آرش هادی زاده

Small and medium-sized enterprises (SMEs) are considered the main drivers of economic development, and financial and technical support for them can have significant impacts on overall economic flows. Banks, as the primary arm for financing and credit provision to businesses, play an indispensable role in this regard. Thus, the primary objective of this study is twofold: first, to propose a model for national banks’ support aimed at fostering entrepreneurial behavior in SMEs, and second, to examine the significance and prioritization of key factors influencing banks' supportive role in developing entrepreneurial behavior in SMEs. To achieve this, the study utilized expert opinions from a panel of seven specialists in economics and banking from West Azerbaijan province for the qualitative section, and 464 managers from banks (specifically Sepah Bank) and SMEs in the province for the quantitative section. Data collection tools included semi-structured interviews for the qualitative phase and a researcher-made questionnaire for the quantitative phase. For data analysis and identifying influencing factors regarding banks' support for the development of entrepreneurial behavior in SMEs, thematic analysis and MAXQDA software were employed. Additionally, quantitative data analysis was conducted using structural equation modeling and AMOS software. The qualitative findings revealed that a total of 82 primary themes, organized into 14 organizing themes, can be identified in the context of banks' role in supporting the development of entrepreneurial behavior in SMEs. In the quantitative section, the significance and prioritization of causal, intervening, and contextual factors were examined. The results also demonstrated how the entrepreneurial behaviors of SMEs can either advance or stagnate based on banks' behaviors.

In Iran, the subject of taxation on intellectual property (IP) has not yet been introduced by the government or the Tax Administration. However, due to the significant volume of these assets in the Iranian economy and their trade and transactions, taxation on them is an inevitable necessity. As a result, the issue of taxation on intellectual property rights is being extensively discussed in academic and professional circles. Intellectual creations and social credits, such as inventions and trademarks, although difficult to create, are easily imitated, reproduced, and distributed with industrial and mechanical means. Consequently, the financial and economic benefits of intellectual property are often enjoyed by imitators and duplicators. Without proper support for creators, they may be unwilling to share their knowledge and assets. Therefore, intellectual property rights are recognized in most countries

In developing countries, the shocks that enter the economy due to capital market fluctuations have more depth and durability. Because of the two-way connection between the stock market and the real sector of the economy and public attention to this market, examining the stock market shocks is of great importance. Therefore, the present study investigated the extreme fluctuations of the stock market index, which suspected the existence of bubbles. Timing of these bubbles in the market is one of the goals of this study, which was carried out by using the right-tailed unit root tests based on the augmented Dickey-Fuller test. A stock price bubble may be affected by monetary policy. This issue is influenced by the size of the bubble and the type and strength of the applied monetary policy. The impact of monetary policy fluctuations and especially interest rates on stock price bubbles is theoretically uncertain and should be determined empirically. Therefore, another goal of this study is to examine the effects of monetary policy shocks on the formation and timing of the stock market bubble.

The method of Phillips et al.  (2015) has been used to identify and time the stock market bubble. Galli and Gambeti model and TVP-SVAR method were also used to investigate the effect of monetary policy on the stock market bubble.

BSADF (Backward Supreme Augmented Dicky-Fuller) test has been used to determine the dates when the stock market had a bubble. According to this test, in three short periods, from July to September 2005, from April to May 2011, and from October to November 2018, the stock market behaved like a bubble. Regarding the impact of the interest rate shock on the stock market bubble, it can be said that the monetary expansion shock (decrease in the real interest rate) causes the bubble part of the stock price to become larger. In all periods, the response of the bubble part was positive, but over time, has increased, and since the beginning of the 2010s, its response to the shock of interest rate reduction has completely changed. The liquidity shock, also strengthens the size of the bubble. The amount of this influence has also increased greatly over time and has reached its peak in 2017 (the year of the formation of the price bubble in the stock market based on the BSADF test). Therefore, it can be claimed that the increase in the bubble part of the stock price was caused by a positive shock or an increase in liquidity. Regarding the effect of the credit shock on the stock market bubble, it can be said that credits has affected the fundamental part of the stock price, but it does not have much effect on the bubble part of the stock price. In fact, the increase in credits has caused the liquidity restrictions of economic enterprises to be removed and has an effect on their production and sales and finally on their profitability. Therefore, it is expected that with an increase in credits (positive credit shock), most of the fundamental part (current and future profitability) of companies will be affected.

During the last decade, the public attention to the stock market in Iran increased significantly. This issue caused the entry of new funds into this market, which was seen in the bubble-like behavior of the stock price index. In the conventional economic theory, the positive impact of expansionary monetary policies on the bubble is expected, but there are other theories that make the long-term impact of the monetary policy shock on the size of the bubble uncertain and dependent on factors such as the size of the bubble, the stability of the monetary policy, and the type of monetary tool. In order to solve this theoretical ambiguity, the effect of one of these cases, i.e., changing the monetary policy tool, on the stock price bubble was investigated. Before that, the existence of a bubble in the stock market had been checked. Regarding the impact of monetary shocks on the stock price bubble, according to the type of monetary policy instrument, the reaction of the stock price bubble has been different. Interest rate policy and liquidity have had a positive effect on the bubble, but credit policy has not had such an effect. In most of the developed economies, the interest rate change is the most powerful monetary policy tool, as a small change in it can have a large impact on the real sector of these economies. But in our country, according to the empirical findings of this article, the effect of liquidity on the stock market bubbles has been greater than the effect of changing the interest rates on it. This result is a proof of the dominance of liquidity over monetary policies in Iran.

Small and medium-sized companies are considered as the main drivers of economic cycles in almost all countries and the importance and key role of these companies in improving indicators such as GDP and poverty reduction and improving national employment statistics per person Not covered. However, due to their special nature and characteristics, these enterprises have limitations in various fields such as human resources, financial resources, external communication, etc., which lead to the entry of governmental and non-governmental actors. In order to support them and to improve the financial and non-financial performance of these companies. In this regard, the present study seeks to identify different aspects of the support of these actors from small and medium companies.In the present study, the researcher has analyzed the results and findings of previous researchers using a systematic and meta-integrated review approach, and has identified the aspects of supporting small and medium-sized companies by performing the seven steps of the Sandlowski and Barroso method. In this regard, in order to measure reliability and quality control, the kappa method was used, the value of which was identified for the indicators identified at the level of excellent agreement. The results of the implementation of hyper-integrated steps in Max Kyoda software showed that the aspects of supporting small and medium enterprises are 4 general dimensions of non-financial measures of the banking industry, financial measures of the banking industry, non-financial institutional measures and institutional financial measures. The two dimensions include a total of 8 components and 55 indicators.

Given the importance of Islamic banking, the main purpose of this study is to investigate the impact of economic growth and investment in the country on the development of Islamic banking. This research is descriptive in nature and applied in purpose. Relationships between variables were investigated using the method of simultaneous equations based on statistical data from 1371-1376. Data from the Central Bank of Iran and the World Bank have been used to collect information to test the hypotheses. The hypotheses were analyzed using the 2SLS method and considering the variance heterogeneity and fixing it using generalized least squares (GLS) using Eviews software. In the present study, the root mean square error is used to express the explanatory power of the model, which has an acceptable value of 0.085, and the research model has a suitable explanatory. Findings show that with the increase and development of Islamic banking and its proper implementation, the economic growth index has improved. Also, the improvement and development of Islamic banking will increase investment in the country. There is also a positive and significant relationship between human capital and economic growth. Capital productivity and savings indices have a positive and significant relationship with economic growth and GDP has a positive and significant relationship with increasing investment in the country. Finally, with the increase of coins, the amount of investment in the country will decrease.

Due to these discussions and complications, the issue of tax on intellectual (intellectual) assets has not been raised by the government and the tax organization in Iran. But due to the significant amount of these assets in Iran's economy as well as their trade and commerce, taxing them is necessary and unavoidable. It is on this basis that the topic of tax on intellectual property rights is widely discussed in expert and scientific circles. The purpose of this research is to identify the effective factors on the capacity of tax revenues arising from intellectual property rights using multifaceted foundation data theory.This research is applied in terms of purpose and qualitative in terms of method, which was carried out using the grounded theory method. The method of data collection, library studies and in-depth interviews with 20 experienced university professors and experts of the country's tax affairs organization through targeted sampling until the saturation point is discussed. The validity of this research was examined and confirmed by the interviewees and then expert professors. Reliability was also obtained using the retest reliability method of 91%. To analyze the data, the continuous comparison method was used during three stages of open, central and selective coding.Data analysis showed that political, functional, organizational factors as causal factors; Organizational ability, organizations and organs, management, as categories; Systemic, human, structural, national factors as background factors; organizational, process, economic factors, as intervening factors; Technical and society factors, as organizational and national strategies and consequences, were identified and extracted as the consequences of factors affecting the capacity of tax revenues arising from intellectual property rights, which by creating an arrangement of causal conditions, contextual and intervening conditions, action strategies and consequences around The central category will help to create a complete and comprehensive understanding of the existing problem and solve it.The unique role of research and development in production, development and economic growth of countries is undeniable. In all developed countries, significant investments are allocated to the field of research and development, which has resulted in many social benefits for these countries.

Economic Growth is one of the Important Goals of Macroeconomics in any Society and Therefore Identifying the Factors Affecting Economic Growth is of Particular Importance. In addition to the Factors Affecting Economic Growth that are Addressed in the Conventional Economy, the Islamic Economic System has also Introduced and Presented Mechanisms that Play an Important Role in the Economic Growth of Islamic Societies. One of these Mechanisms is Zakat. Zakat is the Cornerstone of the Islamic Economic System and has many Economic and Social Effects and can play an Important Role in the Economic Growth of Islamic Societies. The Main Purpose of this Study was to investigate the Role of Zakat in The Effect of Monetary and Productivity Shocks on Investment and Economic Growth in Iran Using Seasonal Time Series Data of Macroeconomic Variables during the Period 1379 to 1396. For this Purpose, a New Keynesian Stochastic Dynamic General Equilibrium (DSGE) Model in a Closed Economy for the Iranian Economy, as an Islamic Country with an Emphasis on Zakat Payment, is explained and then Compared with the Effects of Productivity and Monetary Shocks on Investment and Production is discussed in two Systems of Conventional Economics and Islamic Economics. The Results show that when External Shocks Occur in the Islamic Economy (with zakat), Investment and Production do not Decrease and Zakat has no Negative Effect on Economic Growth.

Household Consumption Decisions Have a Significant Impact on The Behavior of Macroeconomic Variables in The Short and Long Run. One of The Factors Affecting the Consumption of Households in an Islamic Society Is Zakat, Which Is Established in Islam to Combat Poverty and Acts as a Tool to Redistribute Income and Wealth from The Rich to The Poor and Plays an Important Role In Ensuring Justice and Economic Welfare of Society. In Fact, Zakat Has Various Effects on Macroeconomic Variables, Including Consumption, and Can Play an Important Role in Mitigating Shocks to The Economy and Establishing Economic Stability. The main Purpose of this Study was to Investigate the Effect of Zakat on Consumption Stability in the Iranian Economy using Seasonal Time Series Data During the Period 1379 to 1396. To this end, a new Keynesian Stochastic Dynamic General Equilibrium (DSGE) Model in a Closed Economy is Defined for the Iranian Economy as an Islamic Country with an Emphasis on Zakat Payments, and then Compares the Effects of Productivity and Monetary Shocks on Consumption in The two systems of conventional economics and Islamic economics are discussed. The Results Show That the Islamic Economic System (With Zakat) Has Been Able to Absorb Economic Shocks and Smooth Consumption Fluctuations in the Iranian Economy and Zakat Can Act as an Automatic Economic Stabilization Tool. Also, by Reducing the Consumption of Zakat Givers and also Increasing the Consumption of Zakat Recipients, it is Concluded that Zakat Improves the Income Distribution and Reduces the Class Gap in Iran.

The underground economy is one of the problems of developing oil economies such as Iran. It is argued that the underground economy can hinder financial development, and from the reciprocal view, financial development can reduce the size of the underground economy. Accordingly, the present study examines the causality between financial development (bank-oriented and stock-oriented) and the volume of underground economy in the Iran's economy by the Hsiao causality method during the period of 1350-1396. In this study, the MIMIC approach was used to calculate the underground economy index in Iran. Based on the results, in the Iran economy before the oil shock of 1352 and also the period of revolution and war (1356-1368) has had a low level and decreasing trend in terms of underground economy. But for the rest of the years, the trend has been roughly incremental. According to the Hsiao causality test, the underground economy is not the cause of the bank based financial development-and stock based financial development; on the contrary, bank based financial development-and stock based financial development are the cause of the underground economy. This means that with financial development, part of the underground economy can be controlled in the Iran economy.

If there is a consensus about the existence of a bubble in the Tehran Stock Exchange, there is not much consensus about the time of its formation and evacuation. In addition, there is much disagreement about the reasons for the formation and effects of the collapse of the bubbles and its impact on the nominal and real sectors of the economy and its channels of influence. Therefore, identifying the time of formation, collapse and factors affecting the formation and collapse of bubbles and their impact on different sectors of the economy is questionable and research. For this purpose, in this study, the timing of the formation of stock price bubbles in the Tehran Stock Exchange and the impact of the production gap on its formation during the period 2004 to 2020 has been investigated. During the period under review, the stock market in three different periods in 2004, 2011 and 2018 has witnessed a price bubble. Also, the results of the study of how the output gap affects the stock market bubble, which was done using the TVP-SVAR method, indicate that the output gap is effective on the fundamental part of the stock price and its ineffectiveness on the bubble sector. Meanwhile, the effect of stock prices on the output gap from the wealth channel is positive, and as the market grows, this channel will be strengthened.

In this study, the hypothesis of per capita income convergence between the provinces of the Islamic Republic of Iran during the period 2000-2018 has been tested. The convergence hypothesis has been tested in several Persian articles, even at the provincial level. But the present study differs from previous studies in two ways. First, the use of real GDP per capita without oil data as a measure of per capita income that will eliminate the bias caused by alternative variables. Second, all previous studies have used cross-sectional data estimators to estimate the beta convergence equation, the results of which will be biased. However, in this research, the dynamic spatial panel data model and the SYS-GMM estimator have been used, which will eliminate this bias. Also, two types of matrices were used to study the spatial interactions between the provinces.The results show that, the slope of the absolute beta convergence model is negative and the hypothesis of absolute convergence is not rejected and the rate of this conditional convergence between the provinces of the country is equal to 10.5%. That is, regional inequality is declining during this period. In addition, the results show that the hypothesis of per capita income convergence is not rejected and the hypothesis of spillover effects due to spatial interactions between the provinces of the country is confirmed. Both effects of neighborhood overflow and migration are statistically significant, but the effects of migration overflow have a greater effect than the effects of overflow due to neighborhoods in the provinces. Sensitivity analysis from the three perspectives of changing the spatial interaction matrix, changing the alternative variable of real per capita income and changing the estimator shows the stability of the results and the lack of seriousness of the small sample bias for the SYS-GMM estimator.

Social capital can be considered a set of existing norms of society, which reflects the people’s trust in state institutions and each other. People's confidence in the government affects their decision to pay taxes. Social capital is an index that measures this trust.  The purpose of this study is to test the effect of social capital on tax revenue in provinces of Iran during the period from 2007 to 2015 and for this, the Panel Data method has been used. The innovation of this paper introduces a new way of calculating the social capital index of Iranian provinces. For this purpose, after examining the use of variables and methods for calculating this index, a method has been selected that seems to be compatible with the conditions of the Iranian provinces.  To do so, the Fukuyama method has been used, which is a way of measuring the absence of social capital. The results of this research show that GDP per capita and Gini coefficient have a positive and significant effect on tax revenue of Iranian provinces and three variables, per capita agricultural value added, unemployment rate and social capital index have a negative and significant effect on tax revenue of Iranian provinces.

This paper estimates the long term trend in Iran real GDP using a new econometric technique، Adaptive Least Squares (ALS). ALS is a special case of the Kalman Filter that allows for a time varying parameter model to be estimated relatively easily. The estimated trend is then used to estimate the output gap. According to results، coefficients of gaps in models with gap، are not significantly different from zero، thereupon model with intercept and trend and without any gaps have been tested. The output gap estimation that has been provided in this paper can be used in monetary policies. The comparison of results of ALS، OLS and HP filter shows that the ALS method provides a better estimate.

This article seeks to examine the export-led growth theory using Feder (1982) neoclassical growth model for Iran. For this purpose, time-series data released by the Central Bank of Iran for the years (1959-2007) has been used.After the unit root test, in order to investigate co integration between the two economic variables-export and GDP two Engel-Granger and Johansen's methods were used. Then, the causal effects of export growth on the growth of GDP and growth of investment were tested. Finally, the reactions of the variables to the shocks were investigated by estimation of vector autoregressive model (VAR), using the impulse response function (IRF) and variance decomposition methods.The findings of Engel-Granger's method didn’t confirm the co integration between the variables of the model. However, a co integration vector was found by Johnson's method. Furthermore, the causal relationship from export to GDP was confirmed but it was rejected from export to investment. Impulse response function showed that the response of GDP and export in response of one standard deviation shock has a similar trend. In the way that it regressed to its long run trend after 17 periods. Investment regressed to its permanent period after 8 periods. The findings of variance decomposition showed that 100 percent of the variation of GDP is derived from the variable in the first period and in the second period 91 percent of the variation of the GDP was explained by the variable and 1/3 percent of the variation was explained by investment.

The purpose of this paper is to investigate the effect of some macroeconomic variables on house price index. We apply a macroeconomic model with micro foundations that uses household income, stock price index, building service price index, housing completions, supply of money, and inflation to explain the changes in house price index. We use the ARDL and the ECM models and with the seasonal data for the period 1995-2006 to estimate the speed of convergence to equilibrium. Our findings indicate that the macroeconomic variables can explain the changes in the house price index in Iran, and the sign of estimated coefficients confirm the hypothesis.