هادی امیری

This study investigated the impact of financial education on the saving decisions of members in the microfinance funds of Aseman Project operated by Barkat Foundation. Specifically, it examined how fund membership affects individuals' financial knowledge and attitudes and how these in turn influence the quality of their saving behaviors. The research data were collected through structured interviews and analyzed using the Partial Least Squares-Structural Equation Modeling (PLS-SEM) technique. The findings indicated that financial knowledge had a significant positive effect on saving attitudes and behaviors. Membership in the microfinance funds was found to positively influence the participants' levels of financial knowledge and attitudes, but did not have a direct significant effect on their saving behaviors. This suggested the training provided by the microfinance institution impacted knowledge and attitudes, but did not lead to visible changes in saving behaviors and, consequently, poverty alleviation. While financial literacy is typically viewed as formal training provided to individuals, this study highlighted how membership in financial support programs could also shape financial knowledge and decision-making. This often overlooked pathway deserves greater attention in financial education research and practice.

Through investigating the phenomenon of tax evasion, tax experts are facing the constant challenge of designing and implementing policies to reduce tax evasion due to its hidden nature part. Agent-based models are one of the powerful tools for the behavioral simulation of tax evasion. By creating a virtual laboratory environment with agent-based models, researchers can examine the impact of different policies on people's behavior. In this research, people's behavior is modeled based on their risk-taking degree using a factor-based model; In such a way that the degree of risk-taking in this field is affected by three components of the social factors, the audit-penalty system and the amount of benefit from the public goods they received. The results emphasize the importance of paying attention to social factors, political factors, and government efficiency to reduce tax evasion behavior and increase the total amount of tax payment. The simulation result indicates that among the two audit-penalty policy combinations, a high audit and low penalty is a more suitable policy than a low audit and high penalty, and it causes the number of tax evaders to decrease, as well as the total amount of tax payment increase. Another result is that the government should pay more attention to distribution efficiency to reduce tax evasion behavior and allocation efficiency to increase total tax payments.

The taxation on bank deposits interest is an issue that has attracted the attention of economic policy makers in the tax domain. One of the important factors in taxer is the existence of appropriate tax bases, one of the good features of the tax base is its accessibility. In this paper, with using a dynamic stochastic general equilibrium model, the possibility of tax on interest deposits and its impact on macroeconomic variables are analyzed with seasonal data from 1991 to 2021. With the imposition of 10% tax rate on bank deposits interest, has decreased of production variables by 0.5%, capital stock by 1.12%, investment by 2.57%, other taxes 0.45% government expenditures by 1.22 %, volume of money by 1.41% and respectively, in addition it has increased loans by 0.27%, deposits by 0.85%consumption by 0.47% , inflation rate by 0.98%,. The result of the research shows that the application of this type of tax depends on the level of development of the financial system, the size of the government and the economic stability of the country. Therefore, due to the decrease in production when tax on deposit interest is applied, a suitable platform should be provided for the imposition of this tax in Iran.

Crystallization of contradictory behaviors of auditors despite the existence of laws and regulations, the same and similar codes of professional conduct can be indicative of the impact of factors other than regulatory laws and regulations in auditors' decisions. The objective of this paper is to investigate the impact of personal values and  moral philosophy on the ethical beliefs of auditors. The statistical population of the research is the members of the community of certified accountants and professional employees working in the auditing institutes of Iran in 2022, and due to the nature of the research, Cochran's sampling method was used to calculate the sample size. In this research, the number of 260 questionnaires among the auditors working in the audit organization and audit institutions member of the Certified Public Accountants Society of Iran was randomly distributed and the data extracted from them were analyzed using the structural equation approach and Lisrel software. The results show that personal values and moral philosophy impact auditors' ethical beliefs in such a way that conservation personal characteristics have more intolerant than open to change personal characteristics and self-enhancement personal characteristics have more tolerance than auditors' self-transcendental personal characteristics. in condemning the unethical behavior of the owners, and the moral philosophy of idealism has a positive effect and the moral philosophy of relativism has a negative effect on the ethical beliefs of auditors to condemn the unethical behavior of the owners.

Disclosure of information, especially information about company risks, provides investors with useful information about the inherent risks of the company. Whether this information signal has information content or not, it will lead to an increase in the investors' understanding and ultimately their reactions and changes in stock prices. Therefore, the aim of this study was to analyze the market reaction to risk disclosure factors, which included financial risk, operational risk, and strategic risk. To measure risk disclosure in this study, a method based on the content analysis of the board of directors' activity report to the general meeting of shareholders was used. Also, to investigate the market reaction, abnormal returns accumulated around the date of publication of the board of directors’ activity report were utilized. In the period of 2011-2019, among the companies listed on Tehran Stock Exchange (TSE), 655 years-companies were selected as a sample. Multiple regression was applied to test the research hypotheses. The results indicated that the total risk disclosure and types of risk disclosure, including financial risk, operational risk, and strategic risk, had a positive and significant effect on the abnormal returns on stock accumulation. In other words, the disclosure of risk factors had information content and the market reacted to their disclosure in the report of the board of directors.

The tragedy of commons is always an inevitable phenomenon in common-pool resources exposed to residents' selfish perceptions. Many researchers of empirical studies believe that self-governing institutions that emerge within a society can solve the tragedy of the commons, but what still needs to be added in guiding this choice is a clearer picture of the mechanisms behind the institutional emergence in the successful management of common-pool resources. Agent-based models provide a suitable tool for this task due to their extraordinary capacity to connect micro and macro levels. This The presents study seeks to develop a simple abstract model of the institutional emergence pattern by introducing the possibility of cheat and enforcement, which has been observed in renewable common-pool resource issues. This article study uses the ADICO institutional grammar as a basic structure to model the institutional rules and define the users' strategies. Users modify their behavior through a transformational process and establish a management institution to manage common-pool resources, eventually leading to many advantages for users and common-pool resources. The results show that even within this simplified model, the self-governing institutions maintain the resource balance at a stable level and improve the average income of the users compared to the open access in all social networks.

Groundwater is a natural common-pool resource that has long been a victim of tragedy of the commons due to selfish withdrawal of farmers During recent years. One solution to coping with this problem is to replace flood irrigation with large-scale irrigation system (LIS) within the framework of participatory conservation projects. As these projects are costly, they require financial support by the government and cooperation among farmers. In this study, given the unstable raining conditions and drying out of Zayanderud, an agent-based model (ABM) on participatory management of groundwater resources is proposed for 223 villages in Isfahan Province in the form of participatory conservative projects. The results of this study indicate sensitivity of model’s simulation and high sensitivity of villagers to the government’s financial supports. This model predicts when the government pays 85% of the costs for changing the irrigation system, the participation will rise to two-thirds. Further, the results of simulation suggest that with increasing the number of farmers, the rate of participation will significantly drop. Finally, according to different scenarios in this study, it is suggested that the government begins its financial support from the small villages with the pioneer group (near the pumping water) and scale-free social network.

The present study aims to determine the effect of financial statement comparability on the idiosyncratic return volatility with emphasis on the quality of financial reporting. To test the research hypotheses, 80 companies were examined among the companies listed on the Tehran Stock Exchange during the years 1389 to 1397. In order to test the research hypotheses, a multivariate regression model and combined data have been used. The results of the research indicate that financial statement comparability has a significant and negative effect on idiosyncratic return volatility. The research findings also showed that when the quality of financial reporting is poor, the effect of financial statement comparability on idiosyncratic return volatility is stronger. This study emphasizes the benefits of financial statement comparability. The financial statement comparability reduces the risk of uncertainty about the cash flows and firm future performance and causes idiosyncratic return volatility to reduce

Earning news is of particular importance to investors, and investors’ emotions are expected to influence their reaction to the actual content of earning news. Also, it is expected that positive emotions along with the publication of positive earning news and negative emotions along with the publication of negative earning news have a double effect on stock returns. In this regard, five hypotheses were developed in this study. A sample consisting of 125 companies was selected from among the companies listed on the Tehran Stock Exchange (TSE) from 2014 to 2019, and a multivariate regression model was used to test the hypotheses. The findings of the study showed that in companies with high emotions, the sensitivity of returns to good earning news was higher, and in companies with low emotions, the sensitivity of returns to bad news was higher. Also, the results indicated the informational content of earning news. These findings remind investors to be careful of the irrational market atmosphere and to pay more attention to overreacting to earning news both from the negative and positive aspects of price changes.

The ownership of common pool resources and their exploitation are jurisprudential issues that include various opinions. The present study provides evidence of governance and its problems in one of the micro-scale irrigation systems in Iran, assuming that it plays an important role in administering those resources, like those of transactions, custom and empirical knowledge. In this interdisciplinary research (economic, social and jurisprudential), data are provided from in-depth, focal interviews, field observations, and documentation and are analyzed in the framework of Institutional Analysis and Development (IAD). The results show that over time, the exploiters, using the resource characteristics organized a kind of exploitation mechanism in which, the upstream exploiters had no power compared to the downstream. However, after the government started playing a key role in administering this area based on the Nationalization of Natural Resources Law, by issuing drilling permits, it practically marginalized the institutional arrangements of the users at the level of collective action and caused a lack of indigenous knowledge. That sparked a dispute between the aforementioned exploiters. Thus, both the resilience of economic and social systems could decrease and the people were excluded from local governance. These findings indicate that the approach to governing common pool resources based on the current reading of the relevant jurisprudential rules, is not possible to adapt to environmental conditions.

Identifying the correct asset pricing model has long been an important topic in the thematic literature of financial economics. Such a model not only explains stock returns but also increases the ability to predict abnormal returns. The first models for estimating returns date back to the 1960s, when Markowitz (1952)'s new theory of securities attracted the attention of researchers. The first model for estimating returns was The capital asset pricing model (CAPM) which was presented by William Sharp (1964). In his research, William Sharp showed that return on asset was a function of line of market risk premium. But from 1975 to 1990, deviations and anomalies related to the CAPM model gradually became apparent. Following the recognition of these anomalies in accounting, in this study, based on the research of Penman and Zhou (2018), a expected return factor based on accounting characteristics is introduced. The purpose of this research is to evaluate the possibility of improving the performance of q-factor and adjusted q-factor with the expected investment growth factor’s models for explaining the difference between stock returns by adding the expected return factor based on accounting characteristics.

This is an applied research in terms of purpose and an inferential and descriptive research, in terms of method. To achieve the research objective, data of 345 companies enlisted in the Tehran Stock Exchange (TSE) and Iran Farabourse market, from 2006 to 2020, were gathered. Then based on consumption theory and accounting principles and assumptions, accounting characteristics affecting earnings growth and expected return were identified. After, the data was experimentally tested. In the following, the relevant characteristics in a factor are summarized as the expected return factor based on accounting characteristics to be used in the development of multi-factor pricing models. Finally, to evaluate the performance of multi-factor asset pricing models, test assets were classified into two categories (once considering the expected return, and once without considering the company’s expected return factor).

Numerous cases from both groups of test assets showed that the expansion of q-factor and adjusted q-factor with the expected investment growth factor’s models with the expected return factor based on accounting characteristics increases the probability value of GRS statistic, decreases GRS statistic, and increases their adjusted coefficient of determination. This indicated an improvement in performance and a considerable increase in the explanatory power of models containing the expected return factor based on accounting characteristics compared to their respective models.

The results of this research showed that the added expected return factor based on accounting characteristics to q-factor and adjusted q-factor with the expected investment growth factor’s models improves their performance in explaining the stock returns. Also, the test assets that considered the company’s expected return characteristic performed better compared to those that did not.

Many of the common natural resources of the world are in critical conditions. The solution to this crisis is the development of effective management institutions. However, there is no consensus on these institutions. Some economists believe that creating a privately owned entity can solve the management problems of these resources. Others support the control of resources by the central government. Some institutionalists consider the local management strategy as the solution to this crisis. In this study, an empirical meta-analysis was performed to examine what solution the Iranian studies on the management of water (as a common natural resource) have favored more and what factors they have considered for its success or failure. For this purpose, about 120 articles were collected from the Database of National Publications (Magiran), Noor Specialized Magazines Website (Noormags), Scientific Information Database (SID) of ACECR, and Comprehensive Portal of Humanities using ‘water management’ as the keyword. Seventy-three of these articles were related to the subject of the current study. The results of this research showed that most of these studies (about 70%) used a local participatory management solution and in order to investigate the reasons for its success or failure, they paid more attention to physical factors than institutional rules and arrangements. Thirty percent of the studies supported the market or government solution. In conclusion, this study suggests that more comprehensive approaches such as Ostrom’s analysis be used in future studies to find the most appropriate management method and its effectiveness in analyses so that common resources such as water can be managed more efficiently.

The aims of this study is to propose an appropriate model for identifying and classifying the factors affecting the pricing of the accounting information quality in Iran, further provide strategies for improving the contribution of the accounting information into the Iranian capital market.

In this research, thematic analysis method was applied on the data collected through interviews, as research instrument. For this purpose, 17 semi-structured interviews were performed with experts and authorities in the field of the capital market. The research method was validated in the coding, analysis, and modeling stages to ensure the quality of the research results.

A total of 21 factors affecting the quality assessment of financial reports by investors were identified. Moreover, based on the roles of the different constituents of the capital market, some solutions were proposed for improving the state of the accounting information quality pricing in Iran. Finally, the findings were presented in the form of a qualitative model.

In the process of obtaining information for economic decision-making, the contribution of each investor to accounting reports depends on their investment goal, level of financial knowledge, and percentage of. The micro investors who consider long-term horizons for purchasing the stocks based on a relatively good deal of financial knowledge are expected to price the quality of accounting information under the effect of various factors. Mainly four groups of factors were found to affect the pricing of accounting information quality, including the capital market conditions, political and economic circumstances of the country, special characteristics of the entity, and behavioral attitudes of the investors. As the main elements of the capital market, the legislators, financial reporting practitioners, and investors can take steps, as proposed in the form of solutions in this research, toward improving the state of pricing the accounting information quality in Iran

Interest rate defense is defined as a defense policy in the face of currency shocks and in order to prevent the outflow of deposits from the banking system, and to prevent financial instability and banking crisis. With the expansion of economic sanctions in the late 2010s, the exchange rate rose sharply, and as a result, the monetary authority increased bank interest rates to prevent the phenomenon of bank run. In this study, the effect of interest rate protection on the financial stability of private and public banks and the total banking system is analyzed. Variables affecting financial stability are divided into two groups of internal and external banks variables. The model is estimated based on the three-stage least squares method based on data from 2001-2019. The results of the study show that although the increase in banks rates in the occurrence of currency shocks has positively affected the financial stability of all banks and private banks but had no effect on state-owned banks. However, this policy is one of the reasons for the increase in non-current receivables in the banking system due to the effect of currency shocks on external bank variables such as inflation and increasing financing costs in economy.

Previous research on the impact of the auditor's tenure on earnings quality has had conflicting results. Based on the independence hypothesis, some researchers believe that increasing auditor tenure reduces the earnings quality. According to the specialty hypothesis, some researchers believe that increasing the tenure of an auditor leads to an increase in the earnings quality. In this study, to evaluate these two competing perspectives, the information asymmetry Between auditor and manager was used as a moderating variable. Therefore, the purpose of the present study is to investigate the impact of auditor's tenure on earnings quality under of information asymmetry between auditor and manager. For this purpose, the financial information of 103 companies listed in Tehran Stock Exchange between 2009 and 2018 was used. Data analysis was done by panel regression model. The results indicate that the auditor's tenure has a positive effect on earnings quality. The results also showed that the auditor tenure in firms with a higher level of information asymmetry between auditor and manager results in greater earnings quality.

The purpose of this research is to criticize the Iranian governments’ policies supporting the Foreign Direct Investors. In this regard, 243 questionnaires have been distributed among actual investors (active in the country) and 107 questionnaires among potential ones; by collecting and applying Heckman two-step model, we analyzed them. Uusing Heckman two-step model was necessary because factors influencing potential investors’ behaviors to come or not to Iran were not necessarily the same as the factors influencing the amount of investment inflows by actual investors. Accordingly, in this article, the soft dimension of business environment (encompassing incertitude due to Political Instability, Xenophobia, ...) is differentiated from its hard dimension (encompassing Bureaucratic Environment, Government Executive Inability, ...) which can influance on the way that these dimensions impact on investor’s behavior. The results indicate that while in deciding to come to Iran, the investors only consider the soft dimension and its decisive importance, policy making in the field of Foreign Direct Investment (FDI ) are concentrated only on hard dimensions of the matter. For investors, deciding to enter Iran, the soft dimension is important to them, not the hard dimension, but after entering the country, hard dimensions also becomes important, so that if the country's status is suitable in terms of hard dimensions, actual investors will be more motivated to develop their business and bring more capital in to the country. Improperly prioritizes issues that the investors face, can be one of the failure factors of current policy making to attract real investors.

The economy is full of opportunities through which individuals have to decide under different rules. Modeling individuals' behaviors under these additional rules are pursued in experimental economics. The present paper addresses some of the critical institutional questions in governance in the Iranian economy, using experimental economics. The data were collected and created out of 480 simulation runs of joint pool resource harvesting where resource users had asymmetric power for harvesting the resource. Alternative institutional arrangements, each representing different governance of natural resources, were simulated in these experiments. This paper concentrates on the three factors of harvesters' communication, the origin of regulations (the harvesters or the government), and rule enforcement (the amount and probability of violators' fines). The results indicate that in the situations where participants are allowed to regulate, harvesting the natural resource is equal to where the government is in charge of regulating. For an external regulation, the worst way to harvest it is when the government fails to guarantee the rule enforcement (the probability of a fine is low). Under such circumstances, resource harvesting is even more unequal than the open-access state. Exogenous regulation leads to crowding-out altruistic motivations.

The Dictator Game can describe many environmental challenges. That is the conditions where exploiters have asymmetric power in exploitation. For solving such environmental problems, solutions have been proposed, several of which focus on exogenous factors and others on characteristics of users. In this research, we are looking for a solution to one of these problems in the field of water for Iranian exploiters. To do this, we used experimental economics in the context of institutional analysis and development framework. The game was played in 19 groups of 5 participants with 1767 observations and then estimated using an econometrics model. This study showed that creating a club good downstream of the river and supporting local regulation (along with intra-system monitoring) can enable water distribution to occur more uniformly among users. Additionally, supporting local regulation has more substantial effects than the creation of club goods in water distribution. Furthermore, the data analysis obtained through the experiment and Ring Game shows that if the upstream exploiters have an other-regarding social value orientation, it produces positive effects on the exploit of other people so that the downstream exploiters also benefit from water. Thus, this research can have some implications for solving Iran's environmental problems similar to the dictator game.

recognizing the most important factors affecting the position of the accounting information in the capital market of Iran. For this purpose, we begin with classifying the factors affecting the accounting information quality by their origin of them.We applied the analytic hierarchy process (AHP) to prioritize four groups defined as the source of the factors along with their 21 sub-sets. The research findings showed that political and economic conditions of the country represent the most important factor affecting the process of accounting information quality pricing by investors. Besides, some of the most important factors affecting the pricing of accounting information quality were identified as follows: The factor of the general atmosphere of the capital market from the capital market conditions group, the factor of political events and ambiguity about the future from political and economic conditions group, the factor of fundamental features of the business unit from the business unit characteristics group, and the herd behavior factor from the group of behavioral patterns of investors.

The purpose of this study is to analyze the information content of sentiment (tone) in the board's activity reports and compare explanatory power of different methods of measuring sentiment.

The sentiment was measured by general word list and domain-specific word list with equal weighting and wf-idf weighing method. The sample of this study consists of 512 firm-years from 2009 to 2018. Panel data method and Vuong test were used to test hypothesis.

The results show that the market reacts to the sentiment of board's activity reports in the short-window of announcement date anduse of domain-specific word list and the wf-idf weighting method for measuring the sentiment did not increase the explanatory power of the models used to analyze the information content of sentiment.

sentiment of board's activity reports have information content and use of different weighting methods does not change the results of the study. Contribution:Providing evidence about market reactions to the sentiment of board's activity reports, creating domain-specific word list to measure sentiment in Persian language, as well as comparing prevalent weighting methods, are the main contribution of this study.

Detection of underwater targets in high-reverberation and shallow water environments by sonar is a complicated and complex process. In this paper, a hybrid waveform has proposed to improve detection with high range resolution. First, after analyzing the HFM waveform, it was shown that the HFM waveform is a better option than LFM for moving purposes. In the HFM wideband waveform, as the bandwidth increased, the peak-to-side lobe (PSL) ratio increased and the probability of detecting weak targets decreased. Therefore, a method for designing the waveform by separately amplitudes has proposed. Then in order to reduce the peak-to-side lobe ratio (PSLR) ratio and increase the target detection probability (Pd), codes with a minimum peak-to-side lobe ratio to Designed waveform combined. Then, the ambiguity function of the proposed waveform has calculated and plotted, and the Doppler sensitivity property was observed due to the thumbtack-like Ambiguity Function. A distinctive feature of the proposed algorithm is that the transmitted waveform can be designed in proportion to the intended speed of the target, and the probability of detection is significantly improved. The evaluation results show that there was a significant improvement in the PSLR criterion compared to the LFM waveform. Also, in the Q function criterion, the detectable reverberation level of the proposed waveform is significantly superior to other state-of-the-art sonar waveforms.

Propensity score matching is extensively utilized in estimating the effects of policy interventions and programs for data observations. This method compares two treatment and control groups to make statistical inferences about the significance of the effects of these policies on target variables. Therefore, when using propensity score matching, it is significant to obtain the standard error to estimate the treatment effect. The precise estimations of variance and standard deviation facilitate more efficient statistical testing and more accurate confidence intervals. However, there is no agreement in the literature on the estimation method of standard error; some methods rely on resampling, while others do not. This study compares these methods using Monte Carlo simulation and calculating the Mean Squared Errors (MSE) of these estimators. Our results indicate that Jackknife and standard methods are superior to Abadie and Imbens (2006) bootstrap, and subsampling ones in terms of accuracy. Finally, reviewing Tayyebi et al. (2019) indicated that different methods of estimating variance in the matching estimator led to different statistical inferences in terms of statistical significance.

The behavior of Opec’s main exporter such as Saudi Arabia has been the most important problem of Iran and other oil importer or exporter countries. Excess capacity in oil production of Saudi Arabia let them, in respect to other OPEC's members such as Iran, have different behavior in normal and interruptions. In this paper, we use seasonal data in the 2000-2018 period. We modified griffin’s model and estimated it by the ARDL method and investigate the export’s behavior of Saudi Arabia in normal and interruptions periods. We decomposed the other OPEC variable into four different states to evaluate Saudi Arabia's responses in these states. Empirical results show that Saudi Arabia's exports in the normal periods (stability in oil markets) are coordinate and symmetric but in interruptions periods (wars, sanctions,…) is not coordinate and asymmetric with the rest of OPEC countries. also if other OPEC counties have a cumulative increase in oil exports, Saudi Arabia responds in normal and interruptions periods are symmetric (its response is equal in export quantity) but not coordinate (its response is in opposite direction, so export coefficient is negative). This negative coefficient shows that Saudi Arabia's responses in interruptions periods have a stabilizing effect on oil markets. also if other OPEC counties have a cumulative decrease in oil exports, Saudi Arabia's response in normal and interruptions periods is not only asymmetric (its response is not equal in export quantity) but also not coordinate(its response is in opposite direction, so export coefficient is negative). Here also a negative coefficient shows that Saudi Arabia's responses in interruptions periods have a stabilizing effect on oil markets. But the empirical result of griffin's model (1985) says that an export cut by other OPEC, Saudi Arabia's response to these four states is similar.

Regulation is one of the important socioeconomic tasks of governments. Regulation literature focuses on government intervention in the markets and determination of structure and the rules governing it in order to regulate the production and distribution of commodities. The commodity exchange is one of the leading regulatory bodies, which conventionally results in regulating commodities market by providing a convenient, transparent, and observable trading system. The advantage of commodities exchange is the presence of regulatory and supervisory bodies by which all producers, consumers, and traders enjoy the benefits of commodity regulation, but the institutional barriers to competitiveness can, however, prevent the regulation from being effective on prices. This study aims to test the effects of regulating the listed commodities in Iran Mercantile Exchange on commodity price fluctuations. To this end, price movements of 20 commodities traded on Iran Mercantile Exchange are compared with 20 ones not listed in Iran Mercantile Exchange using their coefficient of variation (CV) and Propensity Score Matching method. According to the results, the supply of commodities on the Iran Mercantile Exchange has led to an increase in their price fluctuations compared to similar off-exchange ones. In other words, trading commodities on Iran Mercantile Exchange has not prevented price fluctuations because the institutional barriers to competitiveness affect regulatory facilitation and cause its ineffectiveness.