Mohsen Dastgir; Seyed Mahdi ParchiniParchin; Keivan Sheikhi
Volume 8, Issue 32 , January 2011, Pages 1-22
Abstract
The aim of this research is to investigate the effect of the earnings quality on improving the stock liquidity of listed companies in TSE. In this study, the earnings quality based on earnings stability, and two transactional criteria (the trading days and the ratio trading volume) and two informational ...
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The aim of this research is to investigate the effect of the earnings quality on improving the stock liquidity of listed companies in TSE. In this study, the earnings quality based on earnings stability, and two transactional criteria (the trading days and the ratio trading volume) and two informational criteria (the ratio depth and ratio spread) used to measure of the stock liquidity. To conduct this research, 94 listed companies in TSE during 2002-2011 via panel regression models (fixed effects) were investigated.
Findings indicate that there are not significant relationships between the earnings quality and different criteria of the stock liquidity.
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.
Rafik Baghoomian; Ali Rahimi Baghi
Volume 8, Issue 32 , January 2011, Pages 49-72
Abstract
The economic development necessitate that accounting system provides accurate, on-time, and reliable information to all parties involved in the planning, implementation and controlling of development projects. So in developing countries such as Iran, accounting education and its development is part of ...
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The economic development necessitate that accounting system provides accurate, on-time, and reliable information to all parties involved in the planning, implementation and controlling of development projects. So in developing countries such as Iran, accounting education and its development is part of the infrastructure required for economic development.
Past studies shows that Iranian accounting education system suffers from some fundamental deficiencies, and does not identify and educate true talents to create essential expertise for different sectors as expected. To remove such barriers, identification of development barriers will be the first step to be taken.
This research, tries to recognize these barriers, and to determine how much important is each of them. At the end, some recommendations have been presented to remove those barriers based on the results. The results show that poor English language ability and IT skills is the most important factor which can be considered as accounting education development barrier in Iran.
Mehdi Moradzadeh Fard; Mina Aboohamzeh
Volume 8, Issue 32 , January 2011, Pages 73-102
Abstract
Regarding the critical role of liquidity in asset price discovery, sharing of financial risk, increasing of expected return and transaction costs reduction, it is important to know about the effective factors. This study examines the effects of the quality of corporate disclosure on stock ...
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Regarding the critical role of liquidity in asset price discovery, sharing of financial risk, increasing of expected return and transaction costs reduction, it is important to know about the effective factors. This study examines the effects of the quality of corporate disclosure on stock liquidity. Because increasing disclosure quality reduces information asymmetry and reducing information asymmetry increases market liquidity, so the main hypothesis of this study is that disclosure quality has effect on stock liquidity. In this study, for separating various details impacts of disclosure quality, we used timeliness and reliability and to determine stock liquidity, we used 15 different trading and information liquidity measures. 112 Tehran Security Exchange listed companies, from 1384 to 1388 are chosen and research hypothesis was tested by linear multivariable regression in pre and post-test. The results indicate that disclosure quality has positive effect on stock liquidity. Also, they show positive effect of reliability on stock liquidity.
Mehdi Sadidi; Sajad Ebrahimidardeh
Volume 8, Issue 32 , January 2011, Pages 103-119
Abstract
Managers are trying to decrease the environmental impact of uncertainty in the reported digit of accounting earnings using their authorities and the flexibility from the accounting standards. This paper aims to examine the relationship between environmental uncertainty and accruals. In doing ...
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Managers are trying to decrease the environmental impact of uncertainty in the reported digit of accounting earnings using their authorities and the flexibility from the accounting standards. This paper aims to examine the relationship between environmental uncertainty and accruals. In doing so, the research methodology was conducted on the basis of using multiple regression and correlation analysis.
The research hypotheses were analyzed through using the data related to 159 companies from Tehran Stock Exchange during the period 1379-1387. The research findings show that there is a significant relationship between environmental uncertainty and accruals and in the uncertain conditions, the size of discretionary accruals are more than the size of non-discretionary accruals. But under these conditions, it cannot be claimed that the variation of non-discretionary accruals are more than discretionary accruals.
Saied Sehhat; Faraz Mosaferi Rad; Majid Shariat Panahi
Volume 8, Issue 32 , January 2011, Pages 121-140
Abstract
There are several criticisms on traditional performance appraisal criterions because of not considering "Cost of Capital" and using traditional accounting methods and roles. Alternatively, economic value added and other modem performance appraisal criterions imply cost of capital to ...
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There are several criticisms on traditional performance appraisal criterions because of not considering "Cost of Capital" and using traditional accounting methods and roles. Alternatively, economic value added and other modem performance appraisal criterions imply cost of capital to provide a better estimation of added values.
The relationship between these traditional criterions such as "Return on Investments" and "Return on Equity" with "Economic Value Added" as a modern criterion has been evaluated throughout this research. In addition, it has been discussed how traditional measurements can adapt with economic value added and how their developments can augment economic value added.
As a result of the few numbers of Iranian insurance companies we have exploited society and assessed eighteen active insurance companies of Iran during 2006-2009. Also we used "Rate of Return on Capital" instead of economic value added. Economic value added is based on the excess amount of money that a company earns on the capital employed. Therefore, comparing it with relative ratios is not reliable.
Adjustments of economic value added have been applied based on standard adjustment of economic value added and Iranian insurance companies accounting principles.
The research finds that there is a significant relationship between return on investment and economic valued added. Also there is a significant relationship between return on equity and return on economic value added. In addition the relationship between ROE-RROC is more significant than ROI-RROC.
Hamzeh Didar; Gholam Reza Mansourfar; Hiva Khojaste
Volume 8, Issue 32 , January 2011, Pages 141-168
Abstract
This study attempts to find a proper answer to the question of why some firms disclose less than other firms do; although, the disclosure information is important for users of information? Alternatively, why different companies, disclose in different levels of information? ...
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This study attempts to find a proper answer to the question of why some firms disclose less than other firms do; although, the disclosure information is important for users of information? Alternatively, why different companies, disclose in different levels of information? For this end, using the panel data analysis the impact of firm's characteristics (size, tangibility, leverage, profitability and growth in profitability) are investigated on different disclosure levels for 128 listed companies in Tehran Stock Exchange during 2003- 2009 periods. Our findings imply that, the tangibility, leverage, and profitability affect the disclosure level; however, the size and growth opportunity have an insignificant effect on disclosure. This might be due to the difference in nature of the mandatory and voluntary disclosure. All companies regardless to their situation in the market are forced to disclose their information. Therefore, the accomplished analyses through mandatory and voluntary disclosure level have been also analyzed and compared. The results show that firm's characteristics affect the voluntary section of total disclosure only.
