hasan hemati
hosein alavi
Mohammad kashanipour; Gholamreza Karami; Mohsen Moradi Joz
Abstract
Because of the importance and position of earnings in financial reporting information, this study is an attempt to present a model for ranking earnings quality drawing an expert's view. The present study aims to provide a model for earnings quality in Iran. After reviewing the theoretical literature ...
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Because of the importance and position of earnings in financial reporting information, this study is an attempt to present a model for ranking earnings quality drawing an expert's view. The present study aims to provide a model for earnings quality in Iran. After reviewing the theoretical literature and sources of earnings quality, a conceptual model and research questionnaire were developed. Based on the conceptual model developed, three aspects of accounting, market and management were selected as dimensions of the model. Each of these dimensions is of the following measures (8 measures for accounting, 5 measures for market, and 3 measures for management). The research questionnaire was submitted to 21 experts in the field of accounting and financial management with sufficient experience and academic background in the field in question. Using the analytic hierarchy process (AHP) and the technique for order of preference by similarity to ideal solution (TOPSIS), the results were analyzed and the final model of the research was extracted. In this model, drawing on the scientific method for the analysis of the results, the weight of each dimension and measurement was determined. The results show that the accounting, market, and management dimensions have coefficients of 0/581, 0/295, and 0/124 respectively, affecting the earnings quality model. Also, the consistency ratio in the analytic hierarchy process for all dimensions is less than 10%, hence acceptable. Moreover, the results indicate that earnings in formativeness as a subset of market dimension is the most influential measure in the final model of earnings quality.
K Maham; A-M Alimohammadi
Volume 9, Issue 34 , July 2012, , Pages 129-149
Abstract
This study investigates whether dividend paying status is associated with the Quality of earnings. Four measures are defined as proxies for earnings Quality; discretionary accruals, standard deviation and absolute magnitude of the accruals errors, and value relevance.To test the hypotheses, 450 year ...
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This study investigates whether dividend paying status is associated with the Quality of earnings. Four measures are defined as proxies for earnings Quality; discretionary accruals, standard deviation and absolute magnitude of the accruals errors, and value relevance.To test the hypotheses, 450 year firms were selected from companies listed in Tehran Securities Exchange (TSE) during 2005 to 2011. We used a multiple linear regression model. Findings show that firms with dividend paying have (1) lower absolute values of discretionary accruals; (2) lower absolute magnitude of the errors associated with the mapping of accruals into cash flows; and (3) more value relevant earnings. But results is not significant for standard deviation of the accruals errors. Larger dividends strengthen the positive association between dividend paying status and earnings quality.
H. Sinaei; A. Neisi
Volume 1, Issue 4 , January 2004, , Pages 129-148
Abstract
Most of the financial managers believe that financial leverage is one of the most important leverage concepts. This concept has a key position in capital structure. Management capital structure of a firm is a combination of debt and equity holders. A firm which has not any debt is a firm without debt ...
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Most of the financial managers believe that financial leverage is one of the most important leverage concepts. This concept has a key position in capital structure. Management capital structure of a firm is a combination of debt and equity holders. A firm which has not any debt is a firm without debt in structure. As capital structure in more firms is consist of debt and equity holders, financial managers are very sensitive and minute about loan delivery and its effects. But there is a question that how much debt should a firm use? Is there any marked criterion for debt measure in the firm capital structure?
In most countries which have efficient capital market, leverage ratios provide for different conditions and industries, so the firms in determination of capital structure, investors in securities and banks and financial institutions when investment and giving loan to a firm consider these standards. But there aren’t any standards in our country. This research analysis the relationship between the firms’ financial leverage and the industry type, the firm's size, business risk and operation leverage and their relationship. We search for some information for the financial managers use to make the best financial decision. On the other hand, one of the conditions of liberty investment market is giving correct, clear and subtle information to the whole people. In this market, the security price indicates al I information about those securities. In Tehran stock exchange, using this information is not common for investors to use it as a criterion to measure a firm financial risk and desirability of dividend. If one may determine the relationship of four above factors with the firm financial leverage, not only we can use of this information in stock market, but also in determination of validity of a firm for banks. In this research, we considered the financial information which is related to 88 firms i n two periods. After the information analysis using different statistical methods, it was distinguished that the hypothesis of direct relationship between financial leverage and financial measure, is confirmed only in some of the industries, but the other three hypotheses in two period are rejected.
Mohamad Kashanipoor; Amir Rasaiian
Volume 5, Issue 20 , January 2008, , Pages 129-157
Abstract
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 ...
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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.
Mohammad Reza Abbaszadeh; Javad Rajabalizadeh; Mostafa Ghannad
Abstract
In firms with political connections, Related party transactions may be facilitate the goals of this. In other words, related party transactions in firms with political connections and existence influential members, could lead to abuse of company resources and therefore the earnings management. The purpose ...
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In firms with political connections, Related party transactions may be facilitate the goals of this. In other words, related party transactions in firms with political connections and existence influential members, could lead to abuse of company resources and therefore the earnings management. The purpose of this study, first, is examining the relationship between political connections and related party transactions, second, investigation the impact of political connections on relationship between the related party transactions and earnings management. In this paper, political connections are measured by factor analysis and including five variables: stock market value, assets book value, income taxes, number of employees and the insurance payment. In order to test the research hypotheses, we use 120 companies financial information in the Tehran Stock Exchange in the period 2010 to 2017 and analyze this information with multiple linear regression an panel data. The results showed a positive and significant relationship between political connections. also, not found significant relationship between related party transactions and earnings management, but with the addition of political connections, found positive relationship between the related party transactions and earnings management
Hossien Fakhari; Javad Mohammadi; Mohsen Hasannataj Kordi
Abstract
The novelty and mandatory rules about establishing of the auditcommittee in Iranian listed companies as one of the important part ofcorporate governance are controversial subject. It has been importantespecially when the real earnings management is involved. It is due to thepossibility of the detection ...
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The novelty and mandatory rules about establishing of the auditcommittee in Iranian listed companies as one of the important part ofcorporate governance are controversial subject. It has been importantespecially when the real earnings management is involved. It is due to thepossibility of the detection of real earning management that is low incomparison with accrual earning management. In companies this researchintend to investigate about audit committee characteristic and real earningmanagement in Iranian listed companies. So we gather data about 112 listedcompanies of TSE during 1392 year and analysis them with cross-sectionalregression.In general our findings show that there is a significant relationshipbetween audit committee characteristics and real earnings management. Alsoour findings help to TSE policy maker for reporting and enforcement ofaudit committee charter. It indicates also that there is a vital need forapplying of corporate governance rules in Iranian listed companies
Yahya Kamyabi; Ehsan bouzhmehrani; Fazel naderi palangi
Volume 11, Issue 43 , October 2014, , Pages 131-151
Abstract
Transactions with related parties are factors reducing market value of the investment. Although all transactions with related parties are opportunistic, but the prevailing view is that these transactions influence risk and are important for investors. In fact, lack of knowledge about the nature of transactions ...
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Transactions with related parties are factors reducing market value of the investment. Although all transactions with related parties are opportunistic, but the prevailing view is that these transactions influence risk and are important for investors. In fact, lack of knowledge about the nature of transactions with related parties, causes information asymmetry for shareholders and investors. Therefore, this study aims to investigate the relationship between related-party transactions and earnings forecast error as well as independent board members (proportion of non-duty members of the board) on the relationship between related-party transactions and earnings forecast error. To investigate this relationship, we selected 78 companies data listed on Tehran Stock Exchange between 1387 and 1391. Using Eviews, hypotheses were tested. The results indicate that the related-party transactions are positively and significantly associated with earnings forecast error.In addition, the results show that the independent board members have moderating role on the relationship between related-party transactions and earnings forecast error.
Zahra Hajiha; Mojtaba Fathi Moghadam
Volume 11, Issue 41 , April 2014, , Pages 131-156
Abstract
Timeliness is an important qualitative characteristic of financial information. The timeliness of information means that information should be provided to users in the shortest time and the fast way possible. The time between the end of the financial year and the date of financial reporting is shorter, ...
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Timeliness is an important qualitative characteristic of financial information. The timeliness of information means that information should be provided to users in the shortest time and the fast way possible. The time between the end of the financial year and the date of financial reporting is shorter, usefulness of audited annual financial statements of firms’ increases.The aim of this study was to investigate the relationship between the change (improvement or progress) in the auditor’s opinion and the financial reporting delay. The correlation and regression methods were used to analyze the data. The population consisted of 165 firms listed in Tehran Stock Exchange during the period 2004 to 2012. Results of tests done on the hypothesis indicate that there is a significant relationship between change (improvement or progress) in the auditor's opinion with delays to financial reporting, however, our research control variables including costs of lawsuits, revising auditing or accounting standards, duality of board chair and management and leverage, do not have any significant relationship with financial reporting delay.
saeid shikavand; saeid Fallahpour; Amirmahdi Sabaei
Abstract
This study examines the impact of information demand and supply in cyberspace on stock return and stock return variance. This research seeks to determine whether the information demand and supply can have a significant impact on stock return and stock return variance of companies listed on Tehran Securities ...
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This study examines the impact of information demand and supply in cyberspace on stock return and stock return variance. This research seeks to determine whether the information demand and supply can have a significant impact on stock return and stock return variance of companies listed on Tehran Securities Exchange. The study was conducted on a daily basis during the period 2012 to 2016 among 50 listed companies on TSE. In order to estimate the impacts, a Vector Auto-Regression (VAR) model is used in panel data. The predicted model is also estimated by the method of generalized moments. The estimated results show that information demand and supply have both been able to significantly affect the stock return of companies in the sample at a significant level of 5%. Furthermore, the results of the study indicate that the information supply and demand share on the stock return variance is increasing over time.
Rouhollah Sedighi; Mahboubeh Riahi
Abstract
Applying effective supply chains and planning the models of evaluating performance have been considered in recent years. The main purpose of this chain is reducing costs, increasing the effectiveness and efficacy and in general improving profit for all its stakeholders. The present study attempted to ...
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Applying effective supply chains and planning the models of evaluating performance have been considered in recent years. The main purpose of this chain is reducing costs, increasing the effectiveness and efficacy and in general improving profit for all its stakeholders. The present study attempted to investigate the possible effect of Financial Supply Chain Management (FSCM) on performance of companies that listed in Tehran Stock Exchange. For this purpose, the 3 month interim (seasonal) data of 37 pharmaceutical and cement companies (888 seasons - company) during 2009-2014 were utilized as sample. The results showed that there was a meaningful negative effect of Days of Sales Outstanding, Days of Inventory, and Operating Cash Cycle on performance. Thus, firms’ managers could improve their performances by adopting plans and policies in the field of financial supply chain. However, there was not found any significant effect on Days of Payables Outstanding, Cash Conversion Cycle on firms’ performance
Mohammadreza Mehrabanpour; Malihe Habibzade
Abstract
The intense competition prevailing in the world today and investors should be more cautious about their decision given the prevailing conditions. But this information alone is not useful, so it is necessary to use data mining techniques to analyze and interpret data so that more informative information ...
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The intense competition prevailing in the world today and investors should be more cautious about their decision given the prevailing conditions. But this information alone is not useful, so it is necessary to use data mining techniques to analyze and interpret data so that more informative information will be available to users. Therefore, the purpose of this study is to cluster and forecast the profitability of companies. For this purpose, Tehran Stock Exchange companies were considered as the statistical population of the research and 888 companies in the period of 1387-1395 were selected as the research sample. So, in the beginning after the initial preprocessing of the data, with Matlab and Clementine software, using SSE criteria and K-Means method, the companies were converted to 3 clusters and the result of these clustering were measured by the standard quality measures. Finally, by using the C5 decision tree, cluster analysis and variables affecting profitability were identified; so that from the 32 considered variables only 8 includes: Gross profit to total assets, sales to total assets, profit to equity, operating profit to net sales, accrued profit and loss to equity, net profit to net sales, total liabilities to total assets and current assets to total assets affect the profitability of companies. At last, by taking these variables into account, prediction of each cluster was done, and the accuracy of the predictions sequence was 86,34%, 88,15% and 68.81%
Jamal Barzegari Khanagha; habib ansari samani; lida razzazzadeh
Abstract
Severe economic fluctuations and adverse consequences for investors. The need for predictive models has made corporate finance necessary. In this regard, This research is intended by examining the relationship between financial ratios and the content of the board's reports open a new way to predict company ...
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Severe economic fluctuations and adverse consequences for investors. The need for predictive models has made corporate finance necessary. In this regard, This research is intended by examining the relationship between financial ratios and the content of the board's reports open a new way to predict company status. For this purpose, were extracted frequency of words and phrases with positive and negative semantic load using the word extraction algorithm, From the text of the board's reports 219 non helpless companies and 81 helpless companies. Results of regression estimation positive and negative words ratio on financial performance indicators, shows in companies with financial health, negative words have a significant relationship with functional criteria. Evidence showed in these companies, managers are not trying to hide their financial crisis. The results for the helpless companies were different In general, there was no meaningful relationship between the words with the performance indicators of these companies. It looks like this group of companies by confusing the, they try to prevent to selling from their shares by stakeholders.
Volume 11, Issue 42 , July 2014, , Pages 139-156
Gholamhossein Asadi; Alireza Pourbagherian
Volume 8, Issue 29 , April 2010, , Pages 139-153
Abstract
One of the most important fields of management decision making that has important effect on the wealth of stockholders is financing methods of the firm. Companies need financial resources for their current operation & future growth. For financing, companies usually face some limitations; therefore ...
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One of the most important fields of management decision making that has important effect on the wealth of stockholders is financing methods of the firm. Companies need financial resources for their current operation & future growth. For financing, companies usually face some limitations; therefore company should use its current funds in a way that creates value for both investors & company.
This research intends to investigate whether companies financing methods have an impact on their future returns or not.
We examined 111 firms over the period 1381-1385 selected from Tehran stock exchange.
This research is an empirical study, which investigates the relation between accounting and financial variables by using regression method & Pearson’s correlation coefficient. The methodology of this research is post event study.
Results indicate that there is reverse relation between cash flows from financing activities (cash flows form borrowing) and future stock return. We also find that there is no significant relation between cash flows from issuing bonds and the future stock return.
Overall, the results show that companies were not successful in generating return for their stockholders by using different financing methods.
gharibe esmailikia; farshad sabzalipour; manzar bagharizadeh; mehdi omidi
Abstract
New public management is an evolving phenomenon and accounting has played a central role in its reforms. The investigations have shown that accounting reforms have fallen short of expectations and this cannot be simply related to the technical design of accounting tools. Understanding and implementing ...
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New public management is an evolving phenomenon and accounting has played a central role in its reforms. The investigations have shown that accounting reforms have fallen short of expectations and this cannot be simply related to the technical design of accounting tools. Understanding and implementing public-sector accounting reforms require looking at accounting as a social and human practice rather than a technical device. So this research aims to investigate the impact of public sector accounting reforms on accountants’ identity by focusing on the Actor-Network-Theory. The statistical population of the present research is all the employees of accounting and finance departments in the governmental agencies of Ilam city. Using Cochran’s formula, a sample of 113 people is determined. The data of 121 completed questionnaires are analyzed by SPSS using chi-square and t-test. The result has shown that the reforms have not been implemented in accordance with the four stages of the process of forming the Network of Actors; in other words, unified and cohesive actors networks have not been created. Also, according to the literature, four types of identities are identified among accountants. The largest number of them is Ascendant Accountant. Accounting innovations may imply the design and study of technical features, but the success of their implementation requires attention to the human dimension. Disregarding this dimension will have serious adverse consequences such as increased stress, weakening of motivation, morale, illness, and even tangible negative effects on employee identities, which lead to a low level of acceptance of the reforms and even its limited impact.
Accounting and various aspects of finance
Ramin Hosseini; Alireza Matoufi; Mansor Kargaz; Ali Khozan
Abstract
One of the problems that many organizations have is changing the behavior of the employees of that organization. Leaving the state of behavioral balance can be considered as human behavioral entropy that can no longer comment on his behavior. Understanding the causes of these behaviors can prevent many ...
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One of the problems that many organizations have is changing the behavior of the employees of that organization. Leaving the state of behavioral balance can be considered as human behavioral entropy that can no longer comment on his behavior. Understanding the causes of these behaviors can prevent many problems in organizations. The purpose of this study is to develop a model of auditors' behavioral entropy.. The present study was conducted in the framework of a qualitative approach and using the data research method of the foundation in 2019. Data collection tools were semi-structured interviews and in order to collect information, using purposive sampling method with 29 auditors of the auditing organization and managers of the auditing organization, 15 of whom were members of the community. And 14 of them were other auditors, familiar with the concept of behavioral entropy. In Tehran, interviews were conducted using the snowball method. . Data analysis was performed in three stages of open coding, axial coding and selective coding. Based on that, a qualitative research model was designed. In this model, the most important causal factors included the economic characteristics of the country, the auditor's financial condition, individual and family characteristics, educational and experimental characteristics. Based on that, a qualitative research model was designed. In this model, the most important causal factors, including the economic characteristics of the country, are the audited financial conditions. The underlying context also includes the control system, commitment to professional use, and professional budgeting
S. H. Sajady; S. M. عضو هیات علمی دانشگاه شهید چمران اهواز
Volume 1, Issue 2 , July 2003, , Pages 141-170
Abstract
This research is seen to have been embarked on to specify developmental obstacles in the computer assisted Accounting in Formation Systems (AIS) in productive centers of Kuzistan province. Accordingly, six factors which have been tested as hypothesis regarding the deterring as hypothesis regarding the ...
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This research is seen to have been embarked on to specify developmental obstacles in the computer assisted Accounting in Formation Systems (AIS) in productive centers of Kuzistan province. Accordingly, six factors which have been tested as hypothesis regarding the deterring as hypothesis regarding the deterring constraints in the so - called companies have been inquisitively reviewed. As a result uninformed management lack of awareness with computer system potentialities, unstandardized accounting knowledge of experts. Lack of professional standards in the domain of computer - assisted information systems are detected as serious deterrents to the system in question. But, the high cost of designing information system for accounting is not accounted for to dramatically impede the prospective developments.
H. Mahmoodabadi; Z. Zamani
Abstract
AbstractCorporate risk taking is important perspective related to performance.This paper is investigating the relationship between corporate risktaking and financial performance along with checking for the impactof corporate governance mechanism on risk and performance linkage.To achieve the mentioned ...
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AbstractCorporate risk taking is important perspective related to performance.This paper is investigating the relationship between corporate risktaking and financial performance along with checking for the impactof corporate governance mechanism on risk and performance linkage.To achieve the mentioned goal 101 companies listed on Tehran StockExchange over the period of 2005 to 2012 (including 808 firm- years)were examined through correlation test and using the liner regressionmodel. Result show corporate risk taking have significant positiverelationship with financial performance. In addition, boardindependence have significant negative relationship with corporaterisk taking; while association of Institutional investor and board sizeand corporate risk taking is not significant. Findings also show thatboard independence, board size and institutional investor have directsignificant impact on the relationship between corporate risk takingand financial performance
seyedmehdi seyedmotahari
Accounting and various aspects of finance
Roya Soltani; Ali ebrahimnejad
Abstract
In this study, we examine the market reaction to the asset revaluation of listed companies. We first estimate the market reaction to the asset revaluation announcement, then explore potential explanations for the market reaction. Asset revaluation can improve firm's access to financing by improving financial ...
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In this study, we examine the market reaction to the asset revaluation of listed companies. We first estimate the market reaction to the asset revaluation announcement, then explore potential explanations for the market reaction. Asset revaluation can improve firm's access to financing by improving financial ratios. On the other hand, the increase in the firm's capital from the revaluation is accompanied by stock split which results in a decrease in the theoretical share price. This apparent drop in theoretical share prices could induce shareholders' interest as a result of money illusion. To assess these alternative explanations, we run a cross-sectional regression of the cumulative abnormal return on proxies of each factor. To further explore the driver of market reaction, we examine whether firms that have re-evaluated their assets could improve their access to financing or reduce their financing costs. For this purpose, we study a panel of listed companies between 2011 and 2019 for their access to finance, financing cost, investment, and financial leverage, controlling for the firm and year fixed effects. Our results are more consistent with the nominal price reductions causing the market reaction. We do not find evidence of asset revaluations leading to the firm's better access to financing.
Farshid Kheirallahi; Eshagh Behshoor; Farzad Eivani
Volume 11, Issue 44 , March 2015, , Pages 145-161
Abstract
Decreasing interest conflicts between stockholders and executives is thecorporate governance’s role and this is accentuated when managers perceivemotivations to deviate from the advantage of stockholders. Corporategovernance is likely to diminish profit management while improving theinvestors’ ...
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Decreasing interest conflicts between stockholders and executives is thecorporate governance’s role and this is accentuated when managers perceivemotivations to deviate from the advantage of stockholders. Corporategovernance is likely to diminish profit management while improving theinvestors’ understanding of cash maintenance. This study aims atrecognizing relevance among real profit management and corporategovernance. To measure profit management, Recovery models (2006) andJenni (2010) and for measuring the relevance between cash maintenance andprofit management, modified models of Opler (1999) and Phama and Fringe(1998) have been deployed in this study. Percentage of non-obligatedmembers of executive board (executive board independence) has beenutilized as the substantial feature of corporate governance. As for testing thehypotheses, multi-variable linear regression model and integratedgeneralized least squares method were used. Considering the limitationsimposed in selection, statistical sampling of the study includes 90 acceptedcompanies in Tehran Stock Exchange that have undergone research between2008 and 2012. The findings indicate that there is a meaningful positiverelevance between real profit management and cash maintenance. Investorsdecrease cash maintenance in companies with high real profit managementand compared to businesses with strong corporate governance, weaker onespossess less evaluations of cash maintenance among those which performprofit management in its high levels.
Navid Paidarmanesh; Mahdi Salehi Salehi; Mahdi Moradi
Abstract
According to the agency theory, signaling theory, Stakeholder theory, asymmetry information theory and proof of the users of financial statements need to this information and its confirm by independent auditor, therefore we study the relationship between independent audit quality and ...
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According to the agency theory, signaling theory, Stakeholder theory, asymmetry information theory and proof of the users of financial statements need to this information and its confirm by independent auditor, therefore we study the relationship between independent audit quality and disclosure quality of financial statement In this research. The study covers a period from 2009 to 2013 for companies in the Stock Exchange of Tehran. Audit quality is the independent variable in this research that measured by auditor industry specialization, auditor tenure, reputation and quality of audit firm, antiquity and experience of auditor and audit fees and disclosure quality is dependent variable that measured by given annually point to companies. We use the R software for analyze the model. This study has six hypothesis for each of six independent variables. According to the statically results for research model, all of the six hypothesis rejected and we find that there is no significant relationship between each of independent variables and disclosure quality. According to rejection of all the hypothesis, we conclude that there is no relationship between independent audit quality and disclosure quality of financial statement Tehran Stock Exchange companies.
Pari Khodakarimi; Parviz Piri
Abstract
Today’s, bankruptcy and financial distress is one of the important factors for decision making process of market participants, so the need to predicting them with using a suitable model is the manifest of financial market analysts and investors because it have a significant effect on shareholders' ...
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Today’s, bankruptcy and financial distress is one of the important factors for decision making process of market participants, so the need to predicting them with using a suitable model is the manifest of financial market analysts and investors because it have a significant effect on shareholders' wealth in the market. With such importance, the aim of this paper is to introduce a suitable model for predicting financial distress at Tehran stock exchange listed companies.For achieving this goal, thirteen variables including eight accounting and five market variables were used to determine financial distress with applying Logistic regression method from 2008 to 2016. For testing research hypothesis, the dates of 928 firm-year (522 distressed and 406 sound firm -year) was gathered listed in Tehran Stock Exchange (1040 firm-year).The results showed that a combination of accounting and market dates can predict distress in firms and can be a ground for further studies on financial distress.
