alireza kian; Omid Pourheydari; Yahya Kamyab
Abstract
Managers use the flexibility of current financial reporting standards to separate or aggregate items of income statement. This feature of the standards has led to separate or aggregate of items in the financial statements as one of the challenging issues for managers. Hence, the purpose ...
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Managers use the flexibility of current financial reporting standards to separate or aggregate items of income statement. This feature of the standards has led to separate or aggregate of items in the financial statements as one of the challenging issues for managers. Hence, the purpose of this research is to investigate thebehavior of managers in applying the theory of mental accounting in income statement reporting. In this regard, this research was conducted through a survey method and in a laboratory environment by distributing a questionnaire between 67 Iranian financial managers participating in IFRS courses in 2016. In this research, a series of experiments related to separate or aggregate information of profit and loss of selling fixed asset were tested to determine whether financial managers preferred to follow the predictions of mental accounting theory or not. To test the hypothesis of the research, repeated measurement of two-way and paired t-test has been used.The results of the research indicate that managers prefer to distinguish mental accounting. Our research has comments to standard setters, legislators, and researchers
Majid Shariatpannahi; Mohsen Shorabi Araghi
Volume 4, Issue 16 , January 2007, , Pages 19-41
Abstract
Men have always been interested in predicting different events, such as financial distress in different firms.
In this research also has been tried to answer if it is possible to predict financial distress on the base of financial ratios, and if the answer is yes, to present a model in order to distinguish ...
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Men have always been interested in predicting different events, such as financial distress in different firms.
In this research also has been tried to answer if it is possible to predict financial distress on the base of financial ratios, and if the answer is yes, to present a model in order to distinguish these two groups on the base of the Tobin's Q.
By applying Multiple Discriminant Analysis (M.D.A.) and SPSS for data analysis, the conclusion shows that the following five financial ratios can do this distinguishment.
- Earning before tax to current debt
- Market valve to debt
- Return on asset
- Retained profit to asset
- Long debt to asset
H. Khaleghi Moghadam; F. Karami
Volume 6, Issue 23 , October 2008, , Pages 19-41
Abstract
This paper aims to evaluate the earning forecasting model based on cost variability and cost stickiness in comparison to other forecasting models. Cost stickiness means that the rate of decrease in costs while sale declines is less than the rate of increase in costs while sale grows. In other ...
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This paper aims to evaluate the earning forecasting model based on cost variability and cost stickiness in comparison to other forecasting models. Cost stickiness means that the rate of decrease in costs while sale declines is less than the rate of increase in costs while sale grows. In other word, costs are sticky downward. The data used in this research was gathered from 85 companies accepted in Tehran stock market from 1994 to 2004. To analyze the data two regression techniques called simple and rolling methods and also confidence coefficient R2 and F test are used. The results indicate that the power of the earning forecasting model based on cost variability and cost stickiness is significantly more than the others'.
Mohsen Khoshtinat; Raheleh Yaghoubi
Volume 4, Issue 15 , October 2006, , Pages 21-41
Abstract
Policy makers, considering alternatives for tax reform view the value - added tax (VAT) as an alternative option for restructuring tax systems. The necessity of establishing a tax system is one of the concepts taken account of before designing or restructuring a tax system.
In this research according ...
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Policy makers, considering alternatives for tax reform view the value - added tax (VAT) as an alternative option for restructuring tax systems. The necessity of establishing a tax system is one of the concepts taken account of before designing or restructuring a tax system.
In this research according to current social, cultural and economic circumstances of the society, the necessity of establishing the value - added tax system in Iran is invest gated.
The results of this study reveal that applying the value - added tax rate suggested by the Government , 7 per cent, may not only decrease the total net tax revenues but also seems to decrease the citizen's wealth because of intense expenditure of implementing and applying of this new tax system.
Therefore, applying the previous suggested tax rate of 10% seems more reasonable.
Mohsen Khoshtinat; Morteza Akbari
Volume 5, Issue 19 , October 2007, , Pages 21-49
Abstract
Different information introduced to the market by the listed companies affect share prices in the capital market. Some are used for forecasting and estimation, so its credibility and authenticity is under question. A major problem almost all managers are facing with is that to what degree their earnings ...
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Different information introduced to the market by the listed companies affect share prices in the capital market. Some are used for forecasting and estimation, so its credibility and authenticity is under question. A major problem almost all managers are facing with is that to what degree their earnings forecast is reliable to the capital market, how they are affected by different variables, and how authenticity can be augmented. This article empirically tries to investigate the effect of the factors reviewed by foreign scholars, on Tehran Stock Exchange. The research hypotheses are based on evaluating five factors including type of information (positive or negative), deviation in forecasting (managers credibility), forecast timing, size of the companies, and adjustment or non-adjustment of the forecasted information. Considering the volatility of the share price at the time of projected profit declared by the negative information (a lower forecasted earning) severely makes share price sensitive; unlike positive information which does no draw as much attention of shareholders and brokers as the negative information. Secondly, the size of the listed companies has a wider effect on the investors to accept the projected profit. Thirdly, the materialization of the past forecasts affects acceptance of the future forecasts as well. Fourth, medium-term forecasts values more reaction on share prices rather than the long-term ones. And finally adjustment of the forecasts has no effect on the upcoming forecasts. In short, this study tries to raise the awareness concerning how managers can link their projected future profits to the market.
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.
H etemadi; H farzani; A rahmani
Volume 9, Issue 36 , January 2012, , Pages 23-51
Abstract
Choosing between debt financing and capital financing influenced by internal and external factors impacting companies' capital structure. The main goal of determining capital structure is to recognize the combination of financial resources to maximize stockholders' wealth. Because of the qualitative ...
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Choosing between debt financing and capital financing influenced by internal and external factors impacting companies' capital structure. The main goal of determining capital structure is to recognize the combination of financial resources to maximize stockholders' wealth. Because of the qualitative aspects of capital formation in high-tech companies, there has been huge investments in these companies which doesn’t seem to be a rational behavior in the investment community; Therefore it seems necessary to compare high-tech and traditional company’s capital structure. In this paper, in order to investigate the capital structure of high-tech and traditional companies and also comparing linear and non-linear models, companies are divided into two groups, high-tech and traditional companies. We collected year-company data of 378 companies during 2004- 2009 for the analysis using multiple regression and artificial neural network. The findings of this study indicate that liability ratio and financial leverage decisions in two above mentioned companies are different. The capital structure criterion in both industries has significantly different and non-linear models of capital structure in comparison with linear ones are more powerful in prediction
A Badri; M-A Qahraman
Volume 9, Issue 35 , October 2012, , Pages 23-47
Abstract
This research investigates the relationship between income smoothing and cost of equity. This event study has been done using observations analysis. Cost of equity has been calculated using four models: Gebhardt et al (2001), Claus and Thomas (2001), Gode and Mohanram (2003) and Easton(2004). The sample ...
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This research investigates the relationship between income smoothing and cost of equity. This event study has been done using observations analysis. Cost of equity has been calculated using four models: Gebhardt et al (2001), Claus and Thomas (2001), Gode and Mohanram (2003) and Easton(2004). The sample consists of 87 companies in a 15-year time period from 1996 to 2010 and hypotheses test were run using 8,526 year / company observations. The results show that using Gebhardt et al (2001) and Gode & Mohanram (2003) models for calculating cost of equity, there is a significant and positive relationship between income smoothing and cost of equity.
Mohammad Arabmazar Yazdi; Ahmad Badri; Maryam Davallou
Abstract
The purpose of this research is the empirical test of idiosyncratic risk pricing in Tehran Stock Exchange during 1378 to 1389. The research is considered as “Ex-post facto” that has been done using “portfolio study approach” and is based on observational data. The statistical ...
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The purpose of this research is the empirical test of idiosyncratic risk pricing in Tehran Stock Exchange during 1378 to 1389. The research is considered as “Ex-post facto” that has been done using “portfolio study approach” and is based on observational data. The statistical sample composed of 11880 firms/season observations from 270 listed companies in Tehran Stock Exchange. Results show that investors expect to compensate (obtain risk premium) for bearing idiosyncratic risk. The performance of momentum portfolios based on idiosyncratic risk always is positive and statistically significant. Furthermore, the robustness tests confirm that this positive performance is not influenced by weak trading effects, change in idiosyncratic volatility estimation method and weighting scheme of return computation
Yahya Hassas Yeganeh; Rasool Heidari
Volume 6, Issue 22 , July 2008, , Pages 23-45
Abstract
According to Agency Theory, when size, debt leverage and salaries of personals is increased, the probability of voluntary choice of qualified auditor will be increased. Therefore, we selected 342 listed companies in Tehran Stock Exchange (TSE).
We examined a selection of qualified auditors when the ...
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According to Agency Theory, when size, debt leverage and salaries of personals is increased, the probability of voluntary choice of qualified auditor will be increased. Therefore, we selected 342 listed companies in Tehran Stock Exchange (TSE).
We examined a selection of qualified auditors when the variable is changed. The result of this research shows no relation between debt and salaries, and selection of qualified auditors. We used De. Angelo (1981) modified Auditing qualified index for the selection of auditors.
Mohammad Ali Aghaei; Rahman Sajadpour
Volume 8, Issue 32 , January 2011, , Pages 23-47
Abstract
Disclosure of comprehensive income items helps to shareholders to evaluate the stock returns and managers to improve the allocation of financial resources can help. Comprehensive income is reported net profit, FCT, SEC, AA. If classified information is expected to increase its financial information. ...
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Disclosure of comprehensive income items helps to shareholders to evaluate the stock returns and managers to improve the allocation of financial resources can help. Comprehensive income is reported net profit, FCT, SEC, AA. If classified information is expected to increase its financial information. Instead of the economic information income in financial reports, such as comprehensive is difficult and the role of financial analysts and the information content of financial statements is impressive. Due to the homogeneity of variables accounting, content relative to comprehensive income and the incremental information content the items with companies listed on Tehran stock exchange data over the years 2001-2010, using multiple linear regression and the Vuong test were studied. The results show that comprehensive income for the explanatory power is stronger, and the other items of comprehensive income are incremental information content. This result with the research evidence Biddle and Choi (2006) in America, and KiridaranKanagaretnam(2009) in Canada is similar.
Mohammad Ali Aghaei ; Hassan Hassani; Hassan Bagheri
Abstract
In this study, the effect of managerial ability have been studied on tax avoidance in the companies listed in Tehran Stock Exchange. The Indicators used to measure avoid paying tax are the book effective tax rate, the cash effective tax rate and long-run cash effective tax rate. The sample includes 122 ...
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In this study, the effect of managerial ability have been studied on tax avoidance in the companies listed in Tehran Stock Exchange. The Indicators used to measure avoid paying tax are the book effective tax rate, the cash effective tax rate and long-run cash effective tax rate. The sample includes 122 companies listed in Tehran Stock Exchange for 87 to 93. The results showed that there is positive significant relationship between managerial ability and the three proxies used to avoid paying taxes. This means that higher ability managers engaging in more tax avoidance activities that reduce their firms’ cash tax payments. On the other hand, the results indicate that firms have good performance, managers with a high level of ability engaging in less tax avoidance activities. In general, the results show that in addition to the features of the firm, managerial ability influences the tax avoidance behavior of the firm.
Farrokh Barzideh
Volume 11, Issue 43 , October 2014, , Pages 25-55
Abstract
This research compares regression analysis including cross section regression and pooled regression for test of functional fixation hypothesis. The Comparison of cross section and pooled regression in case of functional fixation hypothesis is done. The comparison includes some statistical measures like ...
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This research compares regression analysis including cross section regression and pooled regression for test of functional fixation hypothesis. The Comparison of cross section and pooled regression in case of functional fixation hypothesis is done. The comparison includes some statistical measures like beta coefficients, F test and T test and model assumptions. The results reveal that in both of univariate and multivariate regressions, the results are same statically point of view for cross section regressions and pooled regressions. Of course numbers of mentioned measures are different but it is not significant statically.
M. A. Aghaee; S. Ali Hoseini
Volume 1, Issue 4 , January 2004, , Pages 25-46
Abstract
This study examines the predictability of accounting profit of the firms accepted at the Tehran Stock Exchange by adjusted Random Walk with past changes of Economic Leading Indicators.
In random walk model, actual profit numbers of past years are independent variables. This model is based on assumption ...
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This study examines the predictability of accounting profit of the firms accepted at the Tehran Stock Exchange by adjusted Random Walk with past changes of Economic Leading Indicators.
In random walk model, actual profit numbers of past years are independent variables. This model is based on assumption that behavior of accounting profit is a random Process.
Since the economic lead indicators produce accurate signals about future changes of target variables (e.g. accounting profit and stock price of firms), adjustment of actual profit by proportion of change of this indicators in profit forecasting models like random walk model, can produce better forecasting.
The result suggests that adjusted random walk model by proportion of change of two lead indicators, broad money supply and aggregate loans paid to governmental and non-governmental sectors by banking system of Iran including the three-year lag, can produce better forecasting.
Mohammad Namazi; Mohammad Sayrani
Volume 2, Issue 5 , April 2004, , Pages 25-60
Abstract
This research is carried out by the use of agency theory in considering twoimportant subjects: - Relation of giving bonus to CEO which is compensation plan from accounting profit, profit growth, and Market Value Added (M.V.A.) -Studying important structures in identifying bonus of CEO's. ...
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This research is carried out by the use of agency theory in considering twoimportant subjects: - Relation of giving bonus to CEO which is compensation plan from accounting profit, profit growth, and Market Value Added (M.V.A.) -Studying important structures in identifying bonus of CEO's. In the first case, from the gathered information of profit making companies accepted in Tehran Stock Exchange ( T.S.E. ) in the years 1376 to 1380. Methods used in variance and regression analysis. In the second case measurement research has been done by submitting some form of questioners and gathering viewpoint of managing directors and consultants of holding companies, investment companies and industrial organizations by statistical techniques, binomial test and analysis of variance test and Kruskal- wallis test. At the end, analysis and results research, the summery of above cases has been submitted.
Mohsen Khoshtinat; Javad Bostanian
Volume 5, Issue 18 , July 2007, , Pages 25-57
Abstract
Professional Judgment is one of the major elements of auditing. Auditors continually use their Professional Judgment both to judge whether the accounting treatment used by the preparers of financial statements are according to Accounting Standards and to Judge ...
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Professional Judgment is one of the major elements of auditing. Auditors continually use their Professional Judgment both to judge whether the accounting treatment used by the preparers of financial statements are according to Accounting Standards and to Judge how to carry out their audits.
Recognition of the sense of auditors’ professional Judgment and factors affecting their professional judgments is essential so that the auditors judgment s are applied appropriately and this not to lead to freedom of auditors from any discipline or auditors to carry out unlimited liberty. Recognition of professional Judgment dimensions in auditing can also clarify which characters desire to make professional judgment and which environment factors influence their professional judgments.
Research findings suggest that knowledge, experience, integrity, independence, moral behavior, professional skepticism and field independence are the most important personal characteristics of auditors, which affect their professional judgment and professional oversight, accountability necessities, existence of audit programs and check lists and clarity of Accounting and Auditing Standards are the most influent audit environment factors affecting auditors’ professional judgments.
Mohammad Javad Salim; Jafar Babajani; Abolfazl Jafari
Abstract
One of the essential needs of Iranian financial market participants (including money market and capital market participants) is rating Iranian banks based on their financial strength. This rating helps stakeholders, including shareholders, investors, customers, central bank and etc., to obtain more accurate ...
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One of the essential needs of Iranian financial market participants (including money market and capital market participants) is rating Iranian banks based on their financial strength. This rating helps stakeholders, including shareholders, investors, customers, central bank and etc., to obtain more accurate information regarding inherent safety and soundness of Iranian banks. The aim of this study is rating Iranian banks, based on financial strength, specifically those listed on the Tehran Stock Exchange (TSE) and Iran OTC market. All the banks were separated into two groups of privatized and non-governmental banks. The period of the research is 5 years from 2012 to 2016. For this purpose, first a financial strength score was determined for each of the banks using a reflective component-based model which includes 4 dimensions, 8 factors and 51 indicators, Then the banks were ranked based on their financial strength scores in two separate groups of privatized and non-governmental banks. The results show that privatized banks compared with non-governmental banks have higher financial strength scores. In the group of privatized banks, Mellat Bank had the highest score and hence the highest rank in terms of financial strength. In the group of non-governmental banks, Pasargad Bank, EN Bank and Parsian Bank, respectively had the highest scores and hence the highest ranks in terms of financial strength.
Hamid Haghighat; Hadi Heidari
Volume 10, Issue 40 , January 2014, , Pages 27-52
Abstract
Firms experiencing positive cash flow have substantially more investment opportunities. When facing negative cash flows, a firm would not save the same magnitude of cash holdings, which leads to a cash flow sensitivity of cash. The present research, examines the Asymmetric cash flow sensitivity of cash ...
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Firms experiencing positive cash flow have substantially more investment opportunities. When facing negative cash flows, a firm would not save the same magnitude of cash holdings, which leads to a cash flow sensitivity of cash. The present research, examines the Asymmetric cash flow sensitivity of cash holdings. In this order, The samples included over 120 sample of companies listed in Tehran Stock Exchange During the years of 2003-2012 was chosen. In order to estimate the statistical model, regression method with panel data has been used. For classification companies in two groups financial constraints and unconstrained, the ww index, Payout ratio and Firm size be used. The results show that, the Positive and negative cash flow sensitivity of cash holdings is different. According to ww index and Firm size, The magnitude of the asymmetry of the cash flow sensitivity of cash is less for a financially constrained firm than for a financially unconstrained firm. Also, The magnitude of the cash flow sensitivity of cash is larger for firms with stronger outside monitoring.
Yahya Hassas Yeganeh; Matin Hassannejad
Abstract
In this research, the usefulness of balance sheet and income statement information have been considered in compare with income statement to explain stock returns of 104 sample companies which are accepted in Tehran security exchange since 1382 till 1390. The investors consider future value of stock returns ...
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In this research, the usefulness of balance sheet and income statement information have been considered in compare with income statement to explain stock returns of 104 sample companies which are accepted in Tehran security exchange since 1382 till 1390. The investors consider future value of stock returns at the time of investment in companies share. This research, tried to help the investors to choose a best finance and investment chance. The data utilized to test the research assumptions are generally compound data. To test the research assumptions, multi variable regressions have been applied. The descriptive and perceptive statistical methods, including adjusted multiple, are applied. The result of this research indicated more ability and profitability of stock return at the time of using information in the model of balance sheet and income statement together in compare with only income statement usage. Specially in Loss versus profit companies and Young versus mature companies or with Firms with uncertain future earnings
Yahya Hassas Yeganeh; Sara Yaghoobi Manesh
Volume 1, Issue 3 , October 2003, , Pages 27-59
Abstract
The existence of the reliable financial information is necessary for the permanence Eternity of the today world financial (economic) decision making needs to confident and reliable information. The role of the ·auditors is to attest (verify) the financial statements that results in being confident ...
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The existence of the reliable financial information is necessary for the permanence Eternity of the today world financial (economic) decision making needs to confident and reliable information. The role of the ·auditors is to attest (verify) the financial statements that results in being confident and sure about the desirability of the presentation and reliability of the financial statements.
The main goals of this research is study and make conclusion about the auditing functions in attesting to financial statements in Iran and its reflecting on the stock-holders behavior has been Studied. In this paper the effect of the different opinions and qualifications in auditing reports on the stock prices has been assessed. Testing research hypothesis shows that there is a meaningful relation between auditing reports and stock prices.
Jafar Babajani
Volume 2, Issue 6 , July 2004, , Pages 27-54
Abstract
In a democratic society, Power ultimately rests in the hands of the citizen ry. The citizens delegate that power to public officials through the election process.In such society accountability requires government to answer the citizenry - to justify the raising of public resources and the purposes of ...
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In a democratic society, Power ultimately rests in the hands of the citizen ry. The citizens delegate that power to public officials through the election process.In such society accountability requires government to answer the citizenry - to justify the raising of public resources and the purposes of which they are used.Govern mental accountability is based on the belief that the citizenry has a " right to know", a right to receive only declared facts that may lead to public debate by the citizens and their elected representatives. Accounting and financial reporting plays a major role in fulfilling government's duty to be publicly accountable in the democratic society (GASB, 1993).
The main purpose of this research is assessing accountability of governmental accounting and financial reporting system of Islamic Republic of Iran. In accordance to that purpose this research 1s divided to three stages as described below:
Review and study governmental accounting and financial reporting conceptual framework and principles in order to determine key elements which affect the level of governmental accounting and financial reporting’s accountability
Obtaining the opinion of accounting and auditing experts and university lecturers about key elements of accounting and financial reporting system in order to obtain general agreement of those experts by Delphi survey technique.
Comparing characteristics of Islamic Republic government financial reporting system, with those selected criterion in order to assess accountability of Iran financial reporting system.
The results of those three stages of research, shows that Iran 's Islamic Republic government reporting system has major deficiencies in fulfilling government accountability in the field of budgetary control, recognition of actual revenues and expenditures, general long term debts, capital asset , financial position and results of operations on the comprehensive annual financial report.
Finally, researcher has made some recommendation in order to improve major deficiencies of governmental accounting and reporting system.
Omid Poorheidari; Mahmood Kohansal
Volume 3, Issue 9 , April 2005, , Pages 27-41
Abstract
The role of accounting information in setting security prices is one of the most fundamental issues in accounting. The purpose of this study is to extend the research on the value relevance of accounting numbers in two important directions. Firstly, we consider the Iran context and analyze if earnings ...
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The role of accounting information in setting security prices is one of the most fundamental issues in accounting. The purpose of this study is to extend the research on the value relevance of accounting numbers in two important directions. Firstly, we consider the Iran context and analyze if earnings and/or cash flows are relevant to explain stock returns. Secondly, we investigate how firm-specific attributes such as size, leverage and firm life-cycle influence the relative relevance of accounting measures (earnings and cash. flows). Our results support a linear relationship between stock returns and accounting variables. They indicate also that the relevance of earnings is conditional on size, debt level and life cycle of the firm. In contrast, the earning change reveals more information when the firms are small, mature and leverage firms. With regards to cash flows, we find that they do not reveal additional information beyond that contained in earnings.
Mohsen Khoshtinat; Sbahpoor Esmaeeli
Volume 3, Issue 12 , January 2006, , Pages 27-56
Abstract
This research undertakes the relationship between earnings quality and stock return of the listed companies in the Tehran Stock Exchange.
The aim of this research is to assess whether the investors, analysts, and etc. have comprehend the quality of the accountancy information (earnings quality) and ...
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This research undertakes the relationship between earnings quality and stock return of the listed companies in the Tehran Stock Exchange.
The aim of this research is to assess whether the investors, analysts, and etc. have comprehend the quality of the accountancy information (earnings quality) and utilize it in their decision making process? In order to find the answer to this question we need to take in to account the market reaction.
We can assess and evaluate the market reaction with the use of the accumulated data published and in the following two ways:
1- Volume of transactions
2- Share price and subsequently the stock return
Therefore in this research stock return is an independent variable.
Within the earnings quality assessment criteria, two criteria, the ratio between cash flows resulted from operational activities with operational earning and accruals , are selected and their influence on stock return of listed companies in the Tehran Stock Exchange are examined.
This research considers four hypotheses. In these hypotheses earnings quality, accruals, discretionary and nondiscretionary accruals are considered as independent variables and stock return as dependent variable. The examination of the research hypotheses, with the help of regression analysis during the period of 1379-1383 (Iranian calendar year), shows that there is little influence between earnings quality and stock returns.
Hamid Khaleghi Moghadam; Parviz Piri
Volume 5, Issue 17 , April 2007, , Pages 27-61
Abstract
In the view or market theoreticians, investors and other participants, attain more successful with appropriate valuation measures. This article tries to show and compare the effect and relevance between various market indicators and stock price predictions.
For this purposes, market indicators ...
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In the view or market theoreticians, investors and other participants, attain more successful with appropriate valuation measures. This article tries to show and compare the effect and relevance between various market indicators and stock price predictions.
For this purposes, market indicators have been categorized in three groups of: structural indicators, flow of fund indicators and sentiment indicators.
Single and multiple regression was used to test the research hypothesis and various market indicators. At last this paper concludes that the price variation can be predicted with indicators of I )firm size 2)earnings per share grouch 3)market breadth 4)free float rate and S)book value per share to price ratio. In other words, 53.5 % of stock price variations in Tehran stock exchange can be predicted with these four variables.
omid pourheidari; Aref Forughi
Abstract
Influence of managers, specifically CEOs which is used as a mean of control the output of accounting information, may lead to management of disclosure quality timeliness and present information quality aligned with management interests. The presented study goal is to examine influence of CEO on disclosure ...
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Influence of managers, specifically CEOs which is used as a mean of control the output of accounting information, may lead to management of disclosure quality timeliness and present information quality aligned with management interests. The presented study goal is to examine influence of CEO on disclosure quality of accounting information in Tehran Stock Exchange Listed Companies. In this paper, CEO tenure, duality of CEO role and mandate of executive board were used to measure management power. To examine the proposed hypothesis in this study, General linear model has been used. The samples were collected from 122 of the Companies listed in the Tehran Stock Exchange Between 2010 to 2017. Findings suggest that timeliness of accounting data has a negative and meaningful relation with management power. Meanwhile there was no trace of a meaningful relation between disclosure quality of accounting information and capacity of reliability on such accounting data; and management power. Such findings indicate that while managers use their power to timeliness of disclosure of data along with their interests, they refuse to use this power to sabotage the capacity of reliability of accounting information.
