A Study of the Relationship between Significant Macro Economical Variables and Important Accounting Variables
H.R
Baradaran Shoraka
عضو هیئت علمی دانشگاه علامه طباطبایی
author
S.M
Seyed Motahari
عضو هیئت علمی دانشگاه علامه طباطبایی
author
text
article
2007
per
In this article we have tried to consider the relation between four important macro-economic variables including: GDP (excluding petroleum), petroleum revenue, investment in the section of structuring and inflation with three majors accounting variables including: net operational profit margin ratio, rate of return on asset and return on owner's equity since 1376 up to 1385 in Tehran Stock Exchange Market.
Due to high correlation among three economic variables (GDP, petroleum revenue and investment in structuring) for testing the hypotheses, factor analysis has been applied and used.
Empirical Studies in Financial Accounting
Allameh Tabataba’i University
2821-0166
5
v.
20
no.
2007
1
35
https://qjma.atu.ac.ir/article_4249_e1280dd36273f3dc42f079affda7f6d8.pdf
The Relationship between Information Asymmetry and Conservatism
Mohsen
Khoshtinat
عضو هیئت علمی دانشگاه علامه طباطبایی
author
Fereshteh
Yoosefi
دانشجوی کارشناسی ارشد دانشگاه علامه طباطبایی
author
text
article
2007
per
This paper studies the relationship between information asymmetry and accounting conservatism in financial statements. Information asymmetry between informed and uninformed equity investors creates an agency cost that increases the equilibrium return on the firm's equity. This effect gives parties to the firm an incentive to generate a mechanism that reduces information asymmetry. In the other hands Conservatism reduces the manager's incentives and ability to manipulate accounting numbers and then reduces the agency costs.
Our empirical tests express that information asymmetry among equity investors is significantly positively related to conservatism. Further our tests confirm that changes in information asymmetry between equity investors lead changes in conservatism but conservatism doesn't lead to information asymmetry.
This result rejects the FASB proposition that conservatism produces information asymmetry among investors.
Empirical Studies in Financial Accounting
Allameh Tabataba’i University
2821-0166
5
v.
20
no.
2007
37
59
https://qjma.atu.ac.ir/article_4250_6509d4c036f04ef1fb05eb4bda6960e0.pdf
Relationship of Stock Returns with Firm Size, Book-to -Market Equity Ratio and Earning-to-Price Ratio in Tehran Stock Exchange
Majid
Shariat Panahi
عضو هیئت علمی دانشگاه علامه طباطبایی
author
Farman
Khosravi
کارشناس ارشد حسابداری
author
text
article
2007
per
The capital asset pricing model (CAPM) states the equilibrium relationships between risk and expected return. This model argues that only systematic risk should be priced in the market; specific or idiosyncratic risk does not get a risk premium. Despite the CAPM being a more useful model in the financial and investment profession. However, recent empirical studies have raised serious challenges to this belief. It appears that "B" as a measure of systematic risk, has little power in explaining cross-sectional risk and return relationship over - term periods, but it has been observed that other variables such as "firm size" and "book - to - market ratio" and "earning - to - price ratio", (Fama & French three factors) appear to be more useful risk proxies. This study seeks to explore the cross-sectional determinants of common stock returns (except investment Company) in Iranian emerging stock market, namely Tehran stock Exchange for the period 2000 through 2004. The joint roles of stock returns measured by firm size (ME), book-to-market equity ratio (BE/ME) and earning-to-price ratio (PIE) on monthly returns are examined. The study findings although consistent with central theme of the CAPM, but are inconsistent with the results of similar studies carried out in major developed stock markets recently.
Empirical Studies in Financial Accounting
Allameh Tabataba’i University
2821-0166
5
v.
20
no.
2007
61
87
https://qjma.atu.ac.ir/article_4251_6f4349bf7aeba0c1a4954b9319a98025.pdf
Factors Associated with Auditor Changes in Iranian Corporations
Javad
Rezazadeh
استادیار گروه حسابداری- دانشگاه بین المللی امام خمینی
author
Kamal
Zareie Moravvej
کارشناس ارشد حسابداری دانشگاه تربیت مدرس
author
text
article
2007
per
The purpose of this study is examining the impact of worldwide known factors on auditor changes in Iranian corporations. For the study, the population of interest comprises all companies listed on the Tehran Stock Exchange (TSE). The sample comprises 37 auditor-change TSE companies and 37 non-auditor-change TSE companies. Logistic analysis is performed on the sample data. The findings indicate that audit fee, audit quality, change in management composition, and firm size are significantly influencing variables on auditor changes. Logistic multivariate analysis indicate that factors such as audit fee, audit opinion, change in management composition, and firm size can be used to establish a model to predict auditor changes.
Empirical Studies in Financial Accounting
Allameh Tabataba’i University
2821-0166
5
v.
20
no.
2007
89
105
https://qjma.atu.ac.ir/article_4252_bf99e93c12c970d7c3ae63f1b1150ddd.pdf
The Role of Auditor Quality and Asset Reliability in Equity Valuation
Saber
Sheri
عضو هیئت علمی دانشگاه علامه طباطبایی
author
Abdolkarim
Moghaddam
عضو هیئت علمی دانشگاه پیام نور
author
text
article
2007
per
In this survey, the impact of auditor quality and asset reliability on equity valuation has been studied. It has used the results of Richardson et al (2005), for categorizing asset and liabilities in four levels as low, medium, high and not classified groups. The criteria of high quality auditor were three independent factors as audit tenure, audit firm size and auditor industry specialization. The questions of this study were as follows: Does auditor quality influence the market's valuation of assets and is the mitigating effect of a quality auditor more pronounced for low or medium reliability asset measures? The results showed that audit tenure does not affect auditor quality but audit firm size and auditor industry specialization improve that. The second hypothesis which indicates auditor quality has no significant effect on market's perception of high reliability accruals is approved.
Empirical Studies in Financial Accounting
Allameh Tabataba’i University
2821-0166
5
v.
20
no.
2007
107
128
https://qjma.atu.ac.ir/article_4253_0368d9b97384d4a17f53d8430699485e.pdf
A Survey on the Relationship between Market Value Added and Performance Measures in Tehran Stock Exchange
Mohamad
Kashanipoor
استادیار دانشکده علوم اقتصادی و اداری دانشگاه مازندران
author
Amir
Rasaiian
کارشناس ارشد حسابداری دانشگاه مازندران
author
text
article
2007
per
Market Value Added is important measure in firms' performance measurement. The main goal of this paper is to review the relationship between MVA and some measures of performance measurement such as EVA~ROA, SRE, PBT/S and OCF. Therefore 189 sample firms that their required data for a 10 years period (1376-1385) was available are selected. Then the related data to 5 independent variables are reviewed. MVA is calculated as dependent variable too. The simple regression model is used to examine the hypothesis. The method of the regression model is panel data regression. Signification of models is examined by T and F statistics. The conclusions indicate that there are significant relationships between MVA and EVA, ROA, SRE and OCF. The conclusions account for that EVA is the best measure to explain the changes in MVA.
Empirical Studies in Financial Accounting
Allameh Tabataba’i University
2821-0166
5
v.
20
no.
2007
129
157
https://qjma.atu.ac.ir/article_4254_f0eb31f51cfd5d4ec5ccfef48f96c042.pdf