Sharif Digital Repository

In finance literature there are different views of individual and institutional investors for variety of reasons. Despite having consensus on the difference of individual and institutional investors due to complexity and size, it seems there are much disagreement on how they affect the key process of market like return and liquidity. In this paper we consider the effect of individual and institutional trading on the short-term return of stocks. Specifically, first we define some factors to measure the trading activity of individual and institutional investors. Then we use these factors to sort each stock in the cross section to create decile portfolios and we compare the short-term return... 

Credit risk is the possibility of a loss resulting from a borrower's failure to repay a loan or meet contractual obligations. All banks and financial institutions need to manage credit risk of their lending portfolios to maximize risk-adjusted rate of return and obey regulatory rules. The most commonly used method for determining credit risk is to calculate the maximum loss within the “Value at Risk” framework.Previous studies proposed different models for Credit VaR calculation like Vasicek Model and Credit Risk Plus Model. Furthermore, due to the high growth of computing power and easy access to information, the application of data-driven models such as Machine Learning has been increasing... 

In this thesis, with a review on policy simulation and economic reform analysis literature, we design a suitable method to analyze the effects of monetizing energy carriers subsidy on welfare criteria of Iranian households. The selected method is limited general equilibrium that needs demand estimates of goods, services and energy. In firs step,based on 13 years of data on “Iranian Households’ Expenditures and Income” surveys, data are provided as a pseudo-panel. Demand equations are estimated using “Seemingly Unrelated Regressions” for panel data, and elasticities are calculated. In the next step, we evaluated the equivalent variation and equivalent gain measures in each price scenarios.... 

This thesis finds evidence for the presence of adverse selection in the Iranian life insurance market. We use a unique dataset including more than one million policyholders’ profile information alongside their chosen life insurance coverage from the largest Iranian insurance company. Our results not only find evidence in support of adverse selection in this market, but also consider the magnitude of adverse selection relatively notable. Moreover, we found that in addition to the coverage, the other dimensions of contract could be the potential source of adverse selection. Particularly, we focused on the insurance duration and the payment method (monthly, annually, all-in-advance).... 

Human walking as a rhythmic movement, despite of being simple in implementation, is so complex in biomechanical modeling and has attracted the attention of most of the researchers. Numerous theories and assumptions have been proposed for modeling this motor pattern. Central pattern generators are neural circuits in the spinal cord responsible for generating rhythmic motor patterns in rhythmic activities such as walking. On the other hand, muscle synergy has been introduced as a solution for alleviating the redundancy of the muscular system. In this hypothesis, the central nervous system activates muscle groups that are called muscle modules. Using this hypothesis facilitates the... 

This thesis aim to the study of the effect of bank’s branching decisions on deposit market. Using panel data banks from Iran, we study effect of branching on market share and market size. In theoretical part, we assume that banks maximize discounted flow of the profits. We also assume that the banks take into account the reaction from rival banks in setting number of branches. Banks are assumed to expect the rival banks react by a lag of one period. In empirical part, in order to distinguish between aggregate market size effect and market share effect, we rewrite quantity of deposit in banks as the product of aggregate deposit and market share. We specify deposit market share function with... 

In the past few years mobile usage is increasing in Iran. Since mobile industry is growing and new innovations are presented, the competition between operators is rising. Although this competition has a great influence on the mobile demand for each operator, lack of the data of the all operators made us to use the data of one of the operators to investigate the demand. Based on the subscriber’s data of Hamrahe-Aval company, it has been introduced an estimation of a demand system for customers of this company by using AIDS model in this essay. This model includes three groups of services: sending short messages, calling to mobile numbers and calling to fixed numbers.
This study has two... 

The identification of the poor and the elimination of their poverty always has been the subject of discussion among researchers and policymakers. Today, most researchers consider poverty as a multidimensional phenomenon, and in addition to income indicator, it has indicators related to the level of knowledge, awareness, well-being and the health of individuals. The study of multidimensional poverty and the search for the discovery of its static and dynamic relationship with income-based poverty is the subject of this research. The analysis shows that both statically and dynamically, there is a substantial mismatch in the identification of the poor households according to these two... 

Since the mid-twentieth century, the issue of gender preference has always been of interest to economists. This preference is demonstrated by sex-selection methods such as differential stopping behavior and sex-selective abortion. While it is almost impossible to look directly into abortion behavior in Iran, due to religious beliefs and illegality, we can investigate gender preference by calculating to what extent parents adapt their fertility behavior to ensure the birth of preferred sex. For this purpose, we use “Households Income and Expenditure Survey of 2019” data from the Statistical Center of Iran. Our results indicate that when Iranian parents are deciding to have second child, they...