نشریه توسعه و سرمایه
سال دوم شماره 1 (پیاپی 3، بهار و تابستان 1388)

Developing of capital markets causes creation and extension of financial service firms and one of the services that these firms offer is securities and firms ranking. In this study, Tehran Stock Exchange (TSE) variables in firm ranking (Top 50 firms announcements) are compared with some different financial and none financial performance evaluation criteria. The main purpose of the research is to determine that if a firm which has a high rank according to TSE announcement, has a high position according to the financial and none financial standards or not. The results of hypothesis testing and correlation analysis show that there is a weak correlation between firms ranking based of TSE charts and firm ranking based of considerable variables in this research and these correlations often is insignificant. This refers that TSE ranking is not parallel with firm ranking based on the research considerable variables.

If a classic government has been the most ideal states with economists about 150 years ago today the most ideal government from the economists viewpoint is the government of welfare and it is due to specifying the market weaknesses more and more setting forth the market failure in a new sector such as distributing the income and social security, government is that a state has the responsibility of security the welfare of it is subjects. Methodology of this study is descriptive method and based on the cause and effect method tried to study the role of state budget composition on the social welfare.In order to perform the aforesaid matter to analysis the effect of state budget composition on the social welfare the economic evaluation models have been used for Iran economics during the years 1981-2003. The most important results obtained indicate that the state well-proportioned expenditures have had a positive effect on the social welfare. But the attractive point is the composition of state well-proportioned expenditures including the education and health expenditures from which that of education is the heaviest and that of the health stand as the next priorities. The state oil incomes have positive effect for the social welfare. The coefficient state military force expenses bear a positive mark for the social welfare. But since the statistic coefficient of state military expenditures is not meaningful, it seems that the aforesaid expenses have not any effect on the social welfare.

In the last decade, there is has been a substantial degree of research interest in the changing function of management accounting and role of management accountants in commercial enterprises, indicating that management accounting may have lost some relevance to management and other information users. The purpose of this paper is to present viewpoints of academia and practitioners about the future of management accounting and management accountants. In this study, are determined skills required by management accountants, the roles and responsibilities which they probably will take, from viewpoints of academia and practitioners in profession? This study also presents a general approach of the future of management accounting from viewpoints of both populations Academia and Professional Managers. This study is an applied-survey research and it has been done by sending questionnaire to academia and practitioner in profession populations, and then analyzing results. The results suggest significant difference between the viewpoints of academia and professional managers about skills required by management accountants in future and also suggest the lack of significant difference between these two viewpoints in relation to the roles and coming responsibilities of management accountants and the future of management accounting.

Although reported earnings of companies is considered the most important factor for decision- making in capital market; however, things such as assessments, varied accounting methods,smooting of income and earning management in making process threatens its informative role as an important basis for decision- making in capital market. Since varied criteria for measuring earning quality are presented and employed, this research is trying to find and propose a unified set of criteria for proper quantity measurement as well as identifying its relationship with the stock return of the companies accepted in Tehran Stock Exchange. Since there is no single method of measuring earning quality accepted by all researchers, the researcher has studied fifteen current researches to attain a comprehensive index. According to the evaluation indices used in the above mentioned researches, ten common criteria which were accepted to the majority of researchers (according to the highest number of occurrences, and also the possibility of studying them in Tehran Stock Exchange) were selected. Research hypothesis concerning a significant relationship between earning quality (independent variable) and stock return was examined at three levels of High, Medium, and Low profit quality. Thorough review of the research hypotheses through regression analysis of the data of the period 2001-2006 revealed that there is a significant relationship between stock return and earning quality in high, medium, and low levels. It is concluded therefore that investors are attentive to earning quality and changes in stock prices and as the result the stock return are both influenced by the earning quality criterion. The relationship observed is a linear relationship.

This paper studies the factors effective on equity stock selection in capital market on the basis of Fuzzy AHP technique. After studies of the literature of survey, nine factors have been identified. These factors include: "liquidity of stocks in the market", "free float of equity stock", "stockholders mixture, "earning per share" "P/E ratio", "Net Asset Value"," category of industry"," disseminating of transparent information and continued informations "and "Market Trend". The Problem of decision-making is structured in three different levels and analysis process is made with expert choice software. This paper findings show that, the first five factors from the point of view of stockholders are as follow: 1) " liquidity of stocks in the market ", 2)"free float", 3)"stockholders mixture", 4)"P/E ratio" and 5)"earning per share". Finally, we have tried to give some suggestions based on above conclusions are presented.

Nutrition and food consumption are of high importance in family budgeting. It’s high share in rural households’ budgetes adds to the importance of estimation of Food demand function for rural households. Economists and politicians are interested in analyzing the allocation of income to goods and services, therefore, estimation of demand for goods and services, to find future needs and preferences, is of great importance. In this paper, using Almost Ideal Demand System (AIDS), and Seemingly Unrelated Regression System(SUR), rural households’food demand function has been estimated. According to the results of the model in most cases rural consumers are entangled in some money illusion, but their tastes have not changed. Price elasticity for bread, rice and grain category is the least, while this elasticity for dairy products and egg category is the most. Furthermore, among different food categories, bread, rice and grain category is considered luxery while dairy products and egg category is considered necessity. Bread, rice and grain category is subsititute for dairy products and egg category, but it is compliment for red and white meat. Red and white meats are substitute for dairy products and egg category.

"Return acquisition" is the main objective of investment. Investors need suitable criterions to recognize the return on their investment. There are many efforts take in introducing these suitable criterions. Profit and its derivatives are some of the suitable criterions used to predicate capital return. This paper introduces "capital productivity" as a new criterion where Capital productivity is defined as the added value divided by invested assets. Invested assets may be circulating capital, long-term operative assets, or total assets. Therefore, there are three different models to measuring capital productivity. In this paper, our attempt is to expose the higher informative content of capital productivity relative to profit and its derivatives. To do this, we compared profit (earning per share and price-earning ratio) and return relationship with capital productivity (all models) and return relationship. Also we compared relationships between different models of measurement and return. Results show that there are significant relationships between all models of capital productivity and return. The correlation between capital productivity -if total asset is used as the denominator- and return is more than earning per share and P/E. however there is no significant deference between correlations of different measuring models of capital productivity with return.