Iranian Financial Engineering Association(IFEA)International Journal of Finance & Managerial Accounting2588-4379134920260301Circular Economy Approach to Reducing Food Waste1122435210.22034/ijfma.2025.78593.2271ENNafisehGholamian RadDepartment of Management, UEA.C., Islamic Azad University, Dubai, United Arab EmiratesAlborzHajikhaniDepartment of Management, Hi.C., Islamic Azad University, Zanjan, IranMohammad MehdiMAZAHERIDepartment of Management, SR.C., Islamic Azad University, Tehran, IranJournal Article20250626Abstract<br>The aim of the present study was to identify the factors influencing the reduction of food waste from a circular economy perspective. This study was quantitative in nature, applied in purpose, and descriptive-analytical in terms of methodology. The statistical population consisted of all managers and owners of food stores in the city of Qazvin, totaling 3,200 individuals. Among them, 384 individuals were selected as the sample using Cochran's formula and a simple random sampling method. A questionnaire was used for data collection. To assess validity, content validity was employed, and for reliability, Cronbach’s alpha coefficient was used. The normality of the variables was confirmed using the Kolmogorov-Smirnov test, and the results of the Friedman test showed that operational management, commercial management, supply management, waste management, and water and energy management were prioritized in that order.<br>Keywords: Circular economy, food waste, entrepreneurship. <br><br>Introduction <br><br>The circular economy is one of the emerging economic topics that has garnered increasing attention from experts in recent yearshttp://www.ijfma.ir/article_24352_d54e85f13dd6a855aa84657882225c49.pdfIranian Financial Engineering Association(IFEA)International Journal of Finance & Managerial Accounting2588-4379134920260301Developing a Corporate Tax Model Based on Audit Quality: An Approach towards Financial Transparency and Regulatory Compliance13302415410.22034/ijfma.2025.78564.2265ENFatemehHamzehnezhadPhD student , Department of Accounting and Finance, BA.C., Islamic Azad University, Bandar Abbas, Iran.HojjatallahSalariDepartment of Accounting and Finance, BA.C, Islamic Azad University, Bandar Abbas, Iran.0000-0002-4460-4944AliAmiriDepartment of Accounting and Finance, BA.C, Islamic Azad University, Bandar Abbas, Iran.0009-0001-7447-3201DavoodKhodadadiDepartment of Accounting and Finance, BA.C, Islamic Azad University, Bandar Abbas, Iran.Journal Article20250608This study develops and presents a corporate tax model based on audit quality. The proposed model aims to enhance financial transparency and reduce tax evasion. Additionally, it seeks to gain investor confidence and facilitate compliance with tax regulations. Audit quality refers to the accuracy, comprehensiveness, and reliability of audits, ensuring that companies' financial statements align with reality and adhere to accounting principles and standards. This quantitative study employed a descriptive survey method with a parametric sample. The statistical population comprised 152 experts in accounting, auditing, taxation, and finance, as well as individuals involved in accounting and tax affairs. Data were collected via a questionnaire, validated through prior use in similar organizations, with reliability confirmed via Cronbach’s alpha. The corporate tax model was analyzed through four dimensions: explanatory tax components, causal conditions, underlying conditions, and intervening conditions. Results indicated that all four dimensions significantly influence audit quality. The findings underscore that enhanced audit quality can substantially improve a nation’s tax and economic systems.http://www.ijfma.ir/article_24154_1eebbb55fd7a6ade3787002e5f87ceab.pdfIranian Financial Engineering Association(IFEA)International Journal of Finance & Managerial Accounting2588-4379134920260301Identification and Ranking of Indicators Affected by Political Shocks in Iran’s Capital Market: An Exploratory Approach with CVR and CVI Validation31422434610.22034/ijfma.2026.78512.2258ENMohammadMirzaeiPhD Student in Financial Engineering, Department of Finance and Accounting, Qom Branch, Islamic Azad University, Qom, Iran0000-0003-4099-118XRezaQolami JamkaraniAssociate Professor, Department of Finance and Accounting, , Qom Branch, Islamic Azad University, Qom, Iran0000-0003-1895-6660MeysamDoaieAssistant Professor, Department of Finance and Accounting, , Qom Branch, Islamic Azad University, Esfarayen, Iran0000-0003-2276-2973AlirazaDavoodiAssociate Professor, Department of Mathematics, , Qom Branch, Islamic Azad University, Nishabur, Iran0000-0002-1375-6996Journal Article20250522One of the most significant characteristics of any capital market is its sensitivity to political developments. Political issues, due to their ability to alter economic perspectives, exert a direct and immediate impact on the stock exchange. Today, political risk is a highly complex and multidimensional phenomenon that poses serious challenges to the global business community, particularly in terms of its accurate assessment and effective management. This study aims to identify the indicators affected by political risk in companies listed on the Tehran Stock Exchange and the Iran Fara Bourse.<br>Accordingly, after reviewing the theoretical foundations, indicators influenced by political shocks were extracted. The general framework of the study, including its objectives, was then developed based on an exploratory approach. Subsequently, by analyzing key terms and reviewing relevant empirical studies, and through expert consultation, the most influential indicators related to political shocks in the capital market were identified. Finally, using standardized CVI and CVR questionnaires, the final set of effective indicators was identified and ranked. This research is exploratory-simulation in nature.http://www.ijfma.ir/article_24346_569bcc65032c647084157fd4391c82bb.pdfIranian Financial Engineering Association(IFEA)International Journal of Finance & Managerial Accounting2588-4379134920260301Cosmetic Accounting and Auditor Litigation Risk in Emerging Market: The Moderating Effect of Corporate Governance43602435310.22034/ijfma.2025.77571.2113ENMohsenImeniAssociate Professor, Department of Accounting, Ayandegan Institute of Higher Education, Tonekaboon, Iran.0000-0003-1863-4995XinGuoZhuhai College of Science and Technology, Zhuhai, 519000, China.Seyyed AhamdEdalatpanahAssociate Professor, Department of Applied Mathematics, Ayandegan Institute of Higher Education, Tonekabon, Iran.0000-0001-9349-5695Journal Article20240420This study examines the relationship between cosmetic accounting and the risk of litigation with the auditor, moderated by corporate governance. This study examined the association between cosmetic accounting and auditor litigation risk, taking into account the moderating role of corporate governance. The sample consists of financial data from 113 companies listed on Tehran Stock Exchange during 2016-2023 (904 firm-years). The results are based on multivariate regression models. In the current study, board characteristics were considered as an indicator of corporate governance. The results show that cosmetic accounting has a significant positive impact on the risk of legal disputes with the auditor. In addition, board independence has a significant positive effect on the relationship between cosmetic accounting and the risk of litigation with the auditor. However, board size has no significant effect on this relationship. Further tests show that cosmetic accounting plays a crucial role in the risk of litigation with auditors (audit fees) for larger companies compared to smaller companies. In addition, the size of the board of directors is decisive for smaller companies, while the independence of the board of directors is more decisive for larger companies. Further findings suggest that when faced with cosmetic accounting, auditors tend to increase their audit fees to mitigate audit risk, leading to an increase in abnormal audit fees.http://www.ijfma.ir/article_24353_b6b9f0ec953b73acf8cff183f3739e99.pdfIranian Financial Engineering Association(IFEA)International Journal of Finance & Managerial Accounting2588-4379134920260301Identifying effective factors in the relationship between a socially responsible board of directors and earnings management61862435410.22034/ijfma.2025.78367.2244ENMajidAli BeiglooPhD Candidate in Accounting, Faculty of Management of Economics, Tarbiat Modares University, Tehran, IranSaharSepasiAssociate Professor, Accounting Department, Faculty of Management of Economics, Tarbiat Modares University, Tehran, Iran0000-0001-7870-7231JavadReza ZadehAssociate Professor, Accounting Department, Faculty of Management of Economics, Tarbiat Modares University, Tehran, IranJournal Article20250313The role of the board of directors as the main decision-maker in relation to corporate social responsibility and corporate earnings management is very important in the era of corporate governance. In this study, the factors affecting the modeling of the board of directors supporting social responsibility and its impact on earnings management with respect to corporate governance have been identified. This research is of a descriptive-correlation type that initially began with a qualitative method. In the qualitative part, data were collected through semi-structured interviews with 19 experts and specialists related to the subject. The sampling method in this part was non-random, purposeful/snowball. Information related to the influencing factors was extracted from the Kodal site and the Delphi method was used to analyze the data. The results of the study show that various factors such as social responsibility performance, information disclosure, social responsibility strategies, corporate characteristics, and corporate governance structure affect the modeling of the board of directors supporting social responsibility on earnings management. Socially responsible performance in environmental and social dimensions, transparent information disclosure, and social responsibility strategies increase stakeholder trust and reduce non-transparent behaviors such as earnings management. Also, corporate characteristics such as company size and cash flow, along with an appropriate corporate governance structure, enhance financial transparency and greater oversight of board decisions and reduce earnings management behaviors. These factors generally help improve the financial and social sustainability of companies.http://www.ijfma.ir/article_24354_b93e662b3e5e06be3555e0e087a2acb8.pdfIranian Financial Engineering Association(IFEA)International Journal of Finance & Managerial Accounting2588-4379134920260301COVID-19 Depression Impact on Retail Investor Transactions871002435510.22034/ijfma.2025.78295.2233ENKeramatollahHeydari RostamiAssistant professor, Management Department, Faculty of Administrative Sciences and Economics, Arak University, Arak, Iran.0000-0001-6016-0741MarjanShahaliAssistant Professor at Department of Accounting, Damghan Branch, Islamic Azad University, Damghan, Iran.0000-0002-6657-0685YassamanKhaliliAssistant Professor, Department of Accounting, Payame Noor University, Tehran, Iran.0000-0002-1496-0251MostafaMalekian KalehbastiGraduated with a specialized doctorate in accounting from the University of Tehran, Tehran, Iran.0009-0002-1848-5168Journal Article20250213The COVID-19 pandemic has reshaped financial decision-making by intertwining mental health crises with economic behaviors, yet the mechanisms linking pandemic-induced depression to transactional activities remain underexplored. This study investigates how COVID-19-related psychological distress influences real-world trading behaviors among individual investors, employing a mixed-methods framework integrating behavioral economics, psychometric assessments, and regression analysis. Focusing on 384 traders in the Tehran Stock Exchange, the research reveals that pandemic-driven depression amplifies transactional volumes, particularly among men, driven by heightened liquidity needs and risk-seeking coping mechanisms. Gender emerges as a critical moderator, with women’s financial literacy and work experience buffering anxiety-induced trading volatility, while marital status and age mediate risk aversion differently across demographics. Contrary to expectations, financial education correlates with reduced distress but does not uniformly curb risk-taking, highlighting a paradox where self-confidence and systemic risk awareness coexist. The findings challenge assumptions of homogeneous crisis responses, emphasizing the role of sociocultural norms and resource conservation strategies in shaping financial resilience. By contextualizing transactional behaviors within the “stress proliferation” framework, this study advances behavioral finance paradigms, offering insights into the gendered and cognitive underpinnings of pandemic-era decision-making.http://www.ijfma.ir/article_24355_1aa559737cd37f919f3fb11a7b5b1c69.pdfIranian Financial Engineering Association(IFEA)International Journal of Finance & Managerial Accounting2588-4379134920260301Tokenization of Real Estate and Identifying it's Risks in Iran1011182435610.22034/ijfma.2025.78709.2298ENSomayehAmirkhaniPhD Student of Financial engineering. Department of Financial. Faculty of Management, Economics and Accounting. Tabriz Branch. Islamic Azad University. Tehran. Iran.RoyaAle EmranAssociate Professor. Department of Economics. Faculty of Management, Economics and Accounting. Tabriz Branch. Islamic Azad University. Tehran. IranRasoulBaradaran Hassan ZadehAssociate Professor. Department of Accounting. Faculty of Management, Economics and Accounting. Tabriz Branch. Islamic Azad University. Tehran. IranJournal Article20250809The present study was conducted with the aim of identifying and ranking the risks of real estate tokenization in Iran. The present study was a fundamental and mixed study in terms of purpose, in the qualitative part, based on the grounded theory method was used, and in the quantitative part, the structural equation modeling method was used. The statistical population in the qualitative section of the panel of experts in real estate renovation in Iran, 10 of whom were selected as the sample based on the rule of theoretical saturation and by purposive method, and the statistical population in the quantitative section was academic experts, officials and executive actors, 200 of whom were selected as the sample based on Cochran's formula and available method. The data collection tool in the qualitative part was semi-structured interviews and in the quantitative part was a researcher-made questionnaire whose validity and reliability were confirmed. To analyze the data, MAXQDA 13.28 and Smart PLS 3.2 software were used. The indices of goodness of fit and GOF=0.735 showed that the developed model had a good fit with the experimental data. The results also showed that LLR (β=0.749), ECR (β=0.688), SOR (β=0.651), TCR (β=0.617), FER (β=0.574), IOR (β=0.523), CRR (β=0.458) and IR (β=0.369) are the most important risks of tokenization of real estate in Iran (P<0.01).http://www.ijfma.ir/article_24356_8e8005fe9e75607ca4be6bc2cc0e1e2d.pdfIranian Financial Engineering Association(IFEA)International Journal of Finance & Managerial Accounting2588-4379134920260301Identifying and Ranking Weaknesses in Municipalities' Internal Auditing1191302435710.22034/ijfma.2025.78617.2280ENMinaBakhshizadehPhD student of accounting department, Firuzkoh Branch, Islamic Azad University, Firozkoh, Iran.ZahraYousefi AminAssistant Professor of Accounting Department, Firuzkoh Branch, Islamic Azad University, Firozkoh, Iran.NiloofarIman KhanAssociate Professor of Business Management, Firuzkoh Branch, Islamic Azad University, Firozkoh, Iran.YosuefAhadi SerkaniAssociate Professor of Accounting Department, Firuzkoh Branch, Islamic Azad University, Firozkoh, IranJournal Article20250713Municipalities are among the most important public institutions that have a great impact on urban order and discipline and have many financial and operational activities. Accountability is of great importance in this institution. Given the importance of accountability, corporate governance components such as internal audit should be considered. The aim of this research is to identify and rank the weaknesses of the internal audit of municipalities using the fuzzy Delphi method and the Analytical Hierarchy Process(AHP). In the first stage, to identify the components, specialized texts were studied and 14 experts familiar with the subject of internal audit and the activities of municipalities were consulted<br>. After mathematical calculations and fuzzification, 20 main weaknesses were identified<br>. Weak knowledge and competence account for the largest share of organizational problems, and weak quality control accounts for the largest share of managerial problems. Municipalities should develop their internal audit department and provide the necessary training in this field. This research has value and innovation in improving the financial and operational accountability of municipalitieshttp://www.ijfma.ir/article_24357_88894d2a720792fb60caa22d8cbeb66d.pdfIranian Financial Engineering Association(IFEA)International Journal of Finance & Managerial Accounting2588-4379134920260301Portfolio Risk Management in Oil, Gold, and Stock Markets Based on Dynamic Modeling and Targeted Risk Hedging1311482435810.22034/ijfma.2025.78661.2287ENMehdiZare KasgariPhD student, Department of Financial Engineering, Firouzkouh Branch, Islamic Azad University, Firouzkouh, IranSeyed YousefAhadi SarkaniAssociate Professor Accounting Department, Firouzkooh Branch, Islamic Azad University, Firouzkooh, Iran.Seyed MohammadHasheminejadAssistant Professor Department of Management, Medical Sciences, Islamic Azad University, Tehran, Iran.0000-0003-2224-0366AbdolmajidDehghanAssistant Professor Department of Management, Yadegar Imam Khomeini Branch, Islamic Azad University, Tehran, Iran.Journal Article20250721In recent years, financial markets particularly oil, gold, and stock markets have faced significant structural shifts and regime changes, intensifying risk spillovers and creating challenges for investors and policymakers in their decision-making processes. This study aims to enhance risk management and optimize investment portfolios by exploring the dynamic nature of risk transmission and developing effective hedging strategies over the period 2016–2023. To achieve this, a comprehensive hybrid framework is employed, integrating the Markov-Switching Vector Autoregression (MS-VAR) model, the Fractionally Integrated Asymmetric Power ARCH (FIAPARCH) model, and the Conditional Dynamic Correlation (cDCC) model. This combination allows for a more accurate examination of inter-market dependencies. The findings reveal that the degree of risk spillover varies across different regimes and intensifies notably during turbulent periods, leading to stronger correlations among markets. Moreover, the influence of oil and gold prices on the stock market index exhibits an unstable pattern, heavily shaped by political and economic conditions. Overall, the proposed hybrid model outperforms traditional approaches in detecting risk spillovers and formulating effective risk-hedging strategies, contributing to improved portfolio performance in volatile market conditions.http://www.ijfma.ir/article_24358_3548e4682a626fb125c56420344f8836.pdfIranian Financial Engineering Association(IFEA)International Journal of Finance & Managerial Accounting2588-4379134920260401Designing an Investor Decision-Making Model in the Tehran Stock Exchange Based on Quantum Probability Theory1491562435910.22034/ijfma.2025.78851.2318ENSaeedSadeghkhaniDepartment of Accounting, Sa.C., Islamic Azad University, Sanandaj, Iran.GhareibehEsmailikiaAssociate Professor, Department of Accounting, University of Ilam, Ilam, Iran.MasoudSeidiAssociate Professor, Department of nuclear physics, Faculty of Basic sciences, University of Ilam, Ilam, Iran.OmidMahmoodi KhoshrooDepartment of Accounting, Sa.C., Islamic Azad University, Sanandaj, Iran.Journal Article20251002One of the fundamental challenges in capital markets is identifying investor decision-making patterns under uncertainty. Investment decisions are usually analyzed through classical probabilistic models, while numerous studies show that investors often deviate from rational patterns and are subject to behavioral biases, ambiguity, and high volatility. In this context, quantum probability theory, as a novel framework, has been able to explain nonlinear and contradictory patterns of human decision-making better than classical models, through concepts such as superposition, entanglement, and the uncertainty principle. Accordingly, this research aims to design an investor decision-making model in the Tehran Stock Exchange based on quantum probability theory. This study applies a mixed-method approach (qualitative–quantitative). In the qualitative phase, 125 domestic and international studies were systematically reviewed to identify the key indicators affecting investor decisions. In the quantitative phase, fuzzy Delphi was applied with the participation of 18 capital market experts to validate the indicators. Then, the relationships among the indicators were analyzed using DEMATEL and Interpretive Structural Modeling (ISM), and their hierarchical positions in decision-making levels were determined. Findings revealed that “level of uncertainty,” “stock price volatility, and “investor confidence in disclosed information” have the highest impact on investor behavior. The final model showed that under Iranian market conditions, quantum probability theory is capable of explaining phenomena such as overreaction and herding behavior, which cannot be interpreted through classical probability approaches. The results of this study not only extend the frontiers of behavioral finance but also provide practical implications for capital market policymakers, stockbrokers,and individual investorshttp://www.ijfma.ir/article_24359_35945d8cd07da384dcfcc5f2e2658ef0.pdfIranian Financial Engineering Association(IFEA)International Journal of Finance & Managerial Accounting2588-4379134920260301Examining the impact and prioritization of corporate sustainability criteria on negative return skewness in the Tehran Stock Exchange1571662436010.22034/ijfma.2026.78714.2299ENMarjanAghjanpoorPh.D Student, Department of Accounting, Semnan Branch, Islamic Azad University, Semnan, IranArezooKhosravaniDepartment of Accounting, Semnan Branch, Islamic Azad University, Semnan, Iran0009-0007-8942-9346MajihaBakhshiDepartment of Accounting, Ayatollah Amoli Branch, Islamci Azad University, Amol, IranJournal Article20250811Corporate sustainability is an economic and pragmatic approach with the potential to create both opportunities and risks for business and trade. The impact and possible relationship between the financial dimensions of economic sustainability performance and the non-financial dimensions of environmental, social, and governance (ESG) sustainability performance have not yet been thoroughly and comprehensively investigated. The main objective of this study is to examine the impact and prioritization of corporate sustainability criteria on negative return skewness in the Tehran Stock Exchange. To achieve this goal, data were extracted from the financial statements of 148 companies listed on the Tehran Stock Exchange between 2013 and 2022. The results indicate that the significance level of the t-statistic for corporate sustainability reporting criteria is below the acceptable error threshold of 5%, thus confirming the impact of corporate sustainability reporting on negative stock return skewness. The results indicate that the significance level of the t-statistic for corporate sustainability reporting criteria is below the acceptable error threshold of 5%, thus confirming the impact of corporate sustainability reporting on negative stock return skewness.http://www.ijfma.ir/article_24360_9f8038b075d4a63d1835e671c2ff9b2e.pdfIranian Financial Engineering Association(IFEA)International Journal of Finance & Managerial Accounting2588-4379134920260301Identifying and Prioritizing the Constituent Factors of the Governance System of Holdings Based on Risk Appetite1671782436410.22034/ijfma.2025.78747.2308ENMohammadTaghiAbolhassaniDepartment of Business Management, Ra.C., Islamic Azad University, Rasht, Iran.0009-0002-8515-4406EbrahimChiraniDepartment of Business Management, Ra.C., Islamic Azad University, Rasht, IranGholamrezaMahfooziDepartment of Accounting, Faculty of Management and Economics, University of Guilan, Rasht, IranFraydoonRahnamay RoodposhtiDepartment of Financial Management, SR.C., Islamic Azad University, Tehran, Iran.Journal Article20250824The present research was conducted with the aim of identifying and prioritizing the constituent factors of the governance system of holdings based on risk appetite. In terms of purpose, this research is applied; in terms of data type, it is sequential mixed (qualitative–quantitative) with an exploratory approach; in terms of data collection method, in the qualitative section, it is qualitative content analysis with a thematic analysis approach, and in the quantitative section, it is descriptive–correlational. In the qualitative section, the statistical population consisted of all theoretical experts (university professors in the fields of financial management, accounting, and economics) and practical experts (senior financial managers of holdings). For calculating the validity of the questionnaires, content validity (Lawshe forms) and construct validity (convergent and discriminant) were applied, and for reliability, Cronbach’s alpha coefficient, composite reliability coefficient, and McDonald’s omega used. The results indicated the instrument was valid and reliable.Finally, data analysis conducted in the qualitative section using thematic analysis with the approach of Braun and Clarke (2012) via Maxqda-2018 software, and in the quantitative section using descriptive and inferential statistics (confirmatory factor analysis) via SmartPLS-V3 software. The findings indicated that the governance system of holdings based on risk appetite comprises the dimensions of organizational structure, decision-making processes, risk management, information transparency, and social responsibility. Prioritization of the dimensions and components of the governance system of holdings based on risk appetite showed that the highest priority among the dimensions, respectively, belonged to decision-making processes, social responsibility, organizational structure, information transparency, and risk management.http://www.ijfma.ir/article_24364_54492a88083312aefd7646573eecfc9e.pdfIranian Financial Engineering Association(IFEA)International Journal of Finance & Managerial Accounting2588-4379134920260401Development of a Model of Financial Literacy Impacting the Decisions, Behaviors, and Financial Well-being of Capital Market Investors1792042436110.22034/ijfma.2026.79159.2364ENSabaFarzamfarDepartment of Accounting, Ker.C., Islamic Azad University, Kermanshah, Iran.ForouzanMohammadi YarijaniDepartment of Accounting, Ker.C., Islamic Azad University, Kermanshah, Iran.0000-0002-6479-8918MehrdadGhanbariDepartment of Accounting, Ker.C., Islamic Azad University, Kermanshah, Iran.0000-0001-5403-0094NahidMohammadiDepartment of Accounting, Ker.C., Islamic Azad University, Kermanshah, Iran.Journal Article20260215The present study aims to develop a comprehensive model of financial literacy and examine its role in the decisions, behaviors, and financial well-being of investors in Iran's capital market. Considering the unprecedented growth in public participation in the capital market in recent years and the consequences arising from market fluctuations and instabilities, the need to gain a deeper understanding of the mechanisms affecting financial literacy in guiding financial decisions and behaviors is more evident than ever before. Regarding its objective, this study is applied in nature and descriptive-analytical in terms of research execution. In the first step, using a meta-synthesis method components effective on financial literacy for investors in the capital market including (a) education, skills, and personal development; (b) social, psychological, and cultural factors; (c) environment, demographics, and economic status; (d) laws, regulations, and government policies; and (e) access to informational resources were identified. These components formed the basis for designing a questionnaire to measure the variable of “financial literacy.” To measure the variables of decisions, behaviors, and financial well-being, a researcher-made questionnaire was used, which had a 5-point Likert scale and was distributed electronically and manually among 384 capital market experts. The reliability of the questionnaire was confirmed with a Cronbach's alpha to be higher than 0.70, and its content and construct validity was confirmed as well. Data analysis was conducted using Structural Equation Modeling (SEM) in Smart-PLS software. The findings showed all five components had a positive and significant impact on investors' decisions, behaviors, and financial well-beinghttp://www.ijfma.ir/article_24361_472d0b916c0de531fd1eb7ec1b961288.pdfIranian Financial Engineering Association(IFEA)International Journal of Finance & Managerial Accounting2588-4379134920260301Explaining Optimal Portfolio Management and Adverse Risk Management Using Econometric Systems2052182436210.22034/ijfma.2026.78861.2323ENShahramIzadiDepartment of Financial Management, SR.C, Islamic Azad University, Tehran, IranAliEsmaeilzadeh MaghriDepartment of Accounting, CT.C, Islamic Azad University, Tehran, IranFarzanehHaji HassaniDepartment of Economics, SR.C, Islamic Azad University, Tehran, IranShadiShahverdianDepartment of Financial Management, QC.C, Islamic Azad University, Tehran, IranJournal Article20251006The purpose of this research is to explain the management of optimal portfolio optimization and adverse risk management using econometric systems. The tool for collecting financial information is the data of top companies listed on the stock exchange, which derive their value from a base asset. Obviously, to enter the market of top companies, an investor needs to predict the future trend of particle swarm optimization to hedge their adverse risk. For this purpose, the present research has proceeded to select a suitable equation for modeling the economy of portfolio optimization and adverse risk management. Portfolio optimization in adverse risk management is shown for the years 2016-2021. In building the models, 65% of the data were used for training, 15% for validation, and 20% for fuzzy testing. The fuzzy model technique had better performance in predicting adverse risk, and the model that simultaneously uses scenario number one and ANFIS provides a more accurate prediction. This is because intelligent techniques provide a better estimate of the future return of adverse risk stocks (Value at Risk and Ultimate Expected Shortfall) compared to the historical average return.http://www.ijfma.ir/article_24362_a95fc8c14636fe3e40866d5ca57698ec.pdfIranian Financial Engineering Association(IFEA)International Journal of Finance & Managerial Accounting2588-4379134920260301Designing Key Performance and Risk Indicators (KPI/KRI) for a Five-Layer Framework of International Financial Transfers and Proposing an Automatable Management Monitoring Model2192322436310.22034/ijfma.2026.79145.2363ENMehdiGHasemian Oji TalaryPhD Candidate, Department of Finance, Science and Research Branch, Islamic Azad University, Tehran, IranFraydoonRahnamay RoodpooshtiProfessor, Department of Finance, Science and Research Branch, Islamic Azad University, Tehran, Iran.HamidrezaKordlouieAssociate Professor, Department of Finance, Science and Research Branch, Islamic Azad University, Tehran, Iran0000-0002-9498-0534ShadiShahverdianiAssistant Professor, Department of Economics, Shahre Qods Branch, Islamic Azad University, Tehran, IranJournal Article20260207This study designs Key Performance and Risk Indicators (KPI/KRI) for a five-layer framework of international financial transfers and proposes an automatable management monitoring model to control performance, operational risk, and compliance risk across the transfer lifecycle. The study addresses how a five-layer architecture can be operationalized into a measurable and managerially monitorable model in banking operations.<br>An applied, mixed-methods (predominantly qualitative) approach was used. First, initial KPI/KRI candidates were derived from qualitative evidence (expert interviews and coding). Next, a multi-round fuzzy Delphi process refined and validated the indicators and established expert consensus. Experts assessed each indicator on both “importance” and “operational implementability” to strengthen content validity and practical deployability. Indicator weights were then computed via normalization of expert scores, and the final indicators were organized by layer.<br>The results produced a finalized KPI/KRI set across the five layers—30 indicators in total (3 KPIs and 3 KRIs per layer): (1) inter-institutional financial exchanges, (2) social/decentralized FX network, (3) digital wallet, (4) stable-value digital currency (conversion and settlement), and (5) connectivity and operations management. Additionally, 12 priority indicators were selected for first-page dashboard monitoring and alert-driven managerial attention. The proposed monitoring model specifies calculation logic, monitoring frequency, control thresholds, and reporting/escalation pathways, enabling dashboard deployment and monitoring automation.<br>Layered KPI/KRI design combined with an automatable monitoring model upgrades the framework from a conceptual architecture to a measurable and controllable system, supporting operational decision-making through improved efficiency, transparency, traceability, and operational/compliance risk management.<br>Keywords: International financial transfers; KPI/KRI; Five-layer model; Automatable management monitoringhttp://www.ijfma.ir/article_24363_2804d14b1b70880c48b4cd4882e23ee0.pdfIranian Financial Engineering Association(IFEA)International Journal of Finance & Managerial Accounting2588-4379134920260401Developing a Financial Performance Evaluation Model for Companies with a Focus on Audit Committee Structure2332582409210.22034/ijfma.2025.78678.2291ENRaminZamani AmugheinPhD Student, Department of Accounting, Faculty of Management and Economics, Science and Research Branch, Islamic Azad
University, Tehran, Iran.0009-0005-2067-1586Ali AsgharAnvary RostamyProfessor of Finance, Tarbiat Modares University, Tehran, Iran. Jalal AleAhmad, Nasr, Tehran, Iran,0000-0002-7495-8276MaryamKhalili AraghiDepartment of Business Management, Faculty of Management and Economics, Science and Research Branch, Islamic Azad
University, Tehran, Iran.0000-0001-5016-2997AliSaeidiAssociate Professor, Department of Management, North Tehran Branch, Islamic Azad University, Tehran, Iran.0000-0001-9258-686XJournal Article20250727The audit committee represents a specialized and independent arm of the board of directors, established to reinforce oversight functions within the organization. Its responsibilities span the evaluation of financial reporting quality, the verification of auditor independence and effectiveness, the inspection of internal controls, and the supervision of corporate risk-handling frameworks.This research sets out to construct a model for evaluating firms' financial performance, centering on the configuration of the audit committee and integrating the intermediary effects of intellectual capital, financialization, and moral hazard. The proposed conceptual framework is tested through Partial Least Squares Structural Equation Modeling (PLS-SEM).Financial performance is gauged using metrics such as Return on Assets, Risk-Adjusted Rate of Return and Economic Value Added . Meanwhile, moral hazard is represented by indicators like insufficient investment and inadequate managerial effort. Findings reveal that audit committee attributes specifically its size, degree of independence, and members’ financial expertise play a significant role in enhancing firm financial outcomes. These improvements occur via the expansion of intellectual capital, the rise in financialization activities, and the reduction of moral hazard risks.http://www.ijfma.ir/article_24092_e0ecb3873e6e419111b667b4a9e80467.pdfIranian Financial Engineering Association(IFEA)International Journal of Finance & Managerial Accounting2588-4379134920260401Behavioral Characteristics and Auditors' Attitude to Marketing Activities2592702437110.22034/ijfma.2026.61514.1665ENMehdiMaranjoryDepartment of Accounting, Cha.C.,
Islamic Azad University, Chalus, Iran0000-0002-9952-5020Journal Article20210619The aim of this study was to investigate the effect of professional commitment on auditors' attitudes toward marketing activities with the mediating role of ethics. The statistical population includes auditors who are members of the Society of Certified Public Accountants who were considered to be employed in auditing firms. The research questionnaire was distributed and collected among 245 members of the statistical community as a sample. The research questionnaire was distributed and collected among 245 members of the statistical community as a sampleThe data collected by the questionnaires were analyzed by SPSS24 and Smart PLS3 software using structural equation modeling. The results showed that professional commitment has a positive and significant effect on auditors' attitudes toward marketing activities. Professional commitment through ethical orientation has a positive and significant effect on auditors' attitudes to marketing activities. Professional commitment through idealism and relativism has a positive and significant effect on auditors' attitudes to marketing activities.http://www.ijfma.ir/article_24371_d62e62abe24dcaa94f9e1b3678477b51.pdf