Volume 11, Issue 42 , July 2014, , Pages 1-29
Ali Rahmani; Gharibe Esmaili
Volume 11, Issue 43 , October 2014, , Pages 1-23
Abstract
Company valuation methods have been improved by the knowledge-based economy. Significant gap between corporate market value and accounting book value had led to numerous researches in "unexplained value" or "hidden reserve".Even though there are few surveys on intangible assets in Iran, Empirical studies ...
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Company valuation methods have been improved by the knowledge-based economy. Significant gap between corporate market value and accounting book value had led to numerous researches in "unexplained value" or "hidden reserve".Even though there are few surveys on intangible assets in Iran, Empirical studies in advanced marketsdemonstrate the importance of these assets. This study aims to examine the relationship betweenintangible assets and corporate market value oflisted companies in Tehran Stock Exchange (TSE). For this purpose, the sample including 1468 observations (Year- Company) of listed companies in TSE over 2006 to 2011 has been collected and hypothesizes were tested using "Landsman's balance sheet identity model". According to the findings, intangible assets are correlated with corporate market value. In addition, upward trend in recognizing the value of intangible assets has been seen. It is notable that, tangible assets have a dominant role in valuating listed companies in TSE with descending trend in explaining corporate market value.
Ghasem Blue; Nasim Lotfi
Volume 11, Issue 44 , March 2015, , Pages 1-35
Abstract
Various studies (wolk & et al, 2004, Beaver & Demski ,1979) indicate that changes in reported accounting earnings lead to changes in stock prices. Since current accounting earnings is useful in predicting future earnings , So the current earning due to the ability to predict future earnings and ...
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Various studies (wolk & et al, 2004, Beaver & Demski ,1979) indicate that changes in reported accounting earnings lead to changes in stock prices. Since current accounting earnings is useful in predicting future earnings , So the current earning due to the ability to predict future earnings and future dividends, have information content In such a structure, the accounting profit indirectly have an impact on the valuation of stocks. The purpose of this study is to compare the value relevance of the total amount operating profit and cash and non-cash components of earning of the listed companies on Tehran Stock Exchange .The meaning of the value relevance is the relation of accounting variables such as earnings and its components with the company's stock value. In order to achieve the objective we selected, 91 companies from the statistical population that had necessary information for the 5 years period of the research (2007-2011). To examine the research hypotheses, panel data has been employed. For the test of research model significance t and F statistics were used. The findings of the study indicate that the value relevance of cash and accrual components of earnings compared with the overall profit is higher. According to research findings, as well as the cash component of earnings than the accrual component of earnings is more associated with the value of the firm. In addition, the value relevance of current accruals is greater than the value of non- current accruals.
Jafar Babajani; Behrooz Khodarahmi
Volume 11, Issue 41 , April 2014, , Pages 1-36
Abstract
Designing the optimum process of shifting traditional input oriented budgeting toward modern output based budgeting systems; defined as performance budgeting, require a special focus on infrastructural, legal and managerial capacities.The vital success factor of implementing performance budgeting is ...
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Designing the optimum process of shifting traditional input oriented budgeting toward modern output based budgeting systems; defined as performance budgeting, require a special focus on infrastructural, legal and managerial capacities.The vital success factor of implementing performance budgeting is accessing evolutionary managerial skills to coordinating suitable transition from a budgeting system to another one, so the recognition and extraction of key factors of an successful strategic evolutionary management according to adaptive research in best practice countries, could be an illustrator of such an important path. Investigating the shifting trends of OECDs countries budgeting practices shows a clear sequential steps in implementing performance budgeting.In this research, the success performance budgeting indexes in questionary based format gather the experts opinion after a studding the performance budgeting conceptual frameworks of the selected countries successfully implement this view and the appraisal of the reaching consensus about the asked indexes has been done according to the statistical tests.Finally this research shows that the applied paradigm of performance budgeting in IRAN in not suitable, and present a feasible model of implementing such a view in Islamic Republic of Iran.
Mohamad Namazi; Fahimeh Ebrahimi
Volume 10, Issue 40 , January 2014, , Pages 1-26
Abstract
This study aims to investigate to the effect of board composition on performance of companies Tehran Stock Exchange listed with emphasis on efficiency of value added by a firm’s total resources and efficiency of value added by a firm’s physical capital and intellectual capital resources separately. ...
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This study aims to investigate to the effect of board composition on performance of companies Tehran Stock Exchange listed with emphasis on efficiency of value added by a firm’s total resources and efficiency of value added by a firm’s physical capital and intellectual capital resources separately. For this purpose, a sample consisting of 64 companies between 2001 and 2010 was selected. The results of testing hypotheses by applying the ordinary least square regression model statistically show that there is a weak positive and meaningful relationship between the variable of the presence of one of the non-executive members in the chairman position and the efficiency of value added by a firm’s total resources and efficiency of value added by a firm’s physical capital and intellectual capital resources. However, no meaningful relationship was found between variables of the percentage of non-executive directors on the board and presence of at least three non-executive members in the board composition and the efficiency of value added by a firm’s total resources and efficiency of value added by a firm’s physical capital and intellectual capital resources
Mohamad Arab mazar yazdi; Ahmad Badri; AFSHIN Azizian
Volume 10, Issue 39 , October 2013, , Pages 1-27
Abstract
Herding behavior is among the most noticed biases in behavioral finance. This bias implies that investors unknowingly neglect personal information and analyses; instead they tend to follow other investors or the whole market. Using Tehran Exchange stocks transactions data, this study empirically ...
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Herding behavior is among the most noticed biases in behavioral finance. This bias implies that investors unknowingly neglect personal information and analyses; instead they tend to follow other investors or the whole market. Using Tehran Exchange stocks transactions data, this study empirically examines herding behavior in this market. Two models based on cross-sectional deviation of stock returns and another model based on beta in state-space structure are utilized in our research. The sample covers 21,112 weekly returns and transaction volumes observations from April 2005 to April 2011. Our findings indicate that participants often lack independent investment decisions; i.e. they prefer following other investors’ decisions to taking an independent approach. This confirms that herding behavior exists in Tehran Stock Exchange. Moreover, evaluating comparative power of our three models suggests that the model based on beta is more powerful in explaining herding behavior than the other model.
Mohamad ali Aghaei; Ali asghar Anvari Rostami; vahid Ahmadian; Ghasem Montazeri
Volume 10, Issue 38 , July 2013, , Pages 1-27
Abstract
Iranian Financial Accounting Standards Board applies a hierarchy of accounting qualities and asserts that the relative importance of these qualities differs between decision makers. In the article, the relative importance of qualities based on prepares, auditors and users of financial reports assertions ...
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Iranian Financial Accounting Standards Board applies a hierarchy of accounting qualities and asserts that the relative importance of these qualities differs between decision makers. In the article, the relative importance of qualities based on prepares, auditors and users of financial reports assertions are examined. At the first, sample was determined using conventional methods. Then, the respondent’s judgment of each group was captured by using of questionnaires. The survey questionnaire was based on the Analytic Hierarchy Process. The respondent’s judgment (a series of trade-offs between pairs of the qualities) was analyzed using SPSS and Expert Choice. The results revealed that based on users assertions, except comparability, the relative importance of the accounting information qualities are different..
Jafar Babajani; Adel Azar; Morteza Moayeri
Volume 9, Issue 33 , April 2011, , Pages 1-37
Abstract
During the past two decades, public sector accounting and reporting system encountered significant reforms. The aim of these reforms was removing bureaucratic system barriers which prevent efficient use of scarce resources. Extended reforms and changes in public sector of developed and even developing ...
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During the past two decades, public sector accounting and reporting system encountered significant reforms. The aim of these reforms was removing bureaucratic system barriers which prevent efficient use of scarce resources. Extended reforms and changes in public sector of developed and even developing countries have persuaded many scholars to investigate them. These studies have shown that mentioned reforms often stem from a set of factors and drivers observed in the countries encountering these reforms. The present study discusses the literature regarding these reforms, and identifies influencing factors and drivers in reforms of Iran’s public sector financial and operational accountability system from the viewpoint of Iranian experts. Accordingly, using Delphi method through a survey of 142 Iranian experts, the key factors and drivers of reforms in Iran's public sector financial and operational accountability system have been identified. In the end, the status of these factors and drivers in the current condition of Iran is evaluated.
mohammad hoseine setayesh; F kashanipour
Volume 9, Issue 36 , January 2012, , Pages 1-21
Abstract
The purpose of this study is to investigate the effect of intellectual capital components in determining the performance of listed companies in Tehran Stock Exchange. Intellectual capital components include Human Capital, Relation Capital, Innovation and Procedure Capitals. Return on Equity (ROE) ratio ...
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The purpose of this study is to investigate the effect of intellectual capital components in determining the performance of listed companies in Tehran Stock Exchange. Intellectual capital components include Human Capital, Relation Capital, Innovation and Procedure Capitals. Return on Equity (ROE) ratio of the companies was used as the surrogate for performance. The study sample consists of 56 companies during 2007-2011. Panel data method with fixed effects was applied to analyze of research data in EViews 6. The findings reveal that Research and Development Percentage (RDP) and how long companies have been registered in TSE organizations stable or OS and other variables, negatively and positively affected ROE. However, only OS variable is statistically significant in 95% certainty level.
mohammad Namazi; M Azimi Bidgoli
Volume 9, Issue 35 , October 2012, , Pages 1-21
Abstract
The purpose of this study, at first, is to identify the organizations' key performance evaluation measures, which are related to each Balanced Scorecard (BSC) perspectives of the companies listed in the Tehran Stock Exchange (TSE) that are classified by the type of activity and on the basis of the industry ...
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The purpose of this study, at first, is to identify the organizations' key performance evaluation measures, which are related to each Balanced Scorecard (BSC) perspectives of the companies listed in the Tehran Stock Exchange (TSE) that are classified by the type of activity and on the basis of the industry groups in 2008. After determination, identified measures are ranked by the participants based on the Analytical Hierarchy Process (AHP) technique. At last, among the obtained ranks, after applying AHP and before the employment of this technique, a comparison is attempted to investigate the significance of the differences between the two types of ranking.By utilizing interviews and providing questionnaires, data related to 78 companies was collected. Friedman Test and t-test were administered in this study.The measures utilized in this research by companies listed in the TSE, was exerted to evaluate the performance of the organizations and managers, within the four perspectives of the BSC. The hypotheses testing results indicated that there are significant differences between two types of rankings (before and after using AHP) in the organizations.Moreover, it was revealed that almost none of the examined TSE companies did apply the unique measures of the BSC in their performance evaluation process
A Sadr Esfahani; A Saghafi
Volume 9, Issue 34 , July 2012, , Pages 1-32
Abstract
This research examines the consequences of earnings manipulation through real activity and campares it with cosequenses of accrual manipulation based on earnings manipulation models provided by Roychowdhury (2006) and Gunny (2010). Statistical sample consists of listed companies in Tehran Stock Exchange ...
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This research examines the consequences of earnings manipulation through real activity and campares it with cosequenses of accrual manipulation based on earnings manipulation models provided by Roychowdhury (2006) and Gunny (2010). Statistical sample consists of listed companies in Tehran Stock Exchange over the years of 2000 to 2011. Literature Review indicates that real manipulation take place by using mehods such as offering discount, extend more lenient credit terms for sale, overproduction and reduced discretionary expense.Based on literature, firms with low return (first interval to the right of zero inearnings distributions) were detected as suspet firms to real and accrual manipulation. Results indicate an increase in abnormal accruals and abnormal production costs, and abnormal discretionary expenses and operating cash flows in suspect firms. After detecting earnings manipulation proxies, consequence of earnings management through real activities on future profitability and cash flow from operation were examined and compared with accrual manipulation. The Results of testing hypotheses indicate a negative effect of real manipulation on future performance
Omid Pourheidari Pourheidari; Mojtaba Golmohammadi Shuraki
Volume 12, Issue 47 , October 2016, , Pages 1-21
Abstract
The purpose of this research is to understand the factors that affect the pricing of audit services and measurement of competition in audit services market through examination of audit fee stickiness. The study helps to explain why the audit fee model does not fully explain the level of audit fees. For ...
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The purpose of this research is to understand the factors that affect the pricing of audit services and measurement of competition in audit services market through examination of audit fee stickiness. The study helps to explain why the audit fee model does not fully explain the level of audit fees. For this purpose, a sample of 61 companies listed in TSE from 2009 to 2014 is selected. Hypotheses have been examined using panel data and cross-sectional data regression. Research evidence shows that audit fees are sticky. That is, audit fees do not immediately or fully adjust to changes in their determinants. Furthermore, audit fees also respond to changes leading to an increase more quickly than they respond to changes leading to a decrease. This means that audit clients respond less to the increase in the amount of audit fee. These results indicate that Audit services market in Iran is Non-competitive and is not determined on the basis of all available information
Yahya Hassas Yeganeh; Hosseyn Kasyri
Volume 1, Issue 2 , July 2003, , Pages 1-38
Abstract
Materiality is one of the comprehensive concepts in accounting and auditing which is used by one definition but different applications. Information is material if its omission or misstatement could influence or change the decisions or Judgments of a reasonable user taken on the basis of financial statements. ...
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Materiality is one of the comprehensive concepts in accounting and auditing which is used by one definition but different applications. Information is material if its omission or misstatement could influence or change the decisions or Judgments of a reasonable user taken on the basis of financial statements. As auditing standards, auditors should consider materiality and its relationship with audit risk when conducting an audit. For materiality Judgment, auditors consider both quantitative and qualitative factors. The objective of this study is: 1) Identify quantitative and qualitative factors effect on auditors' materiality Judgments and its ranking 2) Determine auditors’ consensus in selecting and applying materiality guidelines in audit 3) Identify problems, restrictions and necessity of issuing materiality guidelines in Iran. In this experimental study fifteen quantitative and fifteen qualitative factors which could affect materiality Judgments, selected and examined. The result of this study indicated that: 1) the size of Judgment item, total assets, total revenue and its average, net profit, equity, related items and related class in financial statement identified as significant quantitative factors in Judging materiality level for conducting an audit. 2) The pervasiveness of errors or misstatement to different item in financial statement, relationship of Judgment item with third parties and arm’s length transactions, unusual items, estimated items, departure from laws and regulations and audit risk of Judgment items identified as significant qualitative factors caused in adjusting materiality level. 3) Materiality guidelines based on total assets, total revenue, its average and equity (between 1 to 3 present) and net profit (above 5 percent) are agreed and applied by audit managers. Furthermore, applying net profit guideline together with average total assets and revenue guidelines will improve materiality Judgments. 4) The result indicated the necessity of issuing materiality guideline by profession. Materiality guideline could improve and consistent audit opinions in similar cases, remove problems when auditors changed, consistent the extent of audit work and eventually improve audit efficiency and effectiveness. 5) The results indicated that: a) Few auditors established materiality level in planning stage of audit b) Few auditors considered relationship between audit risk and materiality, especially in adjusting compliance and substantive tests c) In final stage of audit, the auditors do not consider the effect of likely and possible errors in combining the total effect of errors and misstatements.
Mohammad A. Mazar Yazdi; Shahnaz Mashayekh
Volume 1, Issue 4 , January 2004, , Pages 1-24
Abstract
The Performance Evaluation Models that developed from Middle of 1960s was used in many researches. Between three Models that were developed by William Sharp, Jack Treynor and Michael Jensen, many researches used differential excess return of Jensen Model.
Some of researches that were previously done ...
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The Performance Evaluation Models that developed from Middle of 1960s was used in many researches. Between three Models that were developed by William Sharp, Jack Treynor and Michael Jensen, many researches used differential excess return of Jensen Model.
Some of researches that were previously done showed that investment company with active management usually obtain gross excess return. However this return almost was not important and after deduction of operating expense would be eliminated or negative.
This article shows results of research that investigate the performance of 14 Iranian investment companies between 1374 -1380.
Sharp and Jensen models were used respectively in determining portfolio Risk and Return and evaluating performance.
This research tested eight hypotheses. The result demonstrates 26.9 percent average gross excess return. This excess return will become 25.8 percent after deducting operating expenses. Shortening the calculation Periods almost confirm above results.
In summary, the results of testing eight hypotheses demonstrate that active management in Iranian investment companies for Marketable securities performed better than passive management and could obtain important excess return. Of course investment holding companies had a much better performance than mutual fund.
D. Forooghi; N. Hamidian; M. Mohammadian2F
Abstract
AbstractThe present study aims at investigating the influence of earnings quality measures on excess stock return and the capability of each one of those measures in explanation for this excess. For so doing, in the current research, eight measures for earnings quality in four total categories have been ...
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AbstractThe present study aims at investigating the influence of earnings quality measures on excess stock return and the capability of each one of those measures in explanation for this excess. For so doing, in the current research, eight measures for earnings quality in four total categories have been used: time series measures (persistence and earnings predictability), smoothness measures (volatility of earnings or accruals to operating cash flows volatility), accruals-based measures (abnormal accruals and accruals quality) and market-based measures (earnings response coefficient and value relevance). Research sample consists of 62 firms listed in Tehran Stock Exchange in time interval of 1376-1392 (1997-2013). Findings indicate that among measures for earnings quality, accruals-based measures and value relevance have negative and significant influence on the absolute of excess stock return. Time series measures, accruals volatility to operating cash flows volatility (earnings smoothing), and earnings response coefficient have significant but positive influence on the absolute of excess stock return. Furthermore, earnings volatility to operating cash flows volatility (earnings smoothing) does not have significant influence on the absolute of excess stock return. Also, among the Criteria for earnings quality, accruals-based measures have more ability than other measures in explanation of the absolute of excess stock return.
Ali Saghafi; R. R. Esmaily
Volume 2, Issue 5 , April 2004, , Pages 1-23
Abstract
This Practical and experimental research focuses on the effects of joining Iran to W.T.O with emphasis on auto industry. The aim of this research i s to indicate the influences of joining W.T.O on price and quality. In this research with the use of market segmentation method, Iran's market is compared ...
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This Practical and experimental research focuses on the effects of joining Iran to W.T.O with emphasis on auto industry. The aim of this research i s to indicate the influences of joining W.T.O on price and quality. In this research with the use of market segmentation method, Iran's market is compared with the European one. The result shows that for remaining in the world competitive market two factors should be taken into consideration. First, the car price should be decreased up to 30 %. Second, the quality should be increased. For achieving this goal, the system of cost management and target costing seem to be solution for price decrease. This system is accepted and used practically for Peugeot 405 which is the most required car in coming years.
Hamid Khaleghi Moghadam; E. Davarpanah
Volume 2, Issue 6 , July 2004, , Pages 1-26
Abstract
In accounting standard N o.22 of Iran, the lowest interim financial report contents and the principles of identification as well as measurement in the case of performing in preparation of interim financial settlements and the aim of preparation of this information has been the securing of investments ...
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In accounting standard N o.22 of Iran, the lowest interim financial report contents and the principles of identification as well as measurement in the case of performing in preparation of interim financial settlements and the aim of preparation of this information has been the securing of investments needs, creditors and the other users.
The aim of this research is that the efficiency rate and benefit of these information and its merit as to interim reports to be measured and finally to response to this question that whether the preparation of interim financial statements have been required in accordance to Standard No.22 or not and whether we can supply the more useful information to the users of supply and cause the changing of view and finally their final decision making as to the time and consumed additional expense in preparation of these information in comparison to the interim reports in accordance to the previous requirements of the stock exchange.
For achieving to the aims of research, the experimental method and distribution of questionnaire were used and by usage from the students in Master of Science degree in the field of Accounting in University of Tehran, they were substituted as statistical society for financial statements i n two groups of Experimental & Control Groups and making the conditions for testing and usage from plan after ·the test with the Control Group that the findings of research resulting from Experimental Environment to the software environment as Excel and SPSS have been transferred and finally after statistical analysis that their main is Pearaions Chi - Square test with usage from Yates Correction guidance, Fishrr - Irwins Exact test and usage from Sommer, s. coefficient association and Gamm, s. Coefficient of Association as well as T student test and Mann-Whitney U test, finally the obtained results show that they have not regarded among the made decisions on the basis of interim financia1l statements as standard and made decisions of interim reports in accordance to the previous requirements of exchange stock in related to the same trading unit as well as they haven't regard the difference considerably between standard interim financial statements and ex interim financial reports.
It should be mention that the above obtained results have obtained in the conditions and limits of this research that their explanation has been mentioned in fifth chapter.
Ahmad Zariffard; Hamed Mehrjoo
Volume 2, Issue 8 , January 2005, , Pages 1-27
Abstract
In this paper the principle subject is to survey the short-run return of initial public offering (IPO) in Tehran security exchange market. Three empirical patterns are documented and analyzed: short-run underpricing, hot issue markets and long-run underperformance. In this article the IPOs in Tehran ...
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In this paper the principle subject is to survey the short-run return of initial public offering (IPO) in Tehran security exchange market. Three empirical patterns are documented and analyzed: short-run underpricing, hot issue markets and long-run underperformance. In this article the IPOs in Tehran stock exchange market since 1378 to 1382 are analyzed. In this period market has extended very much and many IPOs entered it.
In the period in question, the results of this paper indicate that the short-run return of IPOs is higher than the short-run return of the market. This observed pattern is similar to other markets performance around the world. Moreover, the influence of some factors on the underperformance of IPOs is analyzed. Among these factors, only audit firms have influenced the underperformance of IPOs in Tehran market. But considering the joint effect of this factors, also audit firms lost her effect and no one of these factors can explain the observed pattern (underperformance of IPOs) i n Tehran stock exchange.
Yahya Hassas Yeganeh; E. Vahidi Elizeei
Volume 2, Issue 7 , October 2004, , Pages 1-31
Abstract
In year 1377, the Auditing organization in Iran issued its Statement of Auditing Standards 40 (SAS 40): "Accounting and Internal Control System and Audit Risk Assessment". The standard identifies inherent risk as one of the three components of audit risk; inherent risk being defined as "the ...
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In year 1377, the Auditing organization in Iran issued its Statement of Auditing Standards 40 (SAS 40): "Accounting and Internal Control System and Audit Risk Assessment". The standard identifies inherent risk as one of the three components of audit risk; inherent risk being defined as "the susceptibility of an account balance or class of transactions to material misstatement". If the inherent risk is low, less substantive testing is required, with possible resultant savings in staff time and audit costs. It is thus beneficial for the audit firms and clients to assess adequately the inherent risk element of an audit assignment to ensure that audits are carried out as efficiently and effectively as possible.
This research project focuses on inherent risk and using a questionnaire survey investigates 143 auditors’ perception of the importance of certain factors which may determine inherent risk. The finding of the study suggests that variables identified in the literature as being closely associated with inherent risk factors are regarded in a similar fashion by auditors; variable such as bonus schemes tied to management earnings, a high turnover rate in top management personnel, a company reputation for taking unusual business risks and history of material errors are believed to be the major determinants of inherent risk. Finally, the evidence revealed that (1) misunderstanding the significance of the risk factor is due to the disregard of various meaning of the words.(2) Auditors had difficulty in distinguishing between inherent risk and control risk factors.
Mohhammad Reza Nikbakht; Mehdi Moradi
Volume 3, Issue 9 , April 2005, , Pages 1-26
Abstract
One of the assumptions of efficient market is that investors react to new information. The evidence show that investors overreact to new information. They tend to be either over-optimistic or over-pessimistic. Therefore equity prices are not equitably determined by the "true" forces of market supply/demand ...
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One of the assumptions of efficient market is that investors react to new information. The evidence show that investors overreact to new information. They tend to be either over-optimistic or over-pessimistic. Therefore equity prices are not equitably determined by the "true" forces of market supply/demand and are not in equilibrium most of the time. Although stock prices would go abnormally high (low) due to investors' Overreaction in the initial period, they have a tendency to adjust themselves back to the equilibrium level in the subsequent period.
This research investigates the Investors' overreaction in the Tehran Stock Exchange. The results indicate that stocks in the best (worst) performing experience, a reversal of fortune in the following years.
Hamid Khaleghi Moghadam; Mahmood Bahramian
Volume 3, Issue 10 , July 2005, , Pages 1-28
Abstract
Companies going public in Iran include a forecast of next year's profit in their prospectuses. Investors use this information for their future decision. Accuracy of the forecast is crucial because it seems to be a credible signal for long-term performance of stocks.
In this study we ...
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Companies going public in Iran include a forecast of next year's profit in their prospectuses. Investors use this information for their future decision. Accuracy of the forecast is crucial because it seems to be a credible signal for long-term performance of stocks.
In this study we examine the accuracy of management profits forecasts contained in prospectuses of companies newly listing on the Tehran Stock Exchange. For that reason four different forecast error metrics, forecast error, absolute forecast error, squared forecast error and superiority of management forecast are considered.
The interesting feature in this paper is the mandatory status of Tehran market for the disclosure of earning forecast in the prospectuses of the companies and the motivation is that there is no previous literature covering forecast earning accuracy. Data set consists of 81 IPOs, which were floated, in the Athens Stock Exchange during March 2000 to February of 2002.
In order to test a number of company specific characteristics, for the accuracy of Tehran IPO management earnings forecasts we conduct a regression analysis .We apply a cross sectional model to explain variations in accuracies but it has very weak significant power. Our results suggest that investors are able to anticipate forecast errors at the time of listings. Investigation on independent variables, influencing the forecast accuracy show that three factors named horizon of the IPO' (HOR), Economic Condition (ECON), Age of Firm (AGE) are significant determinants.
Jafar Babajani; Hossain Dehghan
Volume 3, Issue 12 , January 2006, , Pages 1-26
Abstract
In the democratic society, governments are elected by vote of citizens and power ultimately rests in the hands of the citizenry. In such society, government accountability is based on the belief that the citizenry" has right to know "and government must declare facts openly and communicate it by appropriate ...
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In the democratic society, governments are elected by vote of citizens and power ultimately rests in the hands of the citizenry. In such society, government accountability is based on the belief that the citizenry" has right to know "and government must declare facts openly and communicate it by appropriate means. After the past two decades of 20th century governmental accounting and financial reporting play a major role in fulfilling government's duty to be publicly accountable in a democratic society.
This paper examine the role of expected accountability - based accounting and financial reporting as a tool to assist in fulfilling government's duty to be publicly accountable and enable members of parliament to assess that accountability .We send 180 questionnaires to members of parliament as well as comptroller general senior auditors as accountee and 180 to chief executives as well as chief financial officers of ministries as accounters.
The findings of this study show that all accountors and accountees believe expected accountability -based accounting and financial reporting play the significant role in fulfilling government to be publicly accountable and assist parliament and comptroller general to assess government accountability.
M Namazi; F Ebrahimi
Abstract
AbstractThe present research is aimed at modeling and prioritizing effective factors in the intention of internal reporting of frauds in the financial items by accountants. For this purpose, the effect of organizational justice, attitude towards whistle-blowing, personal cost of reporting, proactive ...
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AbstractThe present research is aimed at modeling and prioritizing effective factors in the intention of internal reporting of frauds in the financial items by accountants. For this purpose, the effect of organizational justice, attitude towards whistle-blowing, personal cost of reporting, proactive personality traits, religiosity, and moral intensity are studied. The research is based on a survey research, and the statistical population of the study is the accountants of the companies listed in Tehran Stock Exchange in 2015. The results of testing the hypotheses were obtained by exerting ordinary least squares regression, and they indicate that such variables as organizational justice, attitude towards whistle-blowing, religiosity and moral intensity posit positive and significant effect on the intention of reporting fraud in the financial items. The results also show that the theory of organizational justice has the potential to be used in implementation of effective mechanisms of whistle-blowing. In addition, in order to increase the effectiveness of mechanisms implemented with the aim of promoting whistle-blowing, it is of importance to pay attention to solutions such as execution of educational moral programs and cultural and religious plans, which would have a positive effect on religiosity and attitude.
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.
Mohammad Arabmazar Yazdi; Mohammad Hosein Safarzadeh
Volume 4, Issue 15 , October 2006, , Pages 1-20
Abstract
This paper provides evidence on relationships between earnings and cash flow measures for the firms accepted in Tehran Stock Exchange (TSE) over a sample of 83 firms during the period of 1376- 1385. In so doing, we examine the external validity of a U.S.A study of these ...
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This paper provides evidence on relationships between earnings and cash flow measures for the firms accepted in Tehran Stock Exchange (TSE) over a sample of 83 firms during the period of 1376- 1385. In so doing, we examine the external validity of a U.S.A study of these relationships by Bowen, Burgstahler and Daley (1986). We also extend their study through an industry analysis of the relationships.
Evidence is presented first that shows low correlations between traditional cash flow measures and a more refined cash flow measure. Second, traditional cash flow measures exhibit high correlations with earnings, while the more refined cash flow measure has a lower correlation with earnings. Finally, traditional cash flow measures better predict future cash flows than models based on earnings or a more refined cash flow measure. The industry evidence shows that the results on the first two issues, but not the latter issue, are generalizable across industry categories.
