Iranian Journal of Management Studies
Volume:6 Issue: 1, Winter 2013

In this paper, the pricing of a European call option on the underlying asset is performed by using a Monte Carlo method, one of the powerful simulation methods, where the price development of the asset is simulated and value of the claim is computed in terms of an expected value. The proposed approach, applied in Monte Carlo simulation, is based on the Black-Scholes equation which generally defined the pricing of European call options in a dynamic environment. Therefore, the main goal of this study is how can Monte Carlo be applied to finance? Although it is stated that because of being based on randomness, the Monte Carlo method has its obvious disadvantages and does not yield solutions for all possible stock prices, by applying Black-Scholes formula, it is efficient to use this method for calculating payoff. Hence, in the matter of this paper, we introduce the Black-Scholes model and Monte Carlo simulations as main tools to determine.

Emotional Intelligence is one of the most important concepts introduced to psychology and management in the last decade. The purposes of this study were to determine the effect of labor's emotional intelligence on job satisfaction, job performance and commitment in Fars Province industries in Iran. The population from which we drew our sample consisted of employees employed in Fars Province industries in Iran. A total number of three hundred and fifty participants who were selected randomly answered the questionnaires. Two hundred eighty nine questionnaires were used for analysis. The instrument to measure employees’ emotional intelligence was the MSEIS (Schutte, Malouff, & Hall, 1998), and the Grikson (1983) was used to gather information about employees’ job satisfaction. Also, Alen and Mayer's questionnaire (1990) was considered in order to collect employees’ commitment data. The results showed that employees’ emotional intelligence was positively correlated with job satisfaction. Then, there was a significant relationship between the labor's emotional intelligence and their job performance. Also, there was not any relationship between labor's emotional intelligence and their commitment. The results underline the important role of emotional intelligence and its effect on work situations.

Using advanced techniques of econometrics and a metaheuristic optimization approach, this study attempts to evaluate the potential advantages of international portfolio diversification for East Asian international investors when investing in the Middle Eastern emerging markets. Overall, the results of both econometric and the metaheuristic optimization methods are supporting each other. Findings of this study highlight the potential role of the Middle Eastern equity markets in providing international portfolio diversification benefits for East Asian investors. It is also found that the long and the short-term efficient frontiers in any of the intra or inter-regionally diversified portfolios do not provide similar benefits.

Despite the fact that women possess the required knowledge, skills, competencies, training and experiences to perform effectively and efficiently in construction industry, they experience entry and career advancement barriers. This research examines the effects of glass ceiling syndrome on women career advancement in construction industry. Data were obtained through structured questionnaire distributed to workers of selected construction companies. The findings reveal that some of the barriers mentioned in the literature against women career advancement in construction are prevalent in Nigeria, except the existence of equality in respect of male and female in terms of employment and career development opportunity. Also, low women participation in Nigerian construction industry begins in choosing course, education and continues throughout recruitment process. The aim is to encourage women's participation in construction industry and employers to tackle the industry’s environmental issues by introducing flexible work hour, reducing workload and making the works less tedious and stressful. Also, use of foul languages, harassment of women should be eradicated and continuous supports to balance and family responsibilities should be given.

The purpose of the study is to evaluate the service quality of Islamic Azad University of Mazandaran. The study was a descriptive survey. The statistical population consists of all Islamic Azad University students of Mazandaran and 373 students were chosen through stratified random sampling method as the sample of the study. The data were collected using the SERVQUAL standardized questionnaire. Data analysis was done through using paired samples t-test and Friedman’s test. The findings of the study showed a significant difference between the student's expectations and perceptions in all five dimensions of service quality and in all dimensions, students’ expectations had a higher level than that of the perceptions. Moreover, the comparison of the five dimensions showed that the students’ perception of the received service quality was not the same, so the highest and the lowest service quality were given to tangibility and empathy, respectively.

The main purpose of this study is the analysis of the correlation between organizational justice and quality of work life. This study also analyzes the correlation between organizational justice components as encompassed by three specific forms of justice perceptions; distributive justice, procedural justice, and interactional justice with quality of work life. Statistical population consists of all employees in Qom Province public organizations and the sample includes 264 employees. Data collection tool is questionnaire. Collected data were analyzed by Smirnof-Kolmogorov test as well as one-sample t-test and Friedman test and Pearson correlation test by SPSS software. Findings indicated significant positive relationships between organizational justice and quality of work life. Correlation analysis for the three components of organizational justice showed that three components of organizational justice had positive relations with quality of work life.

Consumer purchasing decisions relating to foreign products are influenced by economic, psychological and sociological factors. This study attempts to relate such rarely studied variables as animosity and ethnocentrism to concepts taken from consumer behavior which are brand image and purchase intention. Consequently, this study attempts to provide insights into how brand image, consumer ethnocentrism and animosity shape consumer's purchase intention. Empirical data were collected by a questionnaire distributed to a British apparel retailer. The results show that while consumer’s brand image was found to be positively related to consumer’s purchase intention, consumer ethnocentrism and animosity were negatively related to consumer’s purchase intention. Additionally, consumer ethnocentrism was negatively related to brand image, whereas, consumer animosity has no significant relation with brand image. These findings have direct and important implications for international marketers.