نشریه اقتصاد و بانکداری اسلامی
پیاپی 47 (تابستان 1403)

Contrary to both the banks’ outstanding positions in financing and availability of unhealthy competition environment in the country banking industry in the recent years, little or no research was conducted around effective competition. The core objective of the current research is to design the competition model in banking industry with the means of DEMATEL technique. The data collection was organized through document-based analysis and semi-structured interviews with financial-banking elites. Sampling was in judgmental and snowball version. In order to analyze the data, coding was carried out by the thematic analysis and in order to approve of and screen the data, Fuzzy two stages-approach was employed and in order to assess the cause-and-effect relation among model dimensions, DEMATEL approach was applied. The result depicts economic, political, environmental and social factors as of causes, influence structural, legal, managemental, financial features. Furthermore, environmental factors were the most influential parameters and structural factors were on easy verge of impact. Additionally, legal and environmental components were of higher significance due to the broad interaction with the alternative variables. Additionally, in accordance with the result attained, legal factors were considered as the principal Achille Hills in having effective competition and environmental factors could be considered as the solutions for the legal factors.

The stock market is one of the most important financial markets for investors. For the first time, this research examines the correlation network of volatility in the index stocks of 30 companies as the most powerful companies in terms of liquidity and value in the capital market, in two periods of the bubble and the collapse of the Iranian stock market. In this research, Pearson's correlation test and complex network theory have been used. The investigated period includes the stock market bubble from 5/1/1399 to 5/19/1399 and the period of the collapse of the Iranian stock market from 5/20/1399 to 11/5/1400. During the bubble period of the Iranian stocks market, Shapna stock have the highest volatility correlation in this network, and Hekhshti and Khodro stocks have the lowest volatility correlations. In the period of stock market crash, the network density and clustering coefficient have increased, which shows that the volatility spreads more widely in the network. If the modularity value is low, it is possible for the system to crash in case of a shock to the system. According to the modularity in the correlation network of turbulence, it has decreased in the period of the fall of the Iranian stock market, which indicates the contagion of the shock and the collapse of the system in the network of the fall of the Iranian stock market. Eigenvector Centrality has increased during the period of stock market crash, which means an increase in the ability to transmit volatility in network nodes. Garh Shepna has the power to spread risk during the bubble period of the stock market, and Fem share has the power to spread risk in the stock market network during the collapse of the Iranian stock market. During the bubble period of the stock market, Shepna's stock has a more volatile correlation with other stocks. Fakhuz and Hakhshti stocks have the least correlation of turbulence with other network shares. Femli's share has the highest correlation in the network and Akhabar's stock has the lowest correlation in the turbulence correlation network. Shabandar stock has the highest turbulence correlation in the network. The lowest turbulence correlation in the turbulence correlation network related to stocks is news.

Having an investment portfolio with minimum risk and maximum return is the Pareto optimum that all investors in the financial markets are looking for. Achieving this goal is not possible due to its idealistic nature, and people can only approach this optimal situation. However, the basic principle in the composition of the investment portfolio is to have financial assets with minimal correlation in the portfolio. This is followed to reduce the yield spillover effect among the portfolio assets. This is the reason for this study to investigate the yield spillover between assets such as gold, dollar, euro and major stock market indices such as automotive, banking and chemical group index for the daily period from 2018 August 26 to 2023 March 15, using the ARCH approach. Results of EGARCH(1,2), EGARCH(1,1), GARCH(1,2), GARCH(2,2) and AR(2) models for banking group index, chemical group index, gold, euro and dollar respectively which are based on the selected information criteria, showed that the spillover effect of the studied assets is different from each other.

In traditional accounting systems, intangible assets are not recorded in financial statements, but they play a significant role in determining the market value of organizations. Relational capital is one of the intangible assets, which is defined as the role of the customer in the current and future income of the organization, and expresses the need for a new economic environment and change from a product-based economy to a customer-based economy. Therefore, it is important to identify the factors affecting Relational capital. According to its purpose, the current research is applied and based on the method, it is descriptive-causal. In this research, a 20-question questionnaire was prepared and adjusted to measure Relational capital, and exploratory factor analysis using SPSS software was used to find out the underlying dimensions of the research questionnaire. The research period was 2010 to 2022. Then, after discovering the dimensions of Relational capital, a confirmatory factor analysis was performed using Lisrel software, and finally, using R software and the sampling method of important points, the effect of Relational capital on banks' financial performance was investigated. The results of the factor analysis showed that interest on payment facilities and deposit interest are suitable indicators for the Relational capital factor. In the following, in order to explain the obtained model, the sampling algorithm of important points, which is one of the Bayesian algorithms, has been used. The results of the estimation of important points algorithm showed that the obtained model has considerable explanatory power.

The aim of this article was forming a stochastic dynamic general equilibrium model for Iran's economy in terms of the specific characteristics of the country's economy. After the experimental analysis of the model, the calibration of the model parameters was done; This means that the parameters of the model were tried to be set in such a way that the highest match between the real statistics and the simulations made by the model is achieved. For this purpose, information from previous studies or some special features of statistics were used to calibrate the parameters, and in some cases, the desired parameters were calibrated using the statistics of Iran's economy. In the next step, the presented model was simulated using Diner program. The results provided by the Diner program include a summary of the moments of the simulated variables and the instantaneous reaction functions of these variables equal to the shocks included in the model. In this study, the model was simulated in three different cases. In the first case, the policy reaction functions were not included in the central bank's decision-making, and in the next two cases, the reaction functions were included in the model, according to which the central bank is one of the two scenarios. Inflation control (through monetary base control) and exchange rate control (through intervention in the currency market) are taken as monetary policy. The obtained results indicate a high similarity between the model values and the real statistics values. Then, the behavior of the reaction functions of the variables in response to the exogenous shocks of the model (oil income shock and technology shock) was investigated.

The present study was conducted with the aim of investigating the impact of economic, social and lifestyle factors of citizens on the choice and consumption of Iranian and foreign goods in a quantitative way. The statistical population is all the visitors to the chain stores of Rasht city, which was estimated to be around 10,000 people based on daily estimates. The data of the research was collected through a questionnaire and with a sample size of 370 people using the cluster sampling method. In addition, based on 55 neighborhoods of Rasht city, random sampling of supermarkets was done in 20 neighborhoods and data collection was started in them. According to the findings of the research, the influence of reference groups and the high use of communication media have a positive effect on the willingness to consume foreign goods. Lifestyle is effective in the pattern of product consumption. People who buy from stores are more inclined to consume foreign goods. Based on the results of multiple regression of cultural capital variables, the use of communication media and lifestyle explain 29% of the changes in the consumption pattern.

The current research has been done with the aim of providing a suitable model of financing the shoe and leather industries using fuzzy linear programming, and three hypotheses have been proposed to achieve the above goal. The current research is applied and descriptive research and the statistical population of the research includes shoe and leather industries of East Azarbayjan province, which was determined as a statistical sample of 97 people using Morgan's table. The data needed for the research was collected by using a researcher-made questionnaire to identify financing methods whose validity and reliability were measured and confirmed, and it was also used to model fuzzy linear planning through the documents of the companies. According to the research results of the shoe and leather industries of the province, 11.4% of the necessary resources should be provided through commercial creditors, 21.3% through working capital financing, 40.5% through long-term loans and 8% through long-term loans. Through other short-term loans from financial institutions and banks, provide 9.4 percent through finance (foreign facilities) and 4.4 percent through Uzans (foreign facilities). The rest of the existing facilities remain unused and also the optimal solution of linear programming is different from fuzzy linear programming.

Due to its strategic importance and rich resources, the Caucasus region has always been considered as a unique geopolitical unit in the world. In general, the sensitivity of the region as the focus of international attention has always been the focus of foreign powers throughout history, so that this greedy attention, along with problems in the structure of various ethnicities, has caused a kind of tension in the region. And there is instability. This study has tried to address the issue of divergence in the perspective of relations between these countries with a comprehensive and complete approach. The question that arises in this study is that based on what approaches and models can the relations between the countries of the South Caucasus region be analyzed and evaluated? In other words, which of them can be a good theoretical basis for analyzing regional relations? In answer to the above questions, it can be said that each of the theories can analyze the situation in the South Caucasus region, but using the integrated model of regional subsystem theory, convergence. Regional regions and better regional order can analyze the present complex relations and equations. Therefore, the main issue of the present study is the analysis of relations between the countries of the South Caucasus region based on an integrated model, according to which, it seems, the future perspective of the situation in this region leads to a kind of divergence. The research method of this research is analytical-descriptive studies and based on collecting library information, reviewing documents and analyzing them and is of qualitative type.

Today, smuggling of goods is one of the basic economic problems in all countries of the world, especially in developing countries. In the meantime, due to its special geographical location and due to the fact that it has always been the bridge of trade between different countries, Iran has always seen an increasing growth of smuggling. Based on this, many policymakers are always looking for solutions to deal with smuggling. On the other hand, income is one of the main causes of development, and its low level can lead to many problems, such as increasing crime, deterioration of health, and so on. One of the economic crimes that low income can increase is smuggling. Because if people cannot earn enough income through legal ways, they are more likely to turn to illegal ways such as smuggling. Therefore, the aim of this study was to investigate the effect of income, among other factors, on smuggling of goods in Iran during the period of 1375-1401 by using Bayesian Model Averaging (BMA) and Ordinary Least Squares (OLS) methods. The results indicate that income has a negative and significant relationship with smuggling. In addition, trade openness and added value of industrial sector also have a negative and significant relationship with smuggling. In contrast, the variables of difference between official and unofficial exchange rates, taxes, government size, tourism, mortality and communication have a positive and significant relationship with goods smuggling in Iran.

With the continuous changes and transformations of the business environment, companies can be successful that can adapt themselves to the continuous changes and transformations of the environment and gain competitive advantage and market share by benefiting from the opportunities. Therefore, being present beyond local borders and operating in international markets is the basis for the growth of businesses. In this regard, this research was conducted with the aim of identifying the drivers of internationalization: the need to recognize the internal capabilities of industrial machinery companies. The current research is from the point of view of the goal of developmental and applied and from the point of view of the qualitative method. Data analysis was done by thematic analysis method. To identify the internal factors of businesses for their internationalization, a semi-structured interview with experts and business managers in the field of machinery production in the construction products industry was used to collect data and the interview continued until theoretical saturation. The statistical sample selection method was purposive sampling and 22 interviews were conducted in this regard. Also, in order to validate, two strategies of external review and pluralism were used. Coding and creation of meanings and themes were used to extract concepts and categories. Based on the results obtained regarding the internationalization of industrial machinery companies, seven main themes including technical capacities, financial capacities of the company, the ability of managers, the company's human resources, the definition of the company's structure, knowledge management and the motivation to be present in the market and fifty sub-themes of extraction became. According to the results, internationalization requires drivers, each of which can be a factor to move towards international markets.

The purpose of this research is to identify the factors affecting the professional skepticism of auditors in different dimensions using the Delphi technique. In order to carry out this research, which can be placed in the category of applied-developmental research in terms of its purpose and in the category of qualitative research in terms of the method of data collection, we used the participation of 10 experts. We considered the members of the certified public accountants community as audit experts and selected the sample using the snowball method. The results showed that auditor's weak sociability, communication skills, weakness in social responsibility, the level of rule of law in society, the institutionalization of the culture of accountability are among the social-cultural factors affecting the professional skepticism of auditors. Also, the auditor's professional skepticism is influenced by economic factors such as competition in the audit market, the financial transparency of the client's system, the amount of economic corruption in the society and the amount of tax evasion tendency in the country. The economic structure of the country (government, free, etc.) , political stability of the country, legal loopholes, and the existence of powerful stakeholders can also be considered as political factors affecting the professional skepticism of auditors. In addition, the results indicate the impact of the auditor's psychological characteristics on his professional skepticism, which is the effect of the characteristics of the lack of skill and quantum insight, the auditor's conservatism, the auditor's behavioral entropy, the weakness in managing individual knowledge, the auditor's behavioral biases, and the weakness in self-management in this The research was approved by experts.

Developing organizational citizenship behavior for sustainability in the banking system is of great importance because this area requires responsible management and sensitive information. The aim of this research is to present a model for developing sustainable organizational citizenship behavior in the banking system. To achieve this goal, through exploratory interviews and surveys with 19 managers in the banking system using purposive sampling, theoretical saturation was reached. The data obtained were analyzed using content analysis and a paradigm model was developed using Maxqda20 software. The research findings indicate various causal factors (green leadership and management, organizational structure, organizational policies, and green vision), core phenomena (economic, social, environmental, and cultural), strategies (employee motivation, training and green culture, and communication), intervening factors (leadership role, organizational culture, and reward system), backgrounds (organizational cultural infrastructure, development infrastructure, moral infrastructure, and structural infrastructure), and outcomes (organizational performance, economic efficiency, improvement and development of green organizational culture, and enhancement of green social and environmental sustainability). The research model was designed and validated at the dimension and component levels in the qualitative phase. The results show that designing a model for sustainable organizational citizenship behavior in the banking system can help improve individuals' consumption decisions and reduce negative impacts on the environment and societies. This model can contribute to enhancing ethical consumption and sustainable development in the banking system, as well as promoting ethical principles in decision-making, ultimately leading to a positive impact on the banking system.

Ethical leadership is one of the most effective leadership styles recognized in organizations as a successful approach to performance management. Examining the process of ethical leadership at different levels in order to enhance performance management in Bank Melli Iran can lead to significant improvements in employee and organizational performance. The aim of this research is to investigate the process of ethical leadership at different levels in relation to performance management in Bank Melli Iran. The research method used is a mixed (qualitative-quantitative) method, where theoretical sampling was used in the qualitative stage and reached theoretical saturation. The obtained indicators from non-probability random sampling method were analyzed using Maxqda20 and Spss26 software. The findings of the research indicate the influence of seven dimensions: internal factors, leadership characteristics, performance management, structure, experience and training, innovation, and strategies in Bank Melli Iran. These factors demonstrate the effectiveness of developing ethical leadership at individual and organizational levels in Bank Melli Iran, and each factor has been confirmed with a 95% confidence level.

Governments in Iran usually impose numerous tasks on the country's banking system based on the tasks contained in the budget laws. This paper examines the impact of budgetary allocations on the resources and expenditures of the Iranian banking system. For this purpose, the information of the National Bank as a selected bank in 2015-2015 was studied using the method of qualitative content analysis of budget laws and balance sheet analysis. The study of the assigments made by the selected bank and their comparison with the total amount of deposits shows that the average ratio of bank assignments to deposits is about 47% and the average ratio of credit facilities to deposits is about 34%. It is known that the selected bank can consider only about 66% of its deposits regardless of the budget. If the balance of partnership borrowings is also taken into account, the bank's deposit funds ratio (total deposits minus allocations) averages about 53% of deposits, which is a very unfavorable figure. The results of the current investigation also show that in the years studied, the total cost of each rial paid for various budgetary tasks was a significant amount, the continuation of which can lead to cumulative losses for banks.

Shadow banking includes a set of non-banking financial intermediaries such as investment funds, companies and monetary and financial institutions that actually have banking functions, but are not under the supervision of the bankig system.This study aimes to invstigates to evaluate the effect of shadow banking on banking risk in Iran. In addition, the effect of capital structure on the relationship between shadow banking and banking risk is also investigated. The analysis level of the research is a sample of Iranian banks during 2013 to 2019. The data analysis is based on the Panel Data econometric model with the Feasible Generalized Least Squares method. Results show that shadow banking in both public and private banks leads to an increase in risk, and change in capital structure in favor of bank assets that neutralizes part of the increase by shadow banking activities. Also, asset quality and capital adequacy in both public and private banks significantly reduce risk. Regarding liquidity, it can be seen that it has a negative and significant effect on risk in public banks, but its effect on risk in private banks is not significant. Concerning bank size, it can be seen that it significantly reduces risk in public banks, while it has no significant effect on risk in private banks.

The Iranian banking system is engaged in a complex network of relationships with various stakeholders, who either influence or are influenced by the system. Each stakeholder group has its own set of desires and expectations, pursued based on their capabilities, sometimes in conflict with the interests of other stakeholders. It is evident that satisfying all these stakeholder demands is not feasible for the banking system; thus, the identification and prioritization of these stakeholders is of paramount importance.In this study, stakeholders were identified through content analysis of sustainability reports from both conventional and Islamic banks, supplemented by interviews. The significance of each identified criterion was then examined and ranked using a combination of the Best-Worst and Fuzzy ARAS methods. This research scrutinized stakeholders at both a broad and detailed level. Ultimately, stakeholders were ranked using the Fuzzy ARAS method, and the identification and ranking criteria were enumerated using content analysis. Among these criteria, power, benefits, urgency, impact intensity, and potential were deemed most important. Among the stakeholders, the government, central bank, and major shareholders were ranked highest, highlighting the significant role of governance in the banking system. In contrast, retail customers and depositors, despite their special status in Islamic banking, have not received adequate attention.

The main purpose of this research is to investigate the effects of compound risk shocks and its components (political, economic and financial risk) along with economic complexity on the development of Sukuk market in Iran. The data required to conduct this research is based on the variables of the proposed model related to the time period of 2010-2022 and seasonally, using the Central Asset Management Company of the Iranian Capital Market, the International Country Risk Guide Database (ICRG) and the MIT University website. has been The results of model estimation using the Wald test and Nonlinear Autoregressive Distributed Lag Model Approach (NARDL) indicate that the unexpected positive and negative shocks of the compound risk and its components have asymmetric effects on the development of the sukuk market. Among the components of composite risk, the negative shock of political risk has the most negative effect and the positive shock of financial and economic risk has the most positive effect on the development of the Iranian sukuk market in the long term. Also, the effect of economic complexity on the development of the sukuk market in the long term is positive in every equation proposed in this research

The study of human societies throughout history indicates that significant changes in societies are not random but occur under specific rules, which can lead towards either progress or decline. Understanding these rules helps in predicting future developments. Experience shows that societies generally move towards progress, although they may also undergo periods of decline. Development requires sustained and consistent structural and non-structural changes. Countries with stable economic growth and compatible structural changes can achieve development. Institutional conditions such as good governance, a strong private sector, a conducive business environment, and an effective social security system are essential for development. Iran is far from meeting these conditions and requires greater efforts to achieve development. This summary emphasizes the importance of accurately understanding the rules of social change and effectively utilizing them.