Institute for Management and Planning studies 3115-7092 3115-7106 30 2 2025 9 1 Empirical Analysis of Herd Behavior in the Cryptocurrency Market: Evidence from COVID-19 and Social Media Influencers\' Messages 3 38 FA Sadaf Sharifi sharifisadaf00@gmail.com N Ali Mazyaki mazyaki@atu.ac.ir Y Reza Talbloo talebloo.r@gmail.com N 10.66224/eprj.30.2.3 The role of social media influencers in the cryptocurrency market, particularly when their messages have the potential to amplify herd behavior, is a complex and noteworthy topic. This study uses daily data from October 2019 to December 2022 to examine the impact of these influencers' messages, Federal Reserve news, and the volume of COVID-19 cases on herd behavior in the cryptocurrency market. The results show that herd behavior is more prevalent during market booms, while factors such as the spread of COVID-19 have strengthened anti-herding behavior during periods of crisis. Regarding the messages from influencers, daily fluctuations in these messages have been found to influence herd behavior, leading to greater alignment among investors during market booms. To address potential endogeneity, the study separated the data into boom and recession periods, although more precise research and caution in analyzing the effects of influencers' messages are needed to effectively manage herd behavior in cryptocurrency markets. Overall, the findings can help policymakers and market analysts gain a better understanding of herd behavior and design more effective risk management strategies in the cryptocurrency market. cryptocurrency, herding behavior, cross-sectional absolute deviation, capital asset pricing model http://eprj.ir/article-1-2338-en.html http://eprj.ir/article-1-2338-en.pdf

Institute for Management and Planning studies 3115-7092 3115-7106 30 2 2025 9 1 Factors Affecting Food Prices in D-8 Group Countries 39 54 FA Navid Kargar Dehbidi Assistant Professor, Economic, Social and Extension Research Department, West Azerbaijan Agricultural and Natural Resources Research and Education Center (AREEO), Urmia, Iran kargar.navid@yahoo.com Y Mansour Zibaei Professor of Agricultural Economics, Shiraz University, Iran zibae@shirazu.ac.ir N Mohammad Hassan Tarazkar Associate Professor of Agricultural Economics, Shiraz University, Iran Tarazka@shirazu.ac.ir N 10.66224/eprj.30.2.39 Food prices play a vital role in assessing food access. Rising food prices, along with declining real income and purchasing power, can increase household vulnerability, especially in developing nations. This study investigates the causes and factors contributing to price increases in D-8 group countries and develops strategies to enhance food security. The study focuses on Asian and African Islamic countries, which have varied climatic conditions impacting agriculture. Despite these differences, a substantial part of their populations faces food insecurity. In This study, according to stationary properties of the variables, the panel cointegration approach was applied. Also, based on the results of Pedroni and Kao cointegration tests, the short and long-run relationship was estimated by Error Correction Model (ECM) and Fully Modified Ordinary Least Square (FMOLS) respectively. The results indicate a long-term relationship between the variables studied and the food price index. In the long term, the exchange rate, energy prices, per capita income, money supply, and the trade balance of the agricultural sector contribute to increasing the food price index. Conversely, agricultural supply and the real interest rate decrease the food price index. As the signs of the model variables, it is suggested that in the time of macroeconomic policies and reforms, the effects of increasing exchange rates and energy prices on food vulnerability should be considered. Additionally, improving the agricultural sector's trade balance through appropriate infrastructure is essential. Furthermore, implementing a diversification policy in energy sources, such as the development of clean energy, can help reduce energy price fluctuations. Food price, Real exchange rate, Trade balance, Energy prices, Panel data, D-8 Group Countries http://eprj.ir/article-1-2369-en.html http://eprj.ir/article-1-2369-en.pdf

Institute for Management and Planning studies 3115-7092 3115-7106 30 2 2025 9 1 Examining the Factors Influencing the Human Development Index in Iranian Provinces 55 85 FA Ahmad bakhshi Associate Professor, Department of Political Science, Faculty of Humanities, Birjand University, Iran bakhshi@birjand.ac.ir N yaghob fatemi zardan Ph.D. in Economic, Economic expert, Economic and Financial Affairs Directorate General of South Khorasan province, Birjand, Iran yaghobfatemi0@gmail.com Y mehdi fatemi Ph.D. in Economics, International Trade, Management and Planning Organization of South Khorasan Fatemi042@yahoo.com N 10.66224/eprj.30.2.55 Human development is considered one of the new topics of development economics, which has received serious attention since the 90s. In this approach, the ultimate goal of development is for humans to enjoy a long and healthy life, education and knowledge acquisition and access to the necessary resources to realize their capacities. However, the fluctuations of economic variables can have many effects on human development, which are essential to investigate. Therefore, the purpose of this research is to investigate the effects of economic shocks on the human development index of Iran's provinces. For this purpose, to investigate the effects of economic shocks, the Bayesian Panel VAR model was used in MATLAB software during the period of 1995-2022. The research results showed that the shock of inflation rate, exchange rate and Gini coefficient have a negative effect and economic growth and household income have a positive effect on the human development index of the provinces. Also, the obtained results were significant for all provinces. In addition, the results of variance decomposition showed that after 20 periods, in all provinces (except Ilam), inflation or the Gini coefficient had the greatest impact on the human development index(except for the effect of the variable itself); and, household income in all provinces (except South Khorasan, Razavi Khorasan and North Khorasan) had the least effect on this index.   Human Development Index, Iran, Provinces, Economic Shock, Bayesian panel var, Matlab. http://eprj.ir/article-1-2297-en.html http://eprj.ir/article-1-2297-en.pdf

Institute for Management and Planning studies 3115-7092 3115-7106 30 2 2025 9 1 Effect of Government Spending in Different Sectors on Participation Rate in Iran 87 120 FA Ali Ghazizadeh Monfared University of Tehran alighazizade2@gmail.com Y Mohamad hossein Memarian Memarian.00@gmail.com N 10.66224/eprj.30.2.87 The budget mechanism in Iran has always been a subject of debate among experts. The government’s general budget is classified into two sections: revenue and expenditures. The expenditure section is divided into three parts: current expenditures, capital asset acquisition, and financial asset acquisition. Current expenditures and capital asset acquisition account for more than 90% of the government’s general budget expenditures. This paper investigates the impact of current expenditures and capital asset acquisition on the participation rate of different provinces in Iran, disaggregated by gender and type of expenditure, using a fixed-effects panel estimation model and annual data from 2008 to 2017. One of the features of this research that distinguishes it from previous studies in this field is the use of budget allocation control data in two sections: cost and capital asset acquisition, disaggregated by 10 specific items specified in the budget law. Another important point of this research is the disaggregation of current expenditures and capital asset acquisition into two parts: centralized (national) and regional (provincial). The centralized sector, which includes the country's major institutions, on average accounts for 60-70% of the total cost budget and 40-50% of capital asset acquisition expenditures, which is a significant amount compared to the provincial budgets.   Budget mechanism, Government expenditures, Employment rate, Iran. http://eprj.ir/article-1-2270-en.html http://eprj.ir/article-1-2270-en.pdf

Institute for Management and Planning studies 3115-7092 3115-7106 30 2 2025 9 1 Political behaviors in Iran\'s higher education budgeting (reflection on dimensions, bases, consequences and solutions) 121 157 FA jafar Hatami Garousi . PhD Student in Higher Education Development Planning, Department of Educational Sciences, Faculty of Humanities, Kurdistan, Sanandaj, Iran jafargarousi.1364@gmail.com Y Nematollah Azizi . Professor, Department of Educatinal Sciences, Faculty of Humanities, University of Kurdistan n.azizi@uok.ac.ir N Naser Shirbagi Professor, Department of Educatinal Sciences, Faculty of Humanities, University of Kurdistan. n.shirbagi@uok.ac.ir N 10.66224/eprj.30.2.121 The purpose of the research is to identify dimensions, bases, consequences and solutions to reduce political behavior in Iran's higher education budgeting. The research is of the qualitative research type and its strategy is the foundational data theory. The research community is all the experts who had educational and research records in the field of study and10of them were selected through purposeful and theoretical sampling. Data were collected using semi-structured interviews, and then the text of the interviews was coded and analyzed based on content analysis. Data analysis in the political behavior section led to the emergence of five categories: behavioral; structural; Individual, group, organizational and nature results. In the section related to the emergence of new platforms, ten categories: characteristics of higher education; the atmosphere of the country; characteristics of Iranian universities; people; priorities; interests; legal weakness; The budgeting approach led to the limitation of financial resources and parties. Also; In the consequences section, twelve categories: positive effect; Bargaining and political work; expert and technical logic; Disillusionment of elites and scientists; sense of injustice; unfair distribution of equipment, resources and facilities; promoting a certain type of higher education; efficiency and effectiveness; political tendencies and attitudes; healthy competition; Personal benefits and higher education were obtained. The findings showed that the interviewees had a comprehensive understanding of the political behavior in the country's higher education budgeting and did not suffer from the one-sidedness found in previous researches. In the end, suggestions to reduce the incidence of political behavior in Iran's higher education budgeting have been presented.   Iran, Higher Education, Budget, Budgeting, Political Behavior http://eprj.ir/article-1-2332-en.html http://eprj.ir/article-1-2332-en.pdf

Institute for Management and Planning studies 3115-7092 3115-7106 30 2 2025 9 1 Introducing and Elaborating the Concept of “Budgetary Infertility” in the Context of Institutional Dysfunctions of the Public Finance System, with Emphasis on the Pork Barrel Theory 159 177 FA nabi omidi Associate Professor of Financial Management, Faculty of Management, Economics and Accounting, Payame Noor University(PNU) nabiomidi@pnu.ac.ir Y 10.66224/eprj.30.2.159 The present study aims to conceptualize, introduce, and scientifically investigate a novel construct termed “budgetary infertility” as one of the fundamental yet underexplored challenges in governmental budgeting systems. Employing a qualitative methodology with an analytical and documentary approach in the form of a descriptive–analytical study, data analysis was organized within a three-tier model that examines budgetary infertility from three distinct yet interrelated perspectives. Findings from the three-tier analytical framework indicate that budgetary infertility emerges from the negative synergy and complex interactions among institutional–legal, managerial–organizational, and political–distributional factors. At the institutional–legal level, deficiencies such as weak financial transparency, lack of enforceable budgetary rules, inefficient design of revenue and expenditure regulations, and excessive centralization create fertile ground for inefficiency. These shortcomings directly influence the managerial–organizational level, leading to capacity constraints in resource absorption and utilization, heightened bureaucratic complexity, reduced human capital productivity, and instability in management and policymaking. The results demonstrate that budgetary infertility is a self-reinforcing phenomenon sustained by the adverse interplay across institutional, managerial, and political domains, which, if persistent, can severely undermine the capacity and efficiency of public financial systems. Addressing this phenomenon requires a systemic and integrated approach whereby managerial capacity enhancement, reduction of political interference in resource allocation, and institutional–economic redesign are pursued concurrently.   Budgetary Infertility, Fiscal Policy-Making, Economic Governance, Allocation Effectiveness, Institutional Sustainability http://eprj.ir/article-1-2379-en.html http://eprj.ir/article-1-2379-en.pdf