مطالب

This research conducts a comparative study of the foundations of legitimacy and the nature of the state in the political thought of Ayatollah Seyyed Mohammad Baqir al-Sadr, focusing on his key works such as al-Islam Yaqud al-Hayah (Islam Guides Life). It contrasts his thought with the teleological political philosophy of Georg Wilhelm Friedrich Hegel—who views the state as the manifestation of "Absolute Spirit"—and the deconstructive genealogy of Michel Foucault, who understands the state as a mechanism of "Power/Knowledge." The main challenge addressed here is comparing Sadr's conception of appointive and divine legitimacy, which operates through "the Ummah's caliphate" and "the supervision of religious authority," with Hegel's rational and historical legitimacy. Additionally, the research examines Foucault's critical analysis of how religious and jurisprudential institutions such as the Zone of Silence are transformed into instruments of governmentality and biopolitics in the modern Islamic state. The findings reveal that Sadr's effort to reconcile popular acceptance with divine legitimacy i.e., the theory of "Atmosphere of Infallibility" faces fundamental challenges when confronted with Hegel's logic of rational despotism which claims itself to be the very truth and Foucault's instrumental logic which subordinates all knowledge to power.

nationalism as a school of thought was one of the most important and influential intellectual currents affecting the political and social sphere of Arab societies in the twentieth century. By influencing contemporary Arab political thought, this movement prompted a rethinking and reorganisation of the fundamental policies and orientations of certain Arab states, as well as the adoption of specific policies with defined objectives, the most important of which were Arab unity and liberation from colonialism. Nasser and Gaddafi, the leaders of Egypt and Libya, were among the most prominent leaders who embraced the ideology of Arab nationalism in the twentieth century and sought to operationalise it within the actual context of Arab society. In order to realise the goals of Arab nationalism, these two Arab leaders, while modifying their countries' domestic and foreign policies, provided the necessary grounds for its popular acceptance. Recognising the necessity and importance of examining the issue of Arab nationalism and the possibility of reviving this intellectual and political current in the future, the author has investigated its roots. In this regard, while elucidating the concept of Arab nationalism, the study examines its intellectual and political origins as well as the foundations and principles of this school of thought. Subsequently, adopting an analytical-comparative approach, the study examines and compares the experiences of the two Arab leaders who were standard-bearers of Arab nationalism in the twentieth century—namely Nasser and Gaddafi—and discusses the successes and failures of their nationalist policies.

"Banks accumulate assets that require efficient and profitable management to ensure their viability as going concerns. Current asset portfolio management involves strategic asset allocation, diversification, and rebalancing within predetermined limits. In the Iranian economy, commercial banks are central to the financial system, playing a critical role in financial intermediation. This study investigates the impact of various current asset components, including cash balances, interbank deposits, private sector financing, investments in stocks and other securities, customer demand and savings deposits, and customer term investment deposits, on the performance of selected Iranian banks. The systemic Generalized Method of Moments (SYS-GMM) was utilized to estimate these relationships. The target population consisted of active Iranian commercial banks with publicly available financial statements. Data were sourced from official financial reports published by independent auditors for the period 2009 to 2024.The first regression model reveals that a bank’s Capital Adequacy Ratio (CA) is positively self-regressive, indicating an increase at a similar rate in the subsequent year. While customer investment deposits exhibited a negative effect on CA, interbank deposits, bank cash balances, the volume of facilities extended to the private sector, and Return on Assets (ROA) all demonstrated significant positive effects. The second regression model indicates that a one percent increase in ROA in one period leads to a 0.6 percent increase in the subsequent year. Furthermore, customer demand and Qarz al-Hasana savings deposits, along with the CA ratio, positively influence ROA, whereas banks’ investments in stocks and other securities showed a negative effect. Finally, the study concludes with relevant policy recommendations for bank managers."

This study investigates the impact of oil revenue and liquidity shocks on optimal monetary policy in the Iranian economy using a Dynamic Stochastic General Equilibrium (DSGE) model. The developed model simulates the structure of Iran’s economy, emphasizing the interactions among households, firms, the government, and the central bank, while analyzing the effects of both domestic and external shocks. Simulation results indicate that these shocks significantly affect macroeconomic variables. Furthermore, increasing the weight of inflation control in the monetary policy function reduces the negative impacts of shocks on output and stock indices, although such control exerts additional pressure on the interest rate, potentially producing diverse consequences. The findings reveal the existence of complex and multidimensional relationships between shocks and monetary policy, underscoring the necessity of precise management of these interactions for economic stability. Accordingly, policymakers should maintain macroeconomic stability while balancing inflation control and production support. Through both quantitative and qualitative analyses, this paper contributes to a deeper understanding of Iran’s economic processes and the formulation of optimal policies under exchange rate volatility conditions.

Management ability can be considered a factor in creating a balance between the information dimension of credit contracts between the company and financial resources providers. The purpose of this paper is to examine the limitations of debt contracts based on management ability. In this study, information related to 120 listed companies was collected during the period 2016 to 2023 and the research hypotheses were tested using a mixed regression approach. The findings of the study show that manager ability has a significant effect on the dispersion of interest rates on facilities received. Also, the results indicate that manager ability leads to a reduction in contractual limitations. Finally, the results show that management ability leads to the use of a short-term financing approach. Higher management ability can lead to more favorable loan terms by signaling favorable future performance of the company and increasing information transparency. In other words, capable managers are more efficient in converting company resources into income, and as a result, they improve the company's future performance and cash flows and reduce expected risk.