In this paper we distinguish between Operational risks depending on whether the Operational risk naturally arises in the context of model risk. As the pricing model exposes itself to Operational errors whenever it updates and improves its invest-ment model and other related parameters. In this case, it is no longer optimal to implement the best model. Generally, an option is exercised in a jump-diffusion model, if the stock price either exactly hits the early exercise boundary or the price jumps into the exercise price region. However paths of the diffusion process are continuous. In this paper the impact of Operational risk on the option pricing through the implementation of Mitra’ s model with jump diffusion model is pre-sented. A partial integral differential equation is derived and the impact of param-eters of Merton’ s model on Operational risk and option value by Operational value at risk measure is employed. The option values in the presence of Operational risk on data set are computed and some of the results are presented.

Operational risk along with its management methods is considered as one of the significant fields in banking industry, which has potential influences on the performance of banking and financial institutes.One of the major steps in managing Operational risk is its measurement which is aimed at measuring the required capital for this risk.Regarding the fact that banks have been trying to observe regulations and standards of Basel Committee more than before, measuring the required capital for Operational risk to confront the crises and to place it in capital adequacy ratio is of great significance.There are three approaches to measure Operational risk capital, such as the basic indicator approach, the standardized approach and the advanced measurement approach. In comparison with the advanced measurement approach, the two approaches of the basic and standardized require less data. That is because the former one needs a wide range of loss data.

The aim of this paper is to investigate the relationship between conservative risk management and operating cash flow in accepted companies in Tehran Stock Exchange. The research method was descriptive-correlation and hypotheses have been tested by using regression models and panel data methods.122 companies were involved as the research sample. Library method using book, thesis, and Persian and Latin papers has been used to collect literature. For collecting statistical data the financial statements of accepted companies of Tehran Stock Exchange was used. The results of the analysis at 95% confidence level indicate that there's a significant relationship between conservatism and operating cash flow. There's all so a positive and significant relationship between unconditioned conservatism and operating cash flow. But there's no relationship between operating cash flow and conservatism.

In this paper, a novel risk-based, two-objective (technical and economical) optimal reactive power dispatch method in a wind-integrated power system is proposed which is more consistent with Operational criteria.  The technical objective includes the minimization of the new voltage instability risk index. The economical objective includes cost minimization of reactive power generation and active power loss. The proposed voltage instability risk employs a hybrid possibilistic (Delphi-Fuzzy)-probabilistic approach that takes into consideration the operator’s experience, the wind speed and demand forecast uncertainties when quantifying the risk index. The decision variables are the reactive power resources of the system. To solve the problem, the modified multi-objective particle swarm optimization algorithm with sine and cosine acceleration coefficients is utilized. The method is implemented on the modified IEEE 30-bus system. The proposed method is compared with those in the previously published literature, and the results confirm that the proposed risk index is better at estimating the voltage instability risk of the system, especially in cases with severe impact and low probability. In addition, according to the simulation results compared to typical security-based planning, the proposed risk-based planning may increase the security and economy of the system due to better utilization of system resources.

Economic growth is one of the headmost aims of developing and developed countries. Increasing economic growth can increase public welfare, reduce poverty and reduce unemployment. Recognizing the factors affecting economic growth is essential and undeniable, but distinguishing the obstacles to economic growth can be far headmost and effective. risks are among the most influential and vital factors affecting economic growth. Economic and non-economic risks are consequential obstacles to economic growth. Iran is constantly exposed to various risks due to its geopolitical situation in one of the turbulent regions of the world, the Middle East. The main aim of this paper is to investigate the impact of Operational risk on economic growth in Iran during 2014Q1 – 2021Q4 using the time-varying parameter vector auto-regressions (TVP-VAR). This research uses Operational risk for the first time, with four main sub-indices: i.e., labor market risk, trade and investment risk, logistics risk, and security-crime risk. The results of this research show that the improvement in Operational risk and its sub-indices has a positive effect on economic growth in Iran. Furthermore, international sanctions have an immense impact on Operational risk and, consequently, have a negative impact on economic growth. Nevertheless, policymakers are suggested to reduce Iran’s international tensions, concretely, the countries that have an extensive impact on the world’s economy to improve the Operational risk, increase foreign investments, improve the business environment, reduce the cost of trade and business transactions, and, as a result, provide the country’s economic growth and development.

A firm’, s tendency to supply and demand an optimal amount of trade credit stems from the fact that deviation from this level can negatively affect the firm value. Firms are constantly looking for an optimal level of trade credit,however, the associated costs slow down the adjustment process. Nevertheless, there are some factors that can speed up the achievement of an optimal trade credit. This study investigated the effect of Operational risk and firm’, s market power on the speed of achieving the optimal trade credit ratio in 128 listed companies in Tehran Stock Exchange (TSE) for the period of 2005-2020. Panel data and system GMM estimators were used for this purpose. The results showed that the sample firms reduced around 65% (39%) of the gap between the supply (demand) of the actual trade credit and the optimal level every year. In other words, they could correct half of the deviation of the supply (demand) of trade credit within about 8 months (17 months). In addition, the research findings indicated that an increase in the Operational risk and firm’, s market power enhanced the speed of achieving the optimal level of trade credit. The supplementary analyses confirmed the main research findings and were consistent with the trade-off theory.

In recent years, after the economic crises, the value of Operational risk assessment has been observed in the financial industry, while the biggest impact of Operational risk has been on the banking industry. As a result, more attention has been paid to Operational risk assessment in the banking industry after the financial crisis. Operational risk is defined as the risk of loss caused by the inadequacy or inefficiency of internal processes, people, systems, or external events. In this regard, institutions and banks have been looking for Operational risk assessment by taking different approaches, including the approaches of the Basel Committee. The current research aimed to review Operational risk management in the banking industry. Using the meta-synthesis method, 643 related research documents between 2000 and 2022 were gathered from among reliable scientific databases. By using this method, 43 final documents made the basis for extracting the findings. Finally, this method identified 5 main categories, including Operational risk, risk assessment, risk quantification methods, risk analysis, and risk management, as well as 10 subcategories consisting of 43 concepts and 169 codes. The results were confirmed based on the experts’ opinions with a kappa index of 0.756.Keywords: Operational risk, Advanced Measurement Approach, Basic Index Approach, Standard Approach, risk Management. IntroductionThe significant losses suffered by financial and non-financial institutions from various non-credit and non-market processes and factors have made many managers and decision-makers of these organizations pay attention to the field of "Operational risk". Operational risk and its management methods are significant topics in the banking industry. They have potential effects on the performance of banks and financial institutions. According to the conducted research, authors have looked at risk from different perspectives. The relevant groups have focused on the definition of risk, classification of Operational risk events, measurement and characteristics of Operational risk management, and comparative analysis of different estimates (Barakat & Hussainey, 2013). Method and DataThe current study was an applied research based on collecting documentary information. Using the meta-combination method, 643 related research documents between 2000 and 2022 were gathered from reliable scientific databases. By using this method, 43 documents finally made the basis for extracting the findings. FindingsUsing the meta-synthesis method, 643 related research documents between 2000 and 2022 were gathered from reliable scientific databases. By using this method, 43 documents made the basis for extracting the findings. Finally, this method identified 5 main categories, including Operational risk, risk assessment, risk quantification methods, risk analysis, and risk management, as well as 10 subcategories, 43 concepts, and 169 codes. The results were confirmed based on the experts’ opinions with a kappa index of 0.756. Discussion of results & Conclusion In this research, the studies conducted in the field of Operational risk were classified by using the meta-synthesis method. The meta-synthesis method was consisted of 7 steps. First, the questions related to the research were designed. In the second stage of the systematic literature review, 643 related articles in the field of Operational risk from 2000 to 2022 were collected. In the next step, the related articles were selected based on title, abstract, and text. Then, 43 related articles were identified and 169 codes were extracted. Afterwards, the data analysis and data synthesis were done and the numbers of main categories, subcategories, and concepts were identified. In the sixth stage, quality control was performed and used to determine the value of Cronbach's alpha from the experts’ points of view. In the last stage, the relationships between the research findings were shown by using a tree diagram. In the field of Operational risk, the meta-synthesis method had not been used for systematic review, classification, and categorization of the results of the articles. In this research, unlike the previous research, the related articles were classified by using the meta-synthesis method. Then, the categories and concepts were extracted and the relationships between them were shown in the form of a tree diagram.

Industrial operations in high H2S gas wells can cause serious environmental, financial & health consequences. risk management is important, especially when the world is at war with the SARS-COV-2 pandemic; we should have stronger boundaries to protect lives. One of the common methods is the hierarchy method. In this study, by combining this method and designing a new correlation to calculate static bottom hole pressure at gas wells, we tried to have strong risk management with the final goal of replacing the industrial operation. In the past, time-consuming and imprecise trial and error methods& expensive operations were used to calculate static bottom-hole pressure for gas wells. So, a general equation was modified based on field observations to obtain more accurate static bottom-hole pressure predictions. For this purpose, a unique adjustable parameter, based on the history matching of wells, has been proposed for each reservoir. The accuracy of this equation was investigated in three Iranian gas reservoir information. Good agreement was obtained between the field observations and this proposed equation. The precision of this method depends on field data, and with increasing numbers of field tests, the model becomes more accurate.

The development of Istisna securities as one of the Islamic financial instruments requires identifying and analyzing its risk. This article seeks to select the model and the optimal risk coverage solution in the operating models of Istisna securities. According to the findings, the selection of the optimal model in the risk coverage of Istisna securities has led to attracting liquidity of risk-averse groups of investors and will provide the financial resources needed by economic institutions in the community. Using a descriptive-analytical method, using the questionnaire tool and its distribution in the statistical community of scientific elites and financial market experts and specialists and utilizing the five-choice Likert spectrum this research has been proposed. The results show that among the Operational models of Istisna securities, the Islamic Stock Exchange model is the best model. Among the risk hedging strategies, the central bank strategy and the commitment method can be recommended as the best strategies.