Empirical Studies in Financial Accounting

Audit Opinion Modification and the Timing of Disclosure

Volume 11, Issue 42 , July 2014, Pages 1-29

Abstract

Accounting Quality, Stock Price Delay and Future Stock Returns

yAHYA hASSAS Yeganeh; Elham omidi

Volume 11, Issue 42 , July 2014, Pages 31-58

Abstract

Incremental Information Content of Earnings and Cash Flows from Operation and Their Extremity: Evidence from Tehran Stock Exchange

Gholamreza Karami; Ali E. Kordlar; Mohamad Sadegh Ghaznavi

Volume 11, Issue 42 , July 2014, Pages 87-59

Abstract

Investigating the Impacts of Voluntary Disclosure Level on the Information Asymmetry of the Companies Listed in Tehran Stock Exchange

Volume 11, Issue 42 , July 2014, Pages 89-114

Abstract

Managers venture to voluntary disclosure to inform investors about firms’ future point of views, goals and strategies. Financial and non-financial voluntary information reduce information asymmetry, increase stock liquidity and improve financial stability. In this research the relation of voluntary ... Read More Managers venture to voluntary disclosure to inform investors about firms’ future point of views, goals and strategies. Financial and non-financial voluntary information reduce information asymmetry, increase stock liquidity and improve financial stability. In this research the relation of voluntary disclosure level and information asymmetry of listed companies of Tehran Stock Exchange is investigated. Botosan (1997) check list which has been adjusted by kashanipour and et al. (2009) was utilized to measure voluntary disclosure level. The check list consists of 71 indices through six section of background information, the summery of historical results, Key Non-Financial Statistics, Segments Information, Projected Information and Management Discussion and Analysis. Moreover, information asymmetry variable is measured by using Venkatash and Chiang (1986) model. To test research hypotheses multivariate regression with panel data is utilized. The results show that there is no significant relation between voluntary disclosure level and information asymmetry of 122 listed companies of Tehran Stock Exchange during 2003-2011. Keywords: Voluntary disclosure level, Information asymmetry, Liquidity, Capital market. Managers venture to voluntary disclosure to inform investors about firms’ future point of views, goals and strategies. Financial and non-financial voluntary information reduce information asymmetry, increase stock liquidity and improve financial stability. In this research the relation of voluntary disclosure level and information asymmetry of listed companies of Tehran Stock Exchange is investigated. Botosan (1997) check list which has been adjusted by kashanipour and et al. (2009) was utilized to measure voluntary disclosure level. The check list consists of 71 indices through six section of background information, the summery of historical results, Key Non-Financial Statistics, Segments Information, Projected Information and Management Discussion and Analysis. Moreover, information asymmetry variable is measured by using Venkatash and Chiang (1986) model. To test research hypotheses multivariate regression with panel data is utilized. The results show that there is no significant relation between voluntary disclosure level and information asymmetry of 122 listed companies of Tehran Stock Exchange during 2003-2011. Keywords: Voluntary disclosure level, Information asymmetry, Liquidity, Capital market. In this research effect of extreme and moderate cash flows in explanatory power of model when the earnings are extreme is investigated through the extended version of Easton and Harris model. In this study in period of 1385 to 1391 we had 665 firm-year observations that after the removal of outliers we reach to 594 observations. We use OLS regression that in this regression we confront with unbalanced panel data with random effect. For classification of earnings and cash flows to extreme and moderate we use quintiles. Likewise, for comparing explanatory power of the models we use Cramer's (1987) Z-statistic. After all, with attention to statistic of this test we conclude that moderate cash flows relative to extreme cash flows when the earnings are extreme have effectson explanatory power. Keywords: Extreme Earnings, Moderate and Extreme Cash Flows from operation, Explanatory Power. In this research effect of extreme and moderate cash flows in explanatory power of model when the earnings are extreme is investigated through the extended version of Easton and Harris model. In this study in period of 1385 to 1391 we had 665 firm-year observations that after the removal of outliers we reach to 594 observations. We use OLS regression that in this regression we confront with unbalanced panel data with random effect. For classification of earnings and cash flows to extreme and moderate we use quintiles. Likewise, for comparing explanatory power of the models we use Cramer's (1987) Z-statistic. After all, with attention to statistic of this test we conclude that moderate cash flows relative to extreme cash flows when the earnings are extreme have effectson explanatory power. Keywords: Extreme Earnings, Moderate and Extreme Cash Flows from operation, Explanatory Power.

Investigation of Herding Behavior in Tehran Stock Exchange

Volume 11, Issue 42 , July 2014, Pages 139-156

Abstract

The Relationship between Corporate Governance and Efficiency of Inventory Management (Evidence from Tehran Stock Exchange)

Volume 11, Issue 42 , July 2014, Pages 157-184

Empirical Studies in Financial Accounting

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Volume & Issue: Volume 11, Issue 42, July 2014, Pages 1-193

Audit Opinion Modification and the Timing of Disclosure

Abstract

Accounting Quality, Stock Price Delay and Future Stock Returns

Abstract

Incremental Information Content of Earnings and Cash Flows from Operation and Their Extremity: Evidence from Tehran Stock Exchange

Abstract

Investigating the Impacts of Voluntary Disclosure Level on the Information Asymmetry of the Companies Listed in Tehran Stock Exchange

Abstract

Investigation of Herding Behavior in Tehran Stock Exchange

Abstract

The Relationship between Corporate Governance and Efficiency of Inventory Management (Evidence from Tehran Stock Exchange)

Abstract