Other
Mostafa Shamsoddini; Hosein Nourani
Abstract
Price is known to be a very important indicator for evaluating the performance of firms in the stock market. This study aims to investigate the role of uncertainty and asymmetric information as the main variables influencing the stock price fluctuations on the intrinsic value and market price relationship ...
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Price is known to be a very important indicator for evaluating the performance of firms in the stock market. This study aims to investigate the role of uncertainty and asymmetric information as the main variables influencing the stock price fluctuations on the intrinsic value and market price relationship of firms active in the Tehran Stock Exchange during 2013-2022.The present study attempts to investigate relationship of stock price and mentioned variables in firms active in the Tehran Stock Exchange by modelling the relationship between the stock price and mentioned variables. The results indicate that asymmetric information has a positive and significant effect on the relationship between stock intrinsic price and market price in firms active in Tehran Stock Exchange. Furthermore, the variables relevant to firm performance and economic significantly impact the firm's stock prices. Earnings per share, expected return on risk and economic growth rate have a positive effect and financial leverage, inflation and exchange rate have a negative effect on the stock prices. Overall, the study underscores that uncertainty, asymmetric information, and both firm-specific and economic factors play a pivotal role in explaining fluctuations in stock prices, providing a valuable framework for understanding market behavior in the context of an emerging economy. From a practical standpoint, these findings emphasis the necessity for policymakers and market regulators to enhance transparency and information quality, thereby reducing asymmetric information and fostering investor confidence.
Energy Economics
Seyyed Mohammad Reza Aghaei Marzebali; Abdollah Arasteh
Abstract
Many nations’ quick development and progress during the last century may be directly attributed to the widespread use of fossil fuels. Particularly, oil has stood out as a defining feature of human civilization. However, the increasing use of fossil fuels like oil and coal has led to serious problems ...
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Many nations’ quick development and progress during the last century may be directly attributed to the widespread use of fossil fuels. Particularly, oil has stood out as a defining feature of human civilization. However, the increasing use of fossil fuels like oil and coal has led to serious problems for the world’s ecosystems, national security, and economic prosperity. This article uses actual options to determine the best time to invest in renewable energy based on diesel price volatility, electricity price volatility, and oil consumption externalities. Different actual choice approaches for discretion assessment are addressed and compared, as well as the usage of devolution for decision making. Finally, Monte Carlo simulations are used to compare these techniques to conventional approaches. The findings show that investments in renewable energy have a positive net present value. The timelessness of investing choices is emphasized by the real options method. Under the present energy system in Iran, switching to renewable energy sources is preferable than maintaining reliance on oil to provide power. Switching to renewable energy sources can help Iran reduce its reliance on oil and promote sustainable economic growth. Furthermore, can help to address the negative externalities associated with fossil fuel use, such as air pollution and climate change. Therefore, it is essential to continue to evaluate and promote the development of renewable energy sources in Iran and around the world. By increasing the cost of using oil or reducing the cost of electricity, policies should encourage investment in renewable energy sources.