Formulation of Bank Melli Iran Marketing Strategy Based on Porter‘S Competitive Strategy

ABSTRACT

The presence of a modern and predefined marketing strategy is essential for every enterprise like banks in order for the bank to be able to benefit from an appropriate and efficient strategy based on the current market conditions, competitors' status and so on. Therefore, the purpose of this article is to develop a marketing strategy based on Porter's competitive strategy at BankMelli. the number of managers working at BankMelli is 2456 and 337 of them were selected as samples to be used in the calculations. the result of this article, which were obtained based on the fuzzy TOPSIS test method, indicates that the differentiation strategy is the first priority and then are the focus and cost leadership strategies. In addition, prioritization of indices indicates that personnel thinking, personnel abilities, market development, service provision and ultimately, product presentation are the first five priorities in determining the strategy of BankMelli.     

The pricing of real estate investment trust initial public offerings

This paper examines the pricing of Initial Public Offerings (IPOs) of Real Estate Investment Trusts (REITs). Unlike standard corporations, evidence suggests that REIT IPOs are correctly priced in the initial market. Significant negative initial-day return for mortgage REITs is found to be a function of using the bid price to calculate returns for those securities, which trade initially over the counter (OTC). If the bid-ask average or the ask price is used in calculating returns, any apparent overpricing disappears. Additionally, we find that once transactions costs are considered, an investor is better off purchasing a REIT on the offering.     

Urban food markets and their sustainability: the compatibility of traditional and tourist uses

The aim of this article is to highlight the importance of urban food markets as tourist icons in the current competitive race to create attractive cities. Food markets attract a large number of consumers, both local and tourists. However, their impact on the city and its dynamics should be treated to establish measures to ensure sustainable (compatible) uses for both kinds of users. This calls for the establishment of a system of indicators to determine what level of sustainability food markets are at and facilitate decision-making for the agents involved in their management.     

VALUE OF LIFE AND INJURY: EVIDENCE FROM A U.S. FISHERY

Here, revealed trade‐offs between monetary rewards and safety risk for shrimp fishermen in the Gulf of Mexico are investigated. Shrimp harvesting is one of the most dangerous occupations in the United States with an occupational fatality rate significantly above the average. The instrumental variables method is employed for estimation of the injuries and fatalities. My estimates of the value of a statistical life and the value of statistical injury, using the sample selection model, are in line with the estimates from other industries and provide useful information for public policy. (JEL J17, Q2, K2, D2)     

Evaluating the Implementation of a Mandatory Dual Reporting System: The Case of Indonesian Local Government

Informative and transparent financial information in the public sector is crucial for improving public sector management and eradicating corruption. Given this, Indonesia has reformed its public sector accounting, reporting and accountability systems by implementing a dual reporting system known as ‘cash towards accrual’, following similar reforms in developed countries. Drawing on the experience of five local governments (districts) in Indonesia, this study finds that the implementation of the dual reporting system has helped local governments to produce transparent and informative reports. However, the accrual‐based contents of the dual reports produced by the new reporting system are underused for decision making. In addition, there has been a significant increase in costs associated with the implementation of the new accounting regime in the jurisdictions studied. The study also finds that the ability of the users to use information generated by the new accounting system is more important than just a legal and mandatory requirement to use the new system.     

Global Financial Crisis： Systemic Failure and the Underlying Knowledge Gap

Recently, global financial crisis or meltdown rocked the international financial market. This havoc was the result of the reckless use of financial derivatives that received spontaneous patronization from the financial whiz, but it is strange to discover that those proponents of market economy embarked on policy that was purely Keynesian in principle. The episode started in August 2007 with the collapse of subprime mortgage market and reached its climax during August 2008. Central banks in many countries of the western world intervened in the market to pump additional fund to give buoyancy in the credit market. The crisis encapsulated with the queer idea of financial instruments and multiple origins related to subprime mortgage left its trail in both developed and developing countries. Thus, an elaborate analysis of the causal link among various innovative instruments highlighting a mismatch between academic doctrine and real-life perspective and the inadequacy of the institutional arrangements supposed to tame the volatility of the market may be a useful guide to financial analysts and policy planners. The purpose of this paper is to highlight systemic gaps in the meltdown and redefine the contour of macroeconomics most appropriate to weather such catastrophe in the future.     

Monetary and fiscal policies' effect on agricultural growth: GMM estimation and simulation analysis

The concept of sustainable economic growth is closely linked with the agricultural growth. This is especially true in the context of under-developed countries. Pakistan is a typical under-developed country that has huge labor force employed in conventional rural economy and more than half of the population relies on agriculture for subsistence. The study examines the agricultural growth through developing a model using the data from agricultural sector of Pakistan for the period 1972–2010. The model is primarily based on input–output reduced form structural equations approach. It is then estimated by GMM, validated and used for deterministic simulation analyses. Finally the validated model is used to critically analyze the impact of fiscal, monetary and energy policies on the agricultural output. We conluded that recent fiscal and monetary policies should be continued, while the energy policy needs to be modified in order to improve the agricultural GDP and reduce the rural poverty situation in the country.     

The internationalization of competition policy: implications for international business

In the post–Uruguay Round World Trading System and with the creation of the World Trade Organization (WTO), a new set of agendas on the governance of the world economy has emerged. Among them are the relationship between trade and social policy, trade and the environment, and trade and competition policy. These issues are new in the sense that policymakers have, until now, avoided drawing direct‐policy linkages between them. The main reason for this is that traditionally social and competition policies have been domestic policy domains that international policymakers were prevented from influencing. While environmental policy has been subject to several international negotiations, the link between trade and the environment has been relatively under‐discussed in the GATT. Moreover, there have been few international agreements that have drawn a direct link between trade and the environment.¹ The focus of this paper is the relationship between trade and competition policy. In particular, this paper seeks to address the issues related to international competition policy and the concerns and problems faced by international business in this context. ¹ An exception being the agreement on trade in endangered species (CITES). © 2000 John Wiley & Sons, Inc.     

Aggregate insider trading: Contrarian beliefs or superior information?

We decompose realized market returns into expected return, unexpected cash-flow news and unexpected discount rate news to test the relation between aggregate market returns and aggregate insider trading. We find that (1) the predictive ability of aggregate insider trading is much stronger than what was reported in earlier studies, (2) aggregate insider trading is strongly related to unexpected cash-flow news, (3) market expectations do not cause insider trading contrary to what others have documented, and (4) aggregate insider trading in firms with high information uncertainty is more likely to be associated with contrarian investment strategy. These results strongly suggest that the predictive ability of aggregate insider trading is because of insider’s ability to predict future cash-flow news rather than from adopting a contrarian investment strategy. These results hold even after we control for non-informative trades and information uncertainty.