غلامرضا هاشم زاده خوراسگانی

The present study models the risk of investment in the petrochemical industry considering the impacts of exchange rate (US dollar to Iran's Rial) movements using the time series data from November 2008 to March 2019 and ARFIMA-FIGARCH framework. The empirical results prove the existence of the Fractal Market Hypothesis, FMH, and the Long Memory property in both the risk and return of the petrochemical stock index. These findings can be culminated in reaching a reliable and significant model to evaluate the investment risk in the petrochemical industry. In line with this, to analyze the idea whether considering the exchange rate movements matter for assessing the risk management in the petrochemical industry, the effects of exchange rate movements as a crucial source of systematic risk in Iran has been taken into consideration in the process of modelling the risk of investment in that industry. Our results demonstrate that the exchange rate movements have had a direct and significant effect on the investment risk of that industry so that if, on average, one percent change occurs in the exchange rate, the investment risk in this industry changes by 57% in the same direction.

< p>The present study models the risk of investment in the petrochemical industry considering the impacts of exchange rate (US dollar to Iran''''s Rial) movements using the time series data from November 2008 to March 2019 and ARFIMA-FIGARCH framework. The empirical results prove the existence of the Fractal Market Hypothesis, FMH, and the Long Memory property in both the risk and return of the petrochemical stock index. These findings can be culminated in reaching a reliable and significant model to evaluate the investment risk in the petrochemical industry. In line with this, to analyze the idea whether considering the exchange rate movements matter for assessing the risk management in the petrochemical industry, the effects of exchange rate movements as a crucial source of systematic risk in Iran has been taken into consideration in the process of modelling the risk of investment in that industry. Our results demonstrate that the exchange rate movements have had a direct and significant effect on the investment risk of that industry so that if, on average, one percent change occurs in the exchange rate, the investment risk in this industry changes by 57% in the same direction.

The purpose of this study is to provide a comprehensive model for the assignment of unfinished construction projects with their economicization approach. This research was conducted qualitatively with the data theory of the foundation. For this purpose, a researcher with 26 experts and specialists in the fields of Management and Planning Organization, the Majlis Research Center and the provincial civil affairs department coordination that purposive sampling (snowball) were interviewed. The text of the interviews was uploaded in MAXQDA10 software and then open coded using the software. After extracting the codes, the main categories were extracted using axial coding. Then, by discovering the relationship between the central categories, and then by performing selective coding and identifying the central category, the desired model based on data theory is presented as a paradigm. The results of data analysis in the form of a template are: Underlying conditions (classification of unfinished construction projects, their economization and assignment of unfinished construction projects), causal conditions (the first step is to control and limit the approval of new projects, the next step is to classify and present a schedule, economic For all incomplete development projects and transfers based on the existing legal instruments of transfers and participation), intervention conditions (lack of proper use of the capacities of existing laws and failure to specify the general policy law of the forty-fourth principle in the transfer of projects, lack of Effective entry of the Privatization Organization due to the difficulties of assigning development projects to companies, lack of accurate information on development projects of state-owned companies and provincial projects, between the systemic nature of the issue and the unclear method of pricing projects), strategies (codification of legal prerequisites, preparation of regulations and systems related to the transfer, preparation of a list of the most probable cases of transferable projects, coordination of responsible bodies due to the inter-institutional nature of the issue and determination of prices through auctions, negotiations, etc. Depending on the application of each method) and the outcome (creating sufficient motivation for managers, operators and current stakeholders of projects and projects by creating a method of returning the saved resources from investment with the participation of the private sector, aggregation and refinement A set of relevant and effective regulations and the availability of all laws and regulations governing private sector investment in development projects, the dissemination of information on all projects in the electronic system and public access to all investable applications as well as contract terms and all subsequent contract developments. The entire duration of the construction, operation or transfer, full transparency of the transfer process to reduce rent-seeking behaviors and pave the way for private sector activity).