methodology of this paper relies on library and field methods. For this purpose, modus operandi of this study was to conduct field interviews with experts in the armed forces, further utilizing questionnaires for data collection. Thereafter, in order to ensure of the reliability of the questionnaire the study conducted the "Cronbach's alpha" test, and subsequently, factor analysis techniques were employed to measure the validity of the construct. In order to analyze the collected data, the study relied on statistical methods such as the "T-Student" test and analysis of variance, and finally, the hierarchical analysis approach was utilized to determine the weights of the factors.The results of this research showed that - ranked by the order of importance - income generation and supply of resources required by the defense sector, increasing the efficiency of the economic management of the armed forces, and strengthening the national economy, are in turn variables that influence the economic revolution of the armed forces.

An exchange-traded fund (ETF) is a major innovation in all global financial markets since the first of these funds was launched in 1989 in the Canadian stock market. It was then introduced to the US market in 1993. In our country, too, we are at the turning point of launching investment funds from 1992 onwards. The purpose of this study is to evaluate the pricing efficiency of government funds with the approach of positivist-deductive research philosophy in which data are collected, analyzed, and interpreted to examine the answers to questions. Ordinary least squares (OLS) regression has been used to analyze pricing efficiency and sustainability. The results show that government ETFs are not well designed for investors due to diversity and are probably not marketable well due to low trading volume and market price delays in reflecting net asset value (NAV). On the other hand, these funds are traded at a lower value than their NAVs on average, and the deviation of ETF prices from NAV (permium or discount) for the financial intermediation fund until the third day and for the refining fund until the second day from It does not disappear. The results also showed that between the volume of government ETF transactions and deviations; there was a positive and significant relationship between ETF returns and simultaneous deviations and finally a negative and significant relationship between returns and deviations with interruption. These findings can be interpreted as evidence of the weak-form efficiency of government ETFs.

In this paper, the efficiency of the private sector response to the economic-political changes of Iran's public sector in the areas of immigration, capital flight and population growth rate change has been investigated, during the forty-four years after the Islamic Revolution. For this purpose, the private sector in every year has been considered as an independent decisionmaking unit, and its response efficiency has been calculated using the data envelopment analysis. Political stability, economic stability, political development and economic development are used as the inputs and migration, capital flight and population growth rate change are used as the outputs of this decision making unit. This paper, has been used the Mann-Whitney test to prove the meaningfully of the private sector's reaction efficiency changes. The results of this research show that the efficiency of the private sector reaction has been meaningful throughout the investigation period, and this efficiency has been increased in the first and second decades after the revolution, comparing with itself, and it has been almost stable, after reaching the maximum.

The influence of the type of political structure on the emergence of the resource curse is one of the most important topics that have been discussed about this phenomenon. Most researches have concluded that democracy can prevent the emergence of the resource curse, and vice versa, dictatorial and autocratic systems provide the conditions for the emergence of the resource curse. Of course, the reverse of this relationship has also been discussed, that is, the curse of resources can be an obstacle to democracy and instead a source of dictatorship. Oil revenues in particular and natural resources in general have changed and complicated the institutional relations between the state and the society. The interaction between state and society in oil countries is fluctuating between tyranny and oil democracy. Using two methods of stochastic frontier analysis (SFA) and game theory, the present research shows how natural resource revenues interact with political stability and the voice and accountability, and influence inefficiency and minimize the possibilities of realizing democracy in these countries. Based on this, the oil countries must simultaneously reduce their dependence on oil revenues and, on the other hand, improve structural and institutional reforms.

The architecture of a sound tax system should be designed to enhance government revenue, minimize borrowing requirements, and simultaneously avoid discouraging economic activity. Tax exemptions constitute a legal mechanism that exempts specific income and capital sources from temporary or permanent tax obligations. Primarily employed as a tool to implement government support policies, tax exemptions aim to channel societal liquidity towards high-risk, non-profit, or low-yield ventures. Reducing dependence on oil revenues, a critical strategy for achieving sustainable economic development and growth, necessitates reforms to the existing inefficient tax system. Establishing a clear, stable, and predictable legal and regulatory framework for the tax system, including transparent and efficient tax exemptions and incentives, is paramount for fostering sustainable investment. Effective tax exemptions exhibit three key characteristics: they are targeted, conditional, and time-bound. However, the proliferation of numerous tax exemptions within the Iranian economy, coupled with the observed inefficiency across various sectors, including agriculture, has presented several challenges. These include: diminished government tax revenue; limited access to accurate financial and economic data pertaining to tax-exempt activities; increased scope for tax avoidance and evasion; and dispersed tax exemptions across numerous laws, leading to a surge in requests for the utilization or extension of exemptions. This research investigates the concept of tax exemptions, identifies the types of exemptions approved within existing laws and regulations, and proposes recommendations for their effective organization.

The state of development of technology in today's world is such that the development process and the future of the world in the field of technology cannot be accurately predicted. In the meantime, blockchain technology has been highly regarded as a revolutionary technology. This technology is a protocol that allows information to be exchanged directly between contracting parties in a network without the need for intermediaries. Blockchain has been one of the most important technology trends in recent years, and banking is one of those sectors that many experts believe will accept major changes from blockchain technology. Considering the revolutionary impact that blockchain technology can have on the banking system, it will be very important to examine the impact of this technology on the banking system, which represents how to create, present and acquire value in this sector. The purpose of this research is to investigate the impact of this technology in the banking system. In order to achieve this goal, the method of data collection is the type of document-library research and sample statistics, and it is quantitative-qualitative in nature, and the method is a survey, and the tools used are questionnaires and field observations. According to this research, it confirms the effectiveness of blockchain technology on the banking system. Finally, considering that blockchain technology will challenge almost all the core sectors of the banking system, it is necessary for banks to adopt a suitable strategy to deal with the threats and use the opportunities resulting from this technology.

In the value added tax system, the purchases of each company are announced to it by the seller company. Therefore, if a company declares the tax less than the limit, or does not pay the relevant tax, this tax will be transferred to the next buyer, for this reason, all buyers and sellers will be placed in a self-control system. And this makes all companies register in the value added tax system. But its income performance can be weakened in the case of informal labor conditions. Because the incomes from informal labor activities are hidden and not reported. Informal labor has a two-way effect on value added tax revenues, because just as informal labor has an effect on value added tax revenues, value added tax can also have an effect on informal labor. The purpose of this study is to investigate the asymmetric effect of informal labor on value added tax revenues in Iran's provinces using panel data in the years 2010 to 2018. The obtained results show that the relationship between informal labor and value added tax income is initially positive and after reaching a certain threshold level, the relationship becomes negative, which means that informal labor has a threshold point on value added tax income. Also, the results showed that the relationship between value added tax revenues and unemployment rate is negative and significant, and the relationship between value added tax revenues and population and GDP is positive and significant. Based on the obtained coefficients, the relationship between the value added tax of the previous period and the value added tax of thecurrent period is positive and significant. Also, the results show that the informal workforce is different in terms of size, and the effect on value added tax revenues in different provinces of Iran. An increase in the tax rate can generate less additional revenues than expected, and this is due to the mixed effect of informal labor, which results in a reduction of the VAT self-enforcement mechanism

Unlike conventional banking, whose the main goal is to maximize profits based on the loans granted, Islamic banks operate based on the laws and rules of Islamic jurisprudence, in which the use of interest is prohibited. It was precisely due to this characteristic of Islamic banking that many experts were hesitant about its continued existence when the first Islamic bank was established in 1963 and predicted that interest-free banking would not last long. Despite these doubts, Islamic banks are now the fastest growing and developing financial industry in the world.
The basic question here is whether Islamic banking can meet the monetary and banking needs of the economy despite conventional banking? Do Islamic banks have the necessary stability and efficiency? In general, factors such as the ceiling of granted loans, rate of return on assets, rate of return on shares, value of bank assets,diferent types of bank expenses and various other factors can cause differences in the efficiency and performance of banks. Answering to these questions requires investigating the performance of Islamic banking compared to conventional banking.
In order to investigate the performance of Islamic banking compared to conventional banking, we used four different approaches: Data Envelopment Analysis (DEA), Stochastic Frontier Analysis (SFA), Markowitz Model, and Capital Asset Pricing Model (CAPM). DEA approach is one of the non-parametric methods based on mathematical methods and linear programming to measure the efficiency of decision-making units. In contrast, SFA is a parametric method based on econometrics and production function estimation to evaulate the efficiency of decision making units. Then we used the Markowitz model to obtain the optimal rate of return of banking stocks and unsystematic risk, as well as CAPM to find the optimal rate of return of banking stocks and systematic risk.

In order to evaluate the technical efficiency of banks based on DEA and SFA methods, the input and output variables of each model have been introduced, which include three input variables and three output variables in DEA method and three input variables with an output variable in SFA method. In the next stage, the following steps were taken to perform the Markowitz model optimization process:Some classes of the assets that are considered to be invested must be selected and according to the limitations of the Markowitz model and considerations related to the selection of variables, and collection of the research statistical sample, during developing the appropriate mathematical and statistical model, the optimization process is performed.
Expected returns are estimated for each class of assets.
The risk of each class of assets is estimated.
The process of optimization and graphical structure are performed to find the efficient frontier, based on which, the set of efficient and profitable assets is determined.
By implementing the mentioned steps and using the time series data related to the rate of return on shares of each of the banks from 2012 to 2020, the average and standard deviation related to the rate of return on the assets of each of the banks in both Islamic and conventional banking systems was measured and then the efficient frontier curve was extracted for Islamic and conventional banks. Finally, to apply the CAPM and calculate the systematic risk of banks, the value of bank shares was used for this purpose. Due to the statistical limitations in this field where the necessary data was not available for all 40 investigated banks, and on the other hand it was necessary to use the monthly return rates of these data, therefore subject to the DEA and SFA results, 5 banks from the Islamic banking system and 5 banks from the conventional banking system were selected. Then, according to the data of the monthly stock returns of each of these 10 banks since the second month of 2012 through the end of 2020 with 107 observations, the performance of both banking systems based on the CAPM and estimating the systematic risk rate for each bank was compared. For this purpose, we considered the regression model as Where  is the rate of return for asset i during period t,  is the rate of return for the market portfolio M during t,  (also called excess return) is the difference between estimated return and expected return,  is the beta coefficient and 𝜀 is the error term. To estimate above regression for the selected banks, we used the monthly return rates of the MSCI global index as , since the beginning of 2012 through the end of 2020  and the monthly stock return rates as   for each of the banks. First, this regression was performed for the portfolio of Islamic banks and conventional banks, and then we repeated it for each selected bank, and accordingly, the beta coefficients related to the stock portfolio of conventional and Islamic banks, as well as each of the selected banks, were calculated.

The average efficiency of Islamic banks in data DEA and SFA models was evaluated as 74% and 56.15% respectively, and for conventional banks as 69.5% and 48.13% respectively. By implementing the Markowitz model during the period 2012-2020, the average and standard deviation of Islamic banks' stock returns were calculated as 0.76% and 4.09% respectively, and for conventional banks as 0.68% and 6.35% respectively. Next, by developing ten optimization problems, ten pairs of optimal stock returns and their corresponding risk rates were calculated for each of the two Islamic and conventional banking systems, and accordingly, the efficient frontier curve for each of these two systems was extracted. The average correlation coefficients of stock return rates for two Islamic and conventional banking systems were calculated as 40.4% and 44.1%, respectively, which indicates the  lower amount for the Islamic banking system compared to conventional one. Finally, so as to implement the CAPM for measuring the beta coefficient for Islamic and conventional portfolios, firstly this regression was estimated for the portfolios of Islamic banks and conventional banks. The results are compiled in Table No. (1).

This article aims to assess the efficiency of 15 stock market banks over the period 2014-2022. Utilizing non-parametric radial efficiency (Debreu-Farrell efficiency) and non-radial efficiency (Russell efficiency) methods, we analyze constant, non-increasing, and variable return-to-scale technologies. Recognizing limitations within radial methods, bias-corrected technical efficiency is also estimated using bootstrap data envelopment analysis. Radial analysis reveals inefficiency among all banks except for the Middle East bank. The average Debreu-Farrell efficiency stands at 77% under constant return to scale and 82% under variable return to scale, while the average Russell efficiency is 58% and 67% respectively. These results suggest slack in Debreu-Farrell efficiency. Bootstrap efficiency findings reveal underestimation in both radial and non-radial efficiency, thereby overstating actual efficiency levels. Bias-corrected radial technical efficiency scores from the bootstrap approach indicate inefficiency across all banks, with Dey and Sarmaye banks exhibiting particularly poor performance. Thus, adopting appropriate strategies such as non-performing loan management, increased non-interest incomes, and reduced operational costs is imperative to enhance efficiency.

One of the basic criteria for making decisions in the stock market is stock returns. Stock returns can be affected by risk. Risk is statistically divided into explained (systematic) and unexplained (unsystematic) groups. The present study was conducted with the aim of measuring the efficiency of stock returns based on risk in petrochemical industries by the fuzzy dynamic network data envelopment analysis method. The statistical sample studied are 10 petrochemical companies admitted to the Tehran Stock Exchange. Data analysis was done in two parts. In the first step, systematic and unsystematic risk for entering the network were calculated. In the second stage, using fuzzy dynamic network data coverage analysis, the efficiency of stock returns for petrochemical industries of Tehran Stock Exchange was measured in the period of 2019 to 2019. Based on the obtained results, three petrochemical companies Maron, Jam Petrochemical and Zagros Petrochemical have higher efficiency than other petrochemical companies. Therefore, the three mentioned companies were more controllable for systematic and unsystematic risk among the companies.

Taxation is one of the issues that are considered by various organizations and society and tax avoidance is a kind of use of legal gaps in tax laws to reduce taxes; the purpose of this study is to investigate the factors affecting tax avoidance using a hybrid approach (Metasynthesis). For this purpose, this research in 2022 with a qualitative approach and meta-synthesis tools, has systematically evaluated and analyzed the results and findings of previous research. In this study, a total of 170 articles were extracted and reviewed, and after analyzing the components, 52 articles were finalized. Findings of this study led to the identification of dual dimensions in the form of 30 variables including extra-organizational and extra-organizational factors. Finally, using the Shannon quantitative entropy method, based on the content analysis approach, the effect coefficients of the components identified in the finalized research were determined. Findings showed that the most important indicators affecting corporate tax evasion are concentration of ownership, percentage of dividends and tax reputation; Factors such as inefficiency of labor investment; Social responsibility and the size of the auditing firm have the lowest rank; This means that among the various models and researches studied, less attention has been paid to these issues and their reproducibility.

Reviewing the efficiency of banks as one of the most important pillars of each country's financial markets is one of the essential steps to achieve economic growth and development. Banks, as the most important monetary market entity, have played a very important role in the economy of each country, and measuring the efficiency of banks is of particular importance given their role and the rapid reflection of the policies of this sector in the entire economy of the country. Accordingly, the purpose of this study was to measure the efficiency of selected private banks (modern economy, Pasargadae, capital, exports, nation, trade and welfare) and government (national, export development, industry and mining) during the study period (1393-1395). Be To achieve this goal, two nonparametric approaches (data coverage analysis) and a parametric approach (border production function) have been used using value added and earnings method. The findings confirm the main hypothesis. In the study period, private banks were more efficient than government banks. Regardless of the income approach of the data coverage analysis method, the second hypothesis of the research was that the outcomes of the approaches were similar Parametric and nonparametric is also confirmed.