the aim of this research was to measure the relative efficiency of forest management plans in north of iran. in order to fulfill the research, data of 12 forest management plans were collected from the financial balance sheets of shafaroud forest company during a ten years period. first of all, basic data envelopment analysis (dea) models (bcc and ccr) were used to determine the efficiency. the...

This paper investigates the effect of the 2008 financial crisis on informational efficiency by carrying out a long-memory analysis of European corporate bond markets. We compute the Hurst exponent for fifteen sectorial indices to scrutinise the time-varying behaviour of long-range memory, applying a shuffling technique to avoid short-term correlation. We find that the financial crisis has uneve...

Let Xi (i = 1, 2, . . .) be a sequence of subexponential positive independent and identically distributed random variables. In this paper we offer two alternative approaches to obtain higher-order expansions of the tail of ∑n i=1 Xi and subsequently for ruin probabilities in renewal risk models with claim sizes Xi. In particular, these emphasize the importance of the term P( ∑n i=1 Xi > s,max(X...

From 1980 to 1999, rural designated hospitals closed at a disproportionally high rate. In response to this emergent threat to healthcare access in rural settings, the Balanced Budget Act of 1997 made provisions for the creation of a new rural hospital--the critical access hospital (CAH). The conversion to CAH and the associated cost-based reimbursement scheme significantly slowed the closure ra...

This research attempts to investigate the effect of financial constraints and different levels of agency costs on the investment efficiency of companies in Iran. Following the design of the financial risk assessment indexes, the transaction information was collected from the Stock Exchange in the five-year period of 2011-2015. The statistical sample consists of 128 companies selected by samplin...