INTERNATIONAL JOURNAL OF MANAGEMENT AND BUSINESS RESEARCH
Year:2011 | Volume:1 | Issue:4|Papers Count:7

In this study, the profitability of contrarian and momentum strategies were traded in mid- term based on trading volume. To do so, the stocks were categorized into three parts (high, middle and low). For further analysis, the relationship between excess return with three components such as cross-sectional risk, lead-lag effect and time-series pattern were examined based on Jegadeesh and Titman approach. The sample including 108 listed companies of Tehran Stock Exchange that were traded over 2005-2010. The data was collected annually, monthly and daily using Tadbir Pardaz and Rahavard Nouvin softwares. The hypotheses were tested using mean comparisons test, ANOVA and Ordinary Least Squares. The results show that by increasing trading volume, the momentum or contrarian return will be increased. There is no significant momentum or contrarian return is explained with cross-sectional risk and lead-lag effect in medium trading volume. Moreover, the momentum return can be described with independent variables on middle and high trading volume.

The main challenge for any insurer/reinsurer has proved to be underwriting major refinery/Petrochemical risk has been the challenge for any insurer/reinsurer. Insurers have been considering process risk management measures while accepting and evaluating the risks all over the world. Erstwhile petrochemical tariff was adopting experiencing methodology as basis for premium calculation in Iran. In the present de-tariff scenario decisions will be crucial for underwriters on accepting the risk and deciding the terms and conditions. On the other hand the insured will be looking for merit based rating instead of general market driven premium calculations. Generalizing the risks based on the type of occupancy or the past experience also won’t do well either to the insured or to the insurer. Chemical process quantitative risk analysis (CPQRA) is a methodology designed to provide management with a tool to help evaluate overall process safety in the chemical process industry (CPI). Management systems such as engineering codes, checklists and process safety management (PSM) provide layers of protection against accidents. However, the potential for serious incidents cannot be totally eliminated. CPQRA provides a quantitative method to evaluate risk and to identify areas for cost-effective risk reduction. This method can be used as an effective tool in the entire gamut of underwriting of petrochemical risks in case of property insurance. One of the most important issues in insurance companies, is the correct decision to accept insurance risk. Insurers to cover risks in the process of motivation and a desire to identify and eliminate conditions that risk. Premiums payable by the insurer that the insurance will be commensurate with risk. Insurers attempt to identify and reduce risk can be a very important role in increasing safety in the community. One major concern for insurers or reinsurers to accept risk of petrochemical refineries, and the tariffs and conditions commensurate with the risks have been identified. Insurers are seeking ways to reduce risk insured. At the end of this paper we want to introduced as an effective and good process for risk analysis that is useful for Insurance company to identified and predict this kind risks.

The paper discusses about the location-allocation model for logistic networks and distribution centers considering uncertain parameters. In real-world cases, demands and transshipment costs change over the period of the time. This may lead to large cost deviation in total cost. Scenario based robust optimization approaches are proposed where occurrence probability of each scenario is not known. It is supposed that in this case we have budget constraints and also holding the products in the distribution centers until sending them to the retailers’ destinations results additive cost that can be defined as inventory control cost in the model. In this paper, uncertainty is defined by different scenarios. Some robust approaches are presented by authors that can be applied in location-allocation problem. The robust scenario based approaches like absolute robust and robust deviation are applied in location-allocation problem. Also a new robust approach is proposed that outperforms the existing classical approaches. The mean expected model has been discussed to be compared with the robust proposed approaches. A numerical example illustrates the proposed model and the results have been reported. Finally the comparison of results shows the efficiency of proposed robust approach in comparison of classical approaches and also mean expected model.

This paper investigates the effect of exchange rate uncertainty on the Iran’s import trade. The exchange rate ‎uncertainty series were generated utilizing the TARCH model. This model analyze the asymmetric effects. As a result, analysis of uncertainty and asymmetry ‎of the exchange rate shows significant TARCH ‎effect on Iran’s exchange rates‎. We find ‎significant asymmetric effects on the real exchange rate. Results show negative shocks (bad news) had greater impact on volatility during the period. In the next stage imports demand function is estimated. There was a long run relationship among, real import ‎demand, real national income, real exchange rate and uncertainty of real exchange rate. Results show significant ‎and negative impact of exchange rate uncertainty on Iran’s imports, and import demand is positively affected by ‎real national income. Furthermore significant and negative impact of real exchange rate on Iran’s real imports is ‎found.‎

This study draws attention to the ubiquitous and borderless nature of cybercrime. It examines the prospect of introducing customized cyber insurance policy in the Nigerian market. As secondary data was not available, the study conducted a survey by administering three sets of questionnaire to purposively selected top executives in four Trade Groups that rely heavily on Internet transactions for their operations. The study found that the rate of usage of the Internet and the attendant exposures to cyber-attacks among the various Trade Groups are quite high. Findings also show that the traditional policies have limitations with respect to protection against cyber risks and that there is a prospect for marketing a specifically designed cyber insurance policy in Nigeria.

Cloud computing is a new discussion in enterprise IT. It is becoming popular in terms of distributed technology in some companies. It helps managers who intend to setup business in cyberspace need not to provide high capital to buy computers, software and hire experts staff, instead they can run their business with low cost. Cloud computing also helps users pay for their use of services without needing to spend massive amounts for integration, maintenance or management of the IT infrastructure. In this paper, we have tried to present a model for evaluating user’s satisfaction in cloud computing. Therefore, a conceptual model has been constructed considering attributes such as (security, efficiency and performance, adaptability, and cost) to evaluate cloud computing user's satisfaction in an Internet Service Provider (ISP) companies in Iran. To avoid any ambiguities which are caused by linguistic methods, in this evaluation model we have used Fuzzy Inference System (FIS).

The present study used different categories of organized sector manufacturing industries pooled data for the periods of 1981-82 and 2007-08 in Haryana state (India). The present undertaking seeks to analyze the inter-temporal and inter-industry comparison of total factor productivity (TFP) measured by Malmquist productivity index - an application of DEA which calculates the indices of TFP and its components including technology and efficiency changes. The general development pattern observed by the Haryana is definitely not a healthy sign of structural change in the economy. The analysis of the discussion reflects that while the tertiary sectors have maintained its lion’s share in GDP of India and Haryana as well, the declining trend in the share of primary sector and more or less stable contribution of the secondary sector is noticeable.The study reveals that technical efficiency change is the key driver of TFPG in the manufacturing sector of Haryana during pre reforms period, however, the picture has turned around during the post reforms period. A positive impact of liberalization policy on technological advancement of the manufacturing sector of the state has been experienced. The post reforms period the state has shown the inefficiency in the utilization of resources in hand as an alarming sign indicating the incapability of manufacturing sector of the state in question in dealing with the level of technological advancements.