Journal of Technology in Entrepreneurship and Strategic Management (JTESM)

The Performance of Momentum and Reversal Strategies Under Conditions of Financial Stress and No Financial Stress

Mohammad Javad Abrishami * ; Alireza Moradi

, Babak Jamshidivand

, Mehrdad Ghanbari

In the financial market, two key indicators, risk and return, play a determining role in the investment decisions of various companies. Investors seek to choose options that offer maximum returns with minimal risk, and they aim to apply strategies to achieve excess returns and outperform the market. One of the important and widely used strategies among investors for selecting an optimal portfolio in financial markets is the momentum strategy. Therefore, the present study investigates the performance of momentum and reversal strategies under conditions of financial stress and no financial stress. In this regard, to compare the performance of the momentum strategy under conditions of no financial stress in both the short and long term, a paired t-test was used. The statistical hypothesis related to this part showed that if the cumulative abnormal return for the arbitrage portfolio is positive, purchasing stocks without financial stress in the short term and selling stocks without financial stress in the long term can generate positive abnormal returns. The results of the hypothesis testing showed that in all cases, except for the fifth portfolio, the significance level was smaller than the test level. In other words, for the first, third, and fourth portfolios, it can be claimed with high confidence that using the momentum strategy and purchasing stocks without financial stress in the short term and selling stocks without financial stress in the long term can generate positive returns. On the other hand, for the second portfolio, it can be claimed that using the momentum strategy and selling stocks without financial stress in the short term and purchasing stocks without financial stress in the long term can generate positive returns.

Designing a Qualitative Model of Procedural Justice for Teleworking Employees in the Public Sector

Seyed Mehdi Shirazi

; Davood Kia Kojouri *

; Azam Hajiaghajani

, Mahnaz Rahmati Kazaz

Procedural justice for teleworking employees in the public sector establishes a framework for fair behavior, enhances trust and engagement, increases job satisfaction, and ultimately contributes to a more effective and resilient organization. The main objective of this research is to design a qualitative model of procedural justice for teleworking employees in the public sector. The research design of this study is qualitative, utilizing a content analysis method. The study population consists of experts in public management who have conducted research in the fields of procedural justice and teleworking. The sampling method is snowball sampling, through which 15 individuals were interviewed. Data collection was carried out using semi-structured open interviews. To assess the validity of the instrument, content validity (by experts) and face validity were employed. Cohen’s kappa coefficient was used to validate the coding process and ensure the quality control of the questionnaire in the qualitative section. The findings revealed that the qualitative model of procedural justice for teleworking employees in the public sector includes justice and transparency in processes, infrastructure and support, performance management and productivity, organizational culture and interactions, and individual empowerment and development.

Conceptual Model of Sustainable Participation in Public Sports Using Meta-Synthesis Technique (With a Focus on Physical Fitness)

Sayyedmohammadhossain Razavi

; Saeideh Jamaat *

; Rasoul Tarighi

Identifying the factors influencing sustainable participation in public sports using the meta-synthesis technique is one of the various forms of meta-study approaches. In the present study, by employing a systematic review approach and qualitative meta-synthesis, the results and findings of previous researchers were analyzed. The conceptual model of factors affecting sustainable participation in sports was categorized through the seven-step process of Sandelowski and Barroso. Based on three-phase coding in the MAXQDA software, these factors were analyzed and classified into 7 main categories and 39 axial codes. To assess the reliability and control the quality of the present study, the Kappa method was used. The calculated Kappa coefficient by SPSS software was 0.940, indicating excellent agreement. The factors affecting sustainable participation in public sports include: awareness, public relations, validation, advertising, subculture, social class, and behavioral values and norms. Sustainable participation in public sports requires individuals who are actively involved in this field; therefore, individuals must be recruited who are experts both in planning and policymaking for public sports.

Measuring Innovation Success by Forecasting R&D Investment Using Financial Leverage

Elham Moghadamnia *

The aim of the present study is to investigate the impact of the success of R&D innovation on the relationship between R&D investment and financial leverage. This research is descriptive in nature and methodology, and it is applied research in terms of its objective. Given that this study analyzes the current status of variables using data collected from past information, it is classified as descriptive and ex post facto research. In conducting this study, two hypotheses were formulated. A sample of 115 companies was selected through systematic elimination sampling for a six-year period from 2017 to 2022. The collected data related to the research variables were analyzed using Excel and EViews software, version 10. The correlation results indicate that financial leverage has a negative relationship with R&D investment and a positive relationship with the market-to-book value ratio. The success of R&D is positively associated with R&D investment, and variance in profit and company size show a positive correlation with company performance. Additionally, the regression analysis results reveal that financial leverage alone has a significant negative effect on R&D investment. The success of R&D alone has a negative but non-significant effect on R&D investment. The interactive effect of financial leverage and R&D success is positive and significant, meaning that when companies achieve success in R&D, the negative effect of financial leverage on investment decreases. Other control variables, such as company size, company risk, company performance, etc., do not have a significant impact on R&D investment. Overall, the regression model is statistically significant. Generally, the findings indicate that the success of R&D activities can partially mitigate the negative impact of financial leverage on R&D investment. In summary, the results suggest that financial leverage alone has a negative effect on R&D investment, but when a company experiences R&D success, the negative effect of financial leverage diminishes.

Designing a Social Marketing Model to Strengthen Sustainable Consumer Behavior (Case Study: Aryan Kimiatech Company)

Mohammad Reza Momenirad

, Mohammad Valiabidgoli *

, Ali Hamidizadeh

The present study aimed to design a social marketing model to enhance sustainable consumer behavior within Aryan Kimiatech Company. This research, by nature, was exploratory. The research population in the qualitative section comprised selected articles from both domestic and international databases, as well as academic experts and marketing specialists at Aryan Kimiatech Company. The research tool was an interview, reaching saturation with 20 experts. In the quantitative section, the statistical population included all marketers selling Aryan Kimiatech products, and a simple random sample of 100 individuals was selected. In the qualitative part, the researcher initially identified factors affecting social marketing to promote sustainable consumer behavior by conducting interviews with experts and reviewing existing documents and articles. This stage identified 80 indicators categorized into five main dimensions and 16 sub-dimensions. In the second step, the interpretive structural modeling method was applied. Within this study, the economics and market management component, including competitive market strategy, market assessment, market management, and influencer marketing, was confirmed. Managerial factors, including strategy, external management, customer relationship management, and interactive factors, were validated. Technology and innovation factors, comprising needs assessment and ideation, innovation and creativity in work, technological infrastructure, and practical applications, were also confirmed. Financial and human capital factors, including company engineering economics, communication skills, human resource empowerment, and a sustainable supply chain, were verified. Advertising, branding, and service quality factors, including social and digital media advertising, branding, and service quality improvement, were confirmed. Ultimately, the proposed model was designed and validated.

Capacity Building for the Implementation of Artificial Intelligence in Public Organizations

Somayeh Alemipasand

, Elham Farahani *

In recent years, artificial intelligence (AI) has emerged as a remarkable phenomenon, creating a massive transformation globally and becoming a necessary condition for the development and progress of both private and public organizations. The successful implementation of any project requires capacity building, which involves identifying needs, challenges, capabilities, and strengthening systems along the path to development. Accordingly, the aim of this research is to identify the necessary capacities for the implementation of AI in public organizations and to propose a comprehensive model for this. Using a qualitative method based on grounded theory, 15 academic experts and public sector managers were selected through snowball sampling and responded to the research questions through semi-structured interviews. In the data analysis, using thematic analysis and open coding, 10 overarching themes, 36 organizing themes, and 66 basic themes with varying degrees of recurrence were identified. Based on the research findings, effective and successful AI implementation in public organizations requires attention and action in several areas: resource and infrastructure provision, policy-making and planning, data management, strengthening human resources, inter-organizational interactions, governance commitment, enhancing organizational culture, socialization, supervision and evaluation, and innovation. Each of these areas includes organizing and foundational themes necessary for implementation. In conclusion, a comprehensive model for AI capacity building was presented for use by public organizations and public management.

Developing a Framework for Attracting Sports Investors with an Economic-Social Security Approach

Hassan Humayun

; Javad Mohammadkhani *

; Kazem Cheraghbirjandi

, Azam Babakirad

The aim of this study was to develop a framework for attracting sports investors with an economic-social security approach. The research method was qualitative, utilizing the grounded theory approach. The statistical population of the study included two sections: human resources (specialists, economists, including university professors in the field of economics and economic experts working in ministries, as well as sports management faculty members familiar with the area of economic-social security) and informational resources (scientific, library, and credible media sources). Interviewees and informational resources were purposefully selected in sufficient numbers, based on reaching theoretical saturation (18 individuals and 31 documents). The research tools included semi-structured exploratory interviews along with a systematic library review. The validity of the tools was evaluated and confirmed based on practical competency, legal and scientific credibility of the sample, expert opinions, and inter-rater agreement. To analyze the findings, a multi-stage conceptual coding method (open, selective, and axial coding) with a thematic analysis approach was used. The final conceptual framework identified 44 components, 11 dimensions, and 5 overall perspectives. The general themes and perspectives were interconnected in a chain, encompassing causal conditions, contextual factors, intervening factors, central phenomena, strategies, and outcomes. Based on the study's findings, it can be concluded that attracting sports investors will improve and increase financial resources in sports, and if investments are made correctly and with awareness, they will yield good financial returns for the respective investors.

Presenting a Customer-Centric Banking Services Model in Refah Bank Using a Structural Equation Modeling Approach

Farshad Amirijobani

; Hassan Esmailpoor *

; Kambiz Shahroodi

Given the high importance of customer-centricity, especially in the banking industry, the main objective of this study is to design a customer-centric banking services model at Refah Bank. Various studies have addressed different aspects of customer-centricity within the banking industry; however, the design of a customer-centric banking services model has not been explored. Therefore, this research aims to present a model of influential factors and outcomes in designing a customer-centric banking services model at Refah Bank using a structural equation modeling approach. This study is applied in terms of its objective and descriptive in terms of its nature and methodology. Additionally, from the perspective of data collection, it is a survey research. The statistical population consists of senior managers of each branch (branch manager, deputy manager, and head of accounting) and top customers of each branch. Six questionnaires were distributed at each branch, with responses obtained from three managers and three top customers per branch. The total number of Refah Bank branches in Tehran is 134. Given that six questionnaires were distributed per branch, the total population size is 804 individuals. According to Morgan's table, the sample size for this section is 260 individuals, with the researcher distributing questionnaires 10% above this number among the targeted sample. Notably, the sampling method used in this study is non-probability convenience sampling. The data collection tool used in this study was a questionnaire, with content validity and construct validity applied to assess validity. Content validity was evaluated based on feedback from several business management and marketing professors. To assess reliability, Cronbach's alpha coefficient and composite reliability were utilized, both of which were confirmed. Structural equation modeling with a partial least squares approach was used to test the research hypotheses. Based on the results, all research hypotheses were supported.

About the Journal

The "Journal of Technology in Entrepreneurship and Strategic Management" is a scientific publication dedicated to the development and promotion of a culture of innovation management, technology in entrepreneurship, artificial intelligence in strategic management, identifying issues, challenges, and solutions in this field within organizations. It aims to elevate the level of research, accelerate the flow of ideas, produce and disseminate knowledge, and provide an appropriate platform for exchanging experiences and publishing the latest scientific achievements in innovation management and organizational behavior on a national and international level. The journal publishes high-quality and original scientific articles in the field of innovation management. Submitted articles undergo a specialized review process and are published upon approval by the editorial board.

The scientific-research "Journal of Technology in Entrepreneurship and Strategic Management" has achieved a Grade B ranking from the Journal Evaluation Commission of the Ministry of Science, Research, and Technology.

Language: Persian with English abstracts/English full text

Publication Frequency: Quarterly

Editor-in-Chief:

Publisher: KMAN Publication Inc. (KMANPUB)

Status: Active

Peer Review: Yes

Access Type: Open Access (OA)

License Type: CC-BY-NC

Publication Fee: Free

Full Text Access: Open Access

Revenue: Publication fee received

Publication Type: Periodical (Quarterly)

Professors and researchers are requested to register on the journal's website, prepare their articles according to the author guidelines, and submit them to the journal. Thus, there will be no need for in-person visits or phone calls to the journal's office, as all communications with authors and reviewers will be conducted through this system.

The journal welcomes all articles resulting from scientific research (especially methodical qualitative research) in various areas related to technology and innovation management, entrepreneurship, artificial intelligence and strategic management, organizational behavior, industrial-organizational psychology, and human resources. Referencing up-to-date sources and conducting a systematic literature review that covers a broad range of topics relevant to the article are of great importance to the journal. Additionally, providing appropriate analyses and achieving novel and innovative results will prioritize the submitted article for publication.

Current Issue

Vol. 3 No. 4 (2024): Serial Number 10

Published: 2024-10-09

پژوهشی اصیل

Analysis of Success and Failure Factors of Sports Startups and Entrepreneurs in Developing Countries

Mohsen Akbari

, Mehdi Naderinasab *

, Seyyed Abbas Biniaz

1-13
- PDF
https://doi.org/10.61838/kman.jtesm.3.4.1
Designing a Model for National Banks’ Support to Foster Entrepreneurial Behavior in Small and Medium-Sized Enterprises

Arman Karimi

, Parviz Saketi *

, Arash Hadizadeh

14-36
- PDF
https://doi.org/10.61838/kman.jtesm.3.4.2
Identification and Ranking of Entrepreneurial Development Indicators with an Industrial Employment Approach for University Graduates Using Meta-Synthesis Approach

Mohammad Hassan Naqdi

, Hasan Dehghan Dahnavi *

, Mohammad Taghi Honari

, Mohammadreza Dehghani Ashkezari

, Abolfazl Sadeghian

37-52
- PDF
https://doi.org/10.61838/kman.jtesm.3.4.3
Measuring the status of audit documentation indicators by using Internet-based technologies

Paniz Peyvandi

, Amir Yalfani *

, Naghi Fazeli

53-71
- PDF
https://doi.org/10.61838/kman.jtesm.3.4.4
Factors Affecting Municipal Revenues and Expenses (Case Study: Tabriz Municipality)

Jafar Dashti

, Asgar Pakmaram *

72-83
- PDF
https://doi.org/10.61838/kman.jtesm.3.4.5
Investigating the Impact of Export Market Orientation on the Success of Successful Exporting Companies through the Role of Competitive Intelligence

Mohammad Sadeq mohammadi

, Behrooz Ghasemi *

, Soheil Sarmad Saeedi

84-98
- PDF
https://doi.org/10.61838/kman.jtesm.3.4.6
Factors Influencing the Labor Relations System in Knowledge-Based Organizations (Engineering Companies Affiliated with the Ministry of Defense and Armed Forces Support)

Shokrollah Atai Nasab

, Mashalah Valikhani *

, Seyed Ahmad Hosseini Gol Afshani

99-114
- PDF
https://doi.org/10.61838/kman.jtesm.3.4.7
Designing a Communication Model Based on Digital Communications to Foster Customer Loyalty

Seyed Issa Emad

, Mohammad Abbaszadeh *

, Mehrann Samadi

, Samad Sabbagh

115-132
- PDF
https://doi.org/10.61838/kman.jtesm.3.4.8
Analysis of the Impact of Cultural Changes and Macroeconomic Changes on the Economic Recession of Handicrafts in Shiraz, Emphasizing the Mediating Role of Marketing Factors and Industrial Production Growth

Eshrat Badr

; Gholamreza Jafarinia *

; Ensie Mahini

133-150
- PDF
https://doi.org/10.61838/kman.jtesm.3.4.9
Predicting Corporate Financial Distress Using a Hybrid Model of Artificial Immune System and Wavelet Neural Network (Artificial Intelligence)

Reza Mehrabi

; Mahmoud Hematfar *

; Farid Sefati

151-171
- PDF
https://doi.org/10.61838/kman.jtesm.3.4.10
Presenting and Validating an Educational Equity Model Based on Information and Communication Technology with a Blended Learning Approach in Education

Fariborz Kalantari

, Maryam Eslampanah *

, Susan laei

, Sahar mohammadi

172-187
- PDF
https://doi.org/10.61838/kman.jtesm.3.4.11
Designing a Human Resource Development Model in Iran's National Football with a Grounded Theory Approach

Mazdak Jalalpour Barforosh

, Morteza Dosti Pasha *

, Saeed Amirnejad

188-207
- PDF
https://doi.org/10.61838/kman.jtesm.3.4.12
Optimizing Bank Profitability Model Considering the Role of Modern Banking Technologies

Hossein Mostafapour

, Mohammadali Keramati *

, Safia Mehrinejad

, Mehrzad Minoui

225-239
- PDF
https://doi.org/10.61838/kman.jtesm.3.4.14
Identifying the Dimensions and Components of Consumer Arousal in Digital Marketing and the Mediating Role of Sales Promotion Strategies Using a Mixed Method (Case Study of Digikala and Instagram Sales Customers)

Shabnam Malekian

, Mehrani Hormoz *

, Hamidreza Saeednia

, Zahra Alipour Darvishi

240-259
- PDF
https://doi.org/10.61838/kman.jtesm.3.4.15
Presenting the Interactive Control System Model in Knowledge-Based Companies

Hamed Malekizadeh

, Tahmoras Hasangholipour Yasori *

, Mohammad Haghighi

260-278
- PDF
https://doi.org/10.61838/kman.jtesm.3.4.16
Presenting a Model for Determining Key Performance Indicators of the Insurance Industry on the Development of the Entrepreneurial Ecosystem Using the Panel Data Approach in Selected Countries (2010-2020)

Asma Saadatmand

, Ebrahim Negahdari *

, Mohammad Mohabi

279-290
- PDF
https://doi.org/10.61838/kman.jtesm.3.4.17
Designing a Sustainable Supply Chain Agility Model in the Oil and Gas Industry of Bushehr Province Using a Mixed Approach

Roohollah Nemati

, Ahmad Jafarnejad Chaghooshi *

, Hannan Amoozad Mahdiraji

291-306
- PDF
https://doi.org/10.61838/kman.jtesm.3.4.18
Designing Development Strategies for a Blockchain-Based Ecosystem in the Service Delivery Chain: A Case Study of a Defense Service Organization

Afshin Alipour

, Saeed Arab Panahi *

, Komeil Mahjoori

307-330
- PDF
https://doi.org/10.61838/kman.jtesm.3.4.19
Presenting a Strategic Agility Model Focused on Innovation in Exporting Companies of Gilan Province

Rashid Shadab Jouposhti

; Seyyed Mahmoud Shebgo Monsef *

; Yalda Rahmati Ghofrani

, Kambiz Shahroudi

, Mohammad Taleghani

331-347
- PDF
https://doi.org/10.61838/kman.jtesm.3.4.20
Conceptual Model of Sustainable Participation in Public Sports Using Meta-Synthesis Technique (With a Focus on Physical Fitness)

Sayyedmohammadhossain Razavi

; Saeideh Jamaat *

; Rasoul Tarighi

348-362
- PDF

View All Issues

Journal of Technology in Entrepreneurship and Strategic Management (JTESM)

The Performance of Momentum and Reversal Strategies Under Conditions of Financial Stress and No Financial Stress

Designing a Qualitative Model of Procedural Justice for Teleworking Employees in the Public Sector

Conceptual Model of Sustainable Participation in Public Sports Using Meta-Synthesis Technique (With a Focus on Physical Fitness)

Measuring Innovation Success by Forecasting R&D Investment Using Financial Leverage

Designing a Social Marketing Model to Strengthen Sustainable Consumer Behavior (Case Study: Aryan Kimiatech Company)

Capacity Building for the Implementation of Artificial Intelligence in Public Organizations

Developing a Framework for Attracting Sports Investors with an Economic-Social Security Approach

Presenting a Customer-Centric Banking Services Model in Refah Bank Using a Structural Equation Modeling Approach

About the Journal

Current Issue

پژوهشی اصیل

Analysis of Success and Failure Factors of Sports Startups and Entrepreneurs in Developing Countries

Designing a Model for National Banks’ Support to Foster Entrepreneurial Behavior in Small and Medium-Sized Enterprises

Identification and Ranking of Entrepreneurial Development Indicators with an Industrial Employment Approach for University Graduates Using Meta-Synthesis Approach

Measuring the status of audit documentation indicators by using Internet-based technologies

Factors Affecting Municipal Revenues and Expenses (Case Study: Tabriz Municipality)

Investigating the Impact of Export Market Orientation on the Success of Successful Exporting Companies through the Role of Competitive Intelligence

Factors Influencing the Labor Relations System in Knowledge-Based Organizations (Engineering Companies Affiliated with the Ministry of Defense and Armed Forces Support)

Designing a Communication Model Based on Digital Communications to Foster Customer Loyalty

Analysis of the Impact of Cultural Changes and Macroeconomic Changes on the Economic Recession of Handicrafts in Shiraz, Emphasizing the Mediating Role of Marketing Factors and Industrial Production Growth

Predicting Corporate Financial Distress Using a Hybrid Model of Artificial Immune System and Wavelet Neural Network (Artificial Intelligence)

Presenting and Validating an Educational Equity Model Based on Information and Communication Technology with a Blended Learning Approach in Education

Designing a Human Resource Development Model in Iran's National Football with a Grounded Theory Approach

Optimizing Bank Profitability Model Considering the Role of Modern Banking Technologies

Identifying the Dimensions and Components of Consumer Arousal in Digital Marketing and the Mediating Role of Sales Promotion Strategies Using a Mixed Method (Case Study of Digikala and Instagram Sales Customers)

Presenting the Interactive Control System Model in Knowledge-Based Companies

Presenting a Model for Determining Key Performance Indicators of the Insurance Industry on the Development of the Entrepreneurial Ecosystem Using the Panel Data Approach in Selected Countries (2010-2020)

Designing a Sustainable Supply Chain Agility Model in the Oil and Gas Industry of Bushehr Province Using a Mixed Approach

Designing Development Strategies for a Blockchain-Based Ecosystem in the Service Delivery Chain: A Case Study of a Defense Service Organization

Presenting a Strategic Agility Model Focused on Innovation in Exporting Companies of Gilan Province

Conceptual Model of Sustainable Participation in Public Sports Using Meta-Synthesis Technique (With a Focus on Physical Fitness)

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