Papers by Euro-Asian Journal of Economics and Finance 23090184
The importance of ethics by individuals and employees of certain organizations that have more cli... more The importance of ethics by individuals and employees of certain organizations that have more clients than any other organization are not hidden from anyone. Among the factors causing abnormalities in employee behavior that is common it refer to the collapse of moral standards in the organization. In this research, we will attempt to identify the factors influencing ethical behavior in a study, a library, a ranking model for these factors in the target population (the insurer Iran Chahar Mahal and Bakhtiari) and due to the dependence of factors is used to identify the analytic network process between agents and measuring their dependence may develop evaluation models. The study has been identified as the lowest and highest impact factors of culture factors on ethical behavior of employees. In the end, it's necessary to pay special attention to the factors that have the highest ranking in terms of human resources planning and management.
The continuity of a firm can be determined by it،s performance in finally, because the financial ... more The continuity of a firm can be determined by it،s performance in finally, because the financial performance of firm has impact on decision making in capital market. So, the study about this field can be useful in economic decisions. This research examine the relationship between conservatism in preparation financial information whit economic and financial proxies in performance assessment of 80 listed firms on Tehran Stock Exchange during fourteen years (1998)(1999)(2000)(2001)(2002)(2003)(2004)(2005)(2006)(2007)(2008)(2009)(2010)(2011). According to performance assessment measures) , the rate of return on assets and rate of return on equity as financial measures and Tobin ،Q ratio and market value added as economic measures of performance assessment is used as independent variable. The model of Khan and Watts (2010) was used to assess post-event or conditional conservatism. Regression analysis based on combined data was used to test hypotheses. Our findings show there is a negative significantly relationship between accrual conservatism and economic and financial measures of performance.
Banks are most probably the most important type of financial institutions in Bangladesh. Although... more Banks are most probably the most important type of financial institutions in Bangladesh. Although there are two fully operating stock exchanges in Bangladesh still the majority portion of demand for financial services are addressed by commercial banks. Banks traditionally, contributes the economy through intermediation. Though intermediation is the most important task of commercial banks, in recent years in some developed countries it experienced a declining trend. In this paper, we tried get an overview of different trends of commercial banks in Bangladesh. We also looked into the dynamic relationship between banks and Non-bank Financial Institutions (NBFIs). We have found that different reform projects carried through last two decades have a beneficial effect on banking. We also found that NBFIs, although still relatively less significant compared to banks are growing and they are taking away shares from banks in both loan and deposit market. The paper, however, has not taken into consideration the effect of thrifts, which operate among less privileged section of the economy.
This study is descriptive in nature and correlation was carried out to investigate the effect of ... more This study is descriptive in nature and correlation was carried out to investigate the effect of rearing elite on the efficiency of the administrative system of elite viewpoint of managers of the National Bank of Kermanshah. The population of this research consisted of 220 managers of National Bank branches in Kermanshah Province among them, 140 people who were selected using stratified random sampling formulas with bound to proportionate manner with the sample. Tool for data collection is a questionnaire consisting of two efficient organizations and rearing elite. Internal consistency of the questionnaire was calculated using Cronbach's alpha. Data were analyzed using descriptive statistics and inferential statistics at two levels.
This study is descriptive in nature and correlation was carried out to investigate the effect of ... more This study is descriptive in nature and correlation was carried out to investigate the effect of rearing elite on the efficiency of the administrative system of elite viewpoint of managers of the National Bank of Kermanshah. The population of this research consisted of 220 managers of National Bank branches in Kermanshah Province among them, 140 people who were selected using stratified random sampling formulas with bound to proportionate manner with the sample. Tool for data collection is a questionnaire consisting of two efficient organizations and rearing elite. Internal consistency of the questionnaire was calculated using Cronbach's alpha. Data were analyzed using descriptive statistics and inferential statistics at two levels.
The main objective of this study was to measure the impact of DGP growth rate on poverty of Pakis... more The main objective of this study was to measure the impact of DGP growth rate on poverty of Pakistan. Secondary data pertaining from 1980 to 2012 were collected from Economic surveys of Pakistan, ministry of finance, Federal Bureau of Statistics and planning commission of Pakistan. Growth Elasticity of Poverty tool was used to estimate the impact. Head Count Index/Ratio declines and Povcal Net were used to measure poverty and degree of absolute poverty respectively. The results revealed that the GDP growth elasticity in terms of poverty was to the current poverty level in Pakistan. Again, rising unemployment lacks of opportunities for the highly less elastic i.e. a major change in GDP growth rate puts minor change in poverty. Policy failure of the government, poverty eradication policy, Global recession found the main factors contributing underprivileged class have created an alarming situation in the country.
Conservatism is the cautious response of accountants to the uncertain and unknown conditions, for... more Conservatism is the cautious response of accountants to the uncertain and unknown conditions, for timely and reliable information and also to respond to legal and environmental accountability. Conservative tries to minimize estimations risk in calculation of profit and it leads to increase the profit quality. The return on investment (ROI) ratio is one of the financial ratios that is used to measure the company's performance and it is considered as a criterion for measuring the created value for shareholders. Accordingly, the degree of conservatism can have a significant impact on this ratio. This study tried to examine the relationship between conservatism and return on investments ratios. And Basu model (1997) is used for measuring the conservatism. It also examined the relationship between conservatism of accruals and conservatism of operational cash with return on investment ratio by using the correlations tests. The findings of this research indicated an inverse relation between conservatism of net income and accruals with return on the investment. Also, the relation between operational cash and changes in ROI is not statistically significant.
weak-form efficiency hypothesis. The combined ARFIMA-fractionally integrated asymmetric power aut... more weak-form efficiency hypothesis. The combined ARFIMA-fractionally integrated asymmetric power autoregressive conditional heteroskedasticity (ARFIMA-FIAPARCH) models did not confirm the initial findings due to insignificant results. However, the gamma ( ) parameter of the ARFIMA-FIAPARCH models showed the presence of volatility asymmetry in the AMJ ETN, which means that negative shocks have relatively more impact than positive shocks on its volatility.
This study examines the changes in household consumption expenditure pattern for Pakistan over th... more This study examines the changes in household consumption expenditure pattern for Pakistan over the period 1997-2009, using data on household consumption expenditure from Household Integrated Economic Surveys (HIES) and Pakistan social and Living Standard Measurement (PSLM). This is a quantitative study concerning how household expenditure on different commodities changes when there are changes in income of household. Both total expenditure and income are used alternatively as explanatory variables. Also the formula for forecasting future consumption is used to find the future consumption for the next years. The method for used for estimating regression equation is Ordinary Least Square (OLS). Total expenditure elasticities are estimated by using double-log function type. Results show that consumption expenditure of all major consumption expenditure commodities has significant relationship with income.
The main purpose of this study is to ascertain the amount of current technique in the decision ma... more The main purpose of this study is to ascertain the amount of current technique in the decision making of a capital budget in the Islamic banking sector, Pakistan, which include real options, and make the result perfect. In Pakistan, a survey of the largest 5 banks and their branches in Faisalabad through email and questionnaires was conducted. Sophisticated techniques tendency have been continued; however, DCF not used by 17% large banks. Among those which did, most of them prefer IRR and NPV. Most of the banks from a selected sample that used DCF were not so effective at it and also ignore real options. Only 8% banks use real options. First limitation is, survey doesn't show why managers are continually using those capital budgeting techniques for decision making, which are less developed. Second research is conducted in Pakistan using a small and convenient sample size of Islamic banks located in Faisalabad. The basic area where management focuses more is a real option. Other improvement areas are administrative procedures using WACC, adjustment of weighted average cost of capital in different projects/divisions, employment of market values or target for weights and excluding interest expenses from the cash flow of the project .The minimum number of managers feels that there is a need that DCF start using. It is clear from the evaluation that theory practice gap still remains in real options, and in the decisions technique of DCF capital budgeting. Moreover, it is precious to capture stock of views that has been improved in many years. What this study suggests is a fine-grained analysis of decisions making on investment, a composition and completion of different papers on DCF where novel illustrations are made, advice was given to managers to improve the opportunities of investment by making good decisions.
According to agency theory, Managers as representatives of shareholders, may act or make decision... more According to agency theory, Managers as representatives of shareholders, may act or make decision in a way which is not necessarily to maximize shareholder wealth. According to this theory, some sufficient control or oversight mechanisms should be developed to protect shareholders against conflicts of interest. Transparency of financial statements and the quality of the disclosed information provided in them has been considered as a practical approach. Poor financial disclosure misleads shareholders and may adversely affect its fortunes. The aim of this study is to evaluate the effects of disclosure on stock liquidity in the accepted Companies in Tehran Stock Exchange. Four hypotheses were formulated for this purpose and 80 companies in Tehran Stock Exchange during the years 1385 to 1387 were examined. The results show that there is a significant relationship between the quality of companies' disclosure and their trading volume while there is no relationship among others variable of the quality of disclosure.
In a perfectly competitive market we simply assume that full knowledgeable sellers and buyers hav... more In a perfectly competitive market we simply assume that full knowledgeable sellers and buyers have full information about the market condition and the information is free and costless. The firm is a price taker and has an infinitely elastic demand curve. But this is not generally happened in information asymmetry ad adverse section may occur. Equilibrium does not necessarily depict a single price rather it is characterized by a distribution set of price. Here the potential buyers and sellers are not price takers rather price setters. Multiple price equilibrium are quite similar to it but they differ only due to asymmetric information. Thus, in a buyers' equilibrium no seller will be benefited for announcing his own price. But in a seller's equilibrium (when all sellers have distinct price) some buyers may be benefitted by announcing their price. This is because the presence of adverse selection may induce a bias towards the market adopting a convention in which the buyers act as price setters.
Problem statement: In modern age, the service quality and sensitivity towards better qualified se... more Problem statement: In modern age, the service quality and sensitivity towards better qualified service are among the priorities of the global community. Quality is defined as the customer's desire and the customer's perceptions and expectations constitute the key factor determining quality. The issue of quality is particularly important in healthcare service. Nowadays, alongside the human, financial and economic capitals, a new form of capital entitled social capital is being utilized. Social capital may influence the service quality. Facilitating science and improving team work and organizational commitment would probably translate into better quality of products and social capital encompasses all these issues. Approach: This is a cross-sectional, descriptive-analytic study conducted in educational hospitals of Tabriz, Iran in 2010. The target community consists of workers working in educational hospitals of Tabriz and patients referring to these hospitals. A total of 320 workers and 320 patients were selected for the study. Our data collection tool consisted of two questionnaires which were distributed among the participants after their validity and reliability were established. Once the questionnaires were completed, the statistical coefficients relating to the types of variables (t-test, Pearson correlation coefficient and analysis of variance) were calculated and analyzed using SPSS software version 16. Results: Our findings indicate that there is a significant, positive relationship between organizational social capital and the service quality from the patients' point of view, with the correlation between the two variables on a strong level (r = 0.6, p<0.001). Regression analysis results indicate that the five dimensions of social capital account for 0.88% of the variance in service quality equation and the variable relationship among workers in social networks is the most influential factor on service quality in the study population; this factor accounts for 0.59% of the variation in service quality. Conclusion: The existence of a significant relationship between the dimensions of social capital and service quality highlights the importance of social capital of workers in the organization.
Volume 4, Issue 1 by Euro-Asian Journal of Economics and Finance 23090184
With the beginning of the third millennium, the economic crisis is more pronounced and the role o... more With the beginning of the third millennium, the economic crisis is more pronounced and the role of human resources human resources management in organizations that are faced with several challenges including globalization can be named. The era of globalization that we are now a lot of impact on the Organization and its relationships with and achieve the purposes of the Organization must be human resources management is also considering changes to the current community with new and modified methods with respect to human resources management and the role of its communications operations. This phenomenon challenges and conflicts, and can cause a massive transformation in the field of human resources management. In this article while not familiar with the concepts of globalization and human resource management challenges that their human resources and managers as well as human resources managers faced investigation and capacity building in this area.
This paper examines the well-known stylized facts of stock returns volatiliy in the Dhaka Stock E... more This paper examines the well-known stylized facts of stock returns volatiliy in the Dhaka Stock Exchange (DSE) utilizing daily all share price index return data for the period of 02 January 1993 to 27 January 2013. In addition, the study explores the adequate volatiliy model for DSE. The results of the estimated MA(1)-GARCH(1,1) model reveal that the stock returns of DSE capture volatility clustering and the volatility is moderately persistent. The estimated MA(1)-EGARCH(1,1) model displays that the effect of bad news on stock market volatility is greater than the effect induced by good news. Hence, it is concluded that return series of DSE shows evidence of three common stylized facts namely, volatility clustering, leptokurtosis and the leverage effect. In the end, this study discovers that MA(1)-GARCH(1,1) is the best model for modeling volatility of DSE stock returns in Bangladesh.
Water is a priceless gift of nature and is crucial for the survival of lives on earth but remaine... more Water is a priceless gift of nature and is crucial for the survival of lives on earth but remained extremely undervalued and misused one and this misuse have made millions of people, their economic activities and livelihoods vulnerable. Most of the water vulnerable developing countries are also found to be vulnerable to global warming-led climate change which would bar their economic progress. It is thus very important to understand, assess and evaluate their water resource availability, capacity in using them properly and level of threats in the form of water pollution, etc. Water Poverty Index would be an improved water management strategy for their economies to face against the climatic wrath in the years to come. It is mainly designed to improve the situation for people facing poor water endowments and poor adaptive capacity. It acts as a tool for monitoring progress in the water sector. It provides a plausibly simple process to combine biophysical, social, economic and environmental data to produce a single index value. This paper tries to identify the connection between climate change and its effects on water management system in Bangladesh.
Volume 4, Issue 2 by Euro-Asian Journal of Economics and Finance 23090184
Forecasting stock market trends is very vital for investors to take action for the next period fo... more Forecasting stock market trends is very vital for investors to take action for the next period for sustainable competition. It is especially important for policy makers to predict actions for development. KSA stock market is evolving rapidly. Due to increasing importance; the aim of this study is to forecast the stock market trends by using logistic model and artificial neural network. Logistic model is a type of probabilistic statistical classification model. It is also used to predict a binary response from a binary predictor, used for predicting the outcome of a categorical dependent variable(i.e., a class label) based on one or more predictor variables (features). Artificial neural networks are models which are used for forecasting because of their capabilities of pattern recognition and machine learning. Both methods are used to forecast the stock prices of upcoming period. The model has used the preprocessed data set of closing value of TASA Index. The data set encompassed the trading days from 5th April, 2007 to 1st January, 2015. Both methods give us estimation with up to 80% accuracy.
In this article we examine markets dominated by retail investors where herding behavior can be pr... more In this article we examine markets dominated by retail investors where herding behavior can be prevalent. We consider a multi factor model to forecast stock returns that we suppose affected by size, book to market and herding behavior. Applying the model to Saudi stock market on daily data from 7th January 2007 to 1st March 2016, we construct three type of weighted portfolio: large, mid and small capitalization. The result of a logistic regression shows that our model can estimate stock returns with a higher precision of more than 70%. Using our model we estimate the out-of-sample Value at Risk using historic simulation. Finally we conduct a back testing which confirm the precision of the forecasted VaR.
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Papers by Euro-Asian Journal of Economics and Finance 23090184
Volume 4, Issue 1 by Euro-Asian Journal of Economics and Finance 23090184
Volume 4, Issue 2 by Euro-Asian Journal of Economics and Finance 23090184