درخت حوزه‌های تخصصی

One of the variables affecting the behavior of enterprises is the exchange rate. Uncertainty about the amount of exchange rate volatillity for each firm is considered as a risk. The aim of this study is to explain a model to investigate the effect of exchange rate shocks on the financial sustainability of export-oriented companies. In this regard, the data on exchange rate, tax, oil revenue and export variables on financial sustainability was collected for 19 groups of companies from 2008 to 2019. To achieve the research goal, the Panel Vector Autoregressive Model (PANEL VAR) using the generalized method of moments (GMM) was used to analyzed the data. Then the results were interpreted using the Impulse Response Function and variance decomposition. The results of the IRF show that the effect of exchange rate volatility on the financial sustainability variable is initially negative, but has a positive effect over time and is neutralized after several periods. The same goes for an impulse equal to a standard deviation in tax. Also, the oil revenues and exports impulse have negative and positive effects on financial sustainability, respectively. According to the results of variance decomposition, it can be said that the effect of exchange rate on financial sustainability is greater than the effect of sustainability on exchange rate, because the exchange rate shocks have more explanatory power for sustainability fluctuations.

Khorasan Razavi Province suffers from the most critical groundwater resources in Iran, i.e. the groundwater decline has reached 1 m; 34 out of 37 water plains are banned in Khorasan Razavi Province. Recently, Mashhad plain has been fighting with the crisis of drought and water scarcity. Illegal harvesting from groundwater resources and the warming trend caused by change in climate have exacerbated the crisis. Comprehensive water resources management, assuming the complicated nature of water-related issues, rapid growth of population, water requirement for a variety of purposes, and limited water resources, requires novel methods to stack up technical, economic, environmental, social, and logical perspectives in an integrated forum. One of the tools for comprehensive water resources management is utilizing hydro-economic models to simulate the present status of drainage basins and evaluate the impacts of different scenarios and policies. The current study used a hydro-economic model to simulate the hydrological status of Mashhad plain and evaluate the impacts of different scenarios. Then, the agent-based model (ABM) was used in order to reach an agreement with stakeholders on executing different conservation scenarios. The hydro-economic model results revealed that reducing the water demand of the agricultural sector and, as a result, surface and groundwater consumption is possible through following adaptation scenarios. Implementing various adaptation scenarios may alter the present cultivation pattern. Moreover, the ABM results showed a significant difference between the volume of available water, due to the execution of strategies, and water demand, bringing about the lack of farmers’ cooperation regarding the implementation of conservation scenarios. However, through applying some incentive policies, a number of representative farmers may agree to pursue adaptation scenarios.

The purpose of this study is to level the optimal analytical topics for evaluating the cost of petrochemical stock in the capital market. In this study, which was synthetic and inductive-deductive in terms of data collection method, 12 accounting and financial management specialists at the university level participated as panel members in the quality department. In fact, in the qualitative part, which used meta-synthesis and Delphi analysis, the aim was to identify the optimal analytical themes for the valuation of cost-effective stocks and then, in a small section with the participation of 16 petrochemical brokers, to classify the identified statements in the form of a total interpretive structural modelling based on impact priority. Therefore, relying on meta-synthesis analysis, 12 studies were first evaluated as the basis for evaluation to determine the optimal analytical themes of cost-based stock valuation based on critical evaluation, based on which 11 themes were selected propositions and entered into Delphi analysis to determine theoretical adequacy. In this stage, 3 propositions were removed during the two stages of Delphi analysis and a total of 8 analytical propositions of stock valuation were economically entered into the quantitative analysis section, ie total interpretive structural analysis. In this section, the results show the most influential analytical themes of cost-effective stock valuation in the petrochemical industry, two statements of normal stock market price analysis based on the current rated price of "K2" and a focus on the net asset value is "K3", which is at the fourth level of this model.

In addition to imposing a negative impact on public health, Covid-19 has made the world face a huge financial-economic crisis. The worldwide spread of the coronavirus has also affected the volume of transactions and the value of stocks. Since the food market is more affected under crisis conditions, this relationship has been investigated in the stock exchange in the present study. In order to investigate the effect of Covid-19 patients on the stock index value of food industry companies as well as the relationship between risk and stock index value, the official daily data of the Ministry of Health and Medical Education and the Financial Information Processing Center of Iran were collected from March 3, 2021 when the first report was announced, to June 2, 2021. Mean Conditional heteroscedasticityvariance regression models were used in the current study. The statistical model specification tests showed that, first, the assumption of heteroscedasticitywas rejected and the needto useheteroscedasticitymodels was proved. Secondly, the asymmetry assumption was accepted. Model estimation results showed a relationship between the numbers of Covid-19 patients with the stock value of the food industry that was an increase in the number of infected people causes a decrease in the stock value of the food industry. Therefore, like other economic sectors, the capital market was affected by the Covid-19 crisis, and increasing exchange rate as a competing market had a negative effect on the stock price index. Also, considering the relationship between risk and stock value of food industries, as expected, there was an inverse and significant relationship between risk and stock value of food industry companies. In other words, an increase in risk leads to a decrease in the stock price of food industries.