MODARRES HUMAN SCIENCES
Year:2000 | Volume:4 | Issue:2(Tome 15)|Papers Count:7

The Arbitrage Pricing Theory (APT) of Ross (1976) and extentions of that theory constitute an important branch of asset pricing theory and of the primary alternatives to the Capital Asset Pricing Model (CAPM). The APT 1.5based on the popular intuition that the security returns are affected by a small number, k, factors. Thi5 intuition 1.5 translated into a factor model expressed as: Rit = E(Ri )+ bij . Flt + ... + bik . Fkt + εit where Fs are the standardized factor scores in that they have zero means and unit standard deviations and bijare sensitivities of the factors and E(Ri) is the expected return ofith asset. Ross assumes that the market which consi5ts of infinitely many securities 1.5efficient in the sense that the payoff on an arbitrage portfolio, a zero cost portfolio with zero sensitivities, is zero. The factor model and no arbitrage assumptions lead to the pricing equation of the APT: E(Ri) = λo + λj. bij + ... + bik. λk where Ao is a risk free rate and ,1jis risk premum corresponding to risk form the jth factor. In this paper we survey the theoretical underpinnings of the APT, and examin it in the stock exchange of Tehran.

It is often assumed ,that Shiahelements in Persian art first appeared in great numbers under the early Safavid dynasty, since Shiah was introduced into Persia as the official religion by them. This study, however, examines an alternative possibility arising from the fact that many elements aSsociated with shiah beliefs can be dated to the Timurid period. The study involves Presenting Shiah beliefs in Persiafrom the late fourteenth to the early seventeenth centuries and focusing on the painting and inscriptions that played a part in defining Shiah beliefs. The results show that the art of illustrating in of the Shiah manuscripts received a great deal of support under the Timurids during the fourteenth to the early sixteenth centuries, as well as in the early Safavid period. There were differences in the attitudes of the two dynasties and we will show that these differences are resulted from the desire of the officially Sunni Timurids to justify themselves to their Shiah subjects and the Shiah Safavids to present their own Islamic beliefs. Previous studies on this period have not given proper allowance to the way in which the artistic output under each dynasty can help to demonstrate their sympathy towards Shiah.

Embezzlement and misappropriation ofpublic property are amollg crimes against public order. Both of which have certaill charaCteristicsin common, while they are different in other aspects. What relates these two crimes toghether is the characteristics of the offender, becouse in both cases the offender must be a "public employee or in a position to act as a public employee" and the essential difference between them would be the type and means of "criminal behavior". Consequently, the criminal behavior ill embezzlement is "withdrawal and appropriation", while ill misappropriation of public property is litheemployment, usage or illegal application" of public property. The subject of both crimes concerns with property essentially the goverment property or the property of the public domain. However, embezzlement concerns with personal property, while the misappropriation of public property concerns with both personal property and immovable property. Funds are not considered among misappropriation of public property, since if funds are appropriated the crime of embezzlement is committed. With respect to other properties, one must analyze the situation while considering the manner of interference and other aspects relating to the crime. In instances that the crime committed cannot be fully assessed or determined, and considering that embezzlement in its moral and materrial context requires conditions and elements which exceed misappropriation, and relying on the principle of ruling on behalf of the defendant, this criminal act will be regardedas misappropriation of public property rather than embezzlement.

The present research studies the effect of adult vocal patterns and their personality characteristics on the mental imagery of the blind and sighted children. The samples were 60 boy students (30 blind students from Isfahan Ababasir blind school and 30 sighted ones ~ from adjacent schools) of the age 11 to 12 and all in the fifth . (primary)gradein 1998 - 1999. To gather infromation in different steps of research, the cattle-16 ~. personality1actor question naire and a self-made one based on the Cattles factors as well as some of physical characteristics a tape recorder and a video were used. The randomly selected subjects were devided in to experimental and control groups. They were matched according to the age-group characteristics, social-economical status, grades and averages. In the first place, voice and picture of 10 teachers while dictating a definite passage were recorded and then their personality factors were extracted by the cattle-16 personality-factor question naire. therefore 6 teachers whose scores on some of personality (affective) factors were higher or lower than mean were chosen. Secondly, all blind and sighted subjects were exposed to the uocal patherns and in older to check the mental images only the sighted subjects were made to watch voice producers. The obtained data were analysed by pearson correlation, Toky, Multiple regressionanalysis, and one way analysis of variance. The results showed that: the effect of the adultvocal patterns and their personality characteristics on the mental imagery was different. The blind and sighted children did not follow the same pattern. (students Blind children utilized spontaneously their hearing or auditory sence and the sighted ones made use of their sight). The result was more related to the affective personality factors such as A factor (warmness), E (dominant), F (enthusiastic), I (sensitiveness), L (trusting), H (boldness, venturesome), 0 (apprehensive) and Q4 (tense). Furthermore, the mental images of the blind and sighted children regarding other cattles factors were the same and there was no difference between their images on B factor (inteligence), C (emotional stability), G (moralistic), M (practical), N (astuteness), Ql (conservatism), Q2 (self-sufficiency), Q3 (self-control, self-disciplinary). And also the images of physical characteristics, height, weight, age and superior beauty, of the sighted when they saw the voice producer compared to the blind images when they heard the adult voice seemed real. Finally it became clear that the blind pleasant mental images of the adult vocal patterns were related to the above 8 (affective) factors. This fact revealed that there was a significant relationship between the blind pleasant mental images and some adults affective personality factors.

The mystical exegesis of Quran is based on special principles whick are intellectual, ideological, and linguistic principles. The exotric and esotric principles and this point that the mystics assume their perception as a kind of revelation are related to the intellectual principle. The mystic language which is allegorical, besides esoteic interpretation, is concerned with linguistic principle. Out of these principles, we have selected a research on the first principle (esotric and exotric). This article consists of three important discussions which are actually considered as different aspects of the above-mentioned principle. a) Mystics claim that the world of creation has esotric and exotric prinaiples. An attempt is made to examine this claim with reference to their mystical works. The subjects discussed here are the comparison between Book of Genesis (Takwin) and Quran (Tadwin), and also the similarity between the world, Quran, and man, as far as they follow exotric ,and esotric principles. b) The second subject discussed here is the exotric and esotric meaning of Quran. An attempt is made to examine this subject with reference to Quranic words and verses, and also statements made by some mystics in their works. c) The last subject being the presence of some of the traditions in the hadith and commentary works on Quran, which points to the exotric and esotric meaning of Quran. After presenting some of these Hadiths, such terms as "esoteric""exoiric" "Hadd" and "Matlaa" are explained.

In this paper a mechanized system based on multivariable system fundamental has been developed for the evaluation of academic books. For this, extracting quantitative indices from qualitative concepts and weighting these indices according to their effects on the evaluation, they have been used as input vector for a multivariable system. Then, quantitying conceptual processes of evaluation as a structured Procedure, a mechanized algorithm has been propased to calculate and make decision about evaluation results.

The study of combining forecasting in Tehran stock exchange has been discussed in this survey. Combining forecasting is a new method and various studies have been done about this subject the results of which have shown most reduction forecasting errors. In this study multiple regression model is used to combine individual forecasting methods. To do so, several forecasting methods were studied and five methods (Box - Jenkins, linear smoothing, Holt, Power & quadratic trend) were selected. Pars Electric company was subjcted to a case study with 159 weekly data. These five methods, were evaluated based on multiple regression with stepwise method and finally, two methods (Box - jenkins and quadratic trend) adjusted. The errors of this model were compared with the other used methods (MAD, MAPE, MSE). The errors rate of combining forecasting methods were compared with the best forecasting method. The result showed that MSE ,MAD, and MAPE of combining model were 0.064, 0.26, and 0.24 to the best method respectively. These indicate considrable reduction in the error of combining forecasting comparing to the other methods