جستجوی مقالات مرتبط با کلیدواژه "stock exchange" در نشریات گروه "مالی"

In this paper the price bubble contagion in two currency market and the stocks market in a six year period (2015-2021) is investigated. For this purpose, the price bubble of both markets was examined and the dates of their formation and collapse were determined by using (RADF), (SADF),(GSADF) test. Then the contagion of the bubble in the financial market of Iran was investigated using a regression model. The findings of this research showed that there was a bubble in the foreign exchange market during five periods of 2016:10:31-2017:01:21, 2017:10:03-2018:12:16,2018:12:23-2019:07:14, 2020:02:22-2021:01:17 and 2021:01:23-2021:03:19.There were four bubble periods in the stock exchange for the total price index in periods 2016:02:06-2016:04:28,2017:09:04-2017:10:10,2017:10:17-2018:04:19 and 2018:06:10-2021:03:19. Also, the results indicate that the contagion of the price bubble from the currency market to the stock exchange market is statistically significant and the contagion of the bubble has occurred between the currency market and the stock exchange market .

The issue of flexibility as well as its influencing factors in today's world has become one of the most important priorities in macro-policy-making at the level of investment companies, the expansion of security, economic, social, and therapeutic crises. ... has led companies to address these crises safely and to promote resilience and flexibility, so in the present study, the researcher seeks to identify and prioritize effective factors Financial flexibility in Tehran Stock Exchange Companies is influenced by the purpose of this study, given that one of the complications of stock companies in the current economic conditions in the country, Practical and data collection is descriptive and analytical. The method of data analysis is a fuzzy mapping approach in which the researchers are intended to determine the preference and privilege of variables through the questionnaire and distribute it to 30 managers in the stock market companies as targeted and available sampling and accessible. FCMAPER software used to analyze data. The results of the study showed that 41 factors were effective in the flexibility of companies, including three factors "formulating financial policies and strategies on a specified time horizon", "Increasing Market Integration" and "Integration of Integration", respectively, the highest respectively. The influence and three factors of "participatory management", "effective role of social responsibility" and "qualitative reporting"

It is important for investors and traders to be aware of the stock price in listed companies, so it is important to identify the factors affecting Stock price informativeness. The purpose of the current research is to interpret the structural modeling of factors influencing Stock price informativeness in companies listed on the Iranian Stock Exchange.The identification of factors affecting informativeness through research background and semi-structured interviews with qualitative content analysis method based on theoretical saturation technique was done with 17 professors and financial managers. The validity of the qualitative part of the research was confirmed by the method of relative content validity and reliability using Cohen's kappa index. Coding of the interviews using MAXQDA software led to the identification of 41 effective factors, after referring to experts and drawing a pie chart, 34 factors were determined as the most important factors affecting Stock price informativeness. In order to stratify and model the structural interpretation of the identified factors, the opinions of 41 financial managers of listed companies were used with the available non-probability sampling method and with the help of a paired comparison questionnaire. The validity of the questionnaire was confirmed using the content validity and its reliability using the test-post-test method.Interpretive structural modeling of the factors affecting Stock price informativeness led to the formation of thirteen levels, where economic factors and financial macroeconomic policies were the most effective, and transparency of financial information, auditors' management letter, and the type of auditor's comments were the most effective factors. Conclusion Identifying factors affecting awareness and information disclosure by companies in the financial sector is essential, it helps investors and other stakeholders to make more informed decisions.

Despite the extensive literature related to the productivity of companies and the wealth of shareholders, there has been less research that can model the wealth of shareholders based on the productivity of companies and industries. On the other hand, today corporate social responsibility is a vital issue for most organizations and managers and has strategic implications for companies in all industries. Therefore, the current research was conducted with the aim of investigating the effect of productivity on shareholders' wealth, relying on the role of social responsibility dimensions in Tehran Stock Exchange companies and industries. The important issue in this research is the effect of productivity at the two levels of the company and industry, considering the different nature of the activities of companies and industries on the wealth of shareholders and the separate role of internal and external dimensions of social responsibilities in this field. The present research is applied in terms of purpose and descriptive-correlational in terms of method. The statistical population of the research included all the companies admitted to the Tehran Stock Exchange between 2013 and 2022. The research data was extracted from the financial statements of companies active in the stock market. Data analysis was done with multivariate regression models using panel data. The results of this research show that productivity has a significant positive impact on shareholders' wealth and social responsibilities have a positive moderating effect on the relationship between productivity and shareholder wealth.

Forecasting the stock price due to its attractiveness has always been on the focus of experts and capital market activists. In such a way that various prediction models such as technical and fundamental analysis and data mining are increasingly used to predict stock prices. Past studies indicate the possibility of stock price prediction by machine learning models, but the prediction accuracy of these models has not been evaluated. The purpose of this research is to accurately compare the intelligence of five commonly used data mining algorithms, including neural network, Logestic regression, k-nearest neighbors, support vector machines and cross validation. Among the 385 active companies in Tehran Stock Exchange, 72 companies have been selected by the method of systematic elimination and the above models have been implemented to predict stock prices on the daily prices of selected stocks for the years 2009 to 2020. The stock price is used as a dependent variable and changes in the opening price, closing price, highest price, lowest price and volume of trade, daily price of forign currency, gold and oil price are used as independent variables. Three indicators R2, MSE and RMSE are used, to evaluate the accuracy of models, and analysis of variance using F statistics is used to fit the accuracy of the models, and t-student statistic is used to compare two models. The results are showed that among the smart algorithms used, the support vector machine algorithm has the highest accuracy. Matlab software is used to analyze the data and compare the models.

Supervision of the auditing profession and the profession's activists has entered a new phase since 2002 with the bankruptcy of Enron and the approval of the Sarbanes-Oxley Act. What can be seen in the international arena and in developed countries is the move towards the specialization of the supervision of the auditing profession and the independence of the supervisory body from the profession. In Iran, the issue of monitoring the auditing profession has been a topic of discussion in professional and academic circles for a long time. In this regard, in this research, an attempt is made to first study the experience of developed countries in monitoring the auditing profession, and then by referring to the opinions and opinions of experts and experts of the capital market, the harms of the current approach are identified and the desired situation is drawn. The findings of this research, which was conducted with a qualitative and integrated method of comparative study and in-depth interviews with experts, indicate that the majority of the interviewees agree on the ineffectiveness of the institution proposed by the parliament as the steering organization of the audit system and the need to use the existing facilities and Modification of current structures and improvement of processes and methods are emphasized. Based on this, the proposed model of the research is presented in the form of a conceptual model with the aim of providing a suitable alternative solution for monitoring the auditing profession.

Despite the benefits of offering and listing companies' shares in the capital market and the world's success in this regard, in Iran, this is accompanied by obstacles that make companies reluctant to offer to the capital market. Therefore, this study aims first to identify barriers to offer and list companies in the capital market and then to provide operational solutions to eliminate them. Obstacles and solutions were collected through 10 semi-structured interviews with experts with a purposeful approach. In the data analysis stage, the content analysis method was used, and the points extracted from the interviews were divided into three themes: basic organizing and comprehensive. The results were then returned to the interviewees to obtain approval.30 basic themes were extracted from a total of 76 codes, and these themes were classified under five organizing themes, including 1. Cultural 2. Legal 3. Regulatory 4. Financial-economic 5. Administrative. Finally, 11 solutions related to organizing themes were extracted from the interviews.

The purpose of this research studies the impact of financial managers' cultural intelligence on the financial reporting quality of the firms listed in the Tehran Stock Exchange. The instruments of this research were the Cultural Intelligence Questionnaire (David Livermore, 2009) and the financial statements of the firms listed in Tehran Stock Exchange to study of the financial reporting quality. For this purpose, the data of 98 companies listed in Tehran Stock Exchange have been collected and processed. The realm of research is from 2013 to 2017. In this research, the modified Jones model is used to measure financial reporting quality. The findings of this research showed that the cultural intelligence of financial managers has a Positive and significant impact on financial reporting quality. So that for each change in each component of cultural intelligence (Motivational cultural Intelligence, Cognitive cultural Intelligence, Metacognitive cultural Intelligence, and Behavioral cultural Intelligence) Major changes have been made in the positive and significant direction in the financial reporting quality.

The spread of the corona virus has led to negative reactions of financial markets in different countries and the fall of indices. The purpose of this research is to investigate the stock price index in selected groups of the capital market in Iran in this period and provide a model to predict the index. In this research, using the panel data regression method using Arch. GARCH has been used to investigate the stock price index in twelve selected groups of stocks with twelve different hypotheses in 189 companies in a two-year period (2008-2018). The results showed that Corona has a negative and significant impact on the price index of all groups except the pharmaceutical group. Also, vaccination has had a negative and significant effect on the price index of most groups. However, this factor did not have a significant effect on transport, communication devices, multi-field holdings, basic metals, and also technical engineering services ultimately. This means that the spread of this disease and its results, such as the number of deaths, have had major consequences on the return of the capital market in Iran.

One of the most difficult decisions for private/intuitional investors of stock exchange market is finding the best combination of shares (portfolio) which meets their financial expectations. Therefore, a systematic performance evaluation of companies in stock exchange is a critical prerequisite for their investment. By developing a combined multi, criteria decision analysis (MCDA) approach; this research aims to help investors in evaluating Tehran stock exchange industries. To this regard, after determining the weight of the five main criteria in financial performance evaluation of the stock exchange listed companies using analytical network process (ANP), WASPAS, PROMETHEE II and ELECTRE III methods, the listed industries in Tehran stock exchange were ranked during a 10 years period (2011 to 2020). Next, the results of the applied methods combined for each year using Borda aggregating method and the ranks of the industries in each year were calculated. Finally, using Spearman's rank correlation coefficient, the outputs of the applied methods compared with the rank of Borda method. According to the results, ranking of the ELECTRE III method has the highest correlation with Borda method. Therefore, ranking of the ELECTRE III method selected as the best ranking.

Stock price informativeness refers to the extent to which the market price of a share is informative and contains information about the real and underlying economic conditions of that share. It can be one of the most prominent topics in the field of company investment in developed and developing markets. Several factors can affect stock price awareness. Companies proficient in effectively communicating and disseminating information to investors tend to achieve superior performance in the capital market, often resulting in an increase in their stock prices. Stock price informativeness enables companies and industries to be aware of the latest developments and events related to the capital market and thus, to make intelligent investment decisions. Stock price informativeness denotes the degree to which a share's market price conveys valuable information about its true underlying economic conditions. Accordingly, this study endeavors to enhance our understanding of this domain by evaluating the efficacy of factors that influence stock price informativeness. Accordingly, the purpose of this research is to investigate the effectiveness of factors affecting the informativeness of stock price announcements in companies listed on the Tehran Stock Exchange.

This research employs a mixed-methods approach, combining both qualitative and quantitative methods within an inductive-deductive framework. The research participants in the qualitative part were professors and financial managers. According to the purpose of the research, sampling was done in a purposeful way, using the snowball technique, with a number of 17 individuals. The research's statistical population comprised financial managers from companies listed on the stock exchange. Out of this population, 68 managers in this field participated in the study, selected through the stratified probability sampling method.

The data obtained from semi-structured interviews led to the extraction of 41 factors influencing stock price informativeness. In this research, the focus has been on factors that impact other variables, along with factors that are influenced by them. Additionally, it has identified factors that permeate and are receptive to permeation. Based on Dematel analysis, management stability factors, management strategies, board experience, and transaction volume are the most important factors that are both penetrable and penetrant. Among the factors examined, state ownership, political conditions, economic factors, and capital market laws exert the most significant influence. Additionally, factors such as managerial stability, strategic company management, the presence of a strategic plan, and growth expectations have been found to have the greatest impact among the other variables.

In this research, the factors affecting stock price informativeness have been identified. "Given that the decisions made by managers and investors hinge on their understanding of stock price information, it becomes imperative for researchers and financial industry executives to place significant emphasis on cultivating this awareness and comprehending the factors that influence it". "Therefore, the researchers of the present study suggest that diversifying ownership, delivering timely and precise financial information to investors, and fostering interaction with shareholders can be instrumental in bolstering investors' trust in the company's management and decision-making".

AbstractThe purpose of this study is to study the market timing and provide a model for investors to make the right and responsible decisions against their capital and tries to examine the capabilities of man-angers of mutual funds in the Iranian capital market, whether they are time skills Have market assessments in choosing their investment portfolio or not. Therefore, the variables of the present study, using the implementation of a combined method of multi-attribute decision making and scenario analysis of "expert system proposed by Hosseini Nasab" [2], we used the A N P method. The results showed that it is possible to provide a comprehensive "timing" model for the capital market and In-prove the performance of professionals, and the future movements of the market can be predicted using the market timing strategy; Also, comparing the models of market timing strategy, the results showed that the timing strategy of seasons and dates, in comparison with the strategies of using moving average and seasonal timing of Sai Harding, have an effect on managers' performance and predicting future market movements; But compared to Mark Walker's seasonal timing strategies and Hirsch's best six-month timing strategies, it is less effective.

The purpose of this study is to investigate the relationship between changes in new communication technologies and fluctuations in the Tehran Stock Exchange index (or market risk). The issue is important because the development of financial markets and its impact on cyberspace and the field of information and communication technology, on the one hand can cause fluctuations and consequently abuse for some, and on the other hand can raise awareness and provide Proper information to reduce fluctuations, and therefore the subject requires proper management and the establishment of correct and efficient laws in this area. To answer the main question of the research, data of information and communication technology and stock price index fluctuations. have been used as the main variables and price fluctuations in the goods and services market, exchange rate fluctuations, gold price fluctuations and crude oil price fluctuations as control variables during The time period of 1991-2020 has been used. the results obtained from the ARDL method indicate that the ICT index has a negative and significant effect on the stock market fluctuations. In other words, the improvement of the ICT index over the past years has reduced the fluctuations of the stock market. Therefore, by properly managing and improving the performance of ICT indicators, the risk of financial markets can be reduced and fluctuators in the market can be prevented from being abused. The effect of control variables has been evaluated.

One of the main factors in promoting the financial and economic efficiency of the firm is corporate governance, which includes a set of relationships between the company's management, board of directors, shareholders and other stakeholders. Also, the importance of the company's financial management decisions in the optimal allocation of resources and the role of corporate governance in improving it, shows the necessity of the subject. Therefore, the amount and direction of the impact of various aspects of corporate governance, including ownership and independence of the board, the share of institutional investors and duality of CEOs using the financial data of companies on the Tehran Stock Exchange during the period 1393-97. For this purpose, the components of corporate governance are considered as predictor variables and the variables of leverage, size and life of the company are considered as control variables. The results show that board share ownership has a significant impact on investment decisions and company performance. Also, the independence of the board of directors as one of the dimensions of corporate governance is significantly related to the three components of financial management decisions.

The purpose of this study was to design an optimal model of venture capital development in Iran using grounded theory. The research method was mixed qualitative and quantitative. For this purpose, firstly, the qualitative approach underlying the paradigmatic model of research including causal conditions, interventionist conditions, contextual conditions, strategies, outcomes, and pivotal categories of venture capital has been extracted. Data were collected through qualitative interviews. The statistical population of the qualitative sector includes venture capital experts who were selected by theoretical sampling method for 20 interviews. At the quantitative stage, each of the extracted categories has been verified using confirmatory factor analysis. The data collection tool in this section was a researcher-made questionnaire that was designed based on qualitative extraction concepts. This questionnaire was distributed among the sample members after determining the validity and reliability. The statistical population of the quantitative section consisted of managers of stock companies. The sample size of this section is based on the recommendations of 210 confirmatory models. The qualitative results showed 67 concepts in the form of 15 sub-categories and six main categories to develop venture capital. The results of the quantitative section also showed that each of the main and sub-categories extracted from the research experts can be generalized to the managers of the stock companies.

The purpose of this study was to investigate the relationship between weaknesses in internal controls and the risk of fraud in financial reporting. There are two perspectives on the effectiveness of internal controls as an important part of the governance system for non-fraudulent conduct. According to the first view, the strengthening of internal controls reduces the occurrence of fraud, and according to the second view, because of the ability of managers to override internal controls, internal controls do not have the necessary effectiveness in terms of fraud. In order to achieve the research purpose, using sample data from 152 companies listed in Tehran Stock Exchange during the period 2012 to 2017 and Logit regression approach to test the research hypotheses were studied. Benish's (1999) model was used to measure the risk of fraud in financial reporting. The findings suggest that, despite weaknesses in internal control and weaknesses in internal control, the risk of fraud in financial reporting increases. These findings are in line with the first view.

 One of the main sources of information for investors to make investment decisions is the information contained in the financial statements published by companies. Public disclosure of financial statements in the form of different information channels, generates thoughtful reactions among investors. Audited financial statements convey the auditor's view of the feasibility and reliability of financial statements to users of financial statements, which is a useful tool in the decision making process. The purpose of this study was to investigate the behavioral response of individual investors after the publication of annual audited financial statements. The research method was applied in terms of purpose, field survey method and descriptive survey method. Data were analyzed using a standard questionnaire. The statistical population of this research is all real investors of Tehran Stock Exchange, of whom 403 were selected by simple random sampling. Data were analyzed by spss22 and Lisrel 8.50 software using structural equation method. The results of the data analysis show that the release of financial statements (good or bad news) has a significant effect on the behavior of individual investors.

Today, free flow of information is one of the basic characteristics of different markets. Based on this, one of the most important issues in the growth and development of stock markets is the disclosure of information that influences decision makers in this market. On the same basis, there are several regulations on disclosure of information in stock markets. One of the main challenges in the disclosure of information is the scope of information disclosure in such a way that the information is published correctly and at the right time, while the disclosure of information takes place in such a way Making it possible to provide a precise picture of the company's situation. Accordingly, in the present paper, we will examine the comparative scope of the disclosure of information in the initial release of Iranian law and the rights of the United States as one of the foreseeable future in the field of securities, and finally, it will be determined that the regulation in this area is based on the necessity The disclosure of credible information is based on the company's status, since it is based on the confidentiality of information, while exceptions are made for the non-disclosure of corporate secrets and the prevention of harm to companies in emergencies.