University of Tehran PressInterdisciplinary Journal of Management Studies2981-079519120251208Graph Theory in Action: Forming an Investment Portfolio (A Case Study: Selected Companies of Tehran Stock Exchange)11910188710.22059/ijms.2025.362745.676068ENFatemehZareiDepartment of Finance and Accounting, Humanities Faculty, Meybod University, Meybod, Iran0000-0002-1853-5914MarziyehNourahmadiDepartment of Financial Engineering, Hazrat-e Masoumeh University, Qom, Iran0000-0002-3766-5589Journal Article20230723The research aims to integrate portfolio theory and graph theory to explore the relationship between specific network properties and the diversification problem in forming stock portfolios. The stock portfolio formation process is described using graph theory. The study utilizes stock-adjusted final price data from 138 companies listed on the Tehran Stock Exchange between January 1, 2019, and July 6, spanning 918 trading days. The data is partitioned with 80% as in-sample and 20% as out-of-sample data. A proximity matrix is employed to analyze stock relationships, leading to the construction of diversified and non-diversified portfolios using an optimal threshold. Machine learning techniques and hierarchical risk parity are used to select stocks for the portfolio. The performance is compared with the minimum variance approach and the total index benchmark for both in-sample and out-of-sample periods. The Sharpe ratio evaluates the performance of both diversified and non-diversified portfolios. The findings suggest that the non-diversified approach outperforms during market crashes, while diversified portfolios perform better during other periods. Hence, diversifying the stock portfolio is unsuitable during market crashes due to strong direct correlations among stocks, causing simultaneous declines. Alternative strategies should be considered following market crashes.https://ijms.ut.ac.ir/article_101887_eec532741c9652688a152855096376d9.pdfUniversity of Tehran PressInterdisciplinary Journal of Management Studies2981-079519120251208Improving the Performance of SMEs in the Food Industry: The Effects of Strategic Learning, Strategic Innovation, and Strategic Agility21399878010.22059/ijms.2024.371318.676497ENShahrokhBeigiDepartment of Management, Faculty of Management and Economics, University of Guilan, Rasht, Iran0000-0001-6458-6360MohsenAkbariDepartment of Management, Faculty of Management and Economics, University of Guilan, Rasht, Iran0000-0003-1884-6656MostafaEbrahimpour AzbariDepartment of Management, Faculty of Management and Economics, University of Guilan, Rasht, Iran0000-0003-0410-6374SeidmehdiVeisehDepartment of Management, Ilam University, Ilam. Iran0000-0001-7769-2701Journal Article20240202The present study aims to explore how strategic learning influences the performance enhancement of small and medium enterprises, with a focus on the mediating roles of strategic innovation and strategic agility, as well as the moderating role of absorptive capacity. This research is practical in its purpose and employs a descriptive survey method. The study's statistical population consists of small and medium enterprises in Ilam province. For this purpose, the sample size, consisting of 138 individuals, was calculated using G-Power software. SmartPLS 3 software was employed in the data analysis section to test the research model. The research findings showed that strategic learning, strategic agility, and strategic innovation enhanced the performance of small and medium enterprises. Furthermore, strategic innovation and strategic agility have a mediating role in the relationship between strategic learning and the performance of small and medium enterprises. Moreover, according to the results, the moderating role of absorptive capacity in the relationship between strategic learning, strategic agility, and the performance of small and medium enterprises was confirmed. Despite this, the type and amount of absorptive capacity in the studied statistical population is such that it cannot affect the intensity of the relationship between strategic innovation and the performance of small and medium enterprises. Based on the results, strategic learning can be considered a critical factor in achieving the successful performance of small and medium enterprises and its continuation. In addition, rapid changes and environmental dynamics are regarded as the most obvious features of the business environment in this era. Therefore, small and medium enterprises must have the ability to be agile and strategically innovative, as strategic agility and strategic innovation are the best approaches for adapting to environmental changes.https://ijms.ut.ac.ir/article_98780_50302545219e9be548c39a65b85a046b.pdfUniversity of Tehran PressInterdisciplinary Journal of Management Studies2981-079519120251208The Effects of Digital Financial Inclusion on Human Development in Developing Countries: Evidence from MM-QR with Fixed Effect415610496610.22059/ijms.2025.374206.676627ENKabiruKamaluDepartment of Management, Faculty of Business and Management, Universiti Sultan Zainal Abidin, Gong Badak, 21300, Kuala Terengganu, 21300, Malaysia0000-0001-7946-7567Wan Hakimah BintiWan IbrahimDepartment of Management, Faculty of Business and Management, Universiti Sultan Zainal Abidin, Gong Badak, 21300, Kuala Terengganu, Malaysia0000-0002-7505-1254UmarBalaDepartment of Economics, School of Business and Economics, University Putra MalaysiaJournal Article20240408This study examines the effect of digital financial inclusion on the conditional distribution of human development in 37 developing countries with available data from 2004 to 2021. The study uses the Method of Moment Quantile Regression (MM-QR) with a fixed effect that examines the effect of digital financial inclusion on the different levels of human development. The findings indicate that digital financial inclusion promotes human development, with a more significant impact in countries with very high human development. In addition, the findings indicate that high-quality governance enhances the positive effect of digital financial inclusion on human development. The results of this study were robust when we used the System Generalized Method of the Moment (SGMM) estimator. The study concludes that the effect of digital financial inclusion on human development varies in developing countries, depending on each country's level of human development. Policymakers should focus on policies that will speed up the digitalization process and increase access and coverage of digital financial services, such as mobile money, e-wallets, QR code payments, and blockchain technology, especially in countries with low and medium levels of human development.https://ijms.ut.ac.ir/article_104966_85c1a6f72607d18651f7015df0c9a07c.pdfUniversity of Tehran PressInterdisciplinary Journal of Management Studies2981-079519120251208The Impact of Despotic Leadership on Emotional Exhaustion: Mediating Role of Rumination and Moderating Role of Organizational Justice577210056610.22059/ijms.2024.374838.676661ENMula NazarKhanHailey College of Commerce, University of the Punjab, Lahore, Pakistan0009-0006-5412-8757IshfaqAhmedUniversity of Buraimi, Lahore, Pakistan0000-0003-1980-5872ZahidIqbalUniversity of Okara, Punjab, PakistanJournal Article20240408The aim of the current study is to investigate the impact of despotic leadership on emotional exhaustion with the mediating role of rumination and the moderating role of organizational justice. In this study, data were collected from the sales force of the banking industry through a questionnaire, while 284 valid responses were analyzed. The findings of the study reveal that despotic leadership has a positive effect on emotional exhaustion, while rumination partially mediates this relationship. Furthermore, organizational justice reduces the impact of despotic leadership on rumination. This study is novel in examining the mediating role of rumination between despotic leadership and emotional exhaustion. Additionally, the study also investigates the moderating role of organizational justice between despotic leadership and rumination, noting that there is a dearth of academic literature on the aforementioned associations. The conservation of resources theory supports the study findings.https://ijms.ut.ac.ir/article_100566_998c86da0adc8ecfc23ebea7d800449f.pdfUniversity of Tehran PressInterdisciplinary Journal of Management Studies2981-079519120251208Unveiling Organizational Rejuvenation: Insights from Fuzzy Interpretive Structural Modeling739410313410.22059/ijms.2025.377394.676778ENAlirezaBostaniFaculty of Entrepreneurship, University of Tehran, Tehran, IranMohammad RezaZaliAssociate Professor of Faculty of Entrepreneurship, University of Tehran, Tehran, Iran0000-0002-9293-7954AsadollahKordnaeijDepartment of Business Administration, Professor of Faculty of Management and Economics, Tarbiat Modares University, Tehran, Iran0000-0003-0540-6141NezameddinFaghihAdjunct Professor of Faculty of Entrepreneurship, University of Tehran.Tehran. IranJournal Article20240916This study examines organizational rejuvenation in Iranian textile companies and identifies its key elements through a literature review and the application of Fuzzy Interpretive Structural Modeling (FISM). Expert perspectives from the textile industry were collected to explore the relationships among these elements. FISM analysis revealed ten components of organizational rejuvenation, including modification of business processes, organizational restructuring, development of organizational capabilities, changes in leadership, entrepreneurial leadership development, rejuvenation of organizational culture, business rebranding, implementation of turnaround strategies, fostering entrepreneurial attitudes, and promoting product innovation. The study provided practical recommendations, including selecting and appointing entrepreneurial senior managers, attracting and recruiting leaders with more entrepreneurial behavior, rewarding innovative ideas, engaging with startup entrepreneurs, and establishing startup business acceleration centers. Moreover, the study suggested creating a brand book, revising core work processes, adopting new organizational structures, providing specialized training, divesting unused assets, and supporting textile industry startups. The study also proposed future research directions, such as developing a strategic alignment model, exploring organizational restructuring with a startup approach, investigating entrepreneurial organizational culture, and studying startup activities within rejuvenation efforts. This study contributes to the understanding of organizational rejuvenation, providing theoretical insights and practical guidance for Iranian textile companies. https://ijms.ut.ac.ir/article_103134_dab72802b58d1cb65519a3fa313ecb76.pdfUniversity of Tehran PressInterdisciplinary Journal of Management Studies2981-079519120251208Five Decades of Internal Audit Research9511910313210.22059/ijms.2025.384236.677115ENBitaMashayekhiDepartment of Auditing, Faculty of Accounting and Finance, College of Management, University of Tehran, Tehran, Iran0000-0003-4413-9939MiladSamavatDepartment of Accounting and Auditing, Faculty of Accounting and Finance, College of Management, University of Tehran, Tehran, Iran0000-0002-7026-5405KiarashBanagarDepartment of Finance, Faculty of Accounting and Finance, College of Management, University of Tehran, TehranJournal Article20241023This article offers a bibliometric analysis of published internal audit (IA) research between 1981 and 2025. Using the Web of Science (WoS) database and employing the Bibliometrix package in the R environment to analyze and map the bibliographic data, the study identifies the most influential authors, journals, countries, and research themes in this field. The results suggest that IA research has experienced rapid growth over the past five decades, emphasizing corporate governance, internal controls, audit committees, risk management, and the public sector. Other results of the bibliometric analysis indicate David A. Wood as the top author, “Managerial Auditing Journal” as the most prominent journal, the paper by Hay et al. (2006) as the most cited article, and the USA as the most influential country in the IA research field. Finally, there are discussions on the key insights and directions for future research, primarily based on the thematic map.https://ijms.ut.ac.ir/article_103132_1d04064d540beb34e0cc414561bc6f35.pdfUniversity of Tehran PressInterdisciplinary Journal of Management Studies2981-079519120251208A Machine Learning Approach to Assessing Audit Quality (AQ) in Company with Non-Switching Auditors: Extra Trees Classifier (ETC) Model12113510253310.22059/ijms.2025.384690.677133ENMostafaAbdiDepartment of Accounting, Khomein Branch, Islamic Azad University, Khomein, Iran0000-0002-4617-8379AzarMoslemiDepartment of Accounting, Khomein Branch, Islamic Azad University, Khomein, Iran0000-0001-5025-2984MohsenRashidiDepartment of Economic and Administration Science Faculty, Lorestan University, Lorestan, Iran0000-0001-8198-0415Journal Article20241111In this study, the authors utilize machine learning techniques to investigate the likelihood of a company switching auditors and examine whether the increased likelihood of switching is associated with audit quality (AQ) in Tehran stock exchange. This study aims to understand the impact of auditor switching on audit quality and employs adjusted restatements of financial statements (AudFailA, AudFailB) and a new modified report (NMR) as proxies to measure audit quality, based on the environmental conditions of the research. These findings indicate that companies with a higher likelihood of switching auditors, but ultimately deciding to stay with incumbent auditors, exhibit poor audit quality.https://ijms.ut.ac.ir/article_102533_78257e3ded5c6a3a8c94626745defaae.pdfUniversity of Tehran PressInterdisciplinary Journal of Management Studies2981-079519120251208Entrepreneurial Orientation and Digital Intellectual Dynamics Affecting Competitive Advantage and Firm Performance: The Case of Fruit and Vegetables Processing SMEs in Thailand13716810496710.22059/ijms.2025.385035.677145ENNapapachKaewkumpolDepartment of Business Administration, Faculty of Business, Economics, and Communication, Naresuan University, Phitsanulok, Thailand0009-0007-7498-4857VichayananRattanawiboonsomDepartment of Business Administration, Faculty of Business, Economics, and Communication, Naresuan University, Phitsanulok, Thailand0000-0003-4799-2775KritchaYawisedDepartment of Business Administration, Faculty of Business, Economics, and Communication, Naresuan University, Phitsanulok, Thailand0000-0002-3372-6081Journal Article20241108This study aims to analyze the impact of entrepreneurial orientation (EO) and digital intellectual dynamics (DID) on firm performance (FP), with competitive advantage (CA) as a mediating variable. The research used 387 valid responses collected from a survey of business owner, managers, and department heads of registered small and medium Enterprises (SMEs) in the processed fruit and vegetable sector across Thailand, which were analyzed using Structural equation modeling (SEM). Results revealed that EO and DID have a significant positive effect on FP; the effect of CA on FP was also significant. In addition, CA served as a partial mediator in the relationships between EO and FP, as well as DID and FP. This study strengthens the resource-based view (RBV) theory and expands knowledge on the role of DID in managing SMEs, paticularly in emerging economies. The findings suggest that EO and DID in SMEs enhance CA and improve performance by leveraging digital technologies to add product value, foster innovation, accelerate delivery, optimize resources, and increase employee satisfaction, ultimately driving growth and competitiveness on a larger scale.https://ijms.ut.ac.ir/article_104967_50580bcb536ab683eb7edfff89acaafe.pdfUniversity of Tehran PressInterdisciplinary Journal of Management Studies2981-079519120251208Towards a Comprehensive Justice Tourism Framework: Integrating Multidimensional Justice16918810186810.22059/ijms.2025.388968.677329ENTaherehShahiDepartment of Tourism Management, Allameh Tabataba’i University, Tehran, Iran0000-0002-6304-0590MahmoodZiaeeDepartment of Tourism Management, Allameh Tabataba’i University, Tehran, Iran0000-0001-8518-3640GholamrezaKazemianDepartment of Urban Management, Allameh Tabataba’i University, Tehran, Iran0000-0003-1708-5736RaymondRastegarDepartment of Tourism, Sport and Hotel Management, Griffith University, Brisbane, Australia & Centre for Research and Innovation in Tourism (CRiT), Taylor’s University, Selangor, Malaysia0000-0002-5794-2096Journal Article20250118The concept of justice in tourism has garnered increasing scholarly attention, yet its practical enactment remains underexplored. This study addresses three critical questions: What constitutes justice tourism? How can it be realized? And who bears responsibility for its implementation? Employing a meta-synthesis of the existing literature, the study develops a comprehensive framework that integrates the core processes, substantive dimensions, and enabling conditions of justice tourism, while also identifying the roles of key stakeholders. Justice tourism is conceptualized through the lenses of recognition, interactional, procedural, distributive, and restorative justice, with its substantive dimensions encompassing economic, social, political, cultural, environmental, and spatial justice. The study also interrogates the consequences of injustice within tourism systems. It highlights institutional, social, and individual capacities as foundational prerequisites for advancing justice in tourism. Moreover, it delineates the responsibilities of governments, public and private sectors, and civil society in fostering more equitable and inclusive tourism futures. By bridging theoretical insights with practical guidance, this research offers a structured and actionable approach for embedding justice into tourism planning and governance.https://ijms.ut.ac.ir/article_101868_8b3addd4b2aaea47d25ece6be251606f.pdfUniversity of Tehran PressInterdisciplinary Journal of Management Studies2981-079519120251208Performance-Based Budgeting Control and Implementation in the Public Sector: Towards Sustainable Development18920510212110.22059/ijms.2025.390483.677392ENPhamQuang HuyDepartment of Accounting, University of Economics Ho Chi Minh City0000-0002-5722-3462VuKien PhucDepartment of Accounting, Vinh Long Campus, University of Economics Ho Chi Minh CityJournal Article20250213This study investigates the crucial success variables of behavioral intention to adopt (BIA) in performance-based budgeting (PBB) within public sector organizations (PSOs). It also examines how BIA boosts organizational sustainability (OS) and organizational resilience (OR). Structural equation modeling was used to corroborate the hypothesized model based on data from surveys distributed to a sample of accountants in PSOs across two waves of data collection during the period of global lockdown and the new normal regime. Critical success variables and PBB implementation intention were positively correlated in terms of significance and effect magnitude. The findings also suggest that PBB could improve OS and OR. The insights from this analysis could help PSO executives recognize and seize resilient sustainable growth routes efficiently and effectively.https://ijms.ut.ac.ir/article_102121_76c0cd761ae0e081a738eb435e83c4ca.pdfUniversity of Tehran PressInterdisciplinary Journal of Management Studies2981-079519120251208The Gap Between International Financial Reporting Standards (IFRS) and the Local Unified Accounting System (UAS) and Its Impact on Disclosure20721910307410.22059/ijms.2025.392853.677538ENAhmed TaherKadhimTechnical College of Management
Technical College of Management Middle Technical University, Baghdad–Iraq
Baghdad - Iraq0000-0002-7692-1063Nada SalmanHabibCollege of Administration and Economics, Aliraqia University Baghdad – IraqAshraf HashimFaris AlabdoonCollege of Administration and Economics, Tikrit University Tikrit-Iraq0000-0002-2586-3617Journal Article20250407This research explores the differences between the Unified Accounting System (UAS) and the International Financial Reporting Standards (IFRS). Two methodologies were employed to achieve the research objective: A series of local studies highlighted deficiencies in the disclosure processes of companies operating under the local UAS. A comparative analysis of the key elements of financial statements was conducted under both UAS and IFRS, shedding light on the impact these differences have on accounting disclosure. The research findings indicate that adherence to the UAS leads to misleading financial reporting and fails to provide users with accurate, appropriate information. Furthermore, corporate governance is complicated by this disclosure gap, especially for businesses that are listed on the Iraq Stock Exchange (ISX). The absence of alignment with IFRS standards undermines transparency, potentially leading to suboptimal decision-making by investors and stakeholders in the ISX.https://ijms.ut.ac.ir/article_103074_8d183d52d6aa8334f5d6186a4398da23.pdfUniversity of Tehran PressInterdisciplinary Journal of Management Studies2981-079519120251208Medavers: A Digital Transformation Model for Media in the Metaverse22124610313310.22059/ijms.2025.395001.677621ENSeyedeh TaherehMousaviPhD Student in Media Management, Department of Media Management, Se.C., Islamic Azad University, Semnan, Iran0009-0000-3720-0610FarshadFaezy RaziAssociate Professor, Department of Industrial Management, Se.C., Islamic Azad University, Semnan, Iran0000-0002-9397-5645AbolfazlDanaeiAssociate Professor, Department of Media Management, Se.C., Islamic Azad University, Semnan, Iran0000-0001-9973-3877Journal Article20250209The emergence of the Metaverse challenges media organizations' sustainability and digital transformation, demanding a fundamental rethinking of governance and content ecosystems. Despite major media players entering this space, a native, integrated model for media digital transformation remains absent. Addressing this gap, this study proposes “MedaVers”—the first comprehensive model for digital transformation in the Metaverse—developed through Grounded Theory and Interpretive Structural Modeling. Based on interviews with 17 experts (qualitative phase) and causal analysis conducted by 11 experts (quantitative phase), the model comprises 19 key components structured in an eight-layer hierarchy across three dimensions: strategic drivers ('Strategy' and 'Integration'), 'Resilient Organizational Culture' as a central bottleneck, and a bidirectional ‘Content↔Business Intelligence’ loop optimizing UX via biometric data. Validated abductively through Actor-Network Theory, AI Marketing, and Media Convergence, the model emphasizes “post-data media.” It guides media managers from isolated tech initiatives toward engineering intelligent, human-centered systems via dynamic, three-dimensional frameworks and strategic leverage design.https://ijms.ut.ac.ir/article_103133_4a4904655410f50a87f72219b3907fd9.pdf