Transactions on Quantitative Finance and Beyond

The purpose of this research is to design a profit maximization model for companies using the theory of constraints. To collect information, library and field studies were used, according to the method of data collection, documents, interviews and questionnaires were used, so the current research method is mixed (qualitative and quantitative). The statistical population of the research in the qualitative part included experts, professors and specialists in the field of management accounting, 10 of whom wereselected by snowball sampling until theoretical saturation was reached, and primary data were collected through interviews and a questionnaire was designed. A questionnaire was included in the quantitative part as well. All managers and assistants of the finance and accounting departments of manufacturing companies admitted to the Tehran Stock Exchange were an unknown number. According to Cochran's second formula, 385 people were selected by available sampling. A questionnaire with 78 questions was used tocheck the research variables. Cronbach's alpha coefficient confirmed the reliability of the questionnaires, 10 interviewees confirmed the content validity of the questionnaires, and their construct validity was confirmed by confirmatory factor analysis. Then, the data obtained from the questionnaire was analyzed in two sections: descriptive statistics and inferential statistics. In the section on inferential statistics, the Kolmogorov-Smirnov test was used to check the type of data distribution in terms ofnormality or not, and then confirmatory factor analysis by LISREL 8.80 software. In order to check the construct validity of the questionnaire and to test the structural equation model with the help of Lisrel SmartPLS.03 software, it has been used to answer the research questions. The most important findings of the research showed that the components of identifying the limits of profit maximization, exploiting the limits of profit maximization, spreading the effect of profit maximization decisions, removing system limitations, and the process of continuous improvement of profit maximization, respectively, with a path coefficient of 0.41, 39 0.0, 0.43, 0.37, 0.40 have a positive effect on the theory of limitations

The purpose of this study is to investigate the impact of digital transformation on audit efficiency in companies listed on the Iranian capital market. Audit delay is used as a key measure to evaluate audit efficiency. To assess digital transformation, an index based on the frequency of keywords related to digital technologies, such as "Internet of Things," "Artificial Intelligence," "Cloud Computing," and "Big Data," in annual reports of companies is calculated. Control variables include company size, financial leverage, board independence, ownership concentration, Return on Assets (ROA), company losses, and CEO duality.This research is applied and descriptive survey in nature, and data were collected from financial reports of companies listed on the Tehran Stock Exchange between 2018 and 2022. Data analysis was performed using linear regression and the Eviews software, with the study adopting a panel data methodology.The results indicate that digital transformation negatively affects audit efficiency, leading to increased audit report delays. Additionally, companies with higher levels of digital transformation experienced more significant audit delays. These effects were particularly evident in firms with higher financial leverage and lower ownership concentration.This study highlights that digital transformation presents new challenges for the auditing profession, emphasizing the need for enhanced skills and the adoption of relevant technologies in the audit process

It aims to understand and improve how companies perform, which is influenced by the ability managers have; therefore, the aim is to examine the impact of managerial ability on firm performance. For the present study, three hypotheses were formulated. In order to test these hypotheses, a linear regression model has been used. The statistical population consisted of 117 companies listed on the Tehran Stock Exchange during the years 2013 to 2022 (1170 firm-year). The Data Envelopment Analysis (DEA) model [1]was used to assess managers' capabilities. In addition, three criteria were used to assess the performance of companies: Qtobin stock return and true accounting performance. The research results indicate that there is no significant relationship between managers' ability and the company's Return(RET). However, there is a significant relationship between managers' capabilities and the Qtobin-based performance (QT) of the firm. In addition, there is a significant relationship between managers' ability and the True Accounting-based performance (TA) of the firm. An important aspect of managerial ability is the ability to adapt andinnovate in response to environmental and market changes. Studying these aspects can help to identify the best management methods and strategies, which in turn can improve management knowledge and increase productivity in companies

Thispaper first reviewed the relevant literature and several R&D evaluation models in various industries. Then, a suitable model for the evaluation of R&D capabilities was selected through a New Product Development (NPD) approach within the Iranian automotiveindustry in 9 main dimensions and 29 indicators, validated based on the structural equations proposed in another paper. In the first stage, the coefficient matrix of criteria was identified according to the pairwise comparison matrix. Then, the VIKOR values S, R, and Q were calculated. The ranking involved smaller Q values. The criteria were ranked as follows: 1) research and design capabilities, 2) customer and market, 3) technological capabilities,4) financial capabilities resources, 5) organizationalstructure, 6) intellectual capital capabilities,7) NPDprocess, 8) management capabilities and, 9) strategic capabilities. Finally, there were suggestions about the capabilities falling under the lowest ranks

Management is an effective and goal-oriented process that guides an organization. This guidance involves five sequential functions: planning, organizing, leading, coordinating, and controlling and evaluating. The fundamental knowledge of management, or the management process, has been present even in ancient civilizations such as those of the Iranians, Egyptians, Sumerians, and others. In Islamic civilization, we have had grand and civilizational management systems. Today, the successful implementation of an HSE (Health, Safety, and Environment) management system depends on the participation of all employees. Given that job satisfaction can influence employee performance, this study aims to model the relationship between job satisfaction and the HSE performance of Pars Oil and Gas Company employees. The statistical population of this research consists of all employees of Pars Oil and Gas Company (N = 5300). Using Cochran's formula and simple random sampling, 360 employees were selected as the sample. The data collection tool was a questionnaire, and to ensure its validity, the opinions of several university faculty members were used. Cronbach's alpha coefficient was applied to confirm the reliability, yielding values of 0.79 for job satisfaction and 0.83 for HSE performance. The results indicate a positive and significant relationship between job satisfaction and HSE performance (P-value < 0.01). The regression results show that, in two steps, the indices of job natureand security and safety, which had the highest impact on HSE performance, were included in the analysis. In the first step, the job nature index explains 59% of thevariance in the response variable (HSE performance), and in the second step, with the inclusion of the security and safety index, this figure increases to 63%

One of the techniques for evaluating a supplier's sustainability is Data Envelopment Analysis (DEA). DEA is a non-parametric tool for measuring the relative efficiency of Decision-Making Units (DMUs). This paper develops a new double frontier DEA model based on the Slacks-Based Measure (SBM) for assessing suppliers' sustainability. Our proposed double frontier SBM model considers pessimistic and optimistic efficiencies. A case study is presented to demonstrate the applicability of the proposed model. The results show that the proposed model can completely rank the DMUs, and there is no tie between the overall efficiency scores

The success of economic programs, with the company's strategy, is an integrated and coordinated set of interventions and programs that are used to exploit core competencies and gain competitive advantage. So people in an organization are important assets that are able to convert from visible assets into optimal productive resources to meet the needs of the organization. Therefore, this article attempts to propose the interaction of two priority and effective categories on the performance of the organization, namely strategic management of human resources and supply chain management, by setting strategic priorities and indicators of interest in them by providing a syntactic scientific model and framework. Based on this, with the help of hypercompilation, he analyzed the variables of reliability, flexibility, social contexts, skill contexts, emotional conditions, level of maturity and individual maturity in the form of a conceptual model, which analyzed the hypotheses extracted from it showed that the issues examined in the field of strategic human resource managementhave a meaningful relationship with the strategic bias of the supply chain in economics and finance. The most important strategies for conveying a sense of commitment to continuous interaction between the supplier and the successful human resources and creating an independent personality for the set of efficient suppliers were counted by human resources

One of the biggest risks in the economies of countries is the bankruptcy of industries and companies. Predicting the bankruptcy of companies and industries provides the opportunity for the government, investors, and shareholders to take strategic actions to deal withcrises and prevent potential losses. From an economic perspective, financial distress can be interpreted as the company being loss-making, in which case the company has failed to succeed. In fact, in this case, the company's rate of return is less than the cost of capital. Another form of financial distress occurs when the company fails to comply with one or more of the debt covenant terms, such as maintaining the current ratio or the special value ratio to total assets according to the contract. Therefore, there is no general agreement on the definition of financial distress, and the reasons that lead companies towards failure are very different. One possible reason for failure is the wrong direction ofthe company, which can be analyzed through the financial ratios of the companies. Since the 1960s, many studies have only examined financial ratios as indicators of failure. Therefore, the analysis is the basis for improving and developing failureprediction models. In this study, the influential variables in predicting bankruptcy were first selected using backgrounds. The most important factors were identified with the opinions of experts, and the weight of each criterion was obtained using the AHP technique. Then, these criteria were ranked using the TOPSIStechnique to identify the most important factors. After completing these steps, by entering these variables into an artificial neural network of the multilayer perceptron type as input and using the backpropagation algorithm to train the network, the prediction accuracy increased, and accurate and reliable results were obtained

Macroeconomic factors significantly influence a country's economy and financial markets, thereby playing a pivotal role in the development of financial products. The PESTEL framework serves as a comprehensive analytical tool to examine the impact of political, economic, social, technological, environmental, and legal factors in identifying opportunities and threats for financial product development. This study utilizes the PESTEL model to analyze the impact of macroeconomic factors on the evolution of financial products and explores the associated opportunities and challenges. The research investigates macroeconomic factors such as interest rates, inflation, economic growth, political stability, societal changes, technological advancements, growing environmental consciousness, and regulatory frameworks. Data were collected from reliable secondary sources and analyzed using qualitative content analysis. Findings indicate that political stability and government support for financial innovation can foster the development of new products. Conversely, political instability and unexpected regulatory changes pose significant threatsto financial firms. Economic conditions like interestrates and economic growth exert a substantial influence on market demand and access to capital. The results suggest that lower interest rates and economic growth create favorable opportunities for financial product development.Furthermore, evolving consumer needs and preferences, coupled with technological advancements, particularly in fintech, are transforming financial processes and customer experiences, enhancing efficiency, and improving customer satisfaction. Additionally, the increasing focus on environmental issues has driven demand for green and sustainable financial products. This research recommends that financial managers and policymakers analyze and understand these factors tocapitalize on emerging opportunities and mitigate risks by adapting to environmental and technological changes. Future research can delve deeper into the intricate relationships between these factors through a more international perspective

This study investigates the role of digital financial services in enhancing innovation within Iranian sports companies. The research follows a descriptive survey method with a quantitative approach and employs Structural Equation Modeling (SEM) for data analysis. The statistical population includes senior managers, financial managers, and IT managers of sports companies, as well as financial and technology experts in sports clubs and startups. The sampling method was stratified random sampling, and the sample size was determined as 200 participants using Cohen’s method, considering 10 latent variables in the model. Data collection was carried out through two standardized questionnaires with validated content and face validity confirmed by experts. Reliability was assessed using Cronbach’s alpha. The first questionnaire, digital financial services assessment, consists of 15 items across five components (digital financial technology infrastructure, digital payment services, digital banking, digital investment, and digital financial innovation).The second questionnaire, Innovation Assessment in Sports Companies, includes 15 items across five components (product innovation, process innovation, organizational innovation, marketing innovation, and strategic innovation). The Cronbach’s alpha scores were 0.899 for innovation and 0.794 for digital financial services. The findings reveal that digital financial services have a significant impact on various dimensions of innovation, including product, process, organizational, marketing, and strategic innovation. These services enhance transparency, reduce costs, and improve access to financial resources, thereby alleviating financial constraints and fostering innovation capabilities within sports companies

This research investigates the impact of inventory management on company performance, specifically focusing on Return on Assets (ROA) andReturn on Equity (ROE) across different life cycle stages. Utilizing panel data from 192 firms listed on the Tehran Stock Exchange over the period from 2019 to 2023, the study employs regression analysis to explore these relationships. The findings reveal significant influences of inventory management on financial performance metrics. Notably, while effective inventory management enhances ROE, its relationship with ROA is more complex, indicating potential inefficiencies in larger firms. Specifically, a one-unit increase in inventory management correlates with a decrease in ROA but positively affects ROE. The analysis further shows that during growth and maturity phases, there is a statistically significant negative relationship between inventory management and performance metrics, whereas a positive relationship is observed during the decline phase. Additionally, control variables such as financial leverage consistently demonstrate negative correlations with both ROA and ROE. This study contributes valuable insights into the intricate dynamics between inventory management and company performance across various life cycle stages

This research aims to study agency costs and tax planning, emphasizing the moderating role of government ownership. Taxation, as the primary means of raising revenue, can help governments achieve their macroeconomic objectives. Paying taxes is one of the most important tasks citizens can perform to provide financial resources for social welfare. In addition, politically connected companies have an opaque operating environment due to government support, resulting in more significant conflicts of interest and higher agency costs. To achieve this purpose, two hypotheses were formulated. To test these hypotheses, a sample of 142 companies was selected from the companies listed in the Tehran Stock Exchange during 2014-2023. A multivariate regression model was applied using the panel data method. The results of the research hypotheses indicate that agency costs and tax planning have a positive and significant relationship. The results also suggest that government ownership does not affect the relationship between agency costs and tax planning