University of IsfahanFinancial Accounting Research2322-34058320160922The Effect of Monetary Policy on the Relationship between Accounting Conservatism and Trade Credit in Listed Companies of Tehran Stock ExchangeThe Effect of Monetary Policy on the Relationship between Accounting Conservatism and Trade Credit in Listed Companies of Tehran Stock Exchange1182131810.22108/far.2016.21318FAYahyaKamyabiبAssistant Professor of Accounting, University of Mazandaran, Babolsar, IranRezaGorjian MehlabaniMaster of Accounting, University of Mazandaran, Babolsar, IranJournal Article20160617Monetary policy is part of the economic policies of the country that, through its national monetary authorities working on a framework to coordinate, with other economic policies, the money supply is controlled so that, in accordance with the objectives of the present study the effect of monetary policy on the relationship between accounting conservatism and commercial credit during the years 1387 to 1393 is concerned. For this purpose, a sample of 70 companies listed on the Tehran Stock Exchange and variable monetary policy for the time series data is used. In this study, using panel data regression in the software Eviews 9 was used. The results of data analysis and hypothesis testing shows that the relationship between accounting conservatism and there is a significant trade credit. In addition, the findings suggest that monetary policy will weaken the impact of accounting conservatism on trade credit.
Monetary policy is part of the economic policies of the country that, through its national monetary authorities working on a framework to coordinate, with other economic policies, the money supply is controlled so that, in accordance with the objectives of the present study the effect of monetary policy on the relationship between accounting conservatism and commercial credit during the years 1387 to 1393 is concerned. For this purpose, a sample of 70 companies listed on the Tehran Stock Exchange and variable monetary policy for the time series data is used. In this study, using panel data regression in the software Eviews 9 was used. The results of data analysis and hypothesis testing shows that the relationship between accounting conservatism and there is a significant trade credit. In addition, the findings suggest that monetary policy will weaken the impact of accounting conservatism on trade credit.
https://far.ui.ac.ir/article_21318_db0aaf3a4947f785ae39f5dfc24f6ca5.pdfUniversity of IsfahanFinancial Accounting Research2322-34058320160922Impact of Corporate Governance Measures on Stock Price Crashes of Listed Companies in Tehran Stock ExchangeImpact of Corporate Governance Measures on Stock Price Crashes of Listed Companies in Tehran Stock Exchange19422131910.22108/far.2016.21319FAMohamad RamazanAhmadiAssistant Professor of Accounting, Shahid Chamran, University of Ahvaz, IranSaberDorsehStudent of Master Accounting, Shahid Chamran, University of Ahvaz, IranJournal Article20150715The aim of this study is to investigate the effect of corporate governance measures on stock price crashes of listed companies in Tehran Stock Exchange. The four mechanisms of corporate governance in our study are: ownership structure, accounting transparency, board structure and processes, and CEO duality. In this paper this purpose nine hypotheses are developed and data on the 99 companies listed in Tehran Stock Exchange for the period of 2005 to 2014 are analyzed. A regression model using panel data with fixed effects approach, incorporated to test hypotheses. The findings indicate that the concentration of ownership measure of corporate governance has significant positive impact and institutional ownership, management ownership, board independence and duality of CEO has a significant negative impact stock price crashes. Also, the results show that the CEO duality and accounting transparency has no significant influence on stock price crashes. In additional analysis we find that these effects are asymmetric, and they are stronger in less competitive with higher uncertainty industries (where governance as a monitoring mechanism is more important). <br /> <br /> The aim of this study is to investigate the effect of corporate governance measures on stock price crashes of listed companies in Tehran Stock Exchange. The four mechanisms of corporate governance in our study are: ownership structure, accounting transparency, board structure and processes, and CEO duality. In this paper this purpose nine hypotheses are developed and data on the 99 companies listed in Tehran Stock Exchange for the period of 2005 to 2014 are analyzed. A regression model using panel data with fixed effects approach, incorporated to test hypotheses. The findings indicate that the concentration of ownership measure of corporate governance has significant positive impact and institutional ownership, management ownership, board independence and duality of CEO has a significant negative impact stock price crashes. Also, the results show that the CEO duality and accounting transparency has no significant influence on stock price crashes. In additional analysis we find that these effects are asymmetric, and they are stronger in less competitive with higher uncertainty industries (where governance as a monitoring mechanism is more important). <br /> <br /> https://far.ui.ac.ir/article_21319_1d2d30a670aac1b0df4522fc17c08efc.pdfUniversity of IsfahanFinancial Accounting Research2322-34058320160922Determination of Replacement or Supplemental Relationship to Explain
Accruals Anomalies and Disclosure Quality in Tehran Stock ExchangeDetermination of Replacement or Supplemental Relationship to Explain
Accruals Anomalies and Disclosure Quality in Tehran Stock Exchange43582132010.22108/far.2016.21320FAHamidaAfshariPhD management student, IMPS, Tehran, IranZebaGhojavandMSc of Financial Management, faculty member, Folad shahr, Esfahan, IranAmirRasaiianMSc of Accounting, Mazandaran University, Mazandaran, IranJournal Article20160114In this study, the relationship between accruals quality, disclosure and abnormal stock returns is evaluated. The aim of this study is the assessment of replacement or supplemental relationship between accruals quality and disclosure to predict changes in abnormal stock returns. Existing theories and studies on the relationship between accruals quality and disclosure has shown different effects on abnormal stock returns. In this study, given the negative correlation between accruals quality and disclosure to predict unusual changes in stock returns is tested. The research hypothesis is tested by using financial data of 102 companies listed in Tehran Stock Exchange during the period 2006 - 2014 by utilizing a model of Fama and French and multi - regression analysis. Based on the results, the quality of accrual and disclosure quality are the same and verifying each other and this confirms the replacement relationship among them. <br /> <br /> In this study, the relationship between accruals quality, disclosure and abnormal stock returns is evaluated. The aim of this study is the assessment of replacement or supplemental relationship between accruals quality and disclosure to predict changes in abnormal stock returns. Existing theories and studies on the relationship between accruals quality and disclosure has shown different effects on abnormal stock returns. In this study, given the negative correlation between accruals quality and disclosure to predict unusual changes in stock returns is tested. The research hypothesis is tested by using financial data of 102 companies listed in Tehran Stock Exchange during the period 2006 - 2014 by utilizing a model of Fama and French and multi - regression analysis. Based on the results, the quality of accrual and disclosure quality are the same and verifying each other and this confirms the replacement relationship among them. <br /> <br /> https://far.ui.ac.ir/article_21320_efdd34d868a1d29650411718cd1dbd86.pdfUniversity of IsfahanFinancial Accounting Research2322-34058320160922The effects of growth opportunities on the relation between Free Cash Flow and Stock Return Synchronicity of firms listed in Tehran Stock ExchangeThe effects of growth opportunities on the relation between Free Cash Flow and Stock Return Synchronicity of firms listed in Tehran Stock Exchange59762132110.22108/far.2016.21321FAAbdolrezaTalanehAssociate Professor of Accounting, Department of Accounting, Firoozkooh Branch, Islamic Azad University, Firoozkooh, IranMahdiSajadiSenior Master of Accounting, Department of Accounting, Firoozkooh Branch, Islamic Azad University, Firoozkooh, IranJournal Article20160622This paper investigates the effects of growth opportunities on the relation between Free Cash Flow and Stock Return Synchronicity of firms listed in Tehran Stock Exchange. The aim is to test the hypothesis that firms with low growth opportunities and high free cash flow show higher stock returns synchronicity. To test the hypothesis, 54 firms during 2006-2014 were investigated using pooled panel regression analysis. Positive coefficient for interactive variable (FCF time's growth opportunities) confirms our hypothesis and showing a positive relation between free cash flow problem with stock return synchronicity.
This paper investigates the effects of growth opportunities on the relation between Free Cash Flow and Stock Return Synchronicity of firms listed in Tehran Stock Exchange. The aim is to test the hypothesis that firms with low growth opportunities and high free cash flow show higher stock returns synchronicity. To test the hypothesis, 54 firms during 2006-2014 were investigated using pooled panel regression analysis. Positive coefficient for interactive variable (FCF time's growth opportunities) confirms our hypothesis and showing a positive relation between free cash flow problem with stock return synchronicity.
https://far.ui.ac.ir/article_21321_59d06d37172894664acce070eec2713b.pdfUniversity of IsfahanFinancial Accounting Research2322-34058320161220Investigation of the Costs Sticky Behavior and its impact on Audit QualityInvestigation of the Costs Sticky Behavior and its impact on Audit Quality771002142210.22108/far.2016.21422FAMNikbakhtAssociate Professor of Accounting, University of Tehran, Tehran, IranMDeldarPh.D Student in Accounting, University of Tehran, Tehran, IranJournal Article20150503Analytical methods is defined as ratios analysis and major trends, Including a comparison of expected values with actual items contained in the audited financial statements and about changes that may have occurred reasonable values. Auditors when perform analytical methods, assumed that costs change according to sales fluctuations. Therefore, more accurate understanding of how changes in the cost related to sales fluctuations can help auditors to improve the implementation of analytical methods and increase the audit quality. Independent audit can effectively monitor and limit managers’s opportunistic behavior and ultimately reduce costs Stickiness.The aim of this study is to evaluate the costs asymmetric behavior (Costs Stickiness) at three levels of cost of goods sold, expenses of administrative, general and sales and other operating expenses and to analyze its impact on audit quality during the years 2004 to 2013 of companies listed on the Tehran Stock Exchange. To test Research hypotheses, Logistic regression analysis have been used. The results of 114 companies listed on Tehran Stock Exchange show that there are a significant negative relationship, between the sticky behavior of cost of goods sold and the audit quality. Also, results indicated that there are significant negative relationships between sticky behavior of administrative costs, selas, general and audit quality. Our results showed that between sticky behavior of other operating expenses with audit quality exist a significant negative relationship. In fact, our results showed that by increasing Costs Stickiness at three levels of cost of goods sold, expenses of administrative, general and sales and other operating expenses, reduced firms audit quality.Analytical methods is defined as ratios analysis and major trends, Including a comparison of expected values with actual items contained in the audited financial statements and about changes that may have occurred reasonable values. Auditors when perform analytical methods, assumed that costs change according to sales fluctuations. Therefore, more accurate understanding of how changes in the cost related to sales fluctuations can help auditors to improve the implementation of analytical methods and increase the audit quality. Independent audit can effectively monitor and limit managers’s opportunistic behavior and ultimately reduce costs Stickiness.The aim of this study is to evaluate the costs asymmetric behavior (Costs Stickiness) at three levels of cost of goods sold, expenses of administrative, general and sales and other operating expenses and to analyze its impact on audit quality during the years 2004 to 2013 of companies listed on the Tehran Stock Exchange. To test Research hypotheses, Logistic regression analysis have been used. The results of 114 companies listed on Tehran Stock Exchange show that there are a significant negative relationship, between the sticky behavior of cost of goods sold and the audit quality. Also, results indicated that there are significant negative relationships between sticky behavior of administrative costs, selas, general and audit quality. Our results showed that between sticky behavior of other operating expenses with audit quality exist a significant negative relationship. In fact, our results showed that by increasing Costs Stickiness at three levels of cost of goods sold, expenses of administrative, general and sales and other operating expenses, reduced firms audit quality.https://far.ui.ac.ir/article_21422_ddf794d8eb7fd8b1c882e1a064515d93.pdfUniversity of IsfahanFinancial Accounting Research2322-34058320161121The Function of Company Characteristics and Corporate Governance on Organization's LegitimacyThe Function of Company Characteristics and Corporate Governance on Organization's Legitimacy1011202142310.22108/far.2016.21423FAJamaLBarzegari KhanaghaAssistant Professor of Accounting, Yazd University, Yazd, IranGhassmJafari TarajiMaster of Accounting, Yazd University, Yazd, IranJournal Article20151227The main objective of this study is investigation into the relationship between the company characteristics and the level of social and environmental disclosure of listed companies in Tehran Stock Exchange. Target sample consists of 68 of the listed companies in Tehran Stock Exchange during 1388 to 1393. Collected data were analysed using multivariate regression model through panel data method. The results show a significant positive relationship between firm size, firm performance and the presence of independent directors with company's social and environmental disclosure. Moreover, there is a significant negative relationship between institutional ownership and the level of social and environmental disclosure. The results also show there is no significant relationship between financial leverage, ownership structure, the auditor size and the board size with the level of social and environmental disclosure. Finally, the results show there are significant differences between the level of social and environmental disclosure in different industries. <br /><strong> </strong>The main objective of this study is investigation into the relationship between the company characteristics and the level of social and environmental disclosure of listed companies in Tehran Stock Exchange. Target sample consists of 68 of the listed companies in Tehran Stock Exchange during 1388 to 1393. Collected data were analysed using multivariate regression model through panel data method. The results show a significant positive relationship between firm size, firm performance and the presence of independent directors with company's social and environmental disclosure. Moreover, there is a significant negative relationship between institutional ownership and the level of social and environmental disclosure. The results also show there is no significant relationship between financial leverage, ownership structure, the auditor size and the board size with the level of social and environmental disclosure. Finally, the results show there are significant differences between the level of social and environmental disclosure in different industries. <br /><strong> </strong>https://far.ui.ac.ir/article_21423_53b47222726cd8c42be931ffb15f5f85.pdf