محمدرضا مهربان پور

This paper sought to address the feasibility of dissecting stock price momentum in the firms listed in Tehran Stock Exchange using financial statement analysis (FSA). Different variables including those related to profitability, financial leverage and liquidity, and operating efficiency were used in this analysis. The study sample consisted of 130 firms listed in Tehran Stock Exchange over the period 2008-2019. The results showed that fundamental factors affected stock price momentum for one year in the winning portfolio and for two years in the losing one; after this period, financial information did not have a significant effect on stock price momentum. Therefore, stock price momentum performance is a function of the conformance of the past price performance to fundamentals. The results from investment strategies based on the past price performance-fundamentals conformance indicated that fundamentals cause a significant difference in stock excess returns in winning and losing portfolios.

Purpose: The purpose of this research is to design and evaluate the effectiveness of the social responsibility model of companies active in the capital market affected by the epidemic of the Covid-19 disease. Methodology: The current research is a mixed research (qualitative-quantitative) and is practical in terms of purpose. In the qualitative part, nineteen members of the expert panel were determined using the snowball method. At the same time, G_Power software was used to determine the size of the statistical sample in the quantitative section, which determined it to be 120 cases. In order to analyze the data to reach the research objectives, Delphi technique was used in the qualitative part. Also, in the quantitative section, structural equation modeling using SmartPLS software was used to measure the efficiency of the model. In the qualitative section, after reviewing the research literature, 19 primary indicators were identified in the form of three main components, and the opinions of the expert panel members were used to measure their effectiveness using the Delphi technique. Finally, after two rounds, this technique reached the saturation stage. Findings: In the quantitative part, using the PLS technique, it was found that all three main components have a positive and significant effect on social responsibility, and at the same time, in terms of the severity of the order of the factors, it is internal factors, macro factors and company characteristics. Conclusion:The results of this section show the removal of three indicators from the primary indicators and at the same time the addition of four secondary indicators, which led to the identification of three final components and twenty sub-components.