Accounting and various aspects of finance
Mehdi Heidari; Alireza Aliakbarlou; Ebrahim Khakpour Heydaranlou
Abstract
Conservatism is an action that is used in conditions of uncertainty and limiting management optimistic behaviors to increase the reliability of financial statements. Financial distress and growth opportunities are among the factors that can improve the level of accounting conservatism. Meanwhile, managers' ...
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Conservatism is an action that is used in conditions of uncertainty and limiting management optimistic behaviors to increase the reliability of financial statements. Financial distress and growth opportunities are among the factors that can improve the level of accounting conservatism. Meanwhile, managers' behavioral characteristics are expected to influence the relationship between financial distress and growth opportunities with accounting conservatism. Therefore, the aim of this study was to investigate the effect of management uncertainty on the relationship between financial distress, growth opportunities and accounting conservatism. The results of this study show, the variables of financial distress and growth opportunities have a positive and significant effect on conservatism. Management overconfidence has no significant effect on the relationship between financial distress and conservatism but it moderates the relationship between growth opportunities and conservatism and has a negative and significant effect on the relationship between them. In other words, that managers with unfavorable financial situation do not have a positive outlook on the future situation of the company and increase the level of conservatism. Managers of large and growing companies also tend to opt for more conservative accounting practices to minimize their political and social costs. On the other hand, overconfident managers are optimistic about the future state of the company and reduce the level of accounting conservatism.
Saeed Allah Bakhshi; Parviz Piri; Mehdi Heidari
Abstract
The aim of this study is to review the effect of the ownership structure (governmental and private) on the relationship between the disclosure quality and the cost of capital. To achieve this purpose, a sample of 107 firms listed in the Tehran Stock Exchange during the years 2006 to 2015 were selected ...
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The aim of this study is to review the effect of the ownership structure (governmental and private) on the relationship between the disclosure quality and the cost of capital. To achieve this purpose, a sample of 107 firms listed in the Tehran Stock Exchange during the years 2006 to 2015 were selected using systematic elimination method and data were analyzed using correlation method and panel data model in E-views and Stata software’s. The results show that with increasing the disclosure quality, the cost of capital reduces. The state ownership has a significantly positive effect and the private ownership also has a significantly negative effect on the cost of capital. The findings also suggest that the state ownership as a moderator variable has a significantly positive effect on the relationship between the disclosure quality and the cost of capital and the private ownership has a significantly negative effect on the relationship between the disclosure quality and the cost of capital.
Mehdi Hiedari; Hamzeh Didar; Bahman Qaderi
Abstract
One of the consequences of political economy is the government's influence on economic units. Companies that have a good relationship with government; pay less tax, have a greater market share, receive additional bank loans, In comparison with the other companies use the government concessions and in ...
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One of the consequences of political economy is the government's influence on economic units. Companies that have a good relationship with government; pay less tax, have a greater market share, receive additional bank loans, In comparison with the other companies use the government concessions and in the process of public offering, Government help them. Thus political patronage may lead to creation of additional value and growth opportunities for these companies. In our country, the government has a widespread presence in economic activities and its influence on the financial and operating policies of most industries in Tehran Stock Exchange is regulated. Therefore, in this research we investigation the relationship of political costs with growth opportunities using structural equation modeling approach. The research population consisted of 68 companies for the period of 2003 to 2012. Our finding indicates that the relationship between political costs and growth opportunities is positive and significant.
mehdi heidari; hamze didar; bahman` ghaderi
Abstract
Abstract One of the consequences of political economy is the government's influence on economic units. Companies that have a good relationship with government; pay less tax, have a greater market share, receive additional bank loans, In comparison with the other companies use the government concessions ...
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Abstract One of the consequences of political economy is the government's influence on economic units. Companies that have a good relationship with government; pay less tax, have a greater market share, receive additional bank loans, In comparison with the other companies use the government concessions and in the process of public offering shares Government help them, Thus political patronage may lead to creation additional value and growth opportunities for these companies.In our country, the government has a widespread presence in economic activity and its influence on the financial and operating policies of most industries in Tehran Stock Exchange is observed. Therefore, in this research we investigation the relationship of political costs with growth opportunities with structural equation modeling approach. The research population consisted of 68 companies for the period of 2003 to 2012. Our finding indicates that the relationship between political costs and growth opportunities is positive and significant. keywords
Iraj Noravesh; Mehdi Heidari
Volume 2, Issue 8 , January 2005, , Pages 121-151
Abstract
In order to examine information content of three performance measures of CVA, OP, OCF, we pose two questions as follows:
1. Does Cash Value Added (CVA) explain annual stock return variations better than Operating Profit (OP) and Operating Cash Flow (OCF)?
2. Does Cash Value Added (CVA) have information ...
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In order to examine information content of three performance measures of CVA, OP, OCF, we pose two questions as follows:
1. Does Cash Value Added (CVA) explain annual stock return variations better than Operating Profit (OP) and Operating Cash Flow (OCF)?
2. Does Cash Value Added (CVA) have information content more incrementally than Operating Profit (OP) and Operating Cash Flow (OCF)?
The time period and number of samples respectively is 1378-1382, 110 company in four industry: Nutrition, Chemical, Automobile and nonmetal minerals. Current research hypothesis tested as follows: the hypothesis tested through regressed pooled time series, cross-sectionally for each industry and the selected firms’ totals, that is, computing correlation coefficient and determinant coefficient.
Current research results show:
By the except ion of Chemical and Automobile industries, the existence of significant relation between cash value added and annual stock return in other industries and in level of the selected firms totals verified.
By the exception of Chemical industry, the relative information content
of cash value added (CVA) in other industries, and in level of the selected firms totals much than operating profit(OP) and operating cash flow(OCF) i.
By the exception of Chemical industry, the information content of cash value added (CVA) in other industries, and in level of the selected firms totals relative to operating profit (OP) and operating cash flow(OCF) was incremental.
