Business, Marketing, and Finance Open

The Impact of Credit Policies on the Credit Risk of Bank Lending in the Iraqi Banking System

Razzaq Altufaili iD , Mohammad Nadiri ^* iD , Asgar Noorbakhsh iD , Sayed Hamid Joshaghani iD

Credit risk has been one of the most significant challenges facing the Iraqi banking system, influenced by the economy’s dependence on oil revenues, weaknesses in informational and institutional infrastructure, and the dual structure of public and private banks. The present study aimed to investigate the impact of credit policies on reducing the risk of bank loans in the Iraqi banking system. In terms of purpose, this research was applied, and in terms of methodology, it employed a descriptive–analytical design with a mixed quantitative and qualitative approach. In the quantitative component, data from 33 banks over the 2015–2024 period were examined, comprising 330 bank-year observations. In the qualitative component, 12 semi-structured interviews and 98 valid questionnaires were analyzed. Data analysis was conducted using a fixed-effects panel model, robust generalized least squares (GLS) estimation, a dynamic generalized method of moments (GMM) model, and three-stage coding. The results showed that the composite credit policy index had a negative and statistically significant effect on the non-performing loan ratio (β = -0.128, p < .01). Capital adequacy, return on assets, economic growth, and oil prices also had risk-reducing effects, whereas inflation and unemployment increased credit risk. The findings further indicated that the effect of credit policies was stronger in private banks than in public banks, while weaknesses in post-lending monitoring, inadequate credit information infrastructure, and technological underdevelopment were among the most important challenges. Overall, the results demonstrated that coordinated improvement of credit policies, together with the strengthening of institutional and informational infrastructure, could lead to a significant reduction in credit risk in the Iraqi banking system.

Predicting Corporate Financial Performance Using an Adaptive Neuro-Fuzzy Inference System Algorithm

Saeid Hooshmand iD , Morteza Bavaghar ^* iD , Hamid Rostamijaaz iD , Mohammad Hossein Ranjbar iD , Hossein Kamrani iD

The present study aimed to predict financial performance using an Adaptive Neuro-Fuzzy Inference System (ANFIS) algorithm. The study was conducted using an exploratory mixed-methods approach (qualitative–quantitative). In the qualitative phase, the fuzzy Delphi technique was employed with the participation of 10 academic and executive experts in the capital market to identify, prioritize, and screen variables affecting financial performance from a large pool of potential indicators. In the quantitative phase, data from 160 companies listed on the Tehran Stock Exchange over the 2016–2024 period (1,440 firm-year observations) were extracted and analyzed using ANFIS to predict “stock price return.” The validity of the final model was assessed through two approaches: quantitatively, by evaluating its generalization accuracy using 421 test observations, and qualitatively, through expert judgment using a validation questionnaire. The fuzzy Delphi results led to the identification of 19 key variables in four categories: financial (7 indicators), economic (6 indicators), social (3 indicators), and macro-environmental (3 indicators). Furthermore, evaluation of the ANFIS model indicated that it explained 75.8% of the variance in stock price return. A comparison of actual and predicted values for 15 selected companies also confirmed that the model successfully tracked the overall trend in returns, although prediction errors increased slightly at extreme values. Accordingly, ANFIS demonstrated satisfactory and practically useful accuracy in predicting financial performance.

Dual Continuity Leadership: Sustaining Information Systems and Business Continuity for Innovation and Resilience in High-Tech Firms

Amir Moslemi ^* iD

This study aimed to examine the direct and indirect effects of dual continuity leadership on organizational innovation and organizational resilience through information systems continuity and business continuity in high-tech firms. This quantitative, applied, cross-sectional study used a descriptive-correlational and explanatory design. The statistical population consisted of managers, supervisors, information technology specialists, research and development employees, and professional staff working in high-tech firms in Tehran, Iran. A total of 384 participants were included through a multistage sampling procedure. Data were collected using a structured questionnaire assessing dual continuity leadership, information systems continuity, business continuity, organizational innovation, and organizational resilience. Construct validity was examined through confirmatory factor analysis, while reliability was assessed using Cronbach’s alpha and composite reliability. Data analysis included descriptive statistics, Pearson correlations, confirmatory factor analysis, and structural equation modeling. Indirect effects were assessed using bootstrapping with bias-corrected confidence intervals. Dual continuity leadership significantly predicted information systems continuity (β = 0.62, p < .001) and business continuity (β = 0.59, p < .001). Information systems continuity significantly predicted organizational innovation (β = 0.31, p < .001) and organizational resilience (β = 0.26, p < .001), while business continuity significantly predicted organizational innovation (β = 0.22, p = .001) and organizational resilience (β = 0.42, p < .001). Dual continuity leadership also had significant direct effects on organizational innovation (β = 0.21, p = .001) and organizational resilience (β = 0.19, p = .002). Bootstrapping confirmed significant indirect effects through both continuity mechanisms, supporting partial mediation. The model explained 42.7% of the variance in organizational innovation and 51.6% of the variance in organizational resilience. Dual continuity leadership appears to strengthen innovation and resilience in high-tech firms by simultaneously sustaining critical information systems and essential business processes, indicating that integrated continuity-oriented leadership can function as both a protective and adaptive strategic capability.

A Comparative Study of Internal and External Auditors’ Perceptions of the Impact of Information Technology Adoption on Audit Quality

Hossein Fakhari ^* iD , Mohammad Najm Abdulamir Albandar iD

The rapid development of information technology (IT) plays a significant role in enhancing the accuracy and efficiency of audit processes; however, realizing these benefits depends on auditors’ perceptions and acceptance of such technologies. Accordingly, the primary objective of the present study was to examine the effect of the acceptance and use of information technology on audit quality and to comparatively assess the perceptions of independent and internal auditors based on the Technology Acceptance Model (TAM). In terms of purpose, this study was applied research, and in terms of research method, it employed a descriptive–survey design. The statistical population consisted of 1,200 auditors working in Iraq, including 700 independent auditors and 500 internal auditors. Using Cochran’s formula, a sample of 291 participants (170 independent auditors and 121 internal auditors) was selected through stratified random sampling. Data were collected both in person and online using a standardized questionnaire based on Davis’s Technology Acceptance Model (1989) and a five-point Likert scale. The data were analyzed using structural equation modeling (SEM) and the Mann–Whitney U test. The structural model results indicated that the acceptance and use of information technology had a positive and statistically significant effect on audit quality in both populations (p < .05). Among independent auditors, perceived ease of use (β = .336) had a stronger effect on audit quality than perceived usefulness (β = .274), whereas among internal auditors, perceived usefulness (β = .432) played a more prominent role in enhancing audit quality than perceived ease of use (β = .122). Furthermore, the Mann–Whitney U test indicated a statistically significant difference between internal and independent auditors in their perceptions of the effect of information technology on audit quality (p < .05). The findings demonstrate that although the application of information technology improves audit quality, auditors’ perceptual priorities differ according to their professional roles: independent auditors place greater emphasis on the ease of use of technological tools, whereas internal auditors focus more strongly on their usefulness and operational efficiency. Therefore, audit firms and organizations should develop user-friendly technological infrastructures while designing and implementing training programs tailored to the distinct needs of each group.

Optimal system design and optimal budget models in the presence of interval data

Mohammad Pouryusef iD , Ghasem Tohidi ^* iD , Masoud Sanei iD , Farhad Hosseinzadeh Lotfi iD , Shabnam Razavyan iD

This paper develops an interval data envelopment analysis (DEA) framework for optimal system design (OSD) and optimal budget determination. Classical OSD DEA models generally assume that input and output data are known precisely. In many applications, however, production data are affected by measurement error, incomplete records, forecasting uncertainty, or managerial judgment and are therefore more realistically represented by lower and upper bounds. To address this issue, the present study extends profit-maximizing OSD DEA models to the case of interval input and output data. The proposed formulation enables a decision-making unit (DMU) to determine an economically desirable input-output configuration under a given budget when benchmark data are imprecise. The study also develops a complementary procedure for determining the optimal budget and for identifying budget congestion in the interval-data setting. In this framework, budget congestion occurs when forcing a DMU to consume a budget above the optimal level reduces profit rather than improving performance. The models are formulated as deterministic linear programming problems and can therefore be solved using standard optimization software. A numerical example with ten DMUs, three inputs, and two outputs is used to illustrate the applicability of the proposed approach. The results show that the interval OSD framework provides a practical decision-support tool for profit-oriented resource allocation when production data are not exactly known.

The Role of Dual Holders in Enhancing Information Transparency: An Analysis of Their Impact on Accounting Information Disclosure with Emphasis on the Moderating Role of Corporate Governance

Reza Majidi iD , Meysam Foroghi Abari ^* iD , Zohreh Zivdar iD

The purpose of this study is to examine the effect of dual holders on accounting information disclosure, with particular emphasis on the moderating role of corporate governance monitoring mechanisms. Accounting information disclosure, as one of the most important mechanisms for reducing information asymmetry and enhancing capital market transparency, plays a critical role in investors’ decision-making. In this context, dual holders—investors who simultaneously hold both the equity and debt of a firm—may exert a substantial influence on corporate disclosure policies because of their access to private information and their enhanced influence over management. The statistical population of the study consisted of 105 companies listed on the Tehran Stock Exchange during the period 2015–2023. The data were analyzed using panel-data techniques and multivariate regression models. The findings indicate that dual holders have a positive and significant effect on accounting information disclosure; specifically, as the ownership concentration of dual holders increases, the quality of information disclosure improves. The results further demonstrate that corporate governance monitoring mechanisms significantly strengthen the positive effect of dual holders on information disclosure. These findings suggest that, when accompanied by an effective corporate governance system, dual holders can function as a complementary monitoring mechanism that enhances corporate information transparency and reduces information asymmetry. Based on the findings, it is recommended that capital market policymakers strengthen corporate governance mechanisms and improve the transparency of ownership structures in order to facilitate more effective utilization of the monitoring capacity of dual holders.

Iranian Managers’ Perceptions of the Independent Audit Report: A Qualitative Study Based on Thematic Analysis

Maryam Farmanesh iD , Heydar Mohammadzadeh Salteh ^* iD , Ebrahim Navidi Abbaspour iD

This study aimed to develop a qualitative thematic model explaining how Iranian managers perceive, interpret, and respond to independent audit reports, with particular attention to the conditions shaping interpretation, the strategies used to resolve ambiguity, and the consequences of this interpretive process. This qualitative study employed an exploratory–interpretive design and thematic analysis. Participants were purposively selected from accounting and auditing experts and senior managers of companies listed on the Tehran Stock Exchange. Data were collected through in-depth semi-structured interviews lasting approximately 65–90 minutes and were audio-recorded and transcribed verbatim with participants’ consent. Data analysis followed the six-phase thematic analysis approach, including familiarization with the data, initial coding, generation of themes, review of themes, definition and naming of themes, and preparation of the analytical report. Coding was conducted iteratively, and methodological rigor was strengthened through independent coding of a sample of interviews, comparison between coders, consensus-based resolution of discrepancies, and documentation of the analytical process. The findings revealed an integrated interpretive model consisting of six dimensions: causal conditions, the central phenomenon, contextual conditions, intervening conditions, strategies and interactions, and consequences. Unusual audit content functioned as a threshold trigger that shifted managers from routine reading to active interpretation. The central interpretive task involved decoding the seriousness and practical meaning of audit opinions. Organizational structures, especially active audit committees and access to financial expertise, facilitated understanding, whereas individual accounting knowledge, regulatory pressure, trust in the audit firm, and prior experience shaped interpretive responses. Managers used direct auditor communication, referral to specialists, selective reading, and organizational meetings to resolve ambiguity. These processes influenced decision quality, audit literacy, and trust in the auditing process, while accumulated experience created a gradual learning feedback loop. Managers’ understanding of independent audit reports is a dynamic and iterative process shaped by textual signals, individual expertise, organizational context, institutional pressures, interaction with professional intermediaries, and cumulative learning; therefore, improving audit-report usefulness requires attention not only to technical accuracy but also to comprehensibility and interpretive support.

What Mortality-Reminder Experiments Identify About Motives: Partial Identification and the Economic Value of Motive Evidence

Hamed Mohammadpour iD , Ghahreman Abdoli ^* iD

Under standard design conditions, randomization identifies a mortality-reminder assignment effect on a prespecified economic choice, not why choice changed. The analysis separates this effect from arm-marginal changes in theory-indexed practical content and individual component transitions. Inferring noninstrumental concern for a specified other's good or the actor's own good requires defensible cross-arm alignment and four bridges: content, choice, measurement, and causal order. Under the paired-construction closure condition, other-good and self-good specifications can generate the same arm-specific observable-law family. Valid aligned component marginals yield sharp marginal Fréchet bounds on individual transitions, but not the joint transition law. Narrowing the supported state set may inform without changing action; motive evidence has economic decision value only if it changes a prespecified prediction, transport conclusion, policy ranking, minimax-regret choice, or welfare conclusion. A consequential-giving construction shows states sharing one baseline choice law can reverse the ranking of beneficiary-impact versus public-recognition fundraising policies. The dated, search-bounded map contains 221 records from 121 works. Of 93 source-version records in a post hoc five-gate audit, 18 records from 13 works met all criteria. Because the audited studies lack a common estimand, results are not pooled or vote-counted; the audited evidence supports no domain-general shift toward altruism or self-regard. The proposed eight-cell giving design varies cue, beneficiary impact, and truthful publicity; an actor-return-substitute follow-up tests prespecified causal-order predictions after independent validation that the substitute generates the targeted actor return. Under valid exclusions and decision-calibrated precision, the design can discriminate among economic-component restrictions; neither design point-identifies unrestricted practical motives.

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Designing an Intelligent Financial Reporting Framework Based on Generative Artificial Intelligence (AI-FRS): A Step Toward Self-Adaptive Accounting Standards

Examining the Effect of the Developed Investment Efficiency Model on Disclosure Tone and Financial Reporting Readability: A Study of Companies Listed on the Tehran Stock Exchange

Analysis of the Performance of Modern Derivative Pricing Models in the Tehran Stock Exchange

The Interactive Effect of Foreign Direct Investment and Human Capital on Export Diversification in Selected Member Countries of the Organization of Islamic Cooperation

Presenting an Investment Decision-Making Model in the Financing Market Considering Information Distortion (A Case Study of Knowledge-Based Companies)

A Comparative Analysis of the Role of Audit Partners in Preventing Material Misstatements Arising from Fraud in Financial Statements: A Grounded Theory Study in Iran and Iraq

Development of the Cognitive Flexibility Framework of Auditors: A Qualitative Thematic Analysis Approach

The Effect of Environmental Information Disclosure on Cash Flow Volatility with the Moderating Role of Firm Size and Ownership Structure

Threshold Effects of Financial Development in the Relationship Between Unemployment Rate and Economic Growth Across Provincial Regions

Analyzing the Impact of Robotic Process Automation (RPA) on Audit Quality and Auditors’ Skills

Proposing a Model of Management Accountants’ Networking and Strategic Management Accounting with the Moderating Role of Information System Quality

Presenting a Model of Intellectual Capital Influencing Profitability Returns

The Role of News and News Sentiment in Systematic Risk Dynamics and Asset Pricing: A Systematic Review

The Impact of Joint Audit Engagement on Corporate Cost Stickiness: The Moderating Role of Environmental Uncertainty and Board Independence

Designing a Dynamic Model for Predicting the Sales of New Electronic Products in the Iranian Market

The Role of Fundamental Factors in Optimal Stock Portfolio Formation Using the Fama–French Five-Factor Model with an Emphasis on Data Mining: Evidence from Pharmaceutical Companies Listed on the Tehran Stock Exchange

The Effects of Political Influence, Institutional Quality, and Central Bank Intervention on Banking Stability During Recession and Expansion: A Markov-Switching Approach

Graph-Oriented Artificial Intelligence: An Integrated GNN–RAG–KG–LLM Architecture for Developing Trustworthy Enterprise Artificial Intelligence

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