Iranian Market Research Articles

A Game Theoretic Approach in Bidding Strategy in Iran Wholesale Electricity Market

In this paper, we consider bidding behavior of producers in wholesale electricity market in Iran. Participating in a day ahead pay-as-bid electricity auctions for Generator Companies with purpose of profit maximization in spite of market regulation constraints is taken into account. Since bidding functions are restricted to be stepwise with maximum of ten steps per unit in each hour, we ask whether increasing steps will improve the Ex Ante profit of firms or not. Finally, in order to evaluate rationalities in bidding behavior of the market participants, our results are compared with outcomes of real bidding data.

Spatial analysis on the recreation of wool retail spaces in Iranian markets (case study: Tabriz Grand Bazaar)

PurposeThe purpose of this paper aims at the spatial analysis of the Rastas dealing with the wool market to revise the production resulting in a recreation of spaces and the pathways based on its high economic–commercial role.Design/methodology/approachSecondary resources and direct observations through field research were the two critical methodological steps for this paper based on phenomenology and qualitative approaches.FindingsThe results represent that the usage of past experiences is the most effective solutions for activities relying on manufacturing inside the workshops leading to improvement in functional objectives of Bazaar. Integration between diverse institutions, precise planning regarding the creation and restoration of past and new jobs and organizing the exhibition of recreational spaces contributing to development regarding public attraction and strengthening the spatial relationships between production, representation and service. Indeed these mentioned steps will provide multifunctional space with a priority of production and reproduction useful on a recreation of urban life.Originality/valueThis study fulfils to examine the important of the bazaar (Iranian market) and recreate its manufacturing, service and economic processes.

United States Economic Sanctions on Iran and Their Impacts on the Middle Eastern Art Market

The United States’ sanctions on Iran have limited the Iranian art market’s connections with the international art network. Galleries try to compensate for such limitations through online marketing and exhibition. Thus, the sanctions not only impact the form of marketing exerted by dealers but also directly influence the type of artistic production. Such changes also reshape the art market in the Arab states. The transition from tangible to intangible has become a strategy for the regional market to bypass the sanctions and develop business with the global collectors and institutions. A quantitative analysis was used to demonstrate the impact of the sanctions on the art market in Iran and the United Arab Emirates. This analysis examined all exhibitions in 12 commercial galleries in Tehran and Dubai from 2009 to 2019, statistically assessing the index of changes over this period and calculating the variations, particularly during the years of intensified sanctions. The study indicates how the propensity of galleries for a digitally networked economy is becoming a solution to reduce the impacts of the sanctions in order for the galleries to maintain their clientele of international collectors and dealers.

Method validation and determination of caffeine in drinks in the Iranian market by the HPLC

Method validation and determination of caffeine in drinks in the Iranian market by the HPLC

Metal Risk Assessment Study of Canned Fish Available on the Iranian Market.

Iran is the largest fishery producer in the region reaching nearly 1 million tons. Fish provide a good many nutrients that are beneficial for our health. Due to significant deposits of xenobiotics in the water environments, however, fish may also be a source of non-essential metals, causing a variety of disorders. The main challenges to Iranian fisheries are environmental pollution and quality control, so this study aims to estimate the concentration of cadmium (Cd), mercury (Hg), nickel (Ni), and lead (Pb) in canned tuna fish produced and consumed in Iran. We studied four popular brands (N = 4 × 20) with ICP-MS and then looked at the concentrations and calculated the risk assessment parameters. We found that the lowest concentration was observed for Cd (18μg/kg) and the highest for Ni (132μg/kg). Among the brands studied, Pb concentrations differed most (42.0 to 113.3μg/kg) and Hg levels were more consistent (24.0 and 39.4μg/kg). The concentrations of Cd, Hg, and Pb in all the brands tested were below EU permissible thresholds. The intake estimation risk assessment parameters (EDI, contribution to PTWI, and CR) and non-cancer risk assessment parameters based on reference doses (THQ and HI) demonstrated the safety of tested products in respect to all metal concentrations studied, while the parameters regarding the toxic effects (MoE, and ILCR) showed that the consumption might cause health risks in terms of Cd (ILCR), Ni (ILCR), and Pb (MoE). The consumption of the canned fish studied should therefore be maintained at a reasonable level (2-5 meals containing fish weekly), so that it may provide necessary nutrients, while avoiding the health risk due to metal content.

The Impact of Intellectual Capital on Corporate Economic Performance in Iran in the Face of Sanctions

This study aimed to investigate the relationship between intellectual capital and economic performance in Iran in the face of sanction. The period of the study will fascinate other scholars about this paper because there were unprecedented sanctions against Iran market and many manufacturing industries were in financial distress. The paper sample consists of 543 observation and 109 firms listed on the Tehran Stock Exchange during a five-year period. We used OLS and panel regressions to test the research models. We find that intellectual capital and each of its elements have a positive and significant effect on economic performance in Iran in the face of sanction. This means that the higher level of intellectual capital in a company in Iran lead to the better economic performance in the face of sanction.

Audit Committee Features and Earnings Management in Iran

This study aimed to investigate the relationship between audit committee features and the types of earnings management in Iran.The study population consists of 550 observation and 110 firms listed on the Tehran Stock Exchange during a five-year period between 2014 and 2018. The statistical model used in this study is a multivariate regression model; further, the statistical technique used to test the hypotheses is panel data.The results indicated that there was a significant relationship between the financial expertise of the audit committee members and the size of the audit committee with the accrual earnings management while there was no significant relationship between any of the audit committee features and real-based earnings management. In addition, it was found that there was no significant relationship between the audit committee’s independence members and accrual earnings management. This is one of the most comprehensive research works in Iran that simultaneously surveys the impacts of audit committee features on earnings management. This research warns investors and stakeholders to pay more attention to the importance of audit committee features to limit the opportunities of earnings management. Surely, by understanding the relationship between audit committee features and earnings management, investors and stockholders will be able to make appropriate decisions about the optimal choice of funds. This paper illustrates the effect of audit committee characteristics on audit committee performance in limiting earnings management opportunities. In addition to, the period of the study will fascinate other scholars about this paper because there were unprecedented sanctions against Iran market and many manufacturing industries were in financial distress. The paper will make aware investors and stakeholders of this fact that existence of a powerful and expert audit committee will be a good way in reducing the earnings management problems in emerging markets, particularly those markets face financial sanctions like Iran.

The effect of the ratio of lending to deposits with capital adequacy ratio the banks listed on the stock market in Iran

Objective: Capital is one of important and essential factors in evaluating healthy and sustainability in banking system and in order that adequate capital basis can address wide range of risking which every bank faces. Methodology: A brief review of banking theory implies empirically that all different aspects of banking organization were influenced by available capital and expected possible return directly or indirectly. Capital operates as a shield against decreasing of asset value or increasing bank debts. The relation between capital adequacy and banking and also economic factors has a considerable importance. A plenty of universities and financial institution have tried to identify the main factor of determining capital adequate ratio.in this term, in recent studies these questions have been issued to determine as is there any positive and meaning relation between fund ratio to depositing on legitimate banking capital adequacy in Tehran commercial paper and Iranian over the counter OTC)? And also any positive or meaning relation between banking asset return on capital adequacy ratio in commercial paper exchange market? Therefore in terms of finding a solution for issued matter, some assumptions were implied based on determined relations. Results: Considering static population was included all acceptable bank in exchange market in during of 1388 to 1392 and any sampling haven’t been determined. So 15 acceptable bank were selected as a sample in this article.it is better to mention a cross multi – factors model was designed to be examined codified assumption by using synthetic data. Conclusion: And achievable results shows there aren’t any positive or meaning relation between paid fund on depositing and acceptable banking capital adequacy in Tehran exchange commercial paper and OTC.

Concentration and health risk assessment of polycyclic aromatic hydrocarbons in commercial tea and coffee samples marketed in Iran.

The aim of the current study was to evaluate the probabilistic health risk and the concentration of 16 polycyclic aromatic hydrocarbons (PAHs) in commercial tea and coffee samples. For determining the mentioned contaminants in sixty-four samples, a reliable and sensitive technique was validated and developed. The technique is established on magnetic solid-phase extraction and gas chromatography-mass spectrometry analysis (MSPE/GC-MS). The maximum mean of ƩPAHs in coffee samples was 13.75 ± 2.90 μg kg-1, while the minimum mean ƩPAHs in tea samples was 4.77 ± 1.01 μg kg-1. The mean concentration of benzo(a)pyrene (BaP) in samples ranged from 0.64 to 2.07 μg kg-1 which was lower than that of standard levels (10 μg kg-1) established by the European Union (EU). The Monte Carlo simulation results showed that the actual target hazard quotient (THQ) for the adult and children was equal to 1.63E-04 and 1.67E-04, respectively; hence, non-carcinogenic health risk for consumers is negligible. The result of actual incremental lifetime cancer risk (ILCR) was lower than the limits of safe risk (1E-4), indicating no notable possibility of cancer risk due to the digestion of tea and coffee for children and adults. Therefore, it can be concluded that the amount of contamination of popular commercial coffee and tea available in the Iranian market with PAHs is often similar to that found in other countries and was lower than the standard of EU. Thus, the processing conditions of these products must be controlled to prevent the formation of PAHs due to the suspicion of carcinogenicity and mutation.

An Evaluation of the Influence of Environmental, Social and Cultural factors on the Socialization of Traditional Urban Spaces (Case Study: Iranian Markets)

The ‘bazaar’, or the marketplace has been one of the most influential bases of the city in terms of social, political and economic development, and is considered as an active public space for initiating fundamental changes in society. Across Islamic cultures and civilizations, as well as their historical precedents, the marketplace has occupied a broad and complex social meaning, especially in Iran. In this research, the marketplace is considered from a socio-commercial point of view. In order to improve the efficiency of public spaces, it is necessary to identify their effective parameters of socialization, and utilize them towards the future design or improvement of built environments. While the socio-cultural influence of a bazaar determines the development of human relationships around it, its environmental components are also effective in responding to ‘physical needs’ of a populace, that is, the provision of necessities such as food and clothing as well as repair services. The relationship between environmental, social and cultural elements is found to be the most influential factor in increasing the sociality of the public space. In order to analyze bazaar socialization, the research methodology employed in this article comprises a descriptive survey that uses Delphi and Q methodology. According to the results, six key factors were identified: activity-behavioural-movement (ABM) components, physical-functional qualities, enviornmental impacts, physical components (PCs), cultural values (CVs), social cohesion and integration, diversity and spatial attraction. Crucially, the study also finds that the socialization of space is formed through the interaction between human experiences in place and the prevailing cultural forms within it, that is, the regional customs, traditions and overall ‘way of life’ of the native populace. Therefore, the cultural features of urban spaces are another important factor in their development. Studying these factors opens the possibility for facilitating greater levels of interaction and participation in public spaces in a manner that also accommodates different groups of people and their varying subcultures.

The impact of sanction and healthcare system reform on the healthcare performance and pharmaceutical market in Iran; 2001-2016

BackgroundIranian government has introduced multiple healthcare system reforms during the last 30 years aiming at improving accessibility and affordability of care. Pharmaceutical products are one of the major sources of financial burden on the healthcare system. The healthcare system and pharmaceutical sector have been balanced out by the partially counteracting effects of the HSEP (Health sector evolution plan) and the imposed sanctions.MethodsThis research investigates the healthcare system performance as well as the pharmaceutical market trend mostly based on the financial criteria from 2001. The correlation between the two change patterns was studied to understand the underlying driving market forces.ResultsDuring 2001 to 2013, total health expenditure has grown 25.6% in average. THE (Total health expenditure) share of the GDP remains between 6-7%, while the out of pocket payment has dropped to 37% in 2015 from 57% in 2001, and most health services been directed to the inpatient facilities. Iranian pharmaceutical market has grown rapidly in recent years and grew 28.38% per year and drug consumption per capita reached 34.43$ from 2.28$. However, the import drove most of the market expansion. Noteworthy, the share of pharmaceuticals from THE has also increased.ConclusionsIt is concluded that the sanctions and HSEP have enforced partially counteracting forces on the pharmaceutical market to maintain its consistent growing trend.

A Commentary on the Drug Addiction Treatment Market in Iran

A Commentary on the Drug Addiction Treatment Market in Iran

A business environment analysis model for renewable solar energy

With the reduction in fossil fuels and their environmental impacts, the use of solar cells as green energies in various countries is expanding. It is certainly neither effective nor necessarily possible to generalize a single specific model for different countries considering their different conditions. Therefore, this study, with the aim of providing a business environment analysis model for the third-generation solar energy market in Iran, first, used a systematic search by using the meta-synthesis method to extract important factors. Thirty-four variables in eight dimensions were found to be effective in the solar energy business in Iran. Then, an interpretive structural modeling was provided to derive a priority diagram. Finally, the causal graph and the stock and flow diagram were drawn and the behavior of the variables was examined under three scenarios. The results indicated that using solar cells to generate electricity is economically efficient in the long run and can help to protect the environment.

Safety Factors of Oils Marketed in Iran and Applicable Strategies in Control of Food Derived Cardiovascular Diseases

Background: The proposed criteria for a healthy daily diet play a drastic role in the prevention of non-communicable disease. Several cases of acute and chronic diseases occurred due to the presence of toxic and unsafe agents in the body. Trans and some saturated fatty acids as an example of these unfavorable components, could pose some dangerous effects on human health such as cardiovascular disease. Objective: In the current study, health criteria were undertaken to evaluate the safety of collected edible oils samples from Iranian market, and then some of the approaches for elimination and control of arisen health concerns were discussed. Methods: Totally 18 edible oil samples including cooking oil (n=5), frying oil (n=9) and table margarine (n=4) were collected from Tehran local market and were analyzed in 2016. The fatty acid profile was determined by using gas chromatography equipped with a flame ionization detector. Furthermore, the stability of frying oil was also measured by the Rancimat method. Results: All samples contained the trans and saturated fats in concentrations lower than the maximum recommended values (1%, 2% and 4% of trans for cooking oils, frying oils and table margarines, and 30% and 48% of saturation in frying oils and table margarines, respectively). The frying oils demonstrated the desired stability against high temperatures. Optimization of stability was done mainly by the addition of palm oil to the formula in the past. However, based on the fact of the high saturation of palm oil and its carcinogenicity under uncontrolled consumption, a risk assessment conducted in Iran led to the limited import of palm oil. This approach resulted in the production of healthier alternatives in the country. Conclusion: The usage of applicable approaches such as inter-esterification, fractionation and blending by more stable oils fractions is suggested to achieve healthier products.

An accurate analysis of the parameters affecting consumption and price fluctuations of Electricity in the Iranian market during Summer

In this paper, a novel method is proposed to predict the cost of short-term hourly electrical energy based on combined neural networks. In this method, the influential parameters that play a key role in the accuracy of these systems are identified and the most prominent ones are selected. Due to the fluctuations of electricity prices during various seasons and days, these parameters do not adhere to the same pattern. In the proposed method, initially, using the SOM network, similar days are placed in close clusters. In the next stage, the temperature parameter and prices pertaining to similar days are trained separately in two MLP neural networks because of their differences concerning the range of changes and their nature. Finally, the two networks are merged with another MLP network. In the proposed hybrid method, an evolutionary search method is used to provide an appropriate initial weight for neural network training. Given the price data changes, the price amidst the previous hour has a significant effect on the prediction of the current state. In this vein, in the proposed method, the predicted data in the previous hour is considered as one of the inputs of the next stage.

Enhanced GMCR model for resolving conflicts in a transboundary wetland

This research proposes an enhanced Graph Model for Conflict Resolution (GMCR) with application to an international wetland. The integrated model enhances GMCR using the Analytical Hierarchy Process (AHP) and Decision-Making Trial and Evaluation Laboratory (DEMATEL) methods to extract the relative preferences of decision-makers in conflict resolution. The Hawizeh/Hoor-Al-Azim Wetland is facing increased dust storms in recent decades which are attributed to drying up of Mesopotamian wetlands, creating the potential for conflicts among riparian countries. The proposed integrated approach was applied in the Hawizeh/Hoor-Al-Azim Wetland fed by the Tigris and Karkheh Rivers. Turkey, Iran, Iraq, and Syria are located in the Tigris River basin, and the Karkheh River originates from the Zagros Mountains in western Iran. The results indicate that the achievement of an environmental balance depends on cooperation between Iran and Iraq to persuade Turkey to release the environmental flow to the wetland. Three strong equilibrium points were identified among 15 feasible states: (a) establishing a regional agreement among Iran, Iraq, and Turkey to reduce the effects of conflicts in the Hawizeh/Hoor-Al-Azim Wetland; (b) coalition of Iran and Iraq to motivate Turkey to reduce water withdrawal from the Tigris River; and finally, (c) exchanging water release for commodity market in Iran and Iraq for Turkey. In general, the economic cooperation among countries can be used as a negotiation tool to solve water conflicts in international wetlands.

Financial statement comparability and cash holdings: the mediating role of disclosure quality and financing constraints

PurposeThe purpose of this study is to examine the impact of financial statement comparability as a qualitative feature of financial reporting on cash holdings and the mediating role of disclosure quality and financing constraints in firms listed on the Tehran Stock Exchange (TSE).Design/methodology/approachUsing panel data from 110 TSE-listed firms from 2011 to 2017 in Iran, this study uses the regression analysis to examine the research hypotheses. The first hypothesis examines the relationship between financial statements comparability and cash holdings and two other hypotheses examine the mediating role of financing constraints and disclosure quality in this relationship.FindingsBased on pecking-order theory and institutional context of Iranian firms, the results show that financial reporting comparability has a significant negative impact on corporate cash holdings. The results also show that disclosure quality and financing constraints have no mediating role in the relationship between accounting comparability and cash holdings. The robustness tests with alternative measures of accounting comparability and cash holdings support the findings of this study.Research limitations/implicationsThe limitations of this study are as follows: limited number of TSE companies that have necessary data to conduct research; and using the disclosure quality scores provided by TSE organization.Practical implicationsThe findings suggest that creditors should consider the financial status and also the quality of financial reporting of companies, before granting credit to them. It is also recommended that regulators in the capital market publish the ratings of companies in terms of financial statement comparability alongside the disclosure ratings and a continuous regulatory oversight on companies.Originality/valueTo the best of the authors’ knowledge, this is the first empirical research on the effect of accounting comparability on the level of cash holdings that examines the mediating role of financing constraints in the context of Iran market as an emerging economy. Moreover, this is the first empirical research that studies the effect of disclosure quality on this relationship.

Bottled water safety evaluations in IRAN: determination of bromide and oxyhalides (chlorite, chlorate, bromate) by ion chromatography.

Bottled water is most well liked within the world and attention is drawn due to its health issues. Oxyhalides is one amongst the foremost important by-products in bottled water which is produced by disinfection process such as "ozonation". International standards have been set and justified to permissible levels for chlorate, chlorite and bromate as 700, 700 and 10μg/l. Thereafter, 168 samples of bottled water (mineral and drinking water) from Iran market obtained with the optimal working conditions and analyzed by ion chromatography (IC) with conductivity detector. The results actuated that 23 and 17 out of 168 samples as mineral and drinking water revealed bromate content in charge of the national permissible level, found as the mean level of 37.04 and 33.58μg/l, respectively. According to risk assessment results, the average of hazard quotient (HQ) and lifetime excess cancer (ELCR) were calculated 6.955 × 10-3 and 0.25 × 10-3, respectively. Thereupon, it is indispensable to control as well as make consumers aware of oxyholides hazard especially bromate following governmental authorities with an insight to health sectors monitoring guidelines due to its obvious harmful effects and aspects on health issues.

Investigation Interaction between Exchange Rate and Stock Market in Iran: A Simultaneous Equation System Approach

Investigation Interaction between Exchange Rate and Stock Market in Iran: A Simultaneous Equation System Approach

The Concentration and Probabilistic Health Risk of Potentially Toxic Elements (PTEs) in Edible Mushrooms (Wild and Cultivated) Samples Collected from Different Cities of Iran

The present study was devoted to investigate the PTE concentrations including cadmium (Cd), chromium (Cr), copper(Cu), iron (Fe), mercury (Hg), manganese (Mn), nickel (Ni), lead (Pb), arsenic(As), and zinc (Zn) among six types of edible wild, 23 cultivated mushroom samples collected from Iran's market by the aid of an inductively coupled plasma-optical emission spectrometry (ICP-OES). Also, the related health risk assessment was established by the aid of the Monte Carlo simulation method (MSC). The limit of detection (LOD) and limit of quantification (LOQ) were ranged 0.001-0.048 and 0.003-0.160ppm, respectively. The concentrations of As, Cd, Cr, Cu, Fe, Hg, Mn, Ni, Pb, and Zn were determined in the ranges of 0.003-11. 5, 0.0008-5.89, 0.32-26.32, 9.15-110.08, 15.25-751.17, 0.16-2.24, 2.1-60.47, 1.21-24.22, 0.16-8.92, and 37.13-268.11mgkg-1, respectively. According to findings, highest mean concentration of Cr in both types of mushrooms (cultivated and wild) was lower than recommended level by Codex Alimentarius/Food and Agriculture Organization/World Health Organization (CODEX/FAO/WHO) while the corresponding values for Hg (0.87mgkg-1), As (1.39mgkg-1), Ni (10.08mgkg-1), Cu (36.65mgkg-1), Cr (10.44mgkg-1), Cd (0.589mgkg-1), Fe (201.04mgkg-1), Mn (10.30mgkg-1), Zn (2266.43mgkg-1), and Pb (3.81mgkg-1) were higher than related standard levels. According to the health risk assessment, no concern regarding the non-carcinogenic risk due to the ingestion of PTEs via the consumption of the edible mushrooms, except Hg in wild mushrooms for children, was noted.