فاطمه سلطانی

Researchers examined anomalies in the market to understand the market dimensions. Prior studies considered the effects of biases on momentum strategy. Stock liquidity as one of the risk factors for assets was also considered by researchers. The purpose of this study is to examine the role of stock liquidity in the separately and jointly effect of anchoring bias and the disposition effect on momentum profit. The population of this study consists of all companies listed on the Tehran Stock Exchange. Based on systematic election sampling this study covers 136 companies over the period of 2007-2020. In this study, the effect of disposition effect is calculated using the approach of Greenblatt and Han (2005) and Frazzini (2006) and the anchorage bias is calculated according to George and Hwang (2004). This study calculates momentum profits according to Jegadeesh and Titman (1993). To test the hypotheses, multivariate regressions and the five-factor model of Fama and French (2015) have been used. The results of this study show that the disposition effect in stocks with low liquidity increases momentum profit. In addition, anchoring bias in stocks with low liquidity leads to an increase the momentum profit. Findings of this study document that the interaction effect of anchoring bias and disposition effect, while reinforcing each other, is also associated with increasing in momentum profit. Finally, when anchoring bias and disposition effect reinforce each other, and stocks have low liquidity, they do not increase momentum profits.

Purpose: The purpose of this study was to identify the dimensions and components of organizational agility based on human resource development to provide a model of organizational agility in the Islamic Azad University of Tehran. Methodology: The present study was a mixed type (quantitative and qualitative) and at the same time it was an applied research. In this regard, the statistical population of the study includes all employees of the Islamic Azad University of Tehran in 2015- 17, which was about 6735, and using Morgan table and Cochran's formula and multi-stage cluster sampling method and relative 386 employees of the university as The sample size was considered. Data collection method was based on a researcher-made questionnaire, research literature and semi-structured interviews. And Cronbach's alpha coefficient of research tool was calculated 0.919. After distributing and collecting the questionnaires, reviewing the information and testing the hypotheses was done using structural equation modeling and SPSS, LISREL software. Findings: Finally, the research findings confirmed the five dimensions, strategic, information technology, human, organizational and cultural, as dimensions affecting organizational agility based on human resource development. The results showed that the strategic dimension of the highest average and dimensions of information technology and human, organizational and cultural are in the next ranks. Finally, confirmatory factor analysis showed that the dimensions of organizational agility based on human resource development up to 71.282%, the variance of existing indicators of organizational agility based on human resource development explains. Conclusion: From the perspective of the studied sample, respectively, dimensions: strategic, information technology, human, organizational and cultural in the scale of measurement (1 to 4) have been important to a large extent and very much in organizational agility based on human resource development.