Financial managment

Scientific findings indicate that the efficiency of different investment strategies is varied, so financial experts have classified these strategies from diverse perspectives. One of the most common categories as the major academic studies which have been done on this classification is passive, active and momentum strategies, but so far none has been done around correlation of investment strategies. In this study, we have tried to examine concepts in two major sections; first, investigation of investment strategies and second, correlation of strategies in Tehran stock exchange. Our statistical sample companies are listed in Tehran stock market from 2006 to 2010. We have excluded investment companies, because of high financial leverage and low trading or inactive companies. To study the main and subsidiary hypothesis, we used t-test for two independent samples, to compare, and in second section we used Pearson correlation coefficient. The result indicated that real and legal investors intended to provide portfolios with optimum risk and return in Tehran stock exchange (TSE) and should consider correlating between different investments strategies.

This paper aims to explore the relationship between ranking of the top-50 listed companies on Tehran Stock Exchange (TSE) for the years 2009-2011 in terms of their liquidity, operation, leverage and profitability ratios using combined AHP-TOPSIS approach and the ranking made by the stock exchange. Ranking of the companies on the stock exchange is done based on their state in terms of the above ratios and it serves as a criterion for decision making on investment. Using a questionnaire, views of experts, scholars and the capital market authorities on the effect of financial ratios were gathered and then using AHP-TOPSIS technique the companies were ranked based on these ratios. The obtained results from the Spearman Test show a weak correlation between the rankings based on AHP-TOPSIS approach and the ranking of the stock exchange. Finally, our results indicate that financial ratios of the top stock exchange selected companies are crucial factors in investment and ranking. This paper contributes to a signaled need for investigation on how and why financial statements of top listed companies cannot be regarded as a critical factor in ranking and decision making on investment.

Asset-liability management (ALM) helps managers achieve their respective objectives by surveilling and controlling the ways through which resources are obtained and allocated. Furthermore, with the help of liquidity management, which sets the required cash by banks for fulfilling costs and other needs (e.g. the cash requested by depositors), ALM controls the risk. In addition, ALM helps managers realize profitability and efficiency of the bank through the application of goal programming (GP) whereby multiple objectives are simultaneously considered when making decisions. In the present research, upon collecting the required data and information, acquiring opinions of experts at a sample bank, and investigating balance sheet of the bank while considering respective constraints, orders of priority of objectives were determined. The results indicated consistency of some items in the balance sheet, such as cash inventory and liability to Central Bank with those set by the model. On the ...

Ranking of companies listed on the exchange represent their status and considered a criterion for investment. Also, it increases market's competition, development and efficiency. In this study, the fifty superior companies listed in Tehran Stock Exchange were ranked based on financial ratios (liquidity, operational, leverage and profitability) using FAHP- FTOPSIS hybrid approach during the years 2013 . Initially, capital markets authorities and universities' financial masters perspectives about effect of ratios were collected by questionnaire and weighting with FAHP technique and then companies were ranked based on ratios using the FTOPSIS technique. The results indicate that there is a weak correlation between two groups of ranking. In fact, results show that the stock exchange’s selected top companies necessarily do not have higher rankings in terms of financial ratios and the firms’ financial Statements are weak approximation for firms’ superiority likelihood in the stock...

The fundamental determinant of developed societies in the present evolving world is how knowledge, education, research, as well as efficient workforce status are acquired. In this regard, the dominant and advantageous contribution of all natural, economic, and strategic resources and factors is substituted by the extent of benefiting from sciences. Higher education is the highest and last step of educational system in any country, always closely linked to communities’ development. Higher education financing, which must go along with developing higher education industry and economic development, is what that significantly influences developing higher education system. The important issue for financing higher education is to apply proper methods of financing universities. Hence, the present research collected the information of identifying financing methods of top universities in Iran and around the world using library research method. And finally, the methods are analyzed and compare...

Nowadays, issues such as increasing competitive pressures, technological complexity and specializing of tasks, high level of costs make organizations to review their management frameworks and turn to new strategies to achieve a competitive advantage in the current business world. One of these strategies is to focus on the main competences and consign most activities to internal sources of organization (out sourcing). To chive this, banks world outsource in order to offer better services to customers, reduce costs level, improve the quality of services and enhance their performance, have more flexibility against market's inconsistency and to achieve new skills and technologies and also to focus on key potentials. Despite the fact that outsourcing of main activities conduce to various benefits for an organization, but it includes different risks that needs effective and crucial management. This article intends to detect those risks and study their effects on banks outsourcing process, in which the dependent variable is business process outsourcing and independent variable is the risk. To study the effects of these risks on outsourcing, the researcher applies correlation coefficient and regression analysis.