Abstract: We know that Cash Conversion Cycle (CCC) is one of the measures of liquidity management. In this paper, we made an attempt to analyse the impact of CCC on the cash management. In this study we selected five companies from Pharmaceutical Sector, including, Alchemist, Lupin, Dr. Reddy’s Laboratory, Cipla and Ranbaxy. In this study, we used the secondary data for analysis and retrieved from Capitaline database for ten years period from 2002 to 2011. Through cash conversion cycle we can easily determine the working capital requirement. Because, it considers the time gap between expenditure for the purchases of raw materials and collection from sales of finished goods prepared with such raw materials, CCC plays an important role in firm’s short term assets and liabilities as well as success of the firm.

Abstract: Providing insurance contract with “deductible” is beneficial for both insurer and insured. In this paper, we provide a utility modeling approach to handle insurance pricing and evaluate the tradeoff between discount benefit and deductible level. We analyze four different pricing problems of no insurance, full insurance coverage, insurance with β% deductible and insurance with D-dollar deductible based on a given utility function. A numerical example is also used to illustrate some interesting results.

Abstract: Cash flow and leverage are two main components of any business firms. A good level of cash flow and leverage shows a desirable performance for business organizations. This paper presents an empirical investigation to study the relationship between combined leverage and cash flow in terms of board of director’s ownership and corporate governance structures. The study selects 86 randomly selected firms listed on Tehran Stock Exchange over the period 2009-2013. Using some statistical tests, the survey has indicated that there was a meaningful relationship between leverage and cash flow for firms with different corporate governance structures. The study has also determined that there was a meaningful relationship between leverage and cash flow for firms with different board of director’s ownerships.

Abstract: The present study is aimed at investigating the relationship between financial distress and investment efficiency of companies listed in the Tehran Stock Exchange (with emphasis on the role of ownership type). To calculate investment efficiency, the Richardson’s model (2006) [Richardson, S. (2006). Over-investment of free cash flow. Review of Accounting Studies, 11(2-3), 159-189.] was employed. The aim of the present study is applied and its method is correlational- ex post facto. Using the exclusion sampling method and by applying the conditions of selecting the sample, 94 companies were selected from 2008 to 2013. To test the research hypotheses, multiple regression was used. Findings of the research indicate that there was a correlation between financial distress and investment efficiency in companies listed in the Tehran Stock Exchange, and institutional ownership had positive effects on the relationship between financial distress and investment efficiency of companies listed in the Tehran Stock Exchange. Furthermore, management ownership had no effect on the relationship between financial distress and investment efficiency in companies listed in the Tehran Stock Exchange.

Abstract: One of the most important factors of survival of financial institutes and banks in the current competitive markets is to create balance and equality among resources and consumptions as well as to keep the health of money circulation in these institutes. According to the experiences obtained from recent financial crises in the world. The lack of appropriate management of the demands of banks and financial institutions can be considered as one of the main factors of occurrence of this crisis. The objective of the present study is to identify and classify customers according to credit risk and decisions of predictive models. The present research is a survey research employing field study in terms of the data collection method. The method of collecting theoretical framework was library research and the data were collected by two ways of data of a questionnaire and real customers’ financial data. To analyze the data of the questionnaire, analytical hierarchy process and to analyze real customers’ financial data, the TOPSIS method were employed. The population of the study included files of real customers in one of the branches of RefahKargaran Bank in city of Tabriz, Iran. From among 800 files, 140 files were completed and using Morgan’s table, 103 files were investigated. The final model was presented and with 95% of probability, if the next customer’s data is entered the model, it will capable of identifying accurately the degree of customer risk.