During the past two decades, there has been growing trend in Iranian banking industry due to change in banking regulations. Private sector has grown rapidly and there have been several new banks on the market, which has created very competitive market. Therefore, customer loyalty is the key factor for running a successful banking business and customer relationship management (CRM) appears to be important for the success in this industry. The primary objective of this paper is to investigate the relationship between CRM and customer loyalty in one of the oldest Iranian banks named Bank Melli Iran. The proposed study prepares a questionnaire in Likert scale and distributes it among some regular customers of this bank. The preliminary results of this survey have indicated that consumer’s gender, age and educational background had no meaningful impact on quality of services. In other words, people with different personal characteristics expect the same quality of services from banking industry and there is a positive and meaningful relationship between quality of services and customer loyalty.

This paper examines the relationship between trade credit and bank loan during the financial crisis using annual data on Tunisian exporting companies over the period 2005- 2011. Results based on 2SLS regression have shown that trade credit and bank credit were simultaneously determined and maintained a complementary effect before 2008 financial crisis. On the other side, the substitution effect has been detected between the two sources of short term financing during 2008 financial crisis. Finally, companies rely more on bank loan after the financial crisis because bankers are able to cover financial need of their customers.

Over the years, organizations have witnessed a transformational change at global market place. Integration of operations and partnership have become the key success factors for organizations. In order to achieve inclusive growth while operating in a dynamic uncertain environment, organizations irrespective of the scale of business need to stay connected across the entire value chain. The purpose of this paper is to analyze Enterprise Resource Planning (ERP) implementation process for Small and Medium Enterprises (SMEs) in India to identify the key enablers. Exhaustive survey of existing literature as a part of secondary research work, has been conducted in order to identify the critical success factors and usefulness of ERP implementation in different industrial sectors initially and examines the impact of those factors in Indian SMEs. Kernel Principal Component Analysis (KPCA) has been applied on survey response to recognize the key constructs related to Critical Success Factors (CSFs) and tangible benefits of ERP implementation. Intuitionistic Fuzzy set theory based Technique of Order Preference by Similarity to Ideal Solution (TOPSIS) method is then used to rank the respective CSFs by mapping their contribution to the benefits realized through implementing ERP. Overall this work attempts to present a guideline for ERP adoption process in the said sector utilizing the framework built upon KPCA and Intuitionistic Fuzzy TOPSIS. Findings of this work can act as guidelines for monitoring the entire ERP implementation project.

This paper investigates the impact of corporate governance on firm value measured by Tobin’s Q. Different corporate governance proxies i.e. board size, board independence, audit committee and CEO duality are interacted with firm value. A sample of 91 nonfinancial firms listed on KSE was selected over the period 2010-2014. The findings of the study show that board size and CEO duality had negative impacts on firm value. Moreover, board size, non-executive directors and audit committee had positive and significant impacts on firm value.

One of the primary tools for asset evaluation on stock market is to use price-to-earnings (P/E) ratio. The method is simple and has become popular among many investors for buy/sell decisions. In this paper, we present a comprehensive review on recent advances on the use of P/E ratio for measuring other firms’ characteristics. The survey has reviewed several studies on the relationship between P/E ratio and stock performance, estimation of transaction data, insider transaction, future growth, firm size, interest ratio, book-to-market equity, etc.

Privatization means establishing a new system based on the market mechanisms and consequently making a change, alteration in different aspects of economy and is a process in which the government can examine the possibility of transferring the duties and facilities to the private sector on any level and if necessary, exerts such transfer. On the other hand, exports in industry sector can be a noticeable point for the economic growth of any country. Enhancing the exports of the steel industry of the country can have a principal role in the economic pursuit of the country’s non-oil products. Such an enhancement brings about a positive effect in the efficiency of the stocks within the financial markets by developing the steel industry. Researchers of this field claim that privatization in the steel industry results in the further development of the steel stock market and exports. This paper presents a comprehensive survey on factors influencing on privatization of the firms in steel industry. The study has designed a questionnaire in Likert scale and distributed it among some experts who worked for Mobarakeh steel producer in Iran. Using principle component analysis, the survey has concluded that export activities were influenced the most by six major factors including creativity, technological limitation, opportunities and challenges, being up to date, customer orientation and financial sanction. Moreover, firm performance was influenced by two major factors of stakeholder’s satisfaction and organizational culture. Finally, two factors of rationalism and market orientation influenced the most on privatization.

This paper presents an empirical investigation to determine whether or there is any difference between the returns of two value and growth portfolios, sorted by price-to-earnings (P/E) and price-to-book value (P/BV), in terms of the ratios of market sensitivity to index (β), firm size and market liquidity in listed firms in Tehran Stock Exchange (TSE) over the period 2001-2008. The selected firms were collected from those with existing two-consecutive positive P/E and P/BV ratios and by excluding financial and holding firms. There were five independent variables for the proposed study of this paper including P/E, P/B, market size, market sensitivity beta (β) and market liquidity. In each year, we first sort firms in non-decreasing order and setup four set of portfolios with equal firms. Therefore, the first portfolio with the lowest P/E ratio is called value portfolio and the last one with the highest P/E ratio is called growth portfolio. This process was repeated based on P/BV ratio to determine value and growth portfolios, accordingly. The study investigated the characteristics of two portfolios based on firm size, β and liquidity. The study has implemented t-student and Levin’s test to examine different hypotheses and the results have indicated mix effects of market sensitivity, firm size and market liquidity on returns of the firms in various periods.

There is a concern that auditors and the public may have different beliefs about the auditors’ responsibilities and the messages delivered by audit reports. During the past few years, some spectacular and well‐publicized corporates such as Anderson consulting collapse and the subsequent implication of the reporting auditors have emphasized on the audit expectation gap. It appears that public misperceptions represent a major reason for the legal liability crisis facing the accounting profession. The objective of this paper is to present an empirical investigation on the audit expectation gap for some privately hold firms in Iran. The population of this survey includes two groups of official auditing officials and management of some privately held firms. The results of the survey have indicated that there were some meaningful difference between management and audit group’s perceptions in terms of the auditors’ roles and responsibilities. However, there was no meaningful relationship between management and audit group’s perceptions in terms of the auditors’ independence.

Cash is the life blood of the organizations and cash management is the important aspect of any organization. Corporate cash management boosts the companies from small to giant in the competitive environment. In this study, we highlighted three factors of a good cash management practices; namely cash conversion cycle, cash holding and credit score. Influence of one factor to other help organizations manage their corporate cash more appropriately. In this study, we collected data from Capitaline corporate data base of Mumbai over the period 2002-2011. In this study we observed that due to higher credit score, companies were forced to minimize their cash conversion cycle and helped them maintain lower levels of working capital.

Consumer credit risk assessment involves the implementation of risk assessment techniques to manage a borrower’s account from the event of pre-screening a potential application through to the management of the account during its life-cycle and possible write-off. This paper presents an empirical investigation to study the relationship between 13 different factors such as credit history, applications’ educational and management skills, etc. and credit risk. The study selects the profiles of 380 applicants who received loans from one of Iranian banks named Bank Mellat in city of Tehran, Iran over the period 2010-2011. Using Pearson correlation, the study has determined a meaningful relationship between applicants’ profiles including credit history, business characteristics, personal characteristics, etc. and credit risk.