Moussa Bozorgasl; Azadeh Adibi
Abstract
In the age that firms deal with various challenges, financial safety and the Factors which end with recession are of great importance. Along with the fact mentioned, the present study considers the investigation of the effect of conditional conservatism and accounting-based earnings attributes ...
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In the age that firms deal with various challenges, financial safety and the Factors which end with recession are of great importance. Along with the fact mentioned, the present study considers the investigation of the effect of conditional conservatism and accounting-based earnings attributes on risk of bankruptcy in Firms Listed at the Tehran Stock Exchange. The Z’altman is used for measuring the risk of bankruptcy and accruals quality, earnings persistence, earnings predictability, and earnings smoothness used for measuring the Accounting-based Earnings Attributes.The results of estimating of research hypotheses using the panel data techniques in eviews software for 126 firm of Tehran’s Stock Exchange during a period of five years from 2010 To 2014, suggest that not only using the accounting conditional conservatism does not make any important change in decreasing of risk of bankruptcy, but also it is able to increase the financial distress of Iranian firms. Also, the result show the significant negative relation between the accounting-based earnings attributes (Accruals quality, persistence and predictability) with risk of bankruptcy of firms. Generally, The results revealthat risk of bankruptcy o f firms are mostly influenced by economical condition of the country, the politics of financing, the size of the firms, the sort of industry ,and improvement of accounting-based earnings attributesrather than conditional conservatism approaches.
M. Bozorg Asl; A. Sarafraz Ardekani
Volume 7, Issue 25 , April 2009, , Pages 105-125
Abstract
The purpose of firm's management is to maximize the firm’s value and as a result, to increase stockholder’s equity by providing more yields than their expectations. Basically, dividend is one of the most important sources of yields for the stockholders. The firm's managers recognized that ...
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The purpose of firm's management is to maximize the firm’s value and as a result, to increase stockholder’s equity by providing more yields than their expectations. Basically, dividend is one of the most important sources of yields for the stockholders. The firm's managers recognized that their stockholders are seeking a stable policy in dividend payment because stable dividend policy reveals that the firm is financially stable and holds a lower business risk and increases stock market value. This paper investigates the relation between stable dividend policy and abnormal yields of firm's stock, And the difference of stable dividend policy among various industrial groups in Tehran exchange market on samples consist of 80 working company from 17 different industrial groups between the years 1379 to 1386. The main variable of this paper consist of stable dividend policy as an independent variable and abnormal yields of firm's stock as a dependent variable. Stable dividend policy was measured by Standard deviation of dividend and abnormal yields were measured by capital asset pricing model (CAPM).
The result of performed analysis indicate that there is a significant correlation between stable dividend policy and abnormal yields at the confidence level of 95% ,but the stable dividend policy do not vary among various industrial groups significantly.
M. Bozorg Asl; S.M. Razavi
Volume 6, Issue 22 , July 2008, , Pages 97-117
Abstract
This article aims at identifying effective variables of macroeconomic on Tehran Stock Exchange returns. Variables which have been used to do the hypothesis test are Interest Rates, Interest Rates growth, GOP, GOP growth, Oil Prices and growth of Oil Prices. These variables have been considered as independent ...
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This article aims at identifying effective variables of macroeconomic on Tehran Stock Exchange returns. Variables which have been used to do the hypothesis test are Interest Rates, Interest Rates growth, GOP, GOP growth, Oil Prices and growth of Oil Prices. These variables have been considered as independent variables. The stock market return has been used as dependent variable. The measurement scope is over the period 1376-1385. The research shows that stock market return is relative to only interest rate.
