فصلنامه سیاستهای مالی و اقتصادی
سال نهم شماره 34 (تابستان 1400)

Due to the fact that in recent years, Iran has faced severe fluctuations and shocks from macroeconomic variables, the household utility has changed. Undoubtedly, without studying and researching the effects of these shocks on household utility, appropriate solutions cannot be provided to reduce its adverse consequences. Therefore, in the first stage, this study has extracted the household utility function during the years 1996-2020 and then with the help of the ARDL model has investigated the long-Run effects of macroeconomic variables on it. The results of extracting the utility function show that the utility of the household has decreased during the research period and the welfare of the household has declined. Also, the results showed that the effect of economic growth rate (0.29) and oil prices (0.33) on household utility is significant and positive and the effect of inflation rate (-0.11) on it is negative and significant. Also, the effect of the tax on utility is not significant. Accordingly, given the decline in utility over the past few years as a result of economic shocks and fluctuations, the government needs to pay special attention to this issue

So far, there have been three major technological advances. The first industrial revolution in Britain began and hydraulic and steam machines were introduced to factories. The Second Industrial Revolution differentiated between components and assembly of products based on the division of labor. This led people to the era of cost-effective products and mass production. The Third Industrial Revolution involved the widespread use of electronic and information technologies and continuous automation in the production process. Today, we are on the eve of the fourth industrial revolution. This revolution is different from the first three industrial revolutions and is characterized by the widespread use of physical cyber systems in the production environment. The basic premise of the Fourth Industrial Revolution is the deep integration of information and network systems. One of the most important factors in the economic development of countries is the growth of the foreign sector of the international economy and trade. In other words, having extensive trade exchanges is one of the main factors of economic growth of countries. Due to the high volume of trade and the increase in the speed of commercial transactions, customs also have to change.  Because traders expect to clear their goods as quickly as they buy and transport them. With the advent of e-commerce, the business community expects clear and predictable customs procedures and faster clearance of goods. The purpose of this study is to design and present a model to assess the readiness of the Iranian Customs Organization to join the Fourth Industrial Revolution.

This paper investigates the effect of inflation on financing of private sector activities by the banking system among developing countries (2002 to 2019). 79 countries have been selected as a sample and are divided into four groups according to the Human Development Index. The results of estimating the panel regression equations show that inflation has a significant negative effect on financing of private sector activities by the banking system, and this effect is stronger for countries with middle development. The impact of education, governance, information and communication technology and economic openness have also been positive and significant.

In the stock market, there are different types of information (related or unrelated) and rumors that the source of this information can be audit reports of companies, shareholders, analysts (fundamental and technical) and social networks. Due to the importance of this information, different people with different perceptions may show different reactions and behaviors. The main purpose of this study is to investigate the effect of untrue news and information on the decision of investors and buyers of shares in the Tehran Stock Exchange. News and information in three subjects: political, economic and industrial, classification and data and information required by a researcher-made questionnaire (after validation and reliability) were collected in a statistical population of 295 people. Next, the effect of each type of news on investors' stock decisions are estimated by a multivariate regression model using the ordinary least squares (OLS) estimation method. The results show that unrealistic political, economic and industrial news and information have a significant effect on the decision of investors and stock buyers. It was also found that investors' decisions in stocks are most influenced by unrealistic political news and information compared to economic news and industrial news.Economic and political uncertainty makes it difficult to predict profitability and decision-making in commercial and non-commercial environments, disrupting making decisions about production and investment. Given the negative impact of economic policy uncertainty on investment, it is necessary for the government and the central bank to adopt appropriate policies while reducing fluctuations, to establish institutions and risk hedging instruments to reduce the turmoil caused by unrealistic economic and political news. And take action on risk management in this regard.

One of the most significant guiding criteria in project design and implementation is sustainable development. Banks play a critical role in environmental protection and the transition to a green economy. Green financing is an innovative financial tool that aims to achieve ecological balance while promoting economic growth. The current study intends to construct and analyze a project financing model by allocating bank resources to accomplish sustainable economic development in Iran through a three-step method. In the first step, this study used a data-based technique to identify 77 components in 21 categories while interviewing 16 experts and coding. Then designed the relevant model and explained the hypotheses. The second step used the structural equation modeling method to evaluate the model fit and test the hypotheses. Finally, the components of green financing were prioritized using the interpretive structural modeling method. According to experts, the findings show that extracted components have a direct and significant impact on the green financing of projects. Furthermore, the Iranian banking industry's main aspects of green financing are currently at a low degree of readiness. As two significant components, increasing recognition of the needs for green projects and green targeting of banks based on their purpose plays a vital role in operationalizing the green financing of projects by allocating bank resources to promote sustainable development .

Political economy perspective is about the management of economics by political institutions. Political relations and influence not only affect the financial status of businesses but also influence corporate governance policies in order to achieve the desired goals in different fields. Therefore, the present study investigates the relationship between quasi-governmental companies (an indicator of political economy) and corporate governance policies adopted in companies listed on the Tehran Stock Exchange. For this purpose We extracted data on 113 companies listed on the Tehran Stock Exchange for a ten-year period (2008 to 2017). For hypothesis testing, we used regression model of the panel data. The research results show that quasi-governmental companies show less willingness to select Industry specialist auditor. In addition, the results of the study indicate that auditors are demanding more fees for the greater audit risk of these companies. The results also indicate that the related political companies are trying to reduce the quality of corporate governance in order to hide their political goals from the investors.