University of Isfahan Financial Accounting Research 2322-3405 6 1 2014 05 22 full text full text 0 17009 FA Journal Article 2016 06 14 full text full text

https://far.ui.ac.ir/article_17009_8d7b0d9e9b446e834117be59a3c40645.pdf

University of Isfahan Financial Accounting Research 2322-3405 6 1 2014 05 22 The Survey of Relationship between Corporate Governance and Innate and Discretionary Accruals Quality of Companies Listed in Tehran Stock Exchange The Survey of Relationship between Corporate Governance and Innate and Discretionary Accruals Quality of Companies Listed in Tehran Stock Exchange 1 14 17003 FA Y Hassas Yeganeh Associate Professor of Accounting, Allameh Tabatabaiy, University of Tehran, Iran H Didar Assistant Professor of Accounting, University of urmia, Iran A Eskandari Master of Accounting, Islamic Azad University, Tabriz Branch, Iran Journal Article 2016 06 14 This paper studies the relationship between some corporate governance mechanisms and discretionary and nondiscretionary accrual items’ quality of companies listed in Tehran Stock Exchange during the period of 1382 to 1388. Sample of this study consists of 120 companies. To measure the quality of accruals, Francis Model (2005) is been used. Ownership structure, board of director’s combination, audit size and the existence of internal auditing have been considered as corporate governance mechanisms. The relation of ownership structure and board of director’s combination with accruals quality are investigated by Multiple Regression Model and T-test is used for audit size and the existence of internal auditing. Results indicate that there is a significant and direct relation between ownership structure and board of director’s combination with nondiscretionary accruals quality but this relation with discretionary accruals quality is significant and reverse. On the other hand, there is no significant relation between audit size and internal auditing variables with accruals quality. This paper studies the relationship between some corporate governance mechanisms and discretionary and nondiscretionary accrual items’ quality of companies listed in Tehran Stock Exchange during the period of 1382 to 1388. Sample of this study consists of 120 companies. To measure the quality of accruals, Francis Model (2005) is been used. Ownership structure, board of director’s combination, audit size and the existence of internal auditing have been considered as corporate governance mechanisms. The relation of ownership structure and board of director’s combination with accruals quality are investigated by Multiple Regression Model and T-test is used for audit size and the existence of internal auditing. Results indicate that there is a significant and direct relation between ownership structure and board of director’s combination with nondiscretionary accruals quality but this relation with discretionary accruals quality is significant and reverse. On the other hand, there is no significant relation between audit size and internal auditing variables with accruals quality.

https://far.ui.ac.ir/article_17003_0841385c4c972903fee3f9d905d0c986.pdf

University of Isfahan Financial Accounting Research 2322-3405 6 1 2014 05 22 An Investigation of the Determinants of Working Capital Management in Tehran Stock Exchange (TSE) An Investigation of the Determinants of Working Capital Management in Tehran Stock Exchange (TSE) 15 26 17004 FA A. A Anvari Rostami Professor of Accounting, Tarbiat Modarres University, Tehran, Iran R Sadjadpour Lecturer of Accounting,Lorestan University, Khormabad, Iran M Yaballuei Ph.D. Student in Accounting Azad University, Kermanshah, Iran Journal Article 2016 06 14 The aim of this paper is to investigate the Determinants of Working Capital Management (WCM) in Tehran Stock Exchange. In this research, to measure WCM, as the dependent variable, we use Cash Conversion Cycle (CCC) and Independent variables of research are Debt ratio, ROA, Investment in fixed assets and Cash Flow. For this purpose 600 firms are considered as sample of research and using Multivariate regression model and panel data method have been tested. The result shows that there is a significant negative relationship between WCM and Debt ratio, ROA, Investment in fixed assets and there is a significant positive relationship between WCM and Cash Flow. The aim of this paper is to investigate the Determinants of Working Capital Management (WCM) in Tehran Stock Exchange. In this research, to measure WCM, as the dependent variable, we use Cash Conversion Cycle (CCC) and Independent variables of research are Debt ratio, ROA, Investment in fixed assets and Cash Flow. For this purpose 600 firms are considered as sample of research and using Multivariate regression model and panel data method have been tested. The result shows that there is a significant negative relationship between WCM and Debt ratio, ROA, Investment in fixed assets and there is a significant positive relationship between WCM and Cash Flow.

https://far.ui.ac.ir/article_17004_741f2ce02f74e97c3a605dbb0cc79c8b.pdf

University of Isfahan Financial Accounting Research 2322-3405 6 1 2014 05 22 The Effect of Managerial Overconfidence on Conditional and Unconditional Conservatism The Effect of Managerial Overconfidence on Conditional and Unconditional Conservatism 27 44 17008 FA D Foroghi Associate Professor of Accounting, University of Isfahan, Iran 0000-0002-7164-6728 Z Nokhbeh Fallah Master of Accounting, University of Isfahan, Iran Journal Article 2016 06 14 The purpose of this study is investigating the effect of managerial overconfidence on conditional and unconditional conservatism. To attain the mentioned purpose, two hypotheses were developed and a sample of 77 firms was selected by systematic elimination method from the companies listed in Tehran stock exchange during the years of 2002 to 2011. In order to measure conditional conservatism, khan and Watts (2009) model and to measure unconditional conservatism, measure of Givoly and Hayn (2000) and to measure managerial overconfidence, two measures of research of Ahmed and Duellman (2013) were used. Also, to estimate research hypotheses, weighted least squares and panel methods were used. Results of estimating research models indicated that the effects of managerial overconfidence on conditional and unconditional conservatism are negative and significant. In other words, existence of overconfidence in top managers results in decreasing of financial reporting conservatism. The purpose of this study is investigating the effect of managerial overconfidence on conditional and unconditional conservatism. To attain the mentioned purpose, two hypotheses were developed and a sample of 77 firms was selected by systematic elimination method from the companies listed in Tehran stock exchange during the years of 2002 to 2011. In order to measure conditional conservatism, khan and Watts (2009) model and to measure unconditional conservatism, measure of Givoly and Hayn (2000) and to measure managerial overconfidence, two measures of research of Ahmed and Duellman (2013) were used. Also, to estimate research hypotheses, weighted least squares and panel methods were used. Results of estimating research models indicated that the effects of managerial overconfidence on conditional and unconditional conservatism are negative and significant. In other words, existence of overconfidence in top managers results in decreasing of financial reporting conservatism.

https://far.ui.ac.ir/article_17008_18afd6d0e822c1a08a89de210f04b980.pdf

University of Isfahan Financial Accounting Research 2322-3405 6 1 2014 05 22 Relationship between Earning Growth and Stock Returns by Using Residual Income in Tehran Stock Exchange (TSE) Relationship between Earning Growth and Stock Returns by Using Residual Income in Tehran Stock Exchange (TSE) 45 56 17005 FA B Shamszadeh Assistant Professor of Accounting Bu-Ali Sina University, Hamadan, Iran M Sadeghifar Assistant Professor of Statistics, Bu-Ali Sina University, Hamadan, Iran B Almasi Master of Accounting, Hamadan Branch, Islamic Azad University, Hamadan, Iran Journal Article 2016 06 14 The main objective of this study is to explore the relationship between earnings growth and stock returns using the residual income (RI) model in companies listed on the Tehran Stock Exchange. We use residual income (RI) for decomposing earnings growth into growth in RI and growth in invested capital in order to explain its relationship with current and future stock returns. Data were collected for the period 2004 to 2011 from TSE. We use Pearson correlation coefficient to test our hypotheses. The results show, significant positive relationship between growth in RI and current stock returns and significant negative relationship between growth in invested capital and current stock returns. Also, there is a significant positive relationship between growth in RI and future stock returns, and there is no relationship between growth in invested capital and future returns. The main objective of this study is to explore the relationship between earnings growth and stock returns using the residual income (RI) model in companies listed on the Tehran Stock Exchange. We use residual income (RI) for decomposing earnings growth into growth in RI and growth in invested capital in order to explain its relationship with current and future stock returns. Data were collected for the period 2004 to 2011 from TSE. We use Pearson correlation coefficient to test our hypotheses. The results show, significant positive relationship between growth in RI and current stock returns and significant negative relationship between growth in invested capital and current stock returns. Also, there is a significant positive relationship between growth in RI and future stock returns, and there is no relationship between growth in invested capital and future returns.

https://far.ui.ac.ir/article_17005_41d57b7af75418f758751c73287b99dd.pdf

University of Isfahan Financial Accounting Research 2322-3405 6 1 2014 05 22 The Effect of Personal Incentives Managers on Costs Asymmetric in Tehran Stock Exchange The Effect of Personal Incentives Managers on Costs Asymmetric in Tehran Stock Exchange 57 74 17006 FA A Khani Assistant Professor of Accounting, University of Isfahan, Iran H Amiri Assistant Professor of Economy, University of Isfahan, Iran M. A Shamohammadi Master of Accounting, University of Isfahan, Iran Journal Article 2016 06 14 The fundamental assumption in cost accounting is that expense changes in relation with increase and decrease in level of activity is symmetrical. But recent research shows asymmetric behavior of the costs when demand fluctuations. In this study, costs stickiness by taking consideration traditional factors, namely economic factors affecting sticky costs, personal motives of managers in the effective agency factors of the costs asymmetry, are test. A sample of 100 companies was selected having features proposed in this survey during from 1379 to 1389. The results suggest a significant impact of agency variables on asymmetry of selling, general and administrative (SG&A) costs. Hence the asymmetry of Costs due to the agency problem is positively related with personal motivations and empire building of managers. The fundamental assumption in cost accounting is that expense changes in relation with increase and decrease in level of activity is symmetrical. But recent research shows asymmetric behavior of the costs when demand fluctuations. In this study, costs stickiness by taking consideration traditional factors, namely economic factors affecting sticky costs, personal motives of managers in the effective agency factors of the costs asymmetry, are test. A sample of 100 companies was selected having features proposed in this survey during from 1379 to 1389. The results suggest a significant impact of agency variables on asymmetry of selling, general and administrative (SG&A) costs. Hence the asymmetry of Costs due to the agency problem is positively related with personal motivations and empire building of managers.

https://far.ui.ac.ir/article_17006_6f66a7ee758b810c5584cb6d95061d64.pdf

University of Isfahan Financial Accounting Research 2322-3405 6 1 2014 05 22 Relationships between Firm Specific Factors and Management’s Preferences for an Earnings Threshold Relationships between Firm Specific Factors and Management’s Preferences for an Earnings Threshold 75 88 17002 FA M Moradzadehfard Assistant professor in Accounting, Azad University, karaj, Iran M Ebrahimy Meymand Ph.D. Student in Accounting, University of Shiraz, Shiraz, Iran M Moradi Master of Accounting, University of Tarbiat Modares, Tehran, Iran Journal Article 2016 06 14 Earning management and reaching the earnings threshold have long been in the center of different interested parties’ attention. Previous research has provided mixed evidence on the relative importance of three earnings thresholds which managers seek to achieve. These thresholds include avoiding losses, avoiding earnings declines and avoiding negative earnings surprises. The purpose of this paper is to investigate whether firm specific factors influence management’s preferences for an earnings threshold. For this purpose three Logit models are estimated to determine the relationships between firm-characteristics and management’s perceptions of the relative importance of each threshold. Data from a sample of 104 affiliated firms in Tehran Stock Exchange with from year1385 to 1389 -520 firm-year observations- have been analyzed. The results show that firm specific factors influence management’s preferences toward a specific earnings threshold. Large firms are more prone to avoid losses; firms with high growth prospects are more prone to avoid earnings declines and firms with high turnover are more concerned with avoiding negative earnings surprises and earnings declines. Earning management and reaching the earnings threshold have long been in the center of different interested parties’ attention. Previous research has provided mixed evidence on the relative importance of three earnings thresholds which managers seek to achieve. These thresholds include avoiding losses, avoiding earnings declines and avoiding negative earnings surprises. The purpose of this paper is to investigate whether firm specific factors influence management’s preferences for an earnings threshold. For this purpose three Logit models are estimated to determine the relationships between firm-characteristics and management’s perceptions of the relative importance of each threshold. Data from a sample of 104 affiliated firms in Tehran Stock Exchange with from year1385 to 1389 -520 firm-year observations- have been analyzed. The results show that firm specific factors influence management’s preferences toward a specific earnings threshold. Large firms are more prone to avoid losses; firms with high growth prospects are more prone to avoid earnings declines and firms with high turnover are more concerned with avoiding negative earnings surprises and earnings declines.

https://far.ui.ac.ir/article_17002_0886aab420b408a967b2b7e4a5eef1e6.pdf

University of Isfahan Financial Accounting Research 2322-3405 6 1 2014 05 22 The Impact of Financial Constraints and Agency Costs of Investment Efficiency The Impact of Financial Constraints and Agency Costs of Investment Efficiency 89 106 17007 FA R Baradaran Hassanzadeh Assistant Professor of Accounting, Islamic Azad University, Tabriz Branch, Iran Y Badavar Nahandi Assistant Professor of Accounting, Islamic Azad University, Tabriz Branch, Iran L Negahban Master of Accounting, Science and Research Branch, Islamic Azad University of Tabriz, Iran Journal Article 2016 06 14 his study will discuss the impacts of financial constraints and agency costs on the investment efficiency regarding limited resources and growing importance of investment efficiency. In order to achieve this goal, two hypotheses have been formulated and logistic regression has been used to test hypotheses. Meanwhile in this study regression (ols) has been used to measure investment efficiency and agency costs. This research has been done in 95 listed companies in Tehran Stock Exchange based on data contained in financial reports between 2001 – 2012. In this study, financial constraints has been measured using two models of Kaplan and White and wu. Results showed that financial constraints using White and Wu model does not have any effect on investment efficiency but, financial constraints using Kaplan has significant and positive effect on the investment efficiency. Agency costs have significant and negative effect on investment efficiency. his study will discuss the impacts of financial constraints and agency costs on the investment efficiency regarding limited resources and growing importance of investment efficiency. In order to achieve this goal, two hypotheses have been formulated and logistic regression has been used to test hypotheses. Meanwhile in this study regression (ols) has been used to measure investment efficiency and agency costs. This research has been done in 95 listed companies in Tehran Stock Exchange based on data contained in financial reports between 2001 – 2012. In this study, financial constraints has been measured using two models of Kaplan and White and wu. Results showed that financial constraints using White and Wu model does not have any effect on investment efficiency but, financial constraints using Kaplan has significant and positive effect on the investment efficiency. Agency costs have significant and negative effect on investment efficiency.

https://far.ui.ac.ir/article_17007_7cccd2f85cb38b56684264d1707b8582.pdf