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کاربرد نوع شرط:
- جایگاه : پژوهشی
- مجله: International Journal of Finance and Managerial Accounting
- نوع مقاله: Journal Article
- کلمات کلیدی: Information Ambiguity-Aversion,Earnings Announcement Premium,Investors’ Response Asymmetry
- چکیده:
- چکیده انگلیسی: In today's investment world there is emphasis on the role of accounting information. Behavioral factors always play an important role in financial markets. All investors are not rational and their demand for riskiness of assets is influenced by their beliefs and feelings. Optimism, pessimism, self-confidence, ambiguity-aversion, etc. help changing the manner of decision-making process over time. So, this study aimed at investigating the role of accounting information on investors’ ambiguity-aversion in economic environment of Iran. For this purpose, information about 120 companies listed in Tehran Stock Exchange during the period 2013 to 2017 was collected and analyzed. Multivariate regression models were used to analyze the data. The results show that earnings announcement premium for companies with high level of ambiguity, is more than for companies with low level of ambiguity. As a result, investors respond asymmetrically to good and bad news, and this asymmetry decreases with increasing of ambiguity level.
- انتشار مقاله: 03-07-1398
- نویسندگان: Zeynab Ramzi Rad Choobeh,Javad Rezazadeh,Hossein Kazemi
- مشاهده
- جایگاه : پژوهشی
- مجله: Environmental Energy and Economic Research
- نوع مقاله: Journal Article
- کلمات کلیدی: Resilience,Data envelopment analysis,Environmental and economic crisis,Iranian companies
- چکیده:
- چکیده انگلیسی: Companies are faced with serious challenges in environmental and economic crisis. It may become a threat to their financial performance and viability. Thus, there is an urgent need for being resilient in the event of any disruption. The present study aims to assess the performance of companies listed in Tehran Stock Exchange in terms of resilience factors. A standardized questionnaire containing resilience factors is designed to collect data from managers and staff. The effect of resilience factors on performance in the crisis period is examined by data envelopment analysis (DEA) method. It is observed that performance is greatly affected by management commitment, awareness, self-organization, and competitiveness and an improvement in them enables the companies to be more resilient during environmental and economic crisis period. An integrated approach to the performance optimization of companies is first developed. It may be a useful framework for any type of company to identify the most important resilience factors in economic crisis.
- انتشار مقاله: 21-08-1398
- نویسندگان: Ameneh Bakeri,Javad Rezazadeh,Hamid Haghighat,Gholamreza Kordestani
- مشاهده
- جایگاه : پژوهشی
- مجله: Environmental Energy and Economic Research
- نوع مقاله: Journal Article
- کلمات کلیدی: Balanced Scorecard,Organizational Structure,Performance Measurement systems (PMSs),Stages Of Performance Measurement System Development
- چکیده:
- چکیده انگلیسی: Organizational structure determines the scope of decisions, tasks, responsibilities, goals, perspectives and rewards for achieving results. In recent decades, due to environmental changes and dramatic technological advances, organizational structure has changed from Mechanistic to organic. The purpose of the restructuring is to facilitate the achievement of the organization's goals. Changing structure is effective on the company's performance measurement system. The main purpose of this research is analyzing the role different types of organizational structures in designing of the performance measurement system of companies listed in Tehran Stock Exchange. The survey was carried out through a survey and distribution of 170 questionnaires, 127 of which were obtained. In Iran's economic environment, organic companies with low organizational stages, high stage of decentralization, low formal rules, wide control and horizontal communications, Emphasize the use of balanced performance measurements. The performance measurement system has also been defined as cause-and-effect or fully-developed in organic structures.
- انتشار مقاله: 29-09-1397
- نویسندگان: Samaneh Agha Kazem Shirazi,Javad Rezazadeh,Gholamreza Kordestani
- مشاهده
- جایگاه : پژوهشی
- مجله: Advances in Mathematical Finance and Application
- نوع مقاله: Journal Article
- کلمات کلیدی: ambiguity,Risk,asset pricing
- چکیده:
- چکیده انگلیسی: Modern portfolio theory is based on the relationship between risk and return and in this paper, specific uncertainty conditions are introduced as ambiguity which affects the asset pricing. Also, the relationship between risk, ambiguity and return is examined. First, ambiguity is estimated by the means of three-variable and main component method, trading volume, ask-bid spread, error of earnings forecast and afterwards, it has been used to examine the interaction between risk, ambiguity and return. Current research method is correlative descriptive and statistical sample consisted of 120 corporates accepted in Tehran Stock Exchange during 2012-2017. To test the hypotheses, regression analysis has been utilized. Results revealed the existence of ambiguity in Tehran Stock Exchange, which affects the asset pricing negatively
- انتشار مقاله: 29-08-1397
- نویسندگان: Zeynab Ramzi Radchobeh,Javad Rezazadeh,Hossein Kazemi
- مشاهده