درخت حوزه‌های تخصصی

The main purpose of this research is to explain why and how the stock liquidity affects the default risk of petrochemical and petroleum products companies listed in Tehran Stock Exchange. The study used experimental data and parametric tests in order to estimate the relationship between stock liquidity and default risk through information efficiency and corporate governance roles of stock liquidity. The present research is applied in terms of purpose and is a descriptive-correlative study. All data required regarding the stock liquidity, price, trading volume and days, stockholder ownerships, etc., were extracted from Rahavard Novin database software. To investigate the relationship between variables, the multivariate regression analysis model using OLS method was applied in Eviews platform. The empirical findings showed that there is a significantly negative relationship between stock liquidity and default risk of petrochemical and petroleum product companies listed in TSE and also stock liquidity can affect the default risk through reducing the information asymmetry in the stock pricing process and strengthen the corporate governance. These results could provide visible signals based on the realities of the market in order to improve models to assess and predict the risk of default and lead managers and decision makers of suppliers, customers, partners and stakeholders, to conclude more flexible contracts with petrochemical and petroleum products companies and ultimately better mitigate business risks.

Natural gas infrastructure is growing and global LNG volumes are set to expand substantially. This results in more trade between different regions of the world and emergence of a more competitive and relatively more integrated global gas market. In addition, several key markets are currently undergoing structural reform with the aim of opening them to competition. In line with these changes in the global market, gas pricing methods also need to be adapted. This paper discusses the challenges of natural gas pricing and price review in this new market environment. Firstly, the current structure of the global and regional gas markets is analyzed. Secondly, challenges in natural gas pricing and price review are discussed, and in this context oil-indexation and hub-indexation are analyzed in detail. Thirdly, the recommended framework for pricing and price review in the more competitive global market are presented. The pricing mechanism and price review framework should be tailored to the characteristics of the gas market and the stages of growth and maturity of the market.

South Pars gas field is the largest gas field in the world and is shared between Iran and Qatar.One of the most important projects in this field is the development of Phases 17 and 18. This mega project is one of the most important projects implemented in the South Pars gas field.This paper examines the impact of domestic inflation on the costs of implementing these phases over a period of ten years(2003-2013) .The main purpose of this study is to calculate and compare the costs of implementing this project under non-inflationary conditions.For this purpose, the main and standard activities of this phases is selected and its costs calculated and then neutralize inflation indicators for the desired time period to be compared between inflation and non-inflationary states.Wilcoxon test used to compare two dependent groups.Based on statistical analysis,assuming the absence of other factors,the expenditures of selected activities in phases 17and 18 of South Pars in the inflationary state were significantly higher than the non-inflationary state Keywords:South Pars Gas Field, Domestic Inflation

The developmental process of architectural tradition of tower tombs in Azerbaijan during the 12 th – 14 th centuries (AD)  is one of the basic questions in the Iranian history of architecture. Historically, the architectural constructions and decorations were developed in Nakhchivan by the end of 12 th century. Based on the formulated doctrines of the former USSR academy, the late Seljukid architecture in Nakhchivan was indigenous and originated from the local innovations. Turkish art historians have classified the late Seljukid architecture in Nakhchivan as a variety of Turk – Islam tradition in the post- USSR years. These kinds of de- historized studies have not considered the socio- cultural relationships among Qazvin, Maragheh, Tabriz and Nakhchivan within the Iranian cultural context. The main aim of this study is to investigate the general specifications of the 12 th – 14 th centuries (AD) architecture of the tower tombs in Nakhchivan and Maragheh to examine their artistic and technical interactions appeared in the glorious architectural monuments during the Iranian Late Seljukid – Ilkhanid history of architecture. Methodologically, the origin of Nakhchivani tower tombs should be sought in the architectural manner of Maragheh due to the chronological order of their existing Persian and Arabic inscriptions. Although the USSR and Turkish decontextualized subjectivities in the architectural history of Nakhchivan are not well-reviewed, the architecture of the tower tombs in the Late Seljukid Nakhchivan has a processual trajectory initiated from the early Seljukid Kharāghān in Qazvin to the late Seljukid Maragheh and then the Nakhchivani manner of Ajami Nashawi.