Sharif Digital Repository

Exporting firms face a range of challenges when entering international markets, among which financial constraints are particularly significant. Financial constraints can impair a firm’s cash flow, making it difficult to finance the fixed costs associated with export market entry. This study constructs a firm-level index to measure the degree of financial constraint and examines its impact first on the probability of export participation, and then on the volume of exports. The analysis is based on data from Iran’s industrial firms between 2008 and 2019 (1387–1398 in the Iranian calendar). The effect of financial constraints on the probability of exporting is estimated using logit and linear... 

In this thesis with the title “Achievable Secrecy Rate Regions for the Relay Networks”, an overall insight about the information theoretical security especially for the multiple-access relay channel in which the relay and the transmitters cooperate to provide a secure communication is introduced. Firstly, a general review of the researches in different aspects of information theoretic security with the advantages and restrictions of each one is presented. In continue the basic wiretap channel which is the first channel with security constraints is described and the results for this scenario are discussed. Secondly, the relay channel as one of the basic structures in wireless networks is... 

Voting has been considered as one of the principal of democracy which by this, people can announce their convictions and ideas officially. E-voting is a method of online voting based on cryptographic mechanisms. E-voting schemes by keeping voters' privacy safe and providing security requirement same as verifiability, fairness, coercion resistance, receipt freeness, undeniability, and eligibility has been noticed in recent years. Security of many presenting schemes is based on existence of trusted third party that plays an important role in process of getting and counting votes. Also, some of security problems which are in this scheme, originated from centralization and generic trust of third... 

The per capita income and welfare levels of countries around the world vary significantly from each other. Identifying the factors that lead to differences in the per capita income of countries as well as their welfare levels is a major concern for economists. Studies conducted in this field indicate that one of the main sources of these differences is the significant disparity in the total factor productivity (TFP) across countries. Suboptimal resource allocation is one of the most influential factors affecting TFP in countries. The primary importance of investigating misallocation in the Iranian economy is that, in line with the decrease in economic growth, the growth rate of industrial... 

The distinction between SOEs and private firms in access to loans is essential from the viewpoint of policy-making. This distinction is more crucial when we know that the difference is caused by factors other than natural market forces and has emerged merely by government ownership. In this paper, we investigate a unique intervention in privatization and identify the causal effect of government ownership on access to loans. In this respect, we study Sahamedalat in Iran by using DID approach and estimate the effect of giving up the treatment firm's cashflow right on the amount and composition of the loans. The results show the intervention significantly decreases the long-term loan of the... 

Privatization is one of the most important economic reform policies of the 1980s and 1990s, and it has been widely studied. Many researchers have studied the difference between public and private companies from the perspective of productivity and performance. Due to the different implementation methods of this policy, different consequences are expected. In this research, the causal effect of government ownership on the productivity of companies is investigated. In this regard, using the difference-in-difference method, we investigate the Equity Share policy and measure its effect on the level of productivity of companies and their growth. The results show that the implementation of the... 

The financial depth in Iran has decreased since 2008 and simultaneously the interbank rate has increased. In addition, researches show that the bank health has decreased over the same period. This research investigates to find evidence for the existence of the relationship between the bank health indicators and its lending power. In this regard, the balance sheet data and financial statement data of the Iranian banks during 2007 to 2014 have been investigated and the effect of the bank health indicators on their lending power studied at the normal conditions and sanction periods. In this research like Kashyap and Stein 2000, and Gambacorta and Marques2011, the bank lending channel consider... 

In the banking and macro-financial literature، banks are modeled as financial intermediaries who give loans to the borrowers from their deposits. In these models، deposits are created from the accumulation of real goods. Besides this view، which is used more in the academic environment، others who are most practical، describe banks not intermediaries، but credit creator which do not need deposits to pay loans. In this research، we use credit creation concept in a Neoclassic environment that the central bank’s monetary policy is fractional reserve to answer this question that if banks could create credit for firms based on its future income، while firms have CIA constraints، how do economic... 

Related Lending is defined as banks making loans to firms with which they have some kind of ownership association. On one hand, this practice can help diminish asymmetric information between bank and firm which results in a more efficient allocation of bank’s resources. On the other hand, it may lead to the banks’ transferring resources to their related firms inefficiently, without meticulously assessing the risks involved. This paper is focused on the effect of the relationship between bank and firm in their ownership structure, on the loan provision. I have gathered a unique dataset of private and privatized banks and also private firms active in Iran’s stock market, which covers the... 

Artificial recharge is an effective method of enhancing groundwater resources. Different methods are being used for aquifer recharge, including direct surface and subsurface method, Combined and indirect methods. Among these, direct surface methods such as flood spreading and ditch and furrow techniques are most commonly used methods. They are frequently used in Iran too, but what is disregarded herein, is the application of modern methods of artificial recharge such as ASR and ASTR. ASR and ASTR are methods of artificial recharge through injection wells/borings, in order to recharge deep-seated or those aquifers which are separated by impermeable stratum from the surface. These methods,... 

Bank loans are one of the main sources of financing for enterprises and the most important source of financing for large enterprises in Iran. Uncertainty about future conditions and asymmetric information between the bank and the firm puts the provision of loans at risk. According to the principle of proportionality of risk and return, the interest rate of bank facilities should be proportional to the risk that the bank incurs in return for granting the loan. In general, the interest rate of bank loans can be affected by three types of risks: the credit risk of the applicant firm, the risk of the lender bank and the macroeconomic environment risk. In this study, we try to estimate the... 

This study examines the real consequences of credit market frictions in quantitative and qualitative terms in the framework of a dynamic general equilibrium model. In the form of a macrofinance model in which the asymmetric information between the bank and the firm and the weakness in the implementation of the contracts forms the relationship between the lender and the borrower, and the firm is able to strategically decide on default, we have analyzed the market equilibrium and the effect of credit market conditions on different markets. The findings of this study indicate that in such an economy, the decision of borrowers to voluntary default will reduce public welfare, cause a poor... 

In the banking and macro-financial literature، banks are modeled as financial intermediaries who give loans to the borrowers from their deposits. In these models، deposits are created from the accumulation of real goods. Besides this view، which is used more in the academic environment، others who are most practical، describe banks not intermediaries، but credit creator which do not need deposits to pay loans. In this research، we use credit creation concept in a Neoclassic environment that the central bank’s monetary policy is fractional reserve to answer this question that if banks could create credit for firms based on its future income، while firms have CIA constraints، how do economic... 

In much of the financial economics literature, banks are modeled as financial intermediaries that transfer household deposits to loan applicants. In these models, deposits are obtained from the accumulation of real amounts (household savings). In addition to this, another approach describes banks not as intermediaries of loanable funds, but as money-creators who do not need to accumulate deposit resources to lend. In this study, by modeling the money-creation behavior of the banking network, we try to answer the question that if the bank can create credit and purchasing power for the firm based on its future income, how will the general variables of the economy, including consumption and... 

Aim and introduction The conventional notion of the permanent income hypothesis is that individuals aim to smooth their consumption over time, demonstrating resistance to fluctuations in income. This foundational concept assumes that individuals utilize savings or credit when faced with expected income changes or temporary income shocks, preserving their ultimate well-being. However, empirical evidence challenges this hypothesis, revealing that consumers often exhibit responsiveness to income changes, both expected and temporary. This phenomenon is called "excess sensitivity of consumption". Various factors underpin this apparent excess sensitivity of consumption, encompassing demographic... 

This study investigates the collateral channel in the Iranian economy and presents key findings regarding the impact of collateral values on firms’ investment behavior. Introducing a novel measure of financial constraints, the research employs this variable to strengthen the empirical identification of the collateral channel. The results provide clear evidence for the existence of a collateral channel in Iran, particularly in investments related to construction and land acquisition. Firms facing tighter financial constraints exhibit a stronger propensity to invest in these areas when the value of real estate collateral increases. These findings support the presence of the collateral channel... 

In recent years, significant interest has been attracted towards using directional antennae in wireless and sensor networks due to it’s decreased energy consumption, increased security and decreased radio wave overlapping. Substituting omni-directional antennae with directional antennae should be performed in a way that not only guarantees connectivity, but also minimizes radius and latency in network nodes. The problem is not polynomially solvable in general and effort has been made in recent years to present approximation algorithms to solve this problem. The approximation algorithms have been made possible using unit disk
graphs, Euclidean minimum spanning trees, grouping of...