درخت حوزه‌های تخصصی

The United States’ foreign policy is influenced by specific theoretical logics that also shape its energy policies. These logics play a crucial role in understanding the country's approach to energy strategies. In this article, the authors analyze the alignment between the energy policies of the Trump and Biden administrations and the broader theoretical underpinnings of American international policy. The authors contend that the theoretical logics that drive US foreign policy has significant implications beyond foreign policy, affecting various domains, including energy. In this context, the article seeks to answer the main question, "What theoretical frameworks have shaped the energy policy of the United States from 2017-2023, during the Trump and Biden administrations?" It contends that Donald Trump’s energy policy was driven by a quest for hegemony predicated on the logic of supremacy. Conversely, Joe Biden’s energy policy embraced a multilateral orientation based on liberal internationalism and integrated environmental and climate concerns with America’s economic aspirations. The article is structured as follows: the introduction sets the context for the analysis, while the literature review examines the relevant theoretical literature. The conceptual framework section outlines the authors' theoretical approach. The subsequent sections analyze the energy policies of the Trump and Biden administrations, respectively. The authors then identify points of continuity between the two administrations before concluding.

Dynamic capabilities refer to an organization's capacity to purposefully create, expand, or change its resource base. In all countries of the world, the gas industry of each country plays an important role in its economy and growth. And we are in an era where rapid global changes and technological innovations occur, and gas refineries are not unaffected by these changes. The objective of this research is to identify dynamic capabilities within knowledge-based companies in the gas refining industry. This study employs a mixed-methods approach to develop a model of dynamic capabilities specific to knowledge-based gas refining enterprises. By analyzing 54 articles through a meta-synthesis method and conducting semi-structured interviews with 12 experts in this field, the components of dynamic capabilities were identified through thematic analysis. Following this, the factors were evaluated using confirmatory factor analysis, and a questionnaire was distributed to specialists, with all components being validated in the initial phase. To develop the final model, the research utilized structural interpretive modeling (ISM), and the corresponding questionnaire was completed by 15 managers of knowledge-based companies in Tehran

Investment fund managers have been trying to provide more attractiveness for investors by earning higher yields and generating liquidity. The investment rate of return of a mutual fund is obtained from the difference between the issuance and redemption of Net Asset Values (NAVs) per investment unit. However, the Exchange Traded Funds'(ETFs') yield should be calculated differently, and investors must consider the changes in market prices (Not only the NAVs), which are not usually announced through the Ads, so they disregard the investors. Investment fund managers believe that the attractiveness of the rate of return, even to a small extent, leads to over-welcoming of the investors and a faster growth of the funds' size. According to the information available in recent years, investors have shown more interest in fixed-income investment funds, and the growth of ETFs has been significant compared to the growth of total funds, so it can be assumed that investors are more interested in ETFs. Thus, in this research, we will identify factors affecting the development of ETFs, especially fixed-income ones. To fulfill our purpose, we examined all active fixed-income investment funds that are traded in the Tehran Stock Exchange and the Iran Farabourse from March 2021 to September 2023, including 25 ETFs. We analyzed our panel data through ordinary least squares. Analyzing the effective rate of returns of 25 Fixed Income ETFs, which have been active from March 2021 to September 2023, our results showed that ETFs development is significantly related to the fund size, daily price volatility, and liquidity. Despite our expectations, rate of return, fund age, and price adjustment do not have a significant effect on the development of investment funds. The result showed that a higher rate of return did not have a significant effect on the attractiveness and acceptance of investors, but the liquidity of investment units positively affects the development of fixed-income ETFs. We also found that the daily volatility of the final price inversely impacted the fund's size. This is consistent with investors' low risk-taking spirit in fixed-income funds and emphasizes their preference to avoid liquidity risk and price volatility risk.

Several studies in the field of capital markets indicate that changes in macroeconomic parameters, including crude oil price changes in many cases, have significant effects on capital market indexes. The present study seeks to investigate the effect of crude oil price changes on the indexes of Tehran Stock Exchange and Saudi Stock Exchange also known as The Tadawul Exchange using the two-factor capital asset pricing model with samples gathered from years 2016-2022 from both markets. The results of the study show that, both markets are relatively sensitive to the oil price index and despite severe economic sanctions imposed on Iran, Its capital market, having more significantly oil-related indexes, is still more oil-dependent than that of Saudi Arabia. The results also suggest the asymmetric relation with oil price movements in both countries due to their oil-exporting nature where both markets are more sensitive to negative oil price movements rather than its positive ones. Also, it is concluded that due to the diversity of industries in Tehran Stock Exchange, the economic sanctions imposed on Iran have a more directed impact on its capital market rather than affecting it through a mediator parameter such as oil price movements.