نشریه پژوهش های اقتصاد صنعتی
پیاپی 11 (بهار 1399)

Iran and some countries in the Middle East region due to their rich resources of oil, gas and gas condensate (food diversity), access to open and international waters and proximity to Asian and European markets have a comparative advantage in the petrochemical industry. However, maintaining the share of the global market for petrochemical exports and increasing it in today's highly competitive world only by resorting to comparative advantage is not possible, and success in this field requires achieving a competitive advantage. In this regard, the present study with the approach of panel data and generalized method of moments (GMM) to investigate the impact of globalization and development of entrepreneurial environment on the competitive advantage of the petrochemical industry in Iran and 5 countries UAE, Turkey, Saudi Arabia, Qatar and Kuwait during the period 2014-2018. the results showed that the indicators of globalization, political globalization, economic globalization and entrepreneurship have a positive and significant effect on the competitive advantage of the petrochemical industry of selected countries. In addition, globalization strengthens the positive effect of the entrepreneurial environment on the competitive advantage of the petrochemical industry. However, the impact of social globalization on the competitive advantage of the petrochemical industry was not confirmed. Also, other estimated results showed that infrastructure and macroeconomic environment stability have a positive and significant effect on the competitive advantage of the petrochemical industry.

Water shortage in Iran is one of the main limiting factors for the development of economic activities in the next decades. Therefore, the main purpose of this study is to estimate the water demand function in Iran's manufacturing industries. For this purpose, the Translog Cost Function has been used. The data used in this research are related to Iran's manufacturing industries during the years 2002 to 2017. The results of model processing show that in all Allen partial elasticity has the correct and expected negative sign. In other words, the inverse relationship between price and demand for water in terms of absolute value is greater than other inputs. In other words, the sensitivity of water input demand to price changes is higher than other inputs and energy, capital and labor inputs are in the next. The absolute value of the numerical value of the price elasticity of all inputs is less than one, therefore it can be said that demand for all inputs is inelastic. The Morishima elasticity of substitution indicate that the tensile ratio of water, labor, energy and capital factors is less than one and all of them have a positive sign. In other words, inputs have a substitution relationship. Based on the research findings and considering that the price elasticity of water input is about one, it seems that price policies will not have an effect on reducing demand and saving water or will be very low.

Considering the emphasis of the Vision Plan and especially the Fourth Development Plan on economic efficiency and return, as well as the announcement of the policies of Article 44 of the Constitution in 2005 based on the transfer of state-owned companies to the private sector and the implementation of “Justice Shares“ plan during this program, this article has been prepared with the aim of analyzing the relation between relative efficiency and equity returns for firms active in the Tehran Stock Exchange. Although the stochastic frontier analysis is an already established method for measuring firm efficiency in production economics, it has just recently begun to be employed in the field of finance. And it can be applied in the equity pricing. The findings of this analysis show that once the other factors and parameters affecting the rate of return were successfully controlled, firm efficiency would obtain a significant explanatory power for average equity returns in cross-sectional analysis of data. Moreover, the findings of this study show that the relative significance of efficiency on returns depends on firm size. The paper uses the firm-level panel vector autoregressive (P VAR) approach to examine the dynamic relation between firm efficiency and stock return. The findings show that the relation between the two is significant, and in line with theoretical studies.

The Size of The firm varies according to the technology levels and production efficiency of a firm depends on ideal situation of these two factors. In this regard, the level of technology used in the manufacturing process of a firm requires optimal size of firm in an industry. Thus, this research aims to shed light on the impact of technology on the distance of firm’s production from its optimal size in the industry. Using R&D intensity index, manufacturing firms in Iran are classified into high, medium, and low levels in terms of technology. In addition, Kumanor-Wilson method is applied to determine the optimal size of manufacturing firms in terms of output value criterion. Using Panel data method related to 547 firms of manufacturing industries during 1995 to 2005, the results indicate that, on the one hand, the distance of firms’ production from output optimal size in industryyy has a significant relationship with technology level at the significance level of 5 percent. On the other hand, the findings show that as technology increases, the distance of firms’ production from its optimal level in industry is reduced and manufacturing firms work more efficiently. From policy point of view, this finding explains the importance of technology in approaching firms’ activity to its optimal size in industry which leads to the survival of firms and also prevention of its possible exit from the industry.

The purpose of this study is to examine the effect of the interdependence of investment opportunities with competing companies on the stock market value of unconstraint and financial constraint. The study population includes all companies listed in Tehran Stock Exchange during the years 2012-2016. The sample was selected using 113 companies. The financial constraints are seasonally adjusted to follow BekhradiNasab (2014) based on five net leverage indicators, free cash flows, operating flows, size and age (SA), Dividend and an indicator A constraint score of five of the five preceding criteria was identified from the 6032 observations. The research methodology is based on panel data for testing the first and second hypotheses and the cross-sectional data for testing the third hypothesis. Research evidence suggests that competition in the product market has affected key corporate decisions, and the interdependence of investment opportunities with competing companies as a driving force among managers leads to To raise the value of cash holdings. But when the companies in the market face the threats and aggressive behaviors of competing companies, the value of cash holdings has declined, but among firms with financial constraints, the interdependence of the investment opportunities of the company with Competitive companies lead to devaluation of cash holdings.

Iran`s economic regulatory law system over more than a decade of existence and role-playing in the form of iran’s competition legal system has faced various challenges in the process of achieving predetermined goals, especially facilitating competition and prohibition of monopoly. In the iran`s economic regulatory law system, the competition council and regulatory bodies have a very important role in achieving the goals envisaged by the legislator, especially the facilitating of competition and the prohibition of monopoly. In this regard, considering the observations, critiques, reviews and pathology of the mentioned legal system, and based on the findings of the researches in the present article, iran`s economic regulatory law system is currently suffered from various defects at different levels and dimensions, so that each of these has a significant direct or indirect impact on the operation of the legal system, as well as on the healthy competition status in the market. Institutional or structural, legislative or regulatory, functional or executive, environmental and external defects are the most important types of defects to the iran`s economic regulatory law system, each of which has its own unique examples.