Ahmad Ahmadpour; Masoumeh Shahsavari; Alireza amoozad Khalili
Abstract
In the age that firms deal with various challenges, financial safety and theFactors which end with recession are of great importance. Along with thefact mentioned, the present study considers the investigation of the effect ofconditional conservatism and accounting-based earnings attributes on risk ofbankruptcy ...
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In the age that firms deal with various challenges, financial safety and theFactors which end with recession are of great importance. Along with thefact mentioned, the present study considers the investigation of the effect ofconditional conservatism and accounting-based earnings attributes on risk ofbankruptcy in Firms Listed at the Tehran Stock Exchange. The Z’altman isused for measuring the risk of bankruptcy and accruals quality, earningspersistence, earnings predictability, and earnings smoothness used formeasuring the Accounting-based Earnings Attributes.The results ofestimating of research hypotheses using the panel data techniques in eviewssoftware for 126 firm of Tehran’s Stock Exchange during a period of fiveyears from 2010 To 2014, suggest that not only using the accountingconditional conservatism does not make any important change in decreasingof risk of bankruptcy, but also it is able to increase the financial distress ofIranian firms. Also, the result show the significant negative relation betweenthe accounting-based earnings attributes (Accruals quality, persistence andpredictability) with risk of bankruptcy of firms. Generally, The results revealthat risk of bankruptcy of firms are mostly influenced by economicalcondition of the country, the politics of financing, the size of the firms, thesort of industry ,and improvement of accounting-based earnings attributesrather than conditional conservatism approaches.
Moussa Bozorgasl; Azadeh Adibi
Abstract
In the age that firms deal with various challenges, financial safety and the Factors which end with recession are of great importance. Along with the fact mentioned, the present study considers the investigation of the effect of conditional conservatism and accounting-based earnings attributes ...
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In the age that firms deal with various challenges, financial safety and the Factors which end with recession are of great importance. Along with the fact mentioned, the present study considers the investigation of the effect of conditional conservatism and accounting-based earnings attributes on risk of bankruptcy in Firms Listed at the Tehran Stock Exchange. The Z’altman is used for measuring the risk of bankruptcy and accruals quality, earnings persistence, earnings predictability, and earnings smoothness used for measuring the Accounting-based Earnings Attributes.The results of estimating of research hypotheses using the panel data techniques in eviews software for 126 firm of Tehran’s Stock Exchange during a period of five years from 2010 To 2014, suggest that not only using the accounting conditional conservatism does not make any important change in decreasing of risk of bankruptcy, but also it is able to increase the financial distress of Iranian firms. Also, the result show the significant negative relation between the accounting-based earnings attributes (Accruals quality, persistence and predictability) with risk of bankruptcy of firms. Generally, The results revealthat risk of bankruptcy o f firms are mostly influenced by economical condition of the country, the politics of financing, the size of the firms, the sort of industry ,and improvement of accounting-based earnings attributesrather than conditional conservatism approaches.
Zahra Dianati Deylami; Amir Alam Baigi; Morteza Barzegar
Abstract
Today, in many countries, particularly the developing countries, economic reform, such as privatization, is considered a strategic approach. The more governments grow, the tighter the competitions become in the market, so, it appears that some fields should be privatized in order to create ...
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Today, in many countries, particularly the developing countries, economic reform, such as privatization, is considered a strategic approach. The more governments grow, the tighter the competitions become in the market, so, it appears that some fields should be privatized in order to create competition. By moving towardsprivatization and the changes in competition methods and the presentation of the World Trade, the importance of management accounting is more pronounced. This research is based on the Contingency Theory of Anderson and Lenan (1999) and it investigates the relation of the level of privatization on the performance of privatized companies with emphasis on the use of management accounting tools as anintermediary variable. The data, related to management accounting tools and used by the companies during 6 years, was collected through questionnaires and the data related to privatization and financial performance was collected using the information registered in the statements of 48 accepted companies on Tehran’sStock Market whose dates of acceptance are before 1387 and were continuously active until 1392. This data was analyzed by PLS 2014. The results indicate a positive relation between financial performance and privatization, and management accounting, as an intermediary variable, enhances this relation. Furthermore, the use of management accounting tools has a positive relation with the financial performance and the privatization of companies.
Javad Shekarkhah Shekarkhah; Keivan Ghasedi Dizaji
Abstract
In this study we evaluate the effects of macroeconomic factors on managements financing decision. Inflation rate, exchange rate, economic growth, interest rate and the amount of bank credits are considered as proxies of macroeconomic factors, furthermore the ratio of debt to equity ...
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In this study we evaluate the effects of macroeconomic factors on managements financing decision. Inflation rate, exchange rate, economic growth, interest rate and the amount of bank credits are considered as proxies of macroeconomic factors, furthermore the ratio of debt to equity is appointed as the proxy of managements financing decision. We gather the required data from published information by listed companies in Tehran stock exchange during the period of 1375 to 1390. In order to analyze the data we apply multiple variableregressions based on panel data. Our results show that inflation rate, economic growth rate and interest rate have significant negative relation with managements financing decision. In contrast, our findings show that exchange rate and amount of bank credits have no significant relation with managements financing decision.
Shadi Jandaghyan; Shadi Jandaghyan
Abstract
Financial reports are tools that transfer accounting information to users,particularly investors. When the reporting quality is poor, investors rely on industry and market-level information. This action contributes to greater stock return movement with market and industry return, and Increases ...
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Financial reports are tools that transfer accounting information to users,particularly investors. When the reporting quality is poor, investors rely on industry and market-level information. This action contributes to greater stock return movement with market and industry return, and Increases stock return synchronicity. Factors such as free cash flow agency problem may cause distortion of information quality by managers as a result outsider investors are misled. The purpose of this study is to investigate the effects of free cash flow agency problem on stock return synchronicity and financial reporting quality. In order to test the hypotheses, data of 105 firms listed in Tehran Stock Exchange during the years 1388 to 1392 were used. Findings of research signify that companies with strong free cash flow agency problem have a greater stock return synchronicity. Results also indicate that free cash flow agency problem has a significant and negative impact on the financial reporting quality. Thus investors who invest in the stock exchange and their main attention is focused on free cash flow, must to consider free cash flow agency problem as a factor affecting decisions.
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.
Seyed kazem Ebrahimi; Sadegh Sarbazi Azad
Abstract
Today's, knowledge-based economy represents a great change and shift from financial resources to knowledge. Although the role of physical and financial assets in order to achieve the organization's objectives cannot be denied, but what is important is that today's science, technology, ...
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Today's, knowledge-based economy represents a great change and shift from financial resources to knowledge. Although the role of physical and financial assets in order to achieve the organization's objectives cannot be denied, but what is important is that today's science, technology, good customer relations, information systems, those constitute organization’s Intellectual Capital, are known as key success factors in information era. It’s believed that intellectual capital, including human capital and structural capital, hasimportant and growing role in firm’s performance and effects on its financial achievements. This study examined the interactive effects of intellectual capital and its components on the value of the investment efficiency of listed companies in Tehran Stock Exchange. To do so, the information of 105 companies during 1388 to 1393 was selected from companies listed on the stock exchange. The results of the study indicate a significant and positive relationship between Interactive effects of the coefficient value added andintellectual capital and its components including efficiency of communicational and structural capital and investment efficiency on the value of the company.
Navid Paidarmanesh; Mahdi Salehi; Matina Khorami Kakhki; 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 disclosure quality ...
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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 of the hypothesis, we conclude that there is no relationship between independent audit quality and disclosure quality of financial statement Tehran Stock Exchange companies.
Abstract
In the age that firms deal with various challenges, financial safety and the Factors which end with recession are of great importance. Along with the fact mentioned, the present study considers the investigation of the effect of conditional conservatism and accounting-based earnings attributes on risk ...
Read More
In the age that firms deal with various challenges, financial safety and the Factors which end with recession are of great importance. Along with the fact mentioned, the present study considers the investigation of the effect of conditional conservatism and accounting-based earnings attributes on risk of bankruptcy in Firms Listed at the Tehran Stock Exchange. The Z’altman is used for measuring the risk of bankruptcy and accruals quality, earnings persistence, earnings predictability, and earnings smoothness used for measuring the Accounting-based Earnings Attributes. The results of estimating of research hypotheses using the panel data techniques in Eviews software for 126 firm of Tehran’s Stock Exchange during a period of five years from 2010 To 2014, suggest that not only using the accounting conditional conservatism does not make any important change in decreasing of risk of bankruptcy , but also it is able to increase the financial distress of Iranian firms. Also, The result show the Significant negative relation between the accounting-based earnings attributes (Accruals quality, persistence and predictability ) with risk of bankruptcy of firms. Generally , The results reveal that risk of bankruptcy of firms are mostly influenced by economical condition of the country, the politics Of financing, the size Of the firms, the sort of industry ,and improvement Of accounting-based earnings attributes rather than conditional conservatism approaches .
Abstract
Today, in many countries, particularly the developing countries, economic reform, such as privatization, is considered a strategic approach. The more governments grow, the tighter the competitions become in the market, so, it appears that some fields should be privatized in order to create competition. ...
Read More
Today, in many countries, particularly the developing countries, economic reform, such as privatization, is considered a strategic approach. The more governments grow, the tighter the competitions become in the market, so, it appears that some fields should be privatized in order to create competition. By moving towards privatization and the changes in competition methods and the presentation of the World Trade, the importance of management accounting is more pronounced. This research is based on the Contingency Theory of Anderson and Lenan (1999) and it investigates the relation of the level of privatization on the performance of privatized companies with emphasis on the use of management accounting tools as an intermediary variable. The data, related to management accounting tools and used by the companies during 6 years, was collected through questionnaires and the data related to privatization and financial performance was collected using the information registered in the statements of 48 accepted companies on Tehran’s Stock Market whose dates of acceptance are before 1387 and were continuously active until 1392. This data was analyzed by PLS 2014. The results indicate a positive relation between financial performance and privatization, and management accounting, as an intermediary variable, enhances this relation. Furthermore, the use of management accounting tools has a positive relation with the financial performance and the privatization of companies.
sadegh sarbazi azad
Abstract
Today's knowledge-based economy represents a great change and shift from financial resources to knowledge. Although the role of physical and financial assets in order to achieve the organization's objectives can not be denied, but what is important is that today's science, technology, good customer relations, ...
Read More
Today's knowledge-based economy represents a great change and shift from financial resources to knowledge. Although the role of physical and financial assets in order to achieve the organization's objectives can not be denied, but what is important is that today's science, technology, good customer relations, information systems,... those constitute organization’s Intellectual Capital, are known as key success factors in information era. It’s believed that intellectual capital, including human capital and structural capital, has important and growing role in firm’s performance and affects on it’s financial achievements. This study examined the interactive effects of intellectual capital and its components on the value of the investment efficiency of listed companies in Tehran Stock Exchange. To do so, The information of 105 companies during 1388 to 1393 were selected from companies listed on the stock exchange. The results of the study indicate a significant and positive relationship between Interactive effects of the coefficient value added and intellectual capital and its components including efficiency of communicational and structural capital and investment efficiency on the value of the company.
