درخت حوزه‌های تخصصی

Iran nuclear program had been the main theme for portraying Iran as an imminent threat to international peace and stability. Several United Nations Security Council Resolutions, adopted under Chapter VII of the Charter of the United Nations from 2006 to 2010 identified the Iranian nuclear issue as a proliferation concern and thus a possible threat to international peace and security. With the conclusion of the Joint Comprehensive Plan of Action, the UN Security Council Resolution 2231 marked the start of de-securitization of Iran nuclear program. During Trump presidency, the United States pursued the maximum pressure campaign consisting of economic, political, and military pressure against Iran, coupled with securitizing speech acts to convince the audience of the necessity of a more comprehensive deal with Iran. Using Barry Buzan’s Securitization Theory and Process Tracing as research method, this study tries to investigate the outcome of Trump Administration campaign for re-securitization of Iran nuclear program, specifically in international political arena. It finds that while Trump policy succeeded in imposing heavy economic cost on Iran, it failed to re-securitize the Iranian nuclear program.

As a trading strategy, pairs trading is performed based on the arbitrage opportunities extracted from statistical models. It is an outcome of the distance between an asset pair and the equilibrium state. Consequently, selecting a pair with the potential to form long-term relationships and reverting to the mean is the main challenge associated with pair trading. Cointegration is one of the most famous statistical tests for selecting a pair's trading. The present study uses Empirical Mode Decomposition (EMD) to decompose the time series of an asset pair price into its constituent elements (intrinsic mode functions). This study examined the property of cointegration across different levels and the corresponding levels of 2- time series to find the cointegration pairs in different decomposition levels and finally examine the resulting profitability. To this end, the profitability of the pairs trading system related to 14 stocks of the Tehran Stock Exchange throughout 2012-2021 was investigated based on EMD. The results showed that the outputs are pretty noticeable for the first level of decomposition (the first intrinsic mode function), and the number of trading opportunities increased by more than two times compared to the normal pair trading with cointegration; the daily returns increased by four times; and the Sharpe ratio increased by about two times compared to the normal pairs trading. The system formed based on the second mode function also outperformed the normal cointegration, and the performance of the third intrinsic mode function is almost on par with that of cointegration. Moreover, the mean transaction duration decreased remarkably in the first and second mode functions.