DOCSLIB.ORG

Tehran Stock Exchange Annual Report 2010

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Tehran Stock Exchange Annual Report 2010 Tehran Stock Exchange Annual Report 2010 1 Mission Statement To develop a fair, efficient and transparent market equipped with diversified instruments and easy access in order to create added value for the stakeholders. Vision To be the region's leading Exchange and country's economic growth driver. Goals 1. To increase the capital market's share in financing the economic productive activities. 2. To apply the effective rules and procedures to protect the market's integrity and shareholders' equity. 3. To expand the market with the use of updated and efficient technology and processes. 4. To promote financial literacy and develop investing and shareholding culture in Iran. 5. To extend and facilitate the market access through information technology. 6. To create value for shareholders and comply with transparency and accountability principles, with cooperation and interaction of stakeholders. 7. To develop constantly intellectual assets and human resources of the company. 2 TSE at a Glance Trading Days Saturday to Wednesday Hours 9:00 to 12:00 System Automated ‐ order driven Mechanisms Opening auction ‐ continuous auction Market maker Arbitrary Instruments Shares & Rights, Participation Certificates, Stock futures Currency Local (Rial) Real time information Bid/ask, Prices, Indices, Companies' announcements, Trading volume and value Clearing and Settlement Central Depository Central Securities Depository of Iran (CSDI) Period T+3 Settlement Book entry Clearing Netting Margin/lending No Taxes Dividend No tax Capital gain No tax Transfers (paid by seller only on shares) %0.5 Trading Commissions 3 Buyer (%) Seller (%) SEO 0.04 0.06 TSE 0.032 0.048 Broker 0.4 0.4 Clearing Fee 0.028% 0.042% Total 0.5 1.05 Structure and Regulations Legal Demutualized (not listed) Regulations Self‐regulated under SEO supervision Foreign investment Yes (according to foreign investment by‐law) Minimum Listing Requirements Main market Secondary market Main board Secondary board Paid‐in capital (Billion Rials) 1000 500 200 Years of Business Activity 3 3 3 Free float ratio (%) 20 15 10 # of shareholders 1000 750 250 profit‐making 3 2 1 operating periods ended the listing date Equity to total assets ratio (%) 30 20 15 4 Content: CEO's message 6 Economic conditions 7 Introduction 9 TSE Performance 11 Market Achievement 29 Future Outlook 30 Corporate Governance 31 Financial Statement 34 Brokers 61 Mutual Funds 65 Issuers 66 5 CEO Message In 2010, in the continuation of 2009 growth, Iranian capital market showed a considerable boom. In this year all indices had appositive trends as compared to the previous years. In this year, market capitalization, value traded and the number of trades reached 89,7491,217 million Rials, 198,146,067 million Rials and 3.4 million times respectively. Goals and strategies decided by the board of directors and executives in the line of soundness, transparency and liquidity of the market as well as promotion of financial literacy and development of investment culture paved the way of growth and development of the market, attracted the general confidence of the investors, and created value added for the stakeholders. To increase market liquidity, in 2010, TSE has taken actions to obtain fair and liquid markets; enacted, approved and made operative the new trading rules; defined a new method for block trading; increased daily price fluctuation for shares and rights; executed opening auction mechanism for halted shares; defined a new index as 30 large cap companies; launched future market; and developed regulations for online access of investors to the market. In order to attract new companies to be listed, TSE has made some efforts in marketing, admitting, listing and offering of companies subject to article 44 of the Constitution (privatization), and more tax exemption for listed companies, as well as more transparency of prospectuses. Also, some efforts have been made for development of market awareness and promotion of financial literacy through targeted training courses, books, web sites and TV programs in order to help people to make informed participation in the capital markets. In order to develop the capital market and facilitate access to it through information technology, some actions have been taken such as developing DMA, improving the website, and developing a trading system for futures market. The main plans of TSE in 2010-2011 are to enhance mechanisms of market surveillance and provide monitoring software, to develop and promote derivatives market, to launch fixed income securities market, to develop financial system, and to use legal opportunities for listing new companies. 6 Economy Indicators Description Land area 1.6 million square kilometers population 74.7 million Active Population (2010, Q2) 24.2 million Capital City Tehran life expectation at birth 72 Unemployment Rate (2010, Q2) 14.6 percent GDP(PPP) 8,473,058 million Rials GDP real growth rate 3% GDP per capita (PPP) 112.5 million Rials Inflation rate (consumer prices) 15.8 Exports 1,055,192 billion Rials Exports commodities Petroleum, chemical and petrochemical products, fruits and nuts, carpets import 680,709 billion Rials import commodities Industrial raw material and intermediate goods, capital goods, foodstuff and other customer goods, technical services Current accounts balance (percent of GDP) 4.2 M2/GDP 70% MC/GDP 34 Sep 2010: 1$=10350 Rials Sources: www.CBI.ir, www.Worldbank.org, www.IMF.org 7 Events Annual General Meeting Annual general meeting of TSE was held. 20 Apr Financial statements were approved and dividend per share was decided as 200 Rials. Auction Mechanism for Auction mechanism for symbols with no price limit 8 May Unlimited Price Symbols was performed. Road Show in Dubai A road show was held for more introduction of 19 June investment opportunities in companies listed in TSE to foreign investors. Online Trading Online trading was initially provided for direct access 4 Jul of all shareholders. Changes in Price Limit In order to increase liquidity and the capital market 8 Jul depth, price limit of share and stock right increased from 3.5% to 4% and 7% to 8% respectively. Future Contracts Market The future contracts market was opened. 25 Jul Opening IPO of Dana Insurance 5% shares of Dana Insurance, as equivalent to 17 Aug 5,273,750 shares, were offered initially. Calculation of 30 Large 30 large cap index was issued formally for the first 23 Aug Cap Index time. Extraordinary General The extraordinary general meeting was held in order Meeting for 100% capital increase from 150 billion IRR to 7 Oct 300 billion IRR from retained earnings and prudential reserve. Extraordinary General The extraordinary general meeting was held in order 7 Oct Meeting for appointment of the board of directors' members. IPO of Postbank 5% shares of Postbank, as equivalent to 28,057,150 2 Nov shares, were offered initially. IPO of Tabriz Oil 5% shares of Tabriz Oil Refining, as equivalent to 13 Nov Refining 97,105,275 shares which belong to NIOPDC was offered initially. IPO of Parsian Insurance 5% shares of Parsian Insurance Co., as equivalent to 14 Nov 55,000,000 shares, were offered initially. Appointment of TSE as TSE was appointed for the first time as the chairman 13 Dec the Chairman of FEAS of FEAS working committee. Working Committee Approval of the New The New Rule of Securities Trading approved on 22 Dec Trading Rule 2010,12,4 became operative from 2010,12,22 on. 9 IPO of Iran Alloy Steel 5% shares of Iran Alloy Steel Co., as equivalent to Mar.2011 65,150,000 shares, were offered initially. 8 Market Performance The following table shows the general performance of Securities market in 2010-2011. Total returns on investment reached 68.2% in 2010, which has been one of the highest real rates of returns among other WFE members and investment in the economy of Iran, as compared to returns on other investment opportunities. Also in the period, TSE showed the most capitalization and value traded. In 2010, the total value traded by TSE with 16.7% increase reached 198,146 billion Rials, the average daily value traded of TSE had an increase of 14.8%, the number of transaction with a growth of 65% reached 2732 thousand times, and the market capitalization of TSE amounted as 897,491 billion Rials indicated 46.5% growth. In 2010, TEDPIX (the total return index of TSE) increased from 45598 at the beginning of the year to 767.3 at the end of the year, which indicates a 68.2% average return on investments in TSE. Other indices in TSE also showed a considerable growth. This indicates an even price increase in all market sectors. Free float share index with the base figure of 10000 had nearly 72% growth in 2010. Price increase and dividend account for respectively 42% and 26.2% of total index increase in 2010. Market capitalization of TSE in 2010, with 46.5% increase, reached 86.69 billion dollars at least. As market capitalization increased, market capitalization to GDP ratio also increased up to 22.8%. Among listed industries, monetary intermediation, basic metals, Post and Telecommunication Company and Motor Vehicles and auto Parts holdings account for 18%, 15%, 13% and 8% of market capitalization respectively. The share value traded in TSE during 244 business days in 2010 reached 19,139 million US Dollars, with 10.2% increase as compared to the previous year. It is a new record for TSE. In 2010, among listed industries, Motor Vehicles And Auto Parts, Monetary intermediations(banks) and Basic Metals account for the most value traded as 21%, 15% and 13% of total value respectively, while, in 2009, Telecommunication , Monetary intermediations(banks) and pharmaceuticals with respectively 49%, 20% and 6% of total value traded accounted for the first 3 ranks in the market.
Load more

Recommended publications
  • An Assessment of Valuation Methods of Stock Initial Public Offerings on Tehran Stock Exchange
    International Journal of Academic Research in Business and Social Sciences 2017, Vol. 7, No. 4 ISSN: 2222-6990 An Assessment of Valuation Methods of Stock Initial Public offerings on Tehran Stock Exchange Mohammad Kheiry 1, Sima Golozar 2,*, Ali Amiri 3 1 Department of Economic, Accounting and Management, Payam Noor University, Tehran, Iran. Kheiry Email: [email protected] 2,* Postgraduate student of Financial Management, Qeshm Institute for Higher Education, Qeshm, Iran. Email: [email protected] 3 Department of Accounting, college of human science, Bandar Abbas, Islamic Azad University, Bandar Abbas, Iran. Email: [email protected] DOI: 10.6007/IJARBSS/v7-i4/2822 URL: http://dx.doi.org/10.6007/IJARBSS/v7-i4/2822 Abstract Every day hundreds of companies all over the world are entering capital market for the first time by issuing stocks. By doing so, they decide to invest capital necessary for continuing activity and expanding operations accordingly. For this reason, it is important to the companies that price specified for their stock demonstrate real value of assets and their growth and development opportunities in the future. The purpose of this research is to study valuation methods of stock initial public offerings at the Tehran Stock Exchange. Population and study sample consisted of firms publicly offered their stocks for the first time at Tehran Stock Exchange during 2009-2014, and experienced no trading halt, i.e. 45 companies of which seven companies were eliminated due to lack of trading on the stock exchange and 38 firms were chosen. The research method is correlational-descriptive and the research is an applied research by purpose.
    [Show full text]
  • Biden, Congress Should Defend Terrorism Sanctions Imposed on Iran
    Research memo Biden, Congress Should Defend Terrorism Sanctions Imposed on Iran By Richard Goldberg, Saeed Ghasseminejad, Behnam Ben Taleblu, Matthew Zweig, and Mark Dubowitz January 25, 2021 During a Senate Foreign Relations Committee hearing to consider Antony Blinken’s nomination for secretary of state, Blinken was asked whether he believed it is in America’s national security interest to lift terrorism sanctions currently imposed on Iran, including sanctions targeting Iran’s central bank, national oil company, financial sector, and energy sector. “I do not,” Blinken responded. “And I think there is nothing, as I see it, inconsistent with making sure that we are doing everything possible – including the toughest possible sanctions, to deal with Iranian support for terrorism.”1 Bipartisan support for terrorism sanctions targeting Iran goes back to 1984, when the United States first designated the Islamic Republic as a State Sponsor of Terrorism. Since then, every U.S. president2 – Republican or Democrat – and Congress have taken steps to reaffirm U.S. policy opposing Iran’s sponsorship of terrorism and tying sanctions relief to Iran’s cessation of terror-related activities. President Joe Biden has pledged to rejoin the 2015 Iran nuclear deal, formally known as the Joint Comprehensive Plan of Action (JCPOA), if Iran returns to “strict compliance” with the agreement.3 Terrorism sanctions on Iran, however, should not be lifted, even if the Biden administration opts to return to the deal, unless and until Iran verifiably halts its sponsorship of terrorism. This memorandum provides an overview of Iran’s past and ongoing involvement in terrorism-related activities, a review of longstanding bipartisan congressional support for terrorism sanctions on Iran, and a list of terrorism sanctions currently imposed on Iran that should not be lifted.
    [Show full text]
  • Impact of Speculative Bubble on Stock Returns in Companies Listed on Tehran Stock Exchange
    Advances in mathematical finance Published by IA University of & applications, 3 (4), (2018), 115-127 Arak, Iran DOI: 10.22034/AMFA.2019.553492.1089 Homepage: www.amfa.iau- arak.ac.ir Impact of Speculative Bubble on Stock Returns in Companies Listed on Tehran Stock Exchange Soheil Ali, Hadi Yazdi* Department of accounting, Faculty of Management, Islamic Azad University, Arak,Iran ARTICLE INFO ABSTRACT Article history: Recent studies show that individual investors tend to speculate on stock markets Received 2 November 2017 and hold shares with a lottery-like return. For this speculation of people have a Accepted 10 October 2018 significant impact on stock returns, individual investors must trade the same shares with the same time. The purpose of this study was to investigate the effect Keywords: of the speculative bubble on the stock returns of companies in Iran. Following the stock returns design of the speculative bubble specification indexes, the transaction information speculative bubbles was collected from the stock market in the five-year period from 2011 to 2015 and market downswing a sample of 106 companies was selected by systematic elimination method, which totaled 530 year-company. In this research, linear regression and correlation anal- ysis were used to analyze the hypotheses of the research. To analyze the data and test the hypotheses, Eviews software was used. What can be said in the summing- up and conclusion of the general test of research hypotheses is that there is a spec- ulative bubble in the Tehran Stock Exchange index. In addition, the speculative bubble has an impact on stock returns, and this effect has been confirmed in con- ditions of market boom and downswing.
    [Show full text]
  • Preparing a Venture Capital Term Sheet
    Preparing a Venture Capital Term Sheet Prepared By: DB1/ 78451891.1 © Morgan, Lewis & Bockius LLP TABLE OF CONTENTS Page I. Purpose of the Term Sheet................................................................................................. 3 II. Ensuring that the Term Sheet is Non-Binding................................................................... 3 III. Terms that Impact Economics ........................................................................................... 4 A. Type of Securities .................................................................................................. 4 B. Warrants................................................................................................................. 5 C. Amount of Investment and Capitalization ............................................................. 5 D. Price Per Share....................................................................................................... 5 E. Dividends ............................................................................................................... 6 F. Rights Upon Liquidation........................................................................................ 7 G. Redemption or Repurchase Rights......................................................................... 8 H. Reimbursement of Investor Expenses.................................................................... 8 I. Vesting of Founder Shares..................................................................................... 8 J. Employee
    [Show full text]
  • List of Iran Certified Companies
    List of Iran Certified Companies COMPANY EA SCHEME CERTIFICATE ICIM CERTIFICATE IQNET CURRENT ISSUE CERTIFICATION SCOPE Production and assembly of polymer parts (Blow Molding and Abzar Andisheh Co 14-22a ISO/9001 6440/0 IT-83411 28/02/2013 Injection). Manufacturing of aluminium profiles by extrusion and sizing Abzar Andisheh Co 14-22a ISO/TS 6449/0 01/03/2013 operations for automotive applications. Production of metal parts dashboard reinforcement bracket, door Alborz,s Respina Industry Co. 17-22a ISO/TS 6531/0 09/05/2013 brake and mud guard bracket for automotive sector. Production of Metal Parts: Dashboard reinforcement bracket, door brake and Mud guard bracket. Alborz,s Respina Industry Co. 17 ISO/9001 6569/0 IT-83559 09/05/2013 Dashboard reinforcement bracket, door brake and Mud guard bracket. Production and assembly of metal parts by casting, Amitis Automotive Parts Ltd Co. 17-22 ISO/TS 7371/0 18/12/2014 welding, painting process. Production and assembly of metal parts by casting, Amitis Automotive Parts Ltd Co. 17 ISO/9001 7372/0 18/12/2014 welding, painting process. AYEGH HESSAR MEHRAN Co. 19 ISO/9001 6943/0 IT-93599 05/02/2014 Production of Pre-Made Water Proofing Membranes of Building. Assembly of CNG Cylinders and Manufacturing of Brackets for Arasbaran Ghateh Shargh Co. 17 ISO/9001 6786/0 IT-83761 07/10/2013 Automotive Sector. Assembly of CNG Cylinders and Manufacturing of Brackets for Arasbaran Ghateh Shargh Co. 17-22a ISO/TS 6787/0 07/10/2013 Automotive Sector. Production and Assembly of Radio Tape, CD/MP3 Player, Plastic and Aria Afzar Shiraz Co.
    [Show full text]
  • 13661 Sunday MAY 10, 2020 Ordibehesht 21, 1399 Ramadan 16, 1441 U.S
    WWW.TEHRANTIMES.COM I N T E R N A T I O N A L D A I L Y 12 Pages Price 40,000 Rials 1.00 EURO 4.00 AED 42nd year No.13661 Sunday MAY 10, 2020 Ordibehesht 21, 1399 Ramadan 16, 1441 U.S. ridicules TEDPIX notches Beiranvand shortlisted Lebanese publisher Dar Al international law record high, hitting for AFC Player Hadaek acquires rights to 2 one million points 4 of the Year 2020 11 Persian book “The Boxer” 12 Zarif to Guterres: U.S. trying illegal See page 9 paths to reverse Resolution 2231 TEHRAN – In a letter addressed to UN (A/72/869-S/2018/453), I would like to Secretary General Antonio Guterres, For- bring to your attention several matters eign Minister Mohammad Javad Zarif has related to the unlawful withdrawal of the elaborated on the U.S. violation of the 2015 United States of America from the Joint nuclear deal – JCPOA - and gross violation Comprehensive Plan of Action (JCPOA) of the UN Charter in a continuous manner. and the unlawful imposition of its uni- Following is an excerpt of his letter lateral sanctions against the people and published on the Foreign Ministry website government of the Islamic Republic of on Saturday: Iran in clear violation of its obligations Further to my letter of 10 May 2018 under international law. 2 Iranian galleries prefer to continue lockdown in pandemic TEHRAN — Art galleries across Iran are the Persian service of ISNA on Saturday. allowed to resume activities during the new The Visual Arts Office of the Ministry of coronavirus pandemic, however, gallery Culture and Islamic Guidance has agreed since owners prefer to continue the lockdown April 20 that art galleries may reopen after an since there are no visitors, buyers, or dealers.
    [Show full text]
  • Dividend Reinvestment Plan Prospectus
    Prospectus Supplement (To Prospectus dated August 3, 2012) Common Stock ($1.00 Par Value) Dividend Reinvestment Plan This Prospectus Supplement (this “Prospectus Supplement”) relates to 1,400,000 shares of Common Stock, par value $1.00 per share (“Shares”), of Pitney Bowes Inc. (“Pitney Bowes” or the “Company”) registered for sale under the Company’s Dividend Reinvestment Plan (“Plan”). The description of the Plan contained in this Prospectus Supplement supplements, and to the extent it is inconsistent with, supersedes the description of the Plan in the accompanying prospectus. It is suggested that this Prospectus Supplement be retained for future reference. This Prospectus Supplement does not constitute an offer to sell or a solicitation of an offer to buy the securities covered by this Prospectus Supplement in any jurisdiction to any person to whom it is unlawful to make such offer or solicitation in such jurisdiction. We are not making an offer to sell or a solicitation of an offer to buy these securities in any circumstances in which such offer or solicitation is unlawful. You should rely only on the information incorporated by reference or provided in this Prospectus Supplement or any further prospectus supplement. We have not authorized anyone else to provide you with different information or to make additional representations. You should not assume that the information contained or incorporated by reference in this Prospectus Supplement or any further prospectus supplement is accurate as of any date other than the date on the front of those documents. Our Common Stock is listed on the New York Stock Exchange under the ticker symbol “PBI.” Investing in our Common Stock involves risks.
    [Show full text]
  • Investigating of Long-Term Performance the Stocksinitial Offeringin Tehran Stock Exchange
    Special Issue INTERNATIONAL JOURNAL OF HUMANITIES AND January 2016 CULTURAL STUDIES ISSN 2356-5926 Investigating of long-term performance the stocksinitial offeringin Tehran Stock Exchange Mohammad Ali Molazadeh Department of management Kerman branch islamic Azad University,Kerman,Iran Valiollah Shahbazkhani Department of economic Kerman branch Islamic Azad University, Kerman, Iran. Abstract The aim of this research was to investigate the long-term performance the stocksinitial offering in Tehran Stock Exchange. This research was a kind of study of library and analytical reason and it was based on the ordinary least squares method (analysis of data compilation).In this research the financial information of 24 companies listed on the Tehran Stock Exchange during the period 2010 to 2015 that they had been initial offering were investigated (144 companies - year). To analyze the obtain results of research was used the 12 Stata software. The research results relate to confirming the first hypothesis have shown that the warm and cold type of market in the relationship between the volume of shares offered with the lower valuation of fact have the significant positive impact.Also according to the analysis made in relation to reject the second hypothesis of research reached to this result that there is not a significant relationship between the number of companies that are initial offering with the valuation less than in fact of the Stocks in the previous period. In the following the research results in relate to confirming third hypothesis indicate that there is a significant relationship between the number of companies have Initial offering, with the kind of warm and cold market.Also according to the analysis conducted in relation to confirmation the fourth hypotheses of research conclude that there is a significant relationship between the grouped companies in the same industry in the initial offering with the kind of warm and cold market.
    [Show full text]
  • Federal Register/Vol. 85, No. 63/Wednesday, April 1, 2020/Notices
    18334 Federal Register / Vol. 85, No. 63 / Wednesday, April 1, 2020 / Notices DEPARTMENT OF THE TREASURY a.k.a. CHAGHAZARDY, MohammadKazem); Subject to Secondary Sanctions; Gender DOB 21 Jan 1962; nationality Iran; Additional Male; Passport D9016371 (Iran) (individual) Office of Foreign Assets Control Sanctions Information—Subject to Secondary [IRAN]. Sanctions; Gender Male (individual) Identified as meeting the definition of the Notice of OFAC Sanctions Actions [NPWMD] [IFSR] (Linked To: BANK SEPAH). term Government of Iran as set forth in Designated pursuant to section 1(a)(iv) of section 7(d) of E.O. 13599 and section AGENCY: Office of Foreign Assets E.O. 13382 for acting or purporting to act for 560.304 of the ITSR, 31 CFR part 560. Control, Treasury. or on behalf of, directly or indirectly, BANK 11. SAEEDI, Mohammed; DOB 22 Nov ACTION: Notice. SEPAH, a person whose property and 1962; Additional Sanctions Information— interests in property are blocked pursuant to Subject to Secondary Sanctions; Gender SUMMARY: The U.S. Department of the E.O. 13382. Male; Passport W40899252 (Iran) (individual) Treasury’s Office of Foreign Assets 3. KHALILI, Jamshid; DOB 23 Sep 1957; [IRAN]. Control (OFAC) is publishing the names Additional Sanctions Information—Subject Identified as meeting the definition of the of one or more persons that have been to Secondary Sanctions; Gender Male; term Government of Iran as set forth in Passport Y28308325 (Iran) (individual) section 7(d) of E.O. 13599 and section placed on OFAC’s Specially Designated [IRAN]. 560.304 of the ITSR, 31 CFR part 560. Nationals and Blocked Persons List Identified as meeting the definition of the 12.
    [Show full text]
  • DEPARTMENT of the TREASURY Office Of
    This document is scheduled to be published in the Federal Register on 11/17/2017 and available online at https://federalregister.gov/d/2017-24947, and on FDsys.gov DEPARTMENT OF THE TREASURY Office of Foreign Assets Control Notice of OFAC Sanctions Actions AGENCY: Office of Foreign Assets Control, Treasury. ACTION: Notice. SUMMARY: The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) is publishing the names of 41 persons whose property and interests in property are blocked pursuant to the Global Terrorism Sanctions Regulations, and whose entries on OFAC’s Specially Designated National and Blocked Persons List (SDN List) have been amended accordingly. All property and interests in property subject to U.S. jurisdiction of these persons are blocked, and U.S. persons are generally prohibited from engaging in transactions with them. DATES: See Supplementary Information section. FOR FURTHER INFORMATION CONTACT: OFAC: Associate Director for Global Targeting, tel.: 202-622-2420; Assistant Director for Sanctions Compliance & Evaluation, tel.: 202-622-2490; Assistant Director for Licensing, tel.: 202-622-2480; or the Department of the Treasury’s Office of the General Counsel: Office of the Chief Counsel (Foreign Assets Control), tel.: 202-622-2410. SUPPLEMENTARY INFORMATION: Electronic Availability The SDN List and additional information concerning OFAC sanctions programs are available on OFAC's Web site (www.treas.gov/ofac). Notice of OFAC Actions On June 6, 2003, OFAC issued the GTSR (68 FR 34196, June 6, 2003) to implement E.O. 13224. OFAC has amended the GTSR on several occasions. On August 2, 2017, the President signed into law the Countering America’s Adversaries Through Sanctions Act, Public Law 115-44, Aug.
    [Show full text]
  • 010 30060Nys090216 5
    New York Science Journal 2016;9(2) http://www.sciencepub.net/newyork Rating of firms involved in Tehran Stock Exchange based on the accounting and non-accounting criteria using Fuzzy Topsis method Abdollah Kaabi Department of Accounting, Persian Gulf International Branch, Islamic Azad University, Khorramshahr, Iran [email protected] Abstract: In this study, companies operating in the Tehran Stock Exchange based on accounting standards (which are directly derived from the Company's financial statement data) include: Cash conversion cycle, liquidity, capital structure, return on assets and the size of the company and also non-accounting criteria for performance evaluation include: Economic value added, Jensen's alpha, Sharpe Ratio and proportion Trainor, using Fuzzy Topsis method ranked and with ranking based on the Tehran Stock Exchange indices were compared and their correlation were obtained. The main objective of this study is to determine whether the company according to reports from Tehran Stock Exchange is ranked top among other companies, in ranking based on accounting and non-accounting criteria for evaluating the performance of other companies is higher or not. The research method used for this study was survey. To do the calculations and analyze the spreadsheet data software (Excel) and to test hypotheses 16 Spss and Spearman correlation coefficient was used. The results of hypothesis testing and correlation analysis shows that between ranking companies of Stock Exchange based on stock indexes and ranking based on accounting and non- accounting variables, there is a weak correlation and the ranking of the exchange only in terms of liquidity and return on assets, of accounting standards, and of non accounting standards with Jensen's alpha coefficient and Economic value added, there is a significant relationship.
    [Show full text]
  • Oceanfirst Financial Corp
    Broadridge DRP A Stock Purchase, Sale and Dividend Reinvestment Plan Administered by Broadridge Corporate Issuer Solutions, Inc . Ready for Next Broadridge Corporate Issuer Solutions, Inc. (“Broadridge”) is Questions and Answers pleased to administer and provide access to a Stock Purchase, Sale and How do I enroll in the Broadridge DRP? Dividend Reinvestment Plan (the “Plan”, or “DRP”), which offers a means by which existing registered shareholders who hold qualified, freely An existing investor can enroll in the Broadridge DRP online through our website tradable shares of the participating company, can purchase shares through simply by creating a profile and logging into its account. automatic dividend reinvestment as well as submit requests to buy or sell If preferred, you can enroll by completing and submitting an Enrollment Form shares through a registered broker-dealer, without opening a brokerage which can be obtained from our website or by contacting Broadridge and account. As administrator of the Plan, Broadridge is acting on behalf of the requesting a form to be mailed ( please refer to our “Contact Information” section Issuer. Broadridge is not acting as a broker-dealer and will not execute any below). purchase or sale on behalf of such persons. Rather, Broadridge will forward requests to purchase or sell such shares to a broker-dealer appointed by Minimum and maximum investment amounts, as well as any applicable fees, Broadridge, including possibly a broker-dealer affiliated with Broadridge, can be found in these Questions and Answers, Additional Terms and who will execute the transaction. Conditions and Fee Schedule. Broadridge will purchase (through a registered broker-dealer engaged by Broadridge (which may be an affiliate of Broadridge)) Prior to enrolling in the Plan, you should review and understand the whole shares and allocate fractional shares of a participating company’s stock Overview, Questions and Answers, Additional Terms and Conditions, and to equal the dollar amount of your investment, less any applicable fees.
    [Show full text]