Since 1984 Iranian banks has been operating under Islamic principles. This paper investigates dynamics of loans and the difficulties that Iranian banking system was facing. During the period of Islamic banking in Iran, banks experienced a significant increase in the supply of loans. Many factors have affected the behavior of banks in lending operations, the most important of which include rate ...

Mississippi forest landowners were surveyed to determine average discount rates or “hurdle rates”—the lowest rates of return they consider acceptable—for 3 nonforestry investments, and for 5, 15, and 25 yr forestry investments. The survey included 829 individuals who owned at least 20 ac of uncultivated land and had harvested timber during a recent 5 yr period; survey results are therefore orie...

Nowaday, Corporate Socially Responsible (CSR) mutual funds are becoming a popular investment option for investors. However, no any research confirms whether CSR Mutual fund activity is better than market index or not. Besides, we should have one method can help con sequently investors in making the decision to select appropriate investment funds. In this study, we measure the financial performa...

Poor households worldwide rely on savings groups (SGs) to satisfy their financial needs, yet very little is known about these groups’ ability to meet them. In this paper we develop a theoretical model illustrating the basic trade-offs in the functioning of SGs, and present stylized facts derived from the financial accounts of a sample of Ugandan SGs. The main conclusion from the theoretical mod...

Multifactor funds, which offer risk factor diversification, have several appealing characteristics. They enable investing in factors, has become a typical way to enhance portfolio’s long-term risk-adjusted return; they provide exposure more than one factor, enables diversification; and these benefits neatly packaged product. What’s not like? Their performance. Although their track record is lim...

Hedge fund databases vary as to the type of funds to include and in their classification scheme. Investment strategy and/or investment style are the basis for classification. Considerable variation is observed in the definitions, return calculation methodologies, and assumptions. There exists a myriad of classifications, some overlapping and some mutually exclusive. There is a need for an ‘alte...

We study a hedge fund style contract in which management fees, incentive fees and a high water mark provision drive a fund manager’s effort and risk choices as well as walkaway decisions by both the fund manager and the investor. We model this relationship and calibrate the model to observed data. The model yields empirical predictions regarding the impact of a fund’s distance from the high wat...

T he number of mutual funds has grown dramatically in recent years. The Financial Research Corporation data base, the source of data for this article, lists 7,734 distinct mutual fund portfolios. Mutual funds are now the preferred way for individual investors and many institutions to participate in the capital markets, and their popularity has increased demand for evaluations of fund performanc...