Regarding Iran national budget dependence on oil revenue and its side effects on other macroeconomic variables such as liquidity and economic stability, oil revenue Hedging investigated in this study. Iran oil revenue is calculated by Dollar but it is received by Euro or other counterparts currencies. Therefore, oil revenue is not only encountered to oil price decrease risk, furthermore, but it also faces the second risk that is dollar devaluation against commercial counterparts' currencies. Therefore, any dollar devaluation against Iran oil buyers currencies is the second source of the risk factor for oil revenues. Since these two risk sources are not mutually independent, in this paper oil revenue Hedging evaluates by using modern integrated Hedging approach and compares by separate (non-integrated) Hedging results. Considering nonlinear relationships between financial variables and their specific features by using Vine Copula-GARCH approach, separated and integrated hedged portfolios has constructed and their efficiency examined. In separate Hedging, regarding oil price decrease risk and Dollar devaluation risk independently, reduces Iran oil revenue risk about 40 and 6 percent respectively, meanwhile integrated Hedging can decrease oil revenue fluctuation about 60 percent since considering oil price and dollar value interdependence. As results, according to in-sample and out-of-sample efficiency, Integrated Hedging outperforms separate Hedging and because of less needed contracts, it incurs low transactions cost.

Following the fisher’s hypothesis about the relationship between asset returns and inflation, numerous studies have tried to test the hypothesis with various data sets. Contradiction in the findings resulted to the proxy hypothesis of Fama (1981). In present article, survey the theoretical and empirical literature, and conduct a test for inflation Hedging ability of land, gold and stock in Iran. Considering the seasonal characteristics of the data (1385-1355), we use the HEGY (1990) unit root test, and VECM methodology to estimate long and short run relationships. Our findings show that in the long run, all three types of assets hedge against inflation. However, in the short run, we observe that money reserve, oil prices and real GDP are significant determinants of the assets returns.

The paper examines the issue of Hedging in energy markets. The objective of this study is to select an optimal model that will provide the highest price risk reduction for the selected commodities. We apply the ordinary least squares methods, autoregressive model, autoregressive conditional heteroscedasticity and copula to calculate the appropriate dynamic minimum-variance hedge ratio. The objects of Hedging are the spot and futures prices. We use weekly data for the period 2013 to 2018 to estimate our values. Empirical results show that the Copula model is the most effective method for Hedging against price risks.

One of the most important roles of a futures market is to provide the means of risk reduction. Optimal hedge strategy is determined via calculation of the hedge ratio. Estimation of hedge ratio and Hedging Effectiveness depend on correct specification of relation between spot and futures prices. Thus in this paper hedge ratio is estimated for the natural gas futures market by different methods e.g. OLS, VAR, VECM, and GARCH and their Effectiveness is compared. In GARCH method, hedge ratio is time-varying so the time series of hedge ratio are estimated while the in other methods a fixed hedge ratio is estimated. Results show that GARCH hedge ratio has higher Effectiveness rather than other methods and the Effectiveness of other methods are ranked as: VECM, OLS and VAR respectively.

Purpose: The purpose of this applied research is to study the Effectiveness of gamification on corporate training.  Methodology: A gamified course was designed and implemented to train the location of Fire Hosing Cabinet for 24 employees of a firefighting maintenance company in Iran Mall shopping Center in Tehran. Using a quantitative quasi-experimental research plan (post-test only control group design) the participants of the study were randomly assigned to treatment (12) and control (12) groups and trained for a week.  Conclusion: The descriptive and interpretive result of the posttest analyses indicated the Effectiveness of gamification of the training performed for the employees of the firefighting maintenance company in Iran Mall shopping Center in Tehran. Moreover, the descriptive result of Gamification Acceptance Questionnaire answered by the members of the experimental group after gamified training indicated that all the participants in the experimental group were satisfied with the gamified training course.