محمد علیپور

Background: Many investment decisions are not only affected by economic indicators and rationality, but also categories such as work experience, social responsibility, risk, investor self-confidence, etc. affect investor’s behavior and their decisions. The main purpose of this study is to present a financial behavior model based on psychological and moral factors. Method: The present study was mixed. In the qualitative part, the Delphi technique was used. The statistical population of all experts and managers of brokerages, investment funds, investment portfolios, traders and analysts had professional qualifications and high experience, of which 12 people were considered as snowball technique as a sample. It was an interview tool and finally the data were analyzed by fuzzy Delphi method. In a small part, the descriptive-survey method was used. 287 members of the investor community were considered as a sample. A questionnaire was used to collect data. Finally, using AMOS software, confirmatory factor analysis and structural equation design were investigated. Results: Finally, the analysis model in this study was approved. Based on the importance of investors' behavior and the importance of moral and psychological characteristics in the capital market, it was shown that the expected return formed has a direct effect on the psychological characteristics of optimism, distrust, risk aversion and emotion, as well as ethics. It was also shown that psychological and moral characteristics affected turnover, trading volume, risk sharing, risk appetite. In addition, one of the most important results is a combination of behavioral factors (optimism, overconfidence, emotion, risk aversion and ethics) and market efficiency (trading volume, turnover, risk appetite and risk sharing). Conclusion: The obtained results indicate the effect of emotional and psychological and moral characteristics and characteristics on the behavior of investors and is important to drive the market towards rationality and on the other hand as a basis for designing investment strategies for investment managers.

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 investment 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 presented. A partial integral differential equation is derived and the impact of parameters 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.

This study compares metadiscourse markers in result and discussion sections of literature and engineering research papers. To this end, 40 research articles (20 literature and 20 engineering) are selected from two major international journals. Based on Hyland’s (2005) model of metadiscourse, the articles are codified in terms of frequency, percentage, and density of interactive and interactional markers found. The two corpora are compared to see to what extent the genre of lectures are different. Data are analyzed through Chi-square and the results of the quantitative analysis reveal significant cross-linguistic differences for overall frequency of metadiscourse except for frame markers and boosters. 

Using rhetorical figures in specialized languages like the language of newspaper headlines is common. The present study attempted to conduct a contrastive analysis of the English and Persian sport newspaper headlines related to the 2014 FIFA World Cup. Toward this end, a corpus consisting of 400 English and 400 Persian headlines published during 12th of June to 13th of July, 2014 was collected. The framework developed by Lapsanska (2006), including phonological, lexical and morphological, syntactic, and semantic aspects, was employed. The frequencies of the use of sub-variables were calculated and chi-square tests were administered to determine whether the differences in the use of linguistic means between the two languages were statistically significant. The results showed that English and Persian sports newspaper headlines were similar in the use of rhythm and metaphor. However, they were generally different in four aspects particularly in the use of alliteration, foreign words, idiomatic constructions, formation of new words and phrases, hyperbole, phrase, and personification. The results can have pedagogical implications for journalism students, English for specific purposes (ESP) students, teachers, and translators.