Iranian Financial Engineering Association(IFEA)International Journal of Finance & Managerial Accounting2588-437993220240101Evaluating the effect of financial, economic, political, international risks on Tehran Stock Exchange Index Using Markov Switching Approach (MS-VAR)213819128ENSarehPahlavanPh.D Student, Department of Accounting, South Tehran Branch, Islamic Azad University, Tehran, IranAliNajafi-MoghadamAssistant Professor , Department of Accounting ,South Tehran Branch, Islamic Azad University, Tehran, IranGhodratollahEmamverdiAssistant Professor, Department of Economic, Central Tehran Branch, Islamic Azad University, Tehran, IranRoya -DarabiAssociate Professor, Department of Accounting, South Tehran Branch, Islamic Azad University, Tehran, IranJournal Article20210906Risk in itself can upset equations and upset equilibria. Financial, economic, political and international risks are among the risks in the business environment. In this study, an attempt has been made to measure the impact of risks on the return index of the Tehran Stock Exchange and for this purpose, the Markov switching model has been used to observe the impact of these risks in different regimes. For this purpose, seasonal data from 1388 to 1398 have been used. The results indicate that by equipping the LR test, nonlinear models are better than linear models. Also, according to the results of shock-positive reactions, the positive doubt on the economic risk in both regimes for a period is initially It has a lot of negative effect on the stock index and then the effect of doubt disappears and the positive doubt on the financial risk variable, if we are in the first regime, this effect will be positive on the index in a future period and negative if it is in the second regime in a later period And in the variables of political and international risk in the first and second regimes with a positive doubt, the effect of both on the stock market index is similar, so that in the first regime is negative and in the second regime this effect is positive.http://www.ijfma.ir/article_19128_d68064201291ce47be8ac5d3918bcb49.pdfIranian Financial Engineering Association(IFEA)International Journal of Finance & Managerial Accounting2588-437993220240101Modeling the effect of instability in "financial, economic and sustainability" policies on the choice of investment strategies of companies in the Tehran Stock Exchange39522199510.30495/ijfma.2022.59599.1600ENBabakMahmoudidarvishaniDepartment of Financial Management, Qazvin Branch, Islamic Azad University, Qazvin, IranHosseinKazemiDepartment of Financial Management, Qazvin Branch,Islamic Azad University, Qazvin,IranFarzinRezaeiDepartment of Financial Management, Qazvin Branch, Islamic Azad University, Qazvin, Iran,Journal Article20210313The purpose of this study was to model the effect of instability in "financial, eco-nomic, and sustainability" policies on the choice of investment strategies of compa-nies in the Tehran Stock Exchange. The present study is descriptive-correlational research. Based on the nature of the data, it is quantitative research, and based on the objectives, it is applied research. Based on the method of systematic elimination, 130 companies out of 525 companies listed on the Tehran Stock Exchange were selected as the study population of the present study. The information required for the library research section was collected from Persian and English books, maga-zines, and specialized articles. The required data of the experimental part of the research were collected and stored in a database through the use of financial state-ments and explanatory notes, activity reports of the board of directors of sample companies, as well as existing databases such as Rahavard Novin, Securities and Exchange Organization (Codal), stock exchange websites and the Central Bank system. The results showed that corporate financial, economic and sustainability policies are an effective factor in choosing corporate investment strategies.http://www.ijfma.ir/article_21995_6c0ffea2dc26e3e5f85302514be3c697.pdfIranian Financial Engineering Association(IFEA)International Journal of Finance & Managerial Accounting2588-437993220240101Interpretive Structural Modeling of Corporate Social Responsibility Indicators53702199610.30495/ijfma.2022.64430.1759ENElhamZareazadehPhD Student, Islamic Azad University, Yazd Branch, Department of Accounting, Yazd, IranMahmoudMoeinadinAssociate Professor in Accounting, Yazd Branch, Islamic Azad University, Yazd, IranHasanDehghan DehnaviAssociate Professor, Islamic Azad University, Yazd Branch, Department of Industrial Management, Yazd, IranJournal Article20211122Today with the development of different industries and business units, the effects of their activities on society and the lack of social reporting have caused a gap between the expectations of economic units and society. Nowadays, corporate social responsibility is regarded as an integral part of the economic books and financial articles in the world and the tendency to invest in companies which apply corporate social responsibility and reporting is increasing. This study was applied in terms of objective and descriptive-survey in terms of type. The statistical population included the theoretical texts related to corporate social responsibility. In this study, the interpretive structural modeling (ISM) and MICMAC analysis were used to express the relationships between corporate social responsibility criteria after reviewing the literature of corporate social responsibility. After data analysis, the factors and variables were classified into four different levels and drawn according to the ISM graph. The results obtained from MICMAC analysis indicated that all of the variables were in the cluster of communication variables while no variable was in the group of dependent, independent, and autonomous variables. Determining the relationships between factors and the type of factors can result in a better understanding of the subject and making appropriate decisions about corporate social responsibility.http://www.ijfma.ir/article_21996_acac6e55a8890cb2666e7352729b18f1.pdfIranian Financial Engineering Association(IFEA)International Journal of Finance & Managerial Accounting2588-437993220240101Assessment of Iranian Petroleum Contracts Effectiveness: A Comparative Risk Analysis Approach Using Monte Carlo Simulation71862199710.30495/ijfma.2022.60191.1626ENMohammadTavakkoli MohammadiAssistant Professor of Accounting & Finance, Department of Petroleum Accounting and Finance, Tehran Faculty of Petroleum, Petroleum University of Technology, Sattarkhan Avenue, Ghasemizadian alley, No.12, Tehran, Iran.AliEshaghzadeMaster of Finance, Department of Petroleum Accounting and Finance, Tehran Faculty of Petroleum, Petroleum University of Technology, Tehran, Iran.MasoudJafariMaster of Project Management, Department of Project Management, Faculty of Management, University of Tehran, Tehran, Iran.Journal Article20210418Background of petroleum contracts in Iran unveils different evolutions of arrangements, from Darcy to buy-backs and, more recently, new models called the Iranian Petroleum Contract (IPC). One of the prominent features of petroleum contracts is balancing risk and return between parties. We evaluate the effectiveness of IPC versus buy-back using a comparative risk simulation analysis approach. To this end, five key factors, including capital expenditures' volatility, operating expenditures' variations, deviation from the level of production specified in the contract, crude oil price changes, and alterations in finance cost, were identified as a risk and net present value (NPV) as reward variables. We simulate associations between variables under two buy-back and IPC contractual arrangements and apply the model to one of green oilfield development projects in Iran, as a case study. The distribution forms of project NPV reveal more flexible connectivity between risk-return under IPCs, from the contractor's viewpoint. Corresponding NPVs under IPC's fiscal regime are higher than buy-backs. We conclude that IPCs are more attractive to contractors and more effective in the development of upstream projects in the Iranian petroleum industry.http://www.ijfma.ir/article_21997_7735e310a8f8a4de2430338dfae18359.pdfIranian Financial Engineering Association(IFEA)International Journal of Finance & Managerial Accounting2588-437993220240101A Model for Promoting and Inhibiting Factors of Professional Success of Accountants871002199810.30495/ijfma.2022.65399.1791ENZahraGhafaeiPh.D. Student of Accounting, yazd Branch, Islamic Azad University, Yazd, Iran.MahmoudMOEINADINAssociate Professor of Accounting, Yazd Branch, Islamic Azad University, Yazd, IranShahnazNayebzadehAssociate Professor of Management, Yazd Branch, Islamic Azad University, Yazd, Iran.Journal Article20220112The purpose of this study is to present a domestic model for the success of accountants. Data collection was done by theoretical sampling method using targeted techniques (judgmental) and snowball (chain) based on which semi-structured interviews were conducted with 12 scientific-practical experts including auditors, professional and skilled accountants and university professors. After collecting information and performing three coding steps, the final conceptualization model and the resulting components were evaluated and ranked using the Fuzzy Screening technique. To assess the validity, methodological pluralism (pluralism in data analysis, pluralism of researcher and participatory pluralism) was used. On the basis of the analysis of the presented opinions, the generalities of the pattern including 26 sub-categories and 6 main categories were modeled and approved. The final pattern depicts that professional success is dependent on the function of internal and external conditions of an individual and is guided towards individual, social and organizational results by the intervention of economic and organizational factors and by laying the groundwork for families and universities with the help of the managers’ strategies and operational techniques.http://www.ijfma.ir/article_21998_309d36bfe0e77374deeb836355f8db23.pdfIranian Financial Engineering Association(IFEA)International Journal of Finance & Managerial Accounting2588-437993220240101Modeling the Behavior of Individual Investors in the Stock Market Based on the Neuro-Finance Approach1011122199910.30495/ijfma.2022.65455.1794ENMortezaMaryami YaghoubianPh.D. student in Finance, Faculty of Management and Economics, Science and Research, Tehran, IranAliNajafi-MoghadamAssistant Professor, Department of Accounting, South Tehran Branch, Islamic Azad University, Tehran, IranFaridehHaghshenas KashaniAssistant Professor, Department Of Management, Central Tehran Branch, Islamic Azad University, Tehran, IranBitaNasrolahiAssistant Professor, Department Of Psychology, Research Sciences Branch, Islamic Azad University, Tehran, IranJournal Article20220116The present study aims to provide a model to explain individual investors' behavior in the stock market using the neuro finance approach. The research was applied and performed qualitatively with the grounded theory technique. Data were collected through semi-structured interviews, and theoretical sampling continued until the saturation of categories. Fifteen depositors were interviewed. Then, the individual investors' behavior was presented based on neurological and psychological factors based on Strauss and Corbin's systematic approach theories in open coding, axial coding, and selective coding steps. Finally, the developed theory's validity was examined. The results showed that the model's core category is the individual investors' behavior. Generally, the causal conditions affecting the investors' behavior fall into two main groups in the same contextual and involved conditions. Neurological and psychological factors, which include 19 categories, are among the essential categories, among which ten categories have the highest weight and importance. These categories include changes in the physical and mental state during the intellectual transaction, emotional behavior, sense of security in the investment climate, sensitivity to news, anxiety, peace and focus, expectations and degree of risk-taking, leisure and holidays, and hours of transactions. The second group is demographic factors, which include five categories, among which two categories have been significant, i.e., individual knowledge and number of years of presence in the stock market. The model solution was the stock exchange organization. Finally, the economic consequences of the investors' behavior were discussed as the model's last part.http://www.ijfma.ir/article_21999_bc9896c35a1d00719db5cfcbeec66f5b.pdfIranian Financial Engineering Association(IFEA)International Journal of Finance & Managerial Accounting2588-437993220240101Value added Intellectual coefficient and its elements influence on the economic growth and development of Iranian food industries1131222200010.30495/ijfma.2022.62843.1715ENEskandarJafariDepartment of Accounting, Qaemshahr Branch, Islamic Azad University, Qaemshahr, IRANJournal Article20210828This quantitative study seeks to obtain empirical evidence on the relationship between the value added intellectual coefficient and its elements of companies with their economic development. Toward that aim, the data was extracted from a panel consisting of 48 Iranian food industrial companies listed in the Tehran Stock Exchange (during 2010 to 2019).<br />In this article, as independent variables were used value added intellectual coefficient (VAICTM), and its elements effect on the economic development was measured using operating income divided by total sales (OI/S), as an indicator of economic development has been studied. The method of multiple regressions has been used to predict the impact of these variables.<br />The findings show that companies’ value added intellectual coefficient and its two of elements include capital employed and human capital efficiency, as a strong factor in their economic performance forecasts, has a direct and significant influence on their economic development. but there is a non-significant relationship between structural capital efficiency as third elements and dependent variable.http://www.ijfma.ir/article_22000_fb4ea06503aa04a60eb1988bd67ecbde.pdfIranian Financial Engineering Association(IFEA)International Journal of Finance & Managerial Accounting2588-437993220240101Optimizing open banking in the age of digital transformation by the metaheuristic algorithms of the Firefly &FMO1231422200110.30495/ijfma.2023.71966.1984ENShadiOyarhosseinDepartment of Information Technology Management, Science and Research, Islamic Azad University, Tehran, Iran.AbbasToloui AshlaqiDepartment of Information Technology Management, Science and Research Branch, Islamic
Azad University, Tehran, IranRezaRadfarDepartment of Industrial Management, Science and Research Branch, Islamic
Azad University, Tehran, Iran.AlirezaPour EbrahimiDepartment of Industrial Management, Karaj Branch, Islamic Azad University, Karaj, Iran.Journal Article20230212The digital world has disrupted entire sectors, such as publishing, media recording, commerce, and manufacturing, among others. The financial services sector is not being spared.“Digital transformation” has been on the agenda of many executives and board rooms for quite a long time. But beyond the buzzword, it is often not clear what “digital transformation” means. Financial services have often interpreted “digital transformation” only as a means to provide access to some products via digital channels, online or mobile, or, alternatively, as a pure cost reduction initiative. Digital transformation is much more than that: it is an entire change in the company’s business model.It involves putting the customer at the center and using digital platforms to build a new business and operating model around that, using both own or external products and services. In today's age, open banking and the use of APIs is one of the ways to enter the digital transformation into the banking industry.Therefore, in this article, after the introduction of open banking, two scenarios have been presented for the optimality of the open banking model by metaheuristic algorithms according to their similarity to the ecosystem of the banking industry, and finally, after examining the results of testing on the data It was concluded that the best platform is to use the second scenario based on the FMO algorithm in the design of open banking platforms.http://www.ijfma.ir/article_22001_299a48c40fac744498626b1df660d9c3.pdfIranian Financial Engineering Association(IFEA)International Journal of Finance & Managerial Accounting2588-437993220240101Estimating the Tax Capacity of E-Commerce Sector: Evidence from Iran’s Data1431602200210.30495/ijfma.2023.65049.1774ENMostafaPahlavanPhD Student, Department of Accounting, Faculty of Economics and Accounting,
South Tehran Branch, Islamic Azad University, Tehran, IranFatemehSarafAssistant Professor, Department of Accounting, Faculty of Economics and Accounting,Mohammad RezaAsgariAssociate Professor, Department of Management, School of Management and Accounting,
Imam Khomeini Shahrari Memorial Branch, Islamic Azad University, Tehran, IranRoya -DarabiAssociate Professor, Department of Accounting, South Tehran Branch, Islamic Azad University, Tehran, IranJournal Article20230111Abstract<br />One of the new business activities which has emerged in recent years is the creation and development of e-commerce. With the spread of e-commerce, there is the possibility of tax evasion in new revenues that were traditionally collected before. On the other hand, tax capacity is the economic capacity of a country to withstand the pressure of various taxes. In other words, it is the amount that people can pay in taxes. Determining tax capacity is a difficult and important task. In this regard, a precise estimate of tax capacity and finding its available resources seem necessary. Therefore, given the importance of this issue, the present study first tries to investigate the tax capacity, tax collection from e-commerce sector, and then it intends to estimate the tax capacity of the e-commerce sector as a regime in Iran. In this study, the tax capacity of e-commerce in Iran during the period 1973-2013 has been estimated. The results of this study showed that the total tax capacity follows a three-regime behavior. In all three regimes, the independent variables had a significant effect on the total tax capacity, but the size of these coefficients was different in each of the regimes and even in some cases it was different for the effect. Based on the results, it can be stated that the degree of impact and the direction of the impact of the fundamental variables of total tax capacity on tax capacity varies depending on economic conditions.http://www.ijfma.ir/article_22002_a386c7c329ce38ff6af74159a6f23dca.pdf