Usually doing transactions in the derivative market of a specific mechanism, which requires a sufficient level of knowledge of investors in this field. The same complexities in derivative financial instruments can be effective in stimulating the mental anchor drives of investors. Derivative financial instruments should be considered as a complex issue in the development of financial functions in investment decisions. Therefore, in order to reduce such restrictions in the use of financial derivative instruments, many accounting and financial standards drafting boards such as the Financial Accounting Standards Board "FASB" and the Australian Accounting Standards Board "AASB" respectively FASB 133 statements; They compiled FASB 137 and AASb 1033 with the aim of reducing the complications of using these tools. The purpose of this study is evaluation of investors' mental anchor drivers based on the limitation caused by derivative financial instruments. In terms of results, this research is considered a development because by relying on qualitative evaluation methods, it seeks to create a theoretical framework to determine the causes of the mental anchor drivers of investors and the sub-factors of restrictions on the use of derivative financial instruments. In fact, due to the lack of theoretical coherence regarding concepts and theories related to this field, this research seeks to expand theories and theoretical concepts to create more coherence for future studies. In other words, this research seeks to evaluate the mental anchor drivers of investors in the form of a model based on related researches in this field by establishing the criteria for the limitations of using derivative financial instruments. In terms of the purpose of this research, it is applied and in terms of its nature, it is descriptive/survey. In terms of the type of data, this research is considered a mixed method. In this research, firstly, to examine the related concepts of the research variables, meta-composite analysis method is used to analyze textual data with an inductive approach. Then, in the quantitative part, intuitive fuzzy analysis is used to answer the research questions. In this study, in the qualitative part, based on met synthesis processes, an effort was made to first identify the researches related to the two concepts of investors' mental anchor and derivative financial instruments, and then determine the components and themes of the research based on the critical appraisal scale. Also, in the continuation of the qualitative part, Delphi process was used to determine the limit of theoretical consensus. In the quantitative part, was used with the aim of determining the most effective drivers of the mental anchor of investors, due to the limitation caused by derivative financial instruments in the Tehran Stock Exchange (TSE), Intuitive Fuzzy Sets (IFSs). In this study, 13 of the experts in the (TSE) and at the university level participated in the qualitative part, and 25 of the TSE experts; the financial reporting experts and the issuer supervision department of the Tehran Stock Exchange (TSE) filled out the matrix questionnaires in the quantitative section. The results in the qualitative part indicate the existence of 5 themes of limitations caused by derivative financial instruments and 3 driving components of investors' mental anchor. The results in the quantitative part also showed based on the process of fuzzy Vikor process, the most important parameter of the research themes (limitations of using derivative financial instruments) is the lack of comparability. It was also found that cognitive drivers are the most effective measure of mental anchor in investors' decisions regarding restrictions on the use of derivative financial instruments. The obtained result is an indication of this fact because investors are probably not aware of their perceptual errors in decision-making, they always use the basis of limited rationality to make decisions despite stress and uncertainty situations in decision-making and considering that the criterion of non-comparability as one of the limitations of derivative financial instruments is almost dominant in the Iranian market, this issue makes cognitive drivers play a role in the formation of mental anchors in the decision-making of investors. In fact, comparability as one of the indicators of information quality in the use of these tools can bring benefits such as reducing the cost of information processing, and it is through this mechanism that the level of fair valuations on the assets of companies can increase the integrity in the use of tools. Financial derivatives help. So that by increasing the ability to compare information, the possibility of comparing the similarities and differences between the value of companies is increased and on the other hand, the effort of analysts to understand and analyze financial statements and to better understand the relationship between economic events and company performance is reduced, both of which are an effective factor on The efficiency of the market and the optimal allocation of resources is in the form of expanding the collection of information available to investors and reducing the cost of information, and it provides opportunities to invest in derivative financial instruments.

In economic markets today, in order to reduce risk and flexibility and the ability to attract liquidity, tools called derivative financial instruments are used, which due to their novelty in some legal systems, there are doubts about their nature and legitimacy. This study intends to investigate the gambling nature of the option contract as one of the most important derivative financial instruments in the two legal systems of Iran and the United States with a comparative and descriptive-analytical approach. Examining the features and nature of the option contract on the one hand and the features and characteristics of being a gambler in the Iranian and American legal systems on the other hand indicates that the suspicion that the option contract is gambling is not acceptable. It should also be noted that the risk in the option contract is different from the risk of gambling, as the risk in gambling is artificial and avoidable, while the risk of price changes is a commercial and real risk.

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Financial derivative instruments, which are created by financial experts, play an important role in the world of high finance. To deal with the risk, mainly price risk, these instruments have appeared and begun to change and promote day in, day out. Their importance may appear when it happens to them to be published more than base stock; great sum of money would be transferred by and ends by paying the difference in price, not caring for contents of contract. This research paper tends to have a juridical analyse over these instruments. Explaining these instruments, first their legal nature would be identified and then, juridical judgement would be inferred. Most of the instruments which are created to satisfy the requirements of economic agents can be revised by law. May be, these instruments are misused, but this is incidental, as it may happen about other legitimate instruments like principle of commerce.

One of the financial instruments that plays an important role in investors' decision-making is the derivative financial instrument, which in Iran's capital market has caused the market balance to be disturbed in terms of control and risk due to the existence of integrated usage restrictions for them. In fact, these financial instruments can be used both for commercial purposes and for protection against unpredictable risks in investments. But the existence of restrictions on the use of derivative financial instruments has caused huge losses, which cannot be hidden as a result of the financial scandals of large companies. Therefore, in order to reduce such restrictions in the use of derivative financial instruments, many accounting and financial standards drafting boards such as the American Financial Accounting Standards Board "" and the Australian Accounting Standards Board "" in accordance with  statements; they compiled  and  with the aim of reducing the complications of using these instruments. The purpose of this research is investigating the limitations of using derivative financial instruments in the Iranian capital market. 

This research is mixed in terms of data collection methodology, because the lack of a theoretical framework of the financial instruments limitations has led to the use of these instruments, at least at the level of the Iranian capital market does not have integrity. Therefore, first, through the process of Meta synthesis and Delphi as the basis of analysis in the qualitative part, an attempt was made to determine the dimensions of the limitations of using derivative financial instruments and then its reliability was examined to determine the theoretical consensus. TODIM Fuzzy inference has been used in the quantitative part of the research. Because the purpose of this section was to determine the most important limitation of the integration of the use of derivative financial instruments in the Iranian capital market. In this research, in the qualitative part, 15 accounting experts at the university level and in the quantitative part, 25 capital market experts; Experts in financial reporting and the issuer supervision department of the Stock Exchange Organization participated as the statistical population. 

In this research, based on the fact that the limitations of the integration of the use of derivative financial instruments have not been determined in the form of a coherent theoretical framework in the past researches, therefore, in this research, an attempt was made to determine the desired dimensions. The results of the qualitative research through content screening of 11 studies indicate the selection of 7 dimensions of restrictions on the use of derivative financial instruments, which were confirmed in two rounds of Delphi analysis, the theoretical limit of these dimensions. The results in the quantitative part of the research based on the TODIM Fuzzy Inference matrix and determining the final weight of each research criterion indicate the selection of Lack of Financial Statement Comparability (A2) as the most important constraint on the integrity of the use of derivative financial instruments in the Iranian capital market. 

The result reflects the fact that comparability as one of the indicators of information quality in the use of these tools can have benefits such as reducing the cost of information processing and it is through this mechanism that the level of fair valuations on corporate assets can help increase the integrity of the use of derivative financial instruments. In fact, comparability as one of the indicators of information quality in the use of these tools can bring benefits such as reducing the cost of information processing, and it is through this mechanism that the level of fair valuations on the assets of companies can increase the integrity in the use of tools. Financial derivatives help. So that by increasing the ability to compare information, the possibility of comparing the similarities and differences between the value of companies is increased and on the other hand, the effort of analysts to understand and analyze financial statements and to better understand the relationship between economic events and company performance is reduced, both of which are an effective factor on The efficiency of the market and the optimal allocation of resources is in the form of expanding the collection of information available to investors and reducing the cost of information, and it provides opportunities to invest in derivative financial instruments. While the lack of this capacity in Iran's capital market, due to various reasons such as lack of information transparency or agency cost, has reduced the integrity of the use of this tool at the level of Iran's capital market.

Financial derivative instruments, which are the innovations of finance professionals, play an important role in the booming of financial markets. These instruments which have been created to confront risks become more diverse and evolved day by day. Option contract is one of the most important of these instruments which is more flexible than other derivative instruments and, consequently, it can better cover the risks due to price fluctuations. However, as option contract is a newborn one, a group of lawyers and jurists, especially sunni's jurists, have considered such contracts as very problematic, and hesitated about their validity from different aspects. But the exact understanding of the nature of these contracts removes some doubts about their validity and correctness and confirms their legal and canonical justification. In this paper, we have tried to introduce the option contract completely, mean while to elucidate the ambiguities surrounding this contract and to express the fundamentals of its validity.

One of the most important components of financial systems is derivative financial instruments (option to trade and option to sell). The first role of derivatives is to provide a cheap way to get higher returns and reduce risk. Therefore, the purpose of this study is to investigate the relationship between derivative financial instruments (option trading and subordinate selling options) and stock return synchronicity.

This research is applied in terms of purpose and descriptive in terms of nature and method and correlation studies in terms of relationships between variables. In the present study, a total of 112 companies listed on the Tehran Stock Exchange that have offered derivative financial instruments (option and transaction option) have been examined for a period of 1392 to 1397. In order to test the research hypotheses, the multivariate regression model method - data panel method has been used.

It is shown that the issuance of subordinated stock options and the issuance of stock options at stock return synchronicity

Derivatives are financial instruments that donot represent ownership rights in any asset but, rather,derive their value from the value of some other underlying commodity or other asset. Derivatives are efficient and effective tools for isolating financial risk and hedging to reduce exposure to risk.Use of derivatives in petroleum and natural gas industry has come about with price deregulation and rapid growth of spot markets. Under industry regulation,energy prices were infrequently changed but, stable prices were paid for with shortagesin some areas and surpluses elsewhere. Free markets revealed that petroleum and natural gas prices are among the mostvolatile of all commodities. In recent decades,firms operating in petroleum and natural gas industry use derivatives to reduce price flactuations risk, stabilize cash flow and finance investment plans. In this article, we will introduce various kinds of financial derivatives, price risk management methods with derivatives in the petroleum and natural gas industries and assess prerequisites and requirements for developing derivatives in energy industry.

One of the initiatives of specialists in finance is derivative financial instruments which has a special role in the growth of financial markets. The main objective of developing these tools is confronting the risks that they become more evolved and variant over time. One of the most important tools is the option contract which is more flexible comparing to other derivative tools, so price fluctuation Risks are better covered, but as far as option contracts are of the new ones, a group of jurists and lawyers criticized these contracts and they are not sure about their authenticity. Also, there are two shortcomings in same future contracts that make an option deal. In same future contracts, the price is fixed in the contract and it prevents price change risks, but the two parties do not profit from market changes. The second shortcoming is the inability to use it for managing possible and expediency debts, but in legal discussions, Option deal is not considered as a memorandum or insurance, but they can be corrected legally. In this paper, the theories of Shiite and Sunni scholars are presented with their explanations

Given the important role of financial derivatives in the world economy and experience of the necessity of applying high quality and accepted financial reporting standards especially financial instruments standards, the purpose of this study was to identify information disclosure challenges related to derivative instruments in Iranian reporting environment And within the framework of International Financial Reporting Standards. Method This study identifies and presents the challenges of disclosing derivative securities and hedge accounting information in accordance with IFRS 7 and IFRS 9, using the qualitative content analysis method of analyzing the data obtained from interviews with 4 experts of auditing, accounting and capital markets of Iran.The identified challenges in identifying, measuring and disclosing derivative tools lead to challenging practice requirements. The findings show that the complexity and difficulty of implementing disclosure requirements in practice, along with a lack of incentives to comply with disclosure requirements and lack of transparency in financial reporting, along with the weakness of executive reporting requirements in the Iranian reporting environment, will have negative impact on effectiveness of standard and derivative instruments reporting. resulting in a lack of sufficient, comparable, useful and reliable information in this area.Standard setters and professional accounting and auditing communities should be aware of challenges of accounting and reporting of derivative securities and prepare suitable infrastructures for financial reporting of these securities in Iranian financial reporting environment.