فصلنامه سیاستهای مالی و اقتصادی
سال دوم شماره 7 (پاییز 1393)

This study tries to find the main factors of performance by using Grey Factor Analysis and ranks firms according to their acquired score. Grey Factor Analysis is a combination of Grey Theory and Factor Analysis which has the ability to evaluate corporations’ performance. Also، as basic metals corporations are considered as a growing industry، this study tests GFA model through listed corporations of this industry within years 2009-2012. The results show adaptability of GFA and its capability in providing an easy method for MCDM models. According to the results of GFA model، Iran Alloy Steel Company، Iran Aluminum and National Iranian Lead & Zinc had better performance.

Generally in all countries، governments must intervene in some areas inevitably، regardless of sovereignty and tenure. Some of these areas are social welfare and particularly expanding protection of vulnerable groups for reducing income inequality and improving social income distribution. In this paper، the impact of some of the macroeconomic variables on income inequality has been studied using co Integration approach during years of 1349-91. The results show that achieving fifth development plan goals such as 8 percent economic growth rate and Gini coefficient of 35% and other income distribution indicators is not possible simultaneously. Thus in setting sixth economic plan، it should be considered that achieving high growth as well as low Gini coefficient will be difficult. We show that rising per capita GDP and inflation increases income gap and rising per capita subsidy and employment and per capita wealth tax، decreases income gap.

One of the most important tasks of the supervisory bodies of capital market is to control fluctuations and volatilities using various tools and rules. In order to implement instruments، we should study about effects، and dimensions as well as advantages and disadvantages totally، these instruments are so-called «Circuit Breaker». In this article، we explore one of the most important tools ie price limit used in the Tehran Stock Exchange and we analyze it extensively. Now، many exchanges in the world use price limit for reducing volatility in markets. Price limit is the ceiling and floor of any share on each trading day. A lot of research is done on the effects، advantages and disadvantages that in this paper we review these issues and explore one of the newest and most important of them called «magnet effect» using a regression model.

Today the role of tax system is based on three primary political، social and economic goals. its biggest task is to defend economic security of economic agents as well as being known as an income method Economic insecurity has led to the increase in size of the underground economy، so itreduces amounts of investments in the economy. This phenomenon has a negative effect on the tax base and reduces tax revenues. The main objective of this paper is to investigate the relationship between tax revenue and economic security in Iran during the period of 1977-2011. For this purpose، we used the Hsiao''s- Granger and Toda & Yamamoto (TY) causality tests. The results show that there is a unilateral causality from the economic to security tax revenue. The economic Health and security of the country is subject to the healthy tax structure. Through establishing Strong tax system، creating appropriate cultural and encouraging people to pay taxes، economic structure of the country will be stronger. So according to the ratio of tax revenues to GDP is low and there is bilateral causal relationship between this variable and economic security، the tax system requires a fundamental review to provide financial security and investment. Consequently، tax revenues increase.

The purpose of this study is to evaluate the impact of bank facilities on employment. Granting job creation facility is one of the usual methods of government during the first to fifth development plans to dissolve unemployment in Iran. This research is an applied investigation and the statistical population is banking facilities (SME، s facilities) in thirteen provinces. In selection of these provinces، an attempt has been made to cover more than seventy percent of the total population of the country. Data collection has included archival، scientific and technical tools by which employment has been evaluated through explanatory variables of a variety of small and quick impact enterprises facilities using domestic panel data method. The model is based on the research by Craig E. Armstrong، Ben R. Craig، William E. Jackson، and James B. Thomson (2010) entitled “The Importance of Financial Market Development on the Relationship between Loan Guarantees for SMEs and Local Market Employment Rates”. Results show that small and quick impact enterprises and GDP have a positive impact on job creation.

This paper studies general orientation of Iran''s foreign trade policies during 1959 to 2011. For this purpose، we have examined foreign trade policies and performance using several indices. Industry value added relative to GDP، non-oil exports relative to GDP، composition of imports، relative effective exchange rates، terms of trade، Economic Freedom and tariff and non-tariff barriers against imports، show that during five past decades، Iran’s foreign trade policies has been inward oriented dominantly.

One of the main features of regulation of structure is alteration of planned economy to the market economy. In Iran، this alteration accomplish with privatization and free investment through the implementation of Article 44 of the constitution. Therefore، one of the key factors in this regard is value relevance of accounting information for buyers. Value relevance of accounting information indicates the relevance and reliability of accounting information. So it can be used as an indicator for the quality of accounting information. Therefore، in this study we examine the effect of the general policies of Article 44 of the constitution on improving value relevance of accounting information within a 9 years period (from 2004 to 2007، 4 years before and from 2008 to 2012، 5 years after notice of Article 44 of the constitution) in Tehran Stock Exchange. The research sample was consisted of 84 firms، the independent variable of the study is stock market price and dependent variables are earnings per share، book value of shares، and operating cash flow (as a representative of basic financial statements). The results of the analysis of assumptions indicate that implementation of Article 44 of the constitution impresses the relationship between stock prices and earnings per share، book value of shares، and operating cash flow in Tehran Stock Exchange. In general، the results show the improvement in value relevance of accounting information after the implementation of Article 44 of the constitution.

Decreasing unemployment rate is one of the most striking objects for economic planners and decision makers and achieving to this purpose، will lead to solve a lot of economic and social problems. Among many factors affecting unemployment rates، entrepreneurship has been an interesting topic for researchers for quite some time. The relationship between entrepreneurship and unemployment has posed a complex puzzle to scholars. One view، which has been called the unemployment push، or refugee effect، suggests that the decision to become an entrepreneur is a response to either being unemployed or else the perception of dismal future employment prospects. An alternative view suggests that entrepreneurship، by virtue of creating a new venture، contributes to the reduction of unemployment. While the first view suggests a positive relationship between entrepreneurship and unemployment، the second view suggests a negative relation between them. The present paper examines the relationship between entrepreneurship and unemployment in Sistan&Baluchestan Province through using Toda-Yamamoto approach in the period from 1998 to 2010. The results indicate that، Schumpeter effect for Province studied is established as a definite (impact of entrepreneurship rate on unemployment rate)، but refugee effect (impact of unemployment rate on entrepreneurship rate) cannot be confirmed. The evidence generally supports the existence of a uni-directional causality that runs from entrepreneurship to unemployment rate for the case of Sistan&Baluchestan.