Gholamreza Kordestani; Javad Rezazadeh; Javad Rezazadeh
Abstract
Investigating the Relation Between Accruals and Operating Cash Flows and Effective Factors on this Relation can be useful for shareholders and capital market analysts. The purpose of this study is to investigate the Relation Between Accruals and Operating Cash Flows and Effective Timing and Economic ...
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Investigating the Relation Between Accruals and Operating Cash Flows and Effective Factors on this Relation can be useful for shareholders and capital market analysts. The purpose of this study is to investigate the Relation Between Accruals and Operating Cash Flows and Effective Timing and Economic Factors on this Relation. To do so, data of 107 stocks listed in Tehran Stock Exchange in a period of 11 years during 2005 to 2015 were analyzed. First of all, with utilization of times-series regression, the relationship between accruals and cash flows over time were examined. Afterwards, Effective Timing and Economic Factors that could affect this relation were considered utilizing Time-Series Regressions. The results indicate a significant negative relationship between Accruals and Operating Cash Flows showing drops from about -0/997 in 2005 to -0/347 in 2015. Furthermore, out of five potential factors, three of which including Timing-Related Cash Flow Shocks, increases in non-timing-related accrual recognition, as proxied by one-time and non-operating items and the growth of intangible-intensive industries play a role in the majority of the overall decline. In other words, the growth in the frequency and the magnitude of these items has given rise to a decrease in the negative accrual–cash flow relation and operational Cash Flow Shocks throughout the project.
Mehdi Baharmoghaddam; Hossein jokar
Abstract
Several studies in Tehran Stock Exchange have examined the effect of audit quality on investment decisions in the market, but toward most of these studies are based solely on the principle of rationality of economic agents and documentation of the relationship between audit quality and stock price and ...
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Several studies in Tehran Stock Exchange have examined the effect of audit quality on investment decisions in the market, but toward most of these studies are based solely on the principle of rationality of economic agents and documentation of the relationship between audit quality and stock price and the direct reaction of the market to the audit quality criteria are indicative of the effect of audits on the investors' decisions and rarely examine the role of independent auditors on the emotional behaviors investors in the market. So, this paper the main purpose is investigating the effect of moderating audit quality on investor sentiment in stock pricing. In this study, to measure the audit quality, it has been used the observable variables such as the type of audit opinion, audit size and investor sentiment was measured by using five criteria of microeconomic and two macroeconomic criteria. For this purpose, sample of 560 years-company, during the years 2009-2016 was investigated using modified multivariate regression. The results show that the auditor's reports strengthens investor confidence to accounting information and affect the investors' sentiment in stock pricing, but the size of the auditor is not moderating and has no effect on the investors' sentiment in the capital market.
Omid Pourheydari; Saeid Ali Ahmadi
Volume 4, Issue 15 , October 2006, , Pages 1-14
Abstract
This study examines the relation between residual earnings and stock prices in Tehran Stock Exchange (TSE). The analysis is based on a residual income model that expresses the value of the firm in terms of book value of equity and residual income. The model holds for any clean surplus accounting ...
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This study examines the relation between residual earnings and stock prices in Tehran Stock Exchange (TSE). The analysis is based on a residual income model that expresses the value of the firm in terms of book value of equity and residual income. The model holds for any clean surplus accounting system. The study address the question that whether book value per share (BV) and abnormal (residual) earnings per share (RE) have incremental and relative explanatory power or not. We find that RE have less explanatory power than BV. Also, we find that accounting book value of equity and residual earnings are positively and significantly related to current stock prices in Tehran Stock Exchange (TSE).
Mohsen Khoshtinat; Mehdi Rezaei
Volume 4, Issue 14 , July 2006, , Pages 1-37
Abstract
Earning as an important item of financial statement is considered by many researchers. Many researches in different aspect of earning show the extreme important of it. Here, we attempt to consider earning persistence as a basic and effective factor in making decision and stock price ...
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Earning as an important item of financial statement is considered by many researchers. Many researches in different aspect of earning show the extreme important of it. Here, we attempt to consider earning persistence as a basic and effective factor in making decision and stock price so we investigate the explanatory power 's of earning (include three level of earnings: operating earnings, net profit and earnings forecast) in stock price.
Book value as an important factor is considered in the recent decade and some stock evaluation models use book value as a relevant factor .we also investigate the explanatory 's power of book value in stock depend on higher or lower earning persistence.
Our results show, when earning persistence increase, the explanatory's power of earning in stock price increase too. These evidences accompany our hypothesis in different level of earnings. But we could not find any evidence about contemporary role of book value and earning persistence in stock price.
Hamid Khaleghi moghaddam; M. Azad
Volume 2, Issue 7 , October 2004, , Pages 33-54
Abstract
Profit as the most important factor of measurement of an operation of an entity, is one of the topics of accounting which has secured its special place in the theoretical issue for a number of years. Accounting from the beginning of 20th century has started its activity in the scientific and classic ...
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Profit as the most important factor of measurement of an operation of an entity, is one of the topics of accounting which has secured its special place in the theoretical issue for a number of years. Accounting from the beginning of 20th century has started its activity in the scientific and classic form. In the last number of decades, especially from the year 1960 onward after efficient market hypothesis (EMH), with the start of experimental --evidential researches by Ball and Brown about the content of information pertaining accounting earning was able to stable its theoretic fundamentals on the basis of evidence. In this research, the content of information of predicted profit is studied. The results reported here indicate that Earning Forecast by companies possessing information and efficiency content and from this purpose the importance of prediction of accounting earning due to its role and effect in the decision takings of users especially investor's is considerable.
