This paper presents an empirical investigation to study the effects of brand power experiences on power of brand in food industry. The study deigns a questionnaire in Likert scale consists of 23 questions, distributes it among 208 randomly selected people who purchase foods from three different food chains in city of Tehran, Iran. Using structural equation modeling, the study has examined the effects of six factors influence the most in our survey including Brand loyalty, Physical attributes, pricing factors, functional characteristics, brand association and brand position. The results of our survey indicate that pricing factors and brand position were the most important influential factors followed by functional characteristics and physical attributes. However, the survey does not confirm the effects of brand loyalty and brand association on brand power.
The primary concern in all portfolio management systems is to find a good tradeoff between risk and expected return and a good balance between accepted risk and actual return indicates the performance of a particular portfolio. This paper develops “A-Y Model” to measure the performance of a portfolio and analyze it during the bull and the bear market. This paper considers the daily information of one year before and one year after Iran & apos; s 2013 precedential election. The proposed model of this paper provides lost profit and unrealized loss to measure the portfolio performance. The proposed study first ranks the resulted data and then uses some non-parametric methods to see whether there is any change because of the changes in markets on the performance of the portfolio. The results indicate that despite increasing profitable opportunities in bull market, the performance of the portfolio did not match the target risk. As a result, using A-Y Model as a risk and return base model to measure portfolio management & apos; s performance appears to reduce risks and increases return of portfolio.
This paper presents an empirical investigation to study the effects of free cash flow, share diversification and capital structure on Tobin-Q in selected firms on Tehran Stock Exchange. The population of the survey includes 520 firms listed on this exchange until year 2012 and the survey uses a sample of 105 firms, randomly. The study uses the models originally developed by Palepu (1985) [Palepu, K. (1985). Diversification strategy, profit performance and the entropy measure. Strategic Management Journal, 6(3), 239-255.] to measure the effects of different factors on Tobin Q. The study has indicated that while capital structure and free cash flow influence positively on Tobin Q, diversification has maintained a negative and meaningful relationship with Tobin Q.
Measuring the effects of various factors influencing on risk of return in banking system plays essential role on making managerial decisions. This paper investigates the effects of seven factors including equities, leverage, dividend, size, growth domestic products, bank concentration and market return on risk of return in selected banks listed on Tehran Stock Exchange. The study selects the necessary data through financial statements announced on exchange as well as macro-economic figures reported by central bank of Iran to examine the hypotheses of the survey. Using some regression technique, the study has determined that only bank size and growth domestic product influence significantly on risk of return on Tehran Stock Exchange.
Recently, the diffusion of the Internet as a retail and distribution channel has undergone a great growth. This paper presents an empirical investigation on the effects of gender differences on online buying. The study explored gender differences among 13 factors concerning the internet buyer. With regard to factors and consistent with Hypothesis and sub hypothesis, differences were detected across genders using t-student tests and the findings were in alignment with the ANOVA test. For data collection and final testing of the E-SAT model a questionnaire was designed and distributed among 100 randomly people who resided in Iran. The analysis show that merchandising, security and company items gained more scores for men than women in online shopping.
Packaging is an important instrument of commerce and trade in the world, it plays essential role in increasing sales and export and thus it maximizes profits generated in enterprises. Hence, the appropriate packaging for the producer generates necessary incentives for production, partly preserves them against zany opponents, and finally provides the customer with much more variety and choosing the right products. Packaging in fact, is a major contributor to the performance of customer relationship management. This survey determines five packaging factors influencing on export development including communications, infrastructure, awareness, design and technical extraction. Through the implementation of principal component analysis, the effective role of packaging components on exports is measured. Exploratory research model indicates that all five packing components were effective in export development of food industry.
This paper presents an empirical investigation to study the relationship between financial structure on profitability and price volatility of banks’ shares, which are operating in Iran. The proposed study considers the information of 21 Iranian banks over the period 2006-2012. Using some regression techniques, the study has determined that there was a negative relationship between leverage and return on assets but there was not any meaningful relationship between leverage and price volatility when the level of significance is five percent. In addition, the study has determined that there was a positive relationship between equity ratio and return on assets and there was a positive relationship between equity ratio and price volatility when the level of significance was five percent.
After financial crisis in 2008, the effect of crisis spread in the world. Many countries were affected quickly and others slowed in a particular mechanism. Using data of TEPIX from Tehran Stock Exchange and DJI from New York stock Exchange as the main indexes of these two markets, this paper reported strong evidence of TEPIX’s dependency on DJI after the crisis in a four-week delay. The index level series were non-stationary; therefore, we employed cointegration analysis and error correction vector autoregressions (VAR) techniques to model the interdependencies. To find the best lag time we used a heuristic method and the results surprisingly were the same as the result of applying a VAR model. The results support the hypothesis that financial stress was transmitted from the U.S to Iran primarily through trade and price channels.
This study aims to determine the relationship between the capital structure and economic value added. In this context, the rates of total debt to total asset, total current debt to total asset, total long debt to total asset and total debt to total equity are distinguished as the measures of capital structure. The data used in this study consisted of a sample of 133 companies listed in Tehran Stock Exchange from 2008 to 2012. To analyze the data and to perform hypothesis tests, a linear regression model, based on combinatorial methods or data panel, and also a nonparametric Spearman correlation analysis have been applied. The results of the research hypothesis tests based on regression analysis revealed an insignificant relationship between capital structure and economic value added. Furthermore, the results showed that, there was an inverse moderate relationship between rate of total debt to total asset and total current debt to total asset with economic value added. There is an inverse weak relationship between rate of total long debt to total asset and total debt to total equity with economic value added.
This paper presents an empirical investigation to study the effect of real earnings management on audit fees in selected firms from Tehran Stock Exchange. The study gathers the necessary information from selected stocks listed in Tehran Stock Exchange. The proposed study uses the information of 63 firms over a four-year period from 2009 to 2012, which leaves us to have 252 data. Using some regression study, The study has confirmed real earnings management influences positively on audit fees in general. In addition, while real earnings management through an increase in sales does not influence on audit fees, the survey has concluded that real earnings management through increase in production costs as well as decrease in discretionary expenditures influences positively on audit fees.