جستجوی مقالات مرتبط با کلیدواژه « دولت » در نشریات گروه « مالی »

Financial distress is impact by several financial and accounting factors, which can be referred to earning management and ownership status. Therefore, in this study, the effect of earning management and government ownership on the financial distress is examined. In order to test the research hypotheses, in state-owned companies and firms listed in the Tehran Stock Exchange over the period 2014 to 2022 and using information of 462 firms, the results show that whenever government exercise significant influence in firms, it has an important effect on financial constraints. However, earnings management in companies with significant public sector influence does not have any impact on financial distress

Considering the highly competitive environment of companies, if a company cannot secure its necessary financial resources when needed, it may face challenges to continue its activities. In general, companies are concerned about their financing conditions from two aspects. Firstly, they are required to provide their financial resources sufficiently and at a low cost when necessary. Secondly, they need to pay off their debts. One of the factors that may affect the financing conditions of companies is political connections, which has received inadequate attention in the research literature. Having political connections is an important source of value for companies. Therefore, the purpose of the present study is to investigate political connections and whether or not and how this may impact on access to bank debts. For this purpose, 173 companies admitted to the Tehran Stock Exchange during the years 2016 to 2021 were investigated as the available statistical population. The findings showed that political connections have a positive effect on access to bank debts.

The capital market in any country is one of the symbols of economic prosperity or recession. In the period between September 2019 to August 2020, despite the economic recession in the country, the Iranian capital market experienced a growth of more than one million and five hundred thousand units in its index. One of the reasons was the encouragement offered by government officials headed by the then president Hassan Rouhani to enter the stock market. The unprecedented inflow of liquidity into the stock market and government support led the index to a remarkable growth in a short period of time. From early August 1399, the Iranian capital market began to decline; the index dropped from close to two million to about one million units. This was a shocking 50 percent drop in less than ten months, while the government still encouraged people to continue their presence in the capital market and promised that the situation would improve. This article seeks to analyze the speeches of the 11th and 12th president regarding the stock market throughout his administration and extract the basic signs of his discourse regarding the stock exchange by relying on prominence theory and Padam discourse analysis method. The findings indicate the existence of intra-discourse contradictions in three areas of the stock exchange and the government, the stock exchange and the economy, and the stock exchange and the people.

Floating rate issuance is one of the financial innovations that has attracted the attention of the ‎public and private sectors in recent decades. Basically, financiers are looking for access to less ‎expensive financial resources, and investors are also looking for high-yield, low-risk investment ‎opportunities. Accordingly, the design of this tool should be in a way to bring the utility of both ‎parties to a satisfactory point, which is provided according to the conditions, expectations and ‎economic policies. When the government enters as an economic policy maker, this issue takes on ‎other dimensions, so the issue of economic management of the country, management of ‎government debts and liabilities, the amount of money and liquidity, formation of interest rates in ‎the economy and its relationship with budget deficits, management of economic cycles and its ‎determination is of great importance that should be considered in the design of this tool. Treasury ‎inflation protected securities are a type of floating-rate securities that are often issued by ‎governments, so they need to be studied more carefully in order to be more localized. The present ‎article uses a descriptive-analytical method to examine the advantages and disadvantages of ‎issuing securities for the government. The results of this study show that the economic effects of ‎Treasury Inflation Protected Securities are very different from floating-rate securities, and given ‎the current economic situation of the country with high and variable inflation rates, treasury ‎inflation protected securities are recommended.‎

Preparing and editing the budget document is one of the most vital annual actions of governments. This document has a strategic role in making the government accountable for its duties, economic growth of the country, realization of social justice, planning at the macro level of the country and providing public services. In this qualitative research, the evaluation criteria of the budget document is considered and the question is raised, what are the evaluation criteria of the country's budget document? The participants of the current research were 18 managers, employees of the country's program and budget organization and university professors who were selected by snowball sampling and were subjected to in-depth and semi-structured interviews until theoretical saturation. After conducting each interview, its text was analyzed by theme analysis technique. In the end, the evaluation criteria of the country's budget document were identified in the form of 6 main themes of efficiency and effectiveness, alignment with laws and upstream documents, comprehensiveness, type of budgeting approach, prioritization of important issues of the country, and transparency along with 26 sub-themes and 77 codes.

Capital market strengthening and deepening can lead to economic growth and development, which Iranian governments have overlooked for years. We continue to face the conundrum that government decisions and actions obstruct capital market development while also increasing investment risk. Under these circumstances, it appears necessary to examine the relationship between Iran's government and the capital market. Accordingly, this study analyzed the performance and role of government in the development of the capital market (stock and security markets) over a 12-year period using qualitative and field methods, including designing a questionnaire for four groups, i.e., experts, managers, activists, and capital market expert reporters, as well as evaluating data using thematic analysis. The findings demonstrate that Iranian governments hampered capital market development from 2005 to 2017 due to a lack of understanding of capital market mechanisms, interference in market processes, and disruption of transparency, accountability, and corruption control mechanisms (good governance indicators). The only way out of the current situation appears to be the government's movement toward minimal capital market intervention.

One of the most common ways of compensating governments’ budget deficits is to issue government treasury securities. These documents are published so that they can be bought and sold in secondary markets. Due to the usury nature of the conventional treasury bonds, Islamic treasury bills have been proposed and institutionalized as an alternative to conventional treasury bills in the Islamic Republic of Iran. Islamic treasury bills are financial devices based on public sector accumulated debts to the banking system, contractors and some other general treasury debts that are issued by the Ministry of Economic Affairs and Finance on behalf of the government. Considering the experience of issuing Islamic treasury bills in financing the different needs of the government, identifying the functions and making an assessment of the jurisprudential aspects and explaining the various cases and examples of these bills, are among the objectives of the this study.    In this research, detailed dimensions of the Islamic treasury bills, including the definition of Islamic treasury bills, its types, characteristics and specifications, components and mechanism of its issuance are presented first. In the next phase, a descriptive-analytical method is employed to find out the primary and secondary markets of Islamic treasury bills, compensation for the devaluation of money in these bonds, the possibility to convert them into shares, and various types of Islamic treasury bills from the perspective of ownership union have been studied and analyzed from jurisprudential perspective.

One of the most arguable discussions in financial and investment scope is cash interest division of companies and has considered by the great numbers of economists and directors. Therefore, this article shall be study the relationship among shareholders, creditors and government considering to dividend policies approach to game theories.
Playing of three players is kind of pure Constant-sum gamer considering to Perfect Information and Non- zero sum game, and any of the players has three strategies in decreasing of paid cash interest and increasing and preserving of current status.  The balance point among three players is viewpoints that shareholders are tend to conserve current status and government and debtors tend to decreasing of cash interest.  But Board of Director members, managing directors and other directors are assigned directly or indirectly by the shareholders, therefore directors’ decisions may be different from balance point and it shall result in their viewpoints be considered more preferable than the others.