نشریه پیشرفت های مالی و سرمایه گذاری
پیاپی 8 (پاییز 1401)

One of the most important prerequisites for public participation in investment and financing projects (in this research, endowment bonds), is to provide information needs and pay attention to different jurisprudential views in the country. Therefore, in this research, the mentioned papers are examined based on the standards of Shafi'i and Imami jurisprudence in order to clarify and resolve its legal ambiguities and doubts.

The main approach in this research is a comparative approach. In order to analyze and issue jurisprudence in Imami jurisprudence, the method of document analysis (documents and approvals of the Jurisprudence Committee of the Stock Exchange Organization) has been used, and in connection with Sunni jurisprudence (Shafi'i jurisprudence), in-depth interview and focus group methods have been used, a statistical sample The aforementioned include 8 experts of Shafi'i jurisprudence.

The findings of the research showed that the commonality of views in the two jurisprudence institutions is very high, and this can be a sign of increasing the participation of Sunnis in endowment bonds and other Islamic securities issued in Iran.

Originality / Value: 

Considering that the results of the research resolved the jurisprudential ambiguities related to the endowment documents, it is a very positive step for the development of this tool, and surely, with the wide dissemination of the above results, we will witness more and more participation of Sunnis in Iran in similar projects at the level We will be the country and eventually a very good synergy will happen in this area.

The present study explains a dynamic model for developing the performance of the Iranian banking system.

first, by examining the country's economic trend, uncertainties affecting the performance of the banking system based on international indicators of CAMELS were identified, and the network of uncertainties in the Iranian banking system to determine critical uncertainties using the approach SNA was evaluated. In the next stage, the dynamic model of the banking system performance in uncertainty conditions was designed using the SD based on the data of Bank Saderat Iran, and the model was simulated over a 20-year horizon.

According to the research findings, four strategies of bank assets and costs management, the attraction of financial resources and profitability, bank management empowerment and banking infrastructure development, and a selected mixed strategy were identified and simulated, which includes 1- increase investment in banking infrastructure, 2- Create special mechanisms for collecting receivables, 3- Manage bank costs by the agility of processes and empower human resources, as well as monitor the bank's costs, 4. Increase the efficiency of the appropriate customer validation process, 5. Increase the trust and security of depositors by providing financial transparency reports and effective communication with key stakeholders.

Originality / Value: 

Reforming the structure of the banking system, formulating efficient monetary and financial policies and regulations, and effective supervision of the country's banks can transfer uncertainties to the banks with less severity, and only in this situation can banks develop their performance with long-term planning.

The purpose of this study is to the relationship Among the stability of profit components and cash components of interest and their relationship with bankruptcy in the Tehran Stock Exchange.

In order to achieve the purpose of the research, a sample of 130 companies from among the companies of Tehran Stock Exchange and companies that are subject to Article 141 of the Commercial Law (bankrupt) and have left the Exchange and Securities Organization, for a period of 5 years between 2016-2020. Is. Data collection has been done using modern mortgage software and stock exchange organization websites. In this research, E-views 8 econometric software has been used for final analysis.

The cash component of profit has a stronger relationship with the future profit of the company than the accrual component of profit and therefore has more stability than the accrual component of profit. Also, the result of the second hypothesis showed that the stability of the cash component of profit the stability of the cash component paid to shareholders is greater than the stability of other cash components. Finally, in the third hypothesis, the stability of the cash component of profit with the financial health of the company is greater than the stability of the accrual component of profit.

Originality / Value: 

The present study provides evidence for the relationship between the cash components of profit, profit stability and the probability (prediction) of bankruptcy of accepted companies.

The present study collected research-related data with the aim of investigating the effect of parasitic companies on debt financing costs with emphasis on the role of government ownership. The data of this study are post-event observations.

The method of this research is applied and is descriptive-correlational in which the research background and theoretical foundations are collected through articles, libraries and the Internet. The statistical population of this study is all companies listed on the Tehran Stock Exchange and a systematic elimination method has been used to select the sample companies. The research period is from 2014 to 2020. In order to determine the relationship between independent and dependent variables and test research hypotheses, econometric models have been used.

The results showed that the presence of the parasite company among companies in the same industry affects the cost of debt financing. Public ownership does not affect the relationship between the existence of a parasite company among co-industry companies and the cost of financing.

Originality / Value: 

Considering the confirmation of the first hypothesis and the effect of zombie companies on the cost of financing, investors are advised to pay attention to the industry situation of that company when choosing the right company and to be aware of the presence of zombie companies in it. industry to be sure, because the mentioned companies can cause the cost of financing and on the other hand reduce the profit for the companies, and this causes a decrease in the profits of the shareholders.

The current research seeks to provide a stock return prediction model using micro, market level and macroeconomic data.

The current research is applied in terms of research methodology. Bayesian averaging model and TVP_FAVAR were estimated in MATLAB 2021 software environment. The time frame of the research includes the period of 2011 to 2021.

According to the output, variables at the micro level, market level and macro economy affect this index; Also, based on the results of the TVPFAVAR model, it was observed that the effect of the effective variables on stock returns is generally positive and strong, and this effect is generally stronger in the long term than in the short term.

Originality / Value:

 64 variables affecting stock returns in three groups at the micro, market and macroeconomic levels were entered into the model, and then using the Bayesian averaging model approach, 11 non-fragile variables affecting stock returns, which are current ratio, ratio debt, rate of return on equity; Price-profit ratio, oil income, GDP growth fluctuation, informal market exchange rate, inflation fluctuation, money multiplier, interest rate and systematic risk were identified. For this purpose, to solve the problem of traditional models that do not have the ability to identify the most important variables affecting stock returns, the Bayesian averaging method and the generalized vector autoregression method of the time variable parameter have been used.

The purpose of this research is to investigate the effect of technical, organizational and environmental factors on financial performance with the mediating role of using social media in the companies of Mashhad Tos Industrial Estate.

This research is applied and of the type of causal and descriptive research. The statistical population of the research included the CEOs of phase one companies of Mashhad Tos Industrial Town with 450 people, according to Morgan's table, 208 people were determined as the sample size. The data collection tool was a localized questionnaire based on the research of Tajuddin et al. (2018), which used convergent and divergent validity and confirmatory factor analysis to check validity, and combined reliability and Cronbach's alpha were used to calculate reliability. Structural equation method and SmartPLS software have been used to check the hypotheses.

The findings of the research showed that technical factors and organizational factors have a positive and significant effect on the use of social media, but the effect of the environmental factor on the use of social media was not confirmed. Also, the results showed that the use of social media has an effect on improving the financial performance of companies, and it also plays a mediating role in the effect of organizational and technical factors on the financial performance of companies. But the mediating role of using social media in the effect of environmental factors on financial performance was not confirmed.

Originality / Value:

 Reforming the structure of the banking system, formulating efficient monetary and financial policies and regulations, and effective supervision of the country's banks can transfer uncertainties to the banks with less severity, and only in this situation can banks develop their performance with long-term planning.

 In general, management accountants may be seen as value-creators which in turn assist an organization to gain a competitive advantage. They are responsible for the integrity of top management and the reliability of the reports they provide. Also, they assume a role in which they are responsible for helping managers in strategic planning and controlling operations. The main purpose of this article is to provide an insight into the role of management accounting in creating and maintaining competitive advantage in the banking industry.

 The current research is based on a philosophical and scientific approach based on the method of historical knowledge and is designed and implemented with the aim of promoting knowledge in a library manner by reviewing articles. The result of which is the development of management accounting knowledge.

 Studies show that management accounting provides skills and methods that play a vital role in planning, developing, implementing and evaluating strategic competitive policies. Also, studies have shown that the rapid growth and competition of the banking industry can be attributed to the use of innovative management accounting practices. In fact, to remain competitive, banks must offer services to customers that differentiate it from its competitors.  This issue shows the significant importance of management accounting in banks.

Originality / Value:

 Based on the philosophical and scientific approach, the current research has explained the role of management accounting in banks.