seyed Abbas Hashemi; Saeed Samadi; Reyhaneh Hadian
Volume 11, Issue 44 , March 2015, , Pages 117-143
Abstract
In current business world, companies require suitable strategies forbetter use of their resources and wealth to solve their economicproblems. For this goal, one way is development of investment. Inaddition to development of investment, the efficiency of investment isso important. Hence, this study examines ...
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In current business world, companies require suitable strategies forbetter use of their resources and wealth to solve their economicproblems. For this goal, one way is development of investment. Inaddition to development of investment, the efficiency of investment isso important. Hence, this study examines the effect of financialreporting quality and debt maturity on investment efficiency. for dataanalysis and Hypothesis testing the multiple regressions models wasused .This research has been done in 104 listed companies in TehranStock Exchange based on data contained in financial reports between2007 – 2012. The results show that upper financial reporting qualityand lower debt maturity can improve investment efficiency .resultsalso show firms with higher (lower) use of short-term debt, exhibitlower (higher) financial reporting quality effect on investmentefficiency. In other world, financial reporting quality and debtmaturity are mechanisms with some degree of substitution inenhancing investment efficiency.
Seyed Abbas Hashemi; Hadi Amiri; Roya Moeein Ghafghazi
Volume 10, Issue 38 , July 2013, , Pages 91-117
Abstract
Because the accounting profit computation does not consider the cost of capital, it has always been criticized. One of the proxies of accounting earnings that recently were taken into consideration by accounting researchers is residual income. In this study, the relationship between accounting earnings ...
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Because the accounting profit computation does not consider the cost of capital, it has always been criticized. One of the proxies of accounting earnings that recently were taken into consideration by accounting researchers is residual income. In this study, the relationship between accounting earnings and stock returns and the effect of changes in the accounting earnings on this relationship has been studied. Then using the concept of residual income, the impact of changes in earnings components on this relationship has been investigated. To test the hypothesis, a sample of 67 Tehran Stock Exchange listed companies during the years 2004 to 2010 were selected. To analyze the data and hypothesis testing, a multiple regression model based on combined data was used. The results indicate that there is a direct significant relationship between accounting earnings and current stock returns and the independent variable, earnings changes, affect this relationship. Also, if using residual income, the earnings could be decomposable to components, these components will strengthen the relationship between accounting earnings and current stock returns. Also the results revealed no relationship between accounting earnings and future stock returns.
D foroghi; S.A hashemi; H amiri; S zafari
Volume 9, Issue 36 , January 2012, , Pages 149-169
Abstract
The main purpose of this research is to compare the relative informational content of operating and financing cash flows of three and five section cash flow statement in explaining future stock return. The time range of research is companies cash flow statements between 1382-1388. The population of research ...
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The main purpose of this research is to compare the relative informational content of operating and financing cash flows of three and five section cash flow statement in explaining future stock return. The time range of research is companies cash flow statements between 1382-1388. The population of research is all companies Listed in Tehran Securities and exchange, from which, a sample of 80 Iranian listed firms was chosen. The type of data needed for hypotheses testing is Pooling-Data. Unrestricted and restricted regressions were utilized to test the hypotheses. The statistical methods used consist of adjusted- R² and Wald-test statistic. Findings indicate that both operating and financing cash flow of 3-section cash flow statement have more relative informational content than the operating and financing cash flow of 5-section cash flow statement in predicting future stock return.
