NAMEH-YE-MOFID
Year:2007 | Volume:12 | Issue:1 (57 ECONOMICS)|Papers Count:10

"Bankruptcy prediction models" are one of the tools used for making a decision about investing in a corporation. The purpose of the research is to present the best "conditional probability model" with the ability to predict the economic bankruptcy of corporations in Iran.According to the research results, Four-variable probit & logit models have the most predictive power concerning the economic bankruptcy of corporations in Iran with their descriptive variables:Currenl assets/ Currenliabilitie Grossrofit/ sales NeProfit/ CurrenLiabilitiesAlso, the present research indicates that; first, the trend of the economic bankruptcy of corporations in Iran is not a long-term and slow process, rather corporation's go bankrupt as a result of the economic fluctuations and political variables during some financial periods.Second, the high amounts of production cost, payable interest expense and production bureaucratic expense are considered as the most important intra-organization factors causing the economic bankruptcy of corporations in Iran. Third, profitability variables and variables of covering the liabilities by corporation profit have the most effect in preventing the economic bankruptcy of corporations in Iran.

The effect of financial information on stock market behavior is a central issue of research in accounting and finance. A large number of studies investigate the effect of financial information on stock prices and investment decisions. The need to understand and measure the determinants of market makers bid-ask spreads is crucial in evaluating the competing market structure. In this paper after a brief review of literature, we investigate the bid-ask spread that accounts for the effects of order processing costs, inventory holding costs, adverse selection, competition and the difference in expectations.

The optimal use of resources in interest-free banking, which are implemented in Islamic countries including Iran since long ago, requires an appropriate approach of measuring and evaluating the factor productivity. This study has attempted to measure total factor productivity in an Iranian interest-free operating bank (Agricultural bank), resorting to a modified intermediation approach of measuring productivity in defining inputs and outputs, for the period 1992-2001. Results indicate that aggregate quantity index of bank's outputs has experienced an annual growth rate of 37.2 percent, while the aggregate quantity index of inputs has revealed a growth rate of 19 percent over the period of study. Accordingly, total factor productivity index shows an annual growth rate of 15.2 percent in the study period. This finding indicates that the interest-free banking operation which has been implemented since 1983 in Iran has experienced considerable productivity improvement in utilizing resources, despite some difficulties which bank faced in operating the new system.

Using the currency substitution theory, this paper attempts to identify the determinants of currency substitution degree in Iran and Canada. Despite the reduction in the volume of dollar in some years, the trend of currency substitution has been increasing. This Paper examines Currency Substitution phenomenon in Iran's economy and Canada's economies through estimating domestic and foreign money demand over period 1959-2004.The result implies that Currency Substitution in Iran is one-way and in Canada it is two-way. In this Paper two functions of demand for domestic and foreign currency for Iran and Canada were estimated. By estimating these functions for the period of 1338-1384, the existence of currency substitution phenomenon in Iran was examined and approved.

Decreasing the regional deprivation and injustice is an important subject in most of the developing countries. In Iran, one of the important goals in post revolution socio-economic plans has been the reduction of the deprivation among the different regions. This study, by using 161 socio-economic indicators and with the help of factor analysis and taxonomy in two periods of 1994 and 2004, demonstrate that the level of development of the provinces (during the years of study) has increased by %250; but the inequality among them increased about %4.57.

Income distribution and economic welfare always have been considered by economists and politicians. Therefore, many different measures have been established for their surveys. Rawls and Sen are the most famous scientists that have taken great steps in this field. In this essay, to investigate Iran social welfare, first we reviewed social welfare functions and then applied Sen. Social welfare function for Iran data from 1370 to 1383. In spite of problems in calculation of qualitative indexes, we found that Iran social welfare have increased in this period.

The price of crude oil is affected by different factors, and it fluctuates a lot, that produce risk of the price. Therefore risk management is a complex process and includes identification, evaluation, selection of optimum method, planning for execution and supervising the activities. Risk coverage is one of the strategies for management of risk. This in itself needs financial tools. Most businessmen in world oil market use these tools to avoid the effects of price fluctuation. This paper deals with risk coverage strategies in relation to future contracts for Iranian crude oil. At first the aim is to cover the risk will be set forth & then by estimating the number of optimum future contracts, the coverage rate in two forms of static & dynamic is estimated and finally for selecting the best type of contract & module, statistical, economic & econometric method have been used.The results have shown that, using future contract, reduces the risk fluctuation by 80 to 96 percent, and efficiency of contract is increased by their duration as a result ,future contract with four months duration is identified best for reduction of risk. Also static coverage rate for its optimizing effect has given a better result.

OPEC members' collusion as a market sharing cartel is one of the most important theories was introduced by Adelman and then expanded by Griffin and many researchers have tested it in different periods. OPEC Crude oil supply management during 2000-2005, was adjusted after price decreasing in 1998 and 1999, is most successful period for members collusion. In this paper, considering Griffin model, it is tried to test it with simultaneous equations system during 2000(1)- 2005 (12). The results show that first; in general, OPEC members strongly have followed the market sharing model. Second, test of bi =1, Yi =0 for five countries, Iran, Indonesia, Algeria, Kuwait and Venezuela is not rejected, so these countries have been following constant market sharing behavior. Although, test of bi = 1,Yi ¹ 0 for four countries, Iraq, Qatar, United Arab Emirate and Saudi Arabia is not rejected, so these countries have been following relative market sharing behavior and the behavior of Nigeria and Libya don't reject the hypothesis bi >0, Yi ¹0, means the partial market sharing behavior.