Bahar Azimi Doosti; Abdolhosein Karampour
Volume 3, Issue 3 , August 2017, , Pages 145-152
Abstract
his study aims to offer a model of propensity toward indebtedness using behavioral factors from 384 indebted customers of Maskan bank in Tehran. A questionnaire comprising 41 questions was administered. The questionnaire addressed demographic variables and seven behavioral factors: financial literacy, ...
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his study aims to offer a model of propensity toward indebtedness using behavioral factors from 384 indebted customers of Maskan bank in Tehran. A questionnaire comprising 41 questions was administered. The questionnaire addressed demographic variables and seven behavioral factors: financial literacy, risk perception, risk behavior, emotion, materialism, indebtedness, and money-related values. The hypothesis test of Path Analysis used in this study shows that all of the offered hypothesis were accepted.Results show that financial literacy, risk behavior, money value and materialism have positive impact on propensity toward indebtedness. Risk perception has a negative impact on propensity toward indebtedness that means by increasing of risk perception propensity toward indebtedness decreases. The relationship between negative emotions caused by indebtedness have negative impact on risk perception but positive impact on risk behavioral. Money values has positive impact on materialism and finally, indebtedness shows negative impact on emotions. This means that increasing in debt levels will results in increasing negative emotions. The tests don’t reveal a significant difference in the level of debt according to demographic factors including gender, age, education, occupation and income.
Hamidreza Taherian; Abdolhosein Karampour
Volume 3, Issue 3 , August 2017, , Pages 167-172
Abstract
The purpose of the present paper is that of researching the impact of corporate governance on financial performance, on a sample of 3 companies (Tamin Petroleum & Petrochemical Investment Co., Persian Gulf Petrochemical Industries Company and Parsian Oil and Gas Development Group), mainly from the ...
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The purpose of the present paper is that of researching the impact of corporate governance on financial performance, on a sample of 3 companies (Tamin Petroleum & Petrochemical Investment Co., Persian Gulf Petrochemical Industries Company and Parsian Oil and Gas Development Group), mainly from the chemical industry area, listed at Tehran Stock Exchange index, during the period 2011-2016. In this study the return on assets (ROA) is the proxy of financial performance. As variables for the corporate governance there have been considered: the characteristics of the board of directors (independence, salary, size, tenure, age and Risk Committees); firm size; the shareholder structure (the shares of institutional investors); the characteristics of CEO (duality) . The estimation techniques used in the empirical analysis have been multivariate regression models based on the method of econometric data based on the relationship between independent and dependent variables using software Eviews8. The results show that the percentage of institutional investors, the salary Board of Directors, the Risk Committee of the Board of Directors and the Board of Directors size have a positive and significant effect on the financial performance of companies listed on Tehran Stock Exchange chemicals industry.