In this paper, we address the stockholder overreaction and mean reversion in specified major industry groups in Tehran Stock Exchange (TSE). This paper investigates this issue with panel data analysis and with particular attention to the Box-Jenkins Approach for stationary diagnosis with appropriate order and modeling stock prices with regard to specific industries. The study processes modeling of panels where stationary and mean reversion takes place in complementary analysis. The sampling intervals are explored monthly within the past few years. The results reveal that mean reversion presence in three industry group stock prices and industry stock prices would not behave in certain pattern.

Measuring the performance of governmental organizations plays essential role on making strategic decisions. In this paper, we present an empirical investigation to measure the performance of 22 different branches of municipalities in city of Tehran, Iran. The proposed study uses data envelopment analysis (DEA) for measuring the relative efficiencies of various units. The proposed DEA uses fixed assets, employee expenses and total income as input and Green Space Development, Resumption and Waste, Development of Cultural Spaces as well as Improvement of Passages and highways are considered as the output of the model. The results indicate that 9 regions were operating efficiently and 14 regions were inefficient.

Nowadays, new technologies have changed the way of serving customers in many service organizations including banking industry. The importance of websites and their exclusive characteristics in presenting various kinds of services to the bank customers has increased. This paper presents a compound model to investigate the effect of traditional and online elements on customers & apos; trust in electronic banking and word of mouth advertisement. For this purpose, a standard questionnaire based on Likert segmentation has been used and 384 customers of Shiraz Mellat bank branches have been tested, randomly. Using structural equation modeling, the study shows that both traditional characteristics of bank and website characteristics rather have positive effects on customers’ trust in electronic banking, which increase word of mouth advertising, positively.

Single minute exchange of dies (SMED) is one of the most important tools to achieve lean production system. The main idea of this system is to provide methods and to use creative and innovative solutions for continuous improvement. Due to the importance of this issue and its effect on reducing waste during the production process, this study presents a method to identify and to weight factors in the establishment of a single minute exchange of dies in 14 plastic injection factories. In this study, fourteen factories in injection industry were chosen and the factors influencing the implementation of single minute exchange of dies were identified. Following data collection, decision matrix was formed and the weight of each factor was determined by using Shannon Entropy. Then, in order to determine the readiness of factories, VIKOR method was used to rank companies. The results indicate priorities of the following factors in establishing SMED that include: Senior management support, technical capabilities, technical knowledge of staff and consultants, knowledge of mold design, manufacturing infrastructure, team work, combination of the project team work, benchmarking, training, clear understanding of project objectives, rewards and motivation, proper management expectation, project management, teamwork and organizational culture. Practical implications: Due to the factors, Top manager can make the best decision for implementing of SMED technique. This study develops factors influencing on SMED implementation based on Shannon and VIKOR methods for ranking parameters and plants.

Intellectual capital plays essential role in corporate performance and this paper examines the impact of intellectual capital and its components on the ratio of corporate operating profit on sales as an indicator of economic performance. The study was accomplished among 1035 companies listed on Tehran Stock Exchange and by using the Pulic-2004 model over the period 2005-2012. The results indicate that intellectual value added coefficient, as an indicator of intellectual capital efficiency, preserves a positive effect on sales and efficiency of structural capital and capital employed maintains a positive and meaningful effects on different financial ratios.

The Human Development Index (HDI) is a composite statistic of life expectancy, education, and income indices, which is implemented to rank countries into different items of human development including life expectancy, education, living standards. This paper uses fuzzy analytical hierarchy process (AHP) to rank five influencing factors including income, culture, healthcare, knowledge and civil rights in Iran. Using a questionnaire in linguistic form, the study asks some experts to make judgment about the relative importance of each pair of five items and it ranks them based on fuzzy AHP technique. The results indicate that income is number priority followed by knowledge, culture, civil rights and healthcare affairs.

This study investigates the effect of stock liquidity and stock liquidity risk on information asymmetry in Tehran Stock Exchange (TSE) listed companies. In this study, the bid-ask spread is considered as the criterion of information asymmetry. In addition, stock trade volume and the number of stock trades are considered as the criteria of stock liquidity. Some variables such as size, stock price, beta and growth are also considered as control variables. To test the hypotheses of the survey, 202 TSE listed companies over the period 2007-2012 are considered based on the multiple regression (Panel) method. The evidence shows that both proposed criteria, stock liquidity criterion as well as the stock trade volume and the number of stock trades, had negative effects on information asymmetry, but this effect is not statistically meaningful. In addition, evidence shows that stock liquidity risk had positive effect on information asymmetry, which is statistically meaningful. Research results also show that firm size and beta had positive and meaningful effects on information asymmetry. Finally, the results show that growth and stock price had negative meaningful effects on information asymmetry.

The purpose of this study was to examine the effect of relationship marketing on customers’ frequent use of services provided by an Iranian bank named Eghtesad Novin (EN). The present study was a correlational-applied study. The population of this study was all customers who had more than two years of collaboration with the EN Bank and were living in Tehran. Therefore, those branches located in diverse districts of Tehran were selected from all branches across the country. Since each branch was associated with one of quadripartite districts, five branches were selected randomly from each district. Multi-phase cluster random sampling was carried out in these districts. To obtain a sample size, formula of ratio estimation with a relative error of 0.05 and a maximum variance value of 0.50 were used so that the total size of sample was determined as 400 approximately. This study utilized the descriptive survey method. For this purpose, researcher-made questionnaires were used. In order to determine the reliability of the above-mentioned questionnaires, Cronbach & apos; s alpha coefficient was used and it was determined as 0.813, which confirmed the questionnaires. In addition, the validity of these questionnaires was reviewed and confirmed using expert opinions and viewpoints of professionals working in the banking sector as well as respectful professors. Inferential statistics as well as SPSS and LISREL software were used in order to design the research model. To this end, the effect of the foundation of relationship marketing including commitment, trust, communication and conflict-handling on customer loyalty, the importance of these factors from the perspective of the customers and the bank & apos; s success in creating any of the variables was examined and the data was analyzed using multiple regression method. The results showed that, except commitment, other foundations of relationship marketing had significant and positive effects in this bank.

Market segmentation plays essential role on understanding the behavior of people’s interests in purchasing various products and services through various channels. This paper presents an empirical investigation to shed light on consumer’s purchasing attitude as well as gathering information in multi-channel environment. The proposed study of this paper designed a questionnaire and distributed it among 800 people who were at least 18 years of age and had some experiences on purchasing goods and services on internet, catalog or regular shopping centers. Self-organizing map, SOM, clustering technique was performed based on consumer’s interest in gathering information as well as purchasing products through internet, catalog and shopping centers and determined four segments. There were two types of questions for the proposed study of this paper. The first group considered participants’ personal characteristics such as age, gender, income, etc. The second group of questions was associated with participants’ psychographic characteristics including price consciousness, quality consciousness, time pressure, etc. Using multinominal logistic regression technique, the study determines consumers’ behaviors in each four segments.

This paper presents an empirical survey to study the relationship between knowledge sharing and workforce agility among regular employees of Malek Ashtar University of Technology located in city of Tehran, Iran. The study uses two questionnaires for measuring knowledge sharing and workforce agility in Likert scale. In our survey, knowledge sharing consists of three dimensions of cognitive, structural and relationship while workforce agility includes seven dimensions including intelligence, maturity, perseverance and hard-working, creativity and innovation, being responsive, flexibility and information and communication. Using Pearson correlation ratio, the study has detected positive and meaningful relationships between various components of knowledge sharing, structural, relational and cognitive, and workforce agility (r = 0.708, P-value = 0.001).