Showing papers in "Iranian Journal of Business and Economics in 2016"

Study of Relationship between Earnings Management and Earnings Quality of Companies Listed on the Tehran Stock Exchange

Abstract: The aim of the study is examining the relationship between earnings management and earnings quality of companies listed on the Tehran Stock Exchange.Accruals on the one hand allow managers to determine the profit so that can reflect the firm's true value and on the other hand these items give authority to managersso that they are able to abused theflexibility of accepted accounting methods and principles and distorted the information content of earnings.Results is based on a survey of 40 companies in the period 1389 to 1393 shows that there is a significant relationship between earnings management and earnings quality companies listed on Tehran Stock Exchange. Therefore, the results indicate that increasing in the discretionary accruals is reduced from the amount of desirable characteristics of benefit. In the meantime, accruals quality will be affected by earnings management more than other properties. Moreover, an increase in the amount of discretionary accruals is associated with a reduction of quality scores of corporate profits.

Manipulate Real Activities and Accounting Performance Thereafter on the Tehran Stock Exchange Companies

Abstract: Introduction Today, information is an important tool in economic decision-making and without doubt, the quality of decisions depends on the accuracy of the information. Financial statements, especially investors in the most important source of external parties access to information is required. In the meantime, profit and loss statements provide useful information about the profitability of the business, has attracted the attention of many investors. The exercise of judgment by management in preparing the financial statements, concerns about reliability earnings has created. If managers through the exercise of its powers in the field of accounting and financial reporting choices incentives to mislead the users of financial statements have, there is a possibility of manipulation or earnings management (Saeedi et al., 1392). The purpose of accounting and financial reporting, demands and meet the needs of their users. The main tool to deliver information to citizens and users outside the organization, the financial statements are important. One of the basic financial statements, profit and loss statements in evaluating management stewardship responsibility or accountability for the resources they have at their disposal, are of utmost importance. For profit and loss of efficiency encompasses resources under the control of the management of the business unit and the performance of the business units during the period reflected the desired. Since the responsibility for the preparation of the financial management unit responsible for trading in and with regard to the direct access of managers to the information and having the right to choose the optional methods of accounting, there is the possibility of profit management (baharmoghadam and Hasani fard, 2010).

The Relationship between Accounting Conservatism and Growth Financed by Long-term Debt Financing Through Companies Listed on the Tehran Stock Exchange

Abstract: The main objective of this study was to investigate the relationship between accounting conservatism with economic growth through long-term debt is financed by. Method of collecting information on the research methods of the library and the company data available on the TSE for the year 13891393 received and studied. In this study, univariate models and regression models were used to test the hypotheses and all testing was done by spss software.The research evidence of a positive relationship between conservatism and the solvency of states. The study also positive relationship between accounting conservatism and growth company funded by debt shows all the classes, but this is not a short-term positive for long-term debt, which is associated with a lower risk for the company.

The Effects of Fluctuations in the Income Structure of Corporate Governance, Board Independence , Growth Opportunities

Abstract: This study is based on analysis of library study and Causalanalytical panel data (panel data) is. In this study, 106 financial firms listed in the Tehran Stock Exchange during the period 1387 to 1392 (636 firm years). To analyze the results of the software Spss 20, Eviews 7 and Minitab 16 has been used. The results in connection with the analyzes carried out in connection with the confirmation of the first hypothesis to the conclusion that the fluctuations in income and corporate governance structure of companies, there is a significant inverse relationship. The following results regarding the second hypothesis of the study show that the independence of the board and governance structure of the company, there is a significant inverse relationship Finally, according to the analysis made in connection with approved third hypothesis to the conclusion that the company's growth opportunities and corporate governance structure, there was a significant relationship.

The Relationship between Institutional Ownership and Size and Tobin's Q Ratio of Listed Companies in Tehran Stock Exchange

Abstract: The attention of many investors in the stock market make this kind of capital market analysts and experts focused on the economy and stock. In the meantime, investors considering entering their capital in this sector are more sensitive to the issue. Because the lack of attention to issues related to these areas suffer irreparable losses. The most important factors when choosing stocks that investors consider the value and risks of the Company are based on their choice of investment opportunities. Because of the risk and value companies are affected by many factors and these factors indirectly influence on the decisions of investors.Therefore, knowing these essential factors. One of the most important of these factors is institutional ownership. The main objective of this study was to investigate the relationship between institutional ownership and corporate value and risk.In order to achieve the objectives of the study were four hypotheses. In order to test this hypothesis on a sample of listed companies in Tehran Stock Exchange during the years 2008 to 2013 have been selected. In this study now standard deviation of returns for risk measurement and metrics to measure the value of the Company's rate of return on assets, return on equity and Tobin's Q ratio is used. This study also included control variables trading volume, the total number of shares and number of shares traded. For hypothesis testing, multivariate regression was used to panel data.Data analysis and hypothesis testing results of the study show that between institutional ownership and Tobin's Q ratio in Tehran Stock Exchange there is a significant relationship. The results also show that between size and Tobin's Q ratio of listed companies in Tehran Stock Exchange is a significant relationship.

Review the Relationship between Stock Prices and Ownership Concentration the Information Asymmetry of Listed Companies in Tehran Stock Exchange

Abstract: In the meantime people according to criteria as well as information that buy and sell stocks. In the meantime people according to criteria as well as information that buy and sell stocks. If this information for buyers and sellers of information asymmetry occurs not at a level that eventually led to the valuation of wrong companies. One of the ways that can affect the asymmetry of information, the disclosure voluntary Internet-based information that is very necessary recognition. The main objective of this study was to investigate the relationship between disclosure and information asymmetry is online. In order to achieve the objectives of the study were tow hypotheses. In order to test this hypothesis on a sample of listed companies in Tehran Stock Exchange during the years 2009 to 2013 have been selected. In this study benchmarks to measure information asymmetry bid and sell used. stock price and the concentration of ownership, the variables are treated as independent. In the present study variables and financial leverage is also considered as control variables. For hypothesis testing, multivariate regression was used to panel data. Data analysis and hypothesis testing results of the study show that between concentration of ownership on the one hand and information asymmetry on the other hand there is a significant relationship. In addition, these results suggest that the volatility of stock prices and stock prices there is no significant relationship with asymmetric information.

The Impact of Corporate Governance on the Relationship between Free Cash Flow and Investment Inefficient

Abstract: The authors of the agency theory agency theory have tried to introduce the basic pattern. Representation theory begins with the assumption that people act in their own interests and implies that under normal circumstances, objectives, benefits and risks of the two parties (owner and agent) is not the same. One solution to the problem of representation, establishing proper governance practices firm. In this study, we tried to work on the relationship between corporate governance system of free cash flow and additional investments in the companies listed in Tehran Stock Exchange to be examined. For this purpose, the data of 127 companies listed on the stock exchange during the period 1389 to 1393, and multivariate regression models were used in combination. Study results showed that the mechanisms of corporate governance can be effective monitoring in the context of the relationship between free cash flow and investments are additional.

The Relationship between Operating Cash Flow and Income Smoothing in Healthy Companies Compared with Companies Going Bankrupt and the Bankruptcy Doubt that the Model of Altman

Abstract: Investors, credit providers and financial analysts interested in more information about smoothing in the investee company to have, especially if this information is based on decisions affecting them. Research findings indicate that many investors in making investments, profit smoothly and prefer low volatility. In this context, managers are trying to profit and growth rates show it smoothly. This study examines the effect of operating cash flow in public listed companies (Salem, bankrupt and uncertainty in the region, according to Altman bankruptcy model) on the Stock Exchange on earnings smoothing. Lintner model used to smooth income. A careful study of literature, three hypotheses and sample consists of 164 companies for the period 13891393 five-year and using multiple linear regression analysis is located.The results indicate that a significant positive relationship between income and income smoothing exists. But between operating cash flow and income smoothing significant positive relationship was not found. As well as between income compared with the previous year and operating cash flow smoothing and there is a significant positive relationship.

Investigating the Impact of Profit Sharing Policies on Company Growth Opportunities

Abstract: The goal of this research is to investigate the impact of profit sharing policies on company growth opportunities. Therefore, a hypothesis is provided for realizing this claim. Statistical population of this research is all industrial groups in Tehran Stock Exchange which have been active in 2013 in Stock Exchange. This research is applied in terms of the end of implementation, and causal-descriptive in terms of the way of implementation which is executed based on actual information of stock market and financial statement of accepted companies in Tehran Stock Exchange. In this research, by using required information of financial statements, Rahavardnovin software and stock exchange organization web site, set of required data for testing hypothesis is collected. For testing the research hypothesis, data from 113 companies during 2008–2013 is analyzed using regression models in the form of combined models, and the results show that profit sharing policies have significant and positive impact on company growth

Comparing the Ranking of Companies Listed on Tehran Stock Exchange Based on the Ratio of ROA and ROE of Capital and Economic Value

Abstract: In this study a comparison between two methods of ranking based on profitability ratios (ROA and ROE ratios of capital), which is a traditional way of ranking based on economic value added method more modern action has been taken. This study is based on data from 37 firms listed in the Tehran Stock Exchange during the five years (1388 to 1392) has been implemented and the correlation between the results of the comparative study of these two great negative ratings. Experimental test results indicate that the correlation between these two groups, there is a ranking to come. that is significantly superior in terms of company economic added value possessing higher ranking of ratios are also regarding profitability. so high that companies have regarding profitability ratios for high economic value added companies have created.

The Relationship between Voluntary Disclosure in Internet-based and Information Asymmetry of Companies Listed on the Tehran Stock Exchange

Abstract: Capital market as one of the most important target markets to attract the savings of individuals has long attracted the attention of various groups in the economy and stock investment. So a considerable volume of buying and selling shares in the market, indicating the importance of this type of investment is for people. In the meantime people according to criteria as well as information that buys and sell stocks.In the meantime people according to criteria as well as information that buy and sell stocks.If this information for buyers and sellers of information asymmetry occurs not at a level that eventually led to the valuation of wrong companies.One of the ways that can affect the asymmetry of information, the disclosure voluntary Internet-based information that is very necessary recognition. The main objective of this study was to investigate the relationship between disclosure and information asymmetry is online. In order to achieve the objectives of the study were three hypotheses. In order to test this hypothesis on a sample of listed companies in Tehran Stock Exchange during the years 2009 to 2013 have been selected. In this study benchmarks to measure information asymmetry bid and sell used. Internet information disclosure variables, volatility of stock price, turnover ratio,the variables are treated as independent. In the present study variables and financial leverage is also considered as control variables. For hypothesis testing, multivariate regression was used to panel data. Data analysis and hypothesis testing results of the study show that between voluntary disclosure (Internet-based) and information asymmetry there is a significant relationship. Also, the turnover ratio and information asymmetry on the other hand there is a significant relationship. *Corresponding Author: Abbas Taleb Bidokhti E-mail r: Telephone Number r: Fax. Number r:

Investigating Internal Control Systems of Healthcare-Educational Hospitals in Tehran from the Viewpoint of Operations-Error Control-Operational Controls and Preserving Physical Information after Implementing Modern Optimal Financial System

Abstract: Managers are always trying to establish the best internal control system in their organization since they are well aware of the significance of an effective internal control system in fulfilling their main responsibilities and minimizing the unexpected events. Internal control is not a phenomenon; it is a combination of operations and activities is based on output. The presence of internal controls would increase the efficiency and decrease the risk of losing properties and achieving rational certainty of the validity of invoices and observing rules and regulations. The main purpose of the current study was to investigate the internal control system of healthcareeducational hospitals in Tehran from “operations and reports” viewpoint after implementing an optimal modern financial system. The statistical population included all the staff members of the healthcare-educational hospitals in Tehran. Through Cochran’s formula, the sample size was estimated. After several examinations and studying the information in online databases, 40 healthcare-educational hospitals in Tehran were chosen to be included in the sample. It is worth mentioning that in order to calculate the sample size, Cochran’s formula was used at %5 level of error. 115 staff members were included in the sample. The results of the onesample t-test and Binomial test revealed that the internal control system of healthcare-educational hospitals in Tehran had an optimal internal control system from “operationserrors controloperational controlspreserving physical information” viewpoint after implementing modern financial

The Effect of Inflation on the Profitability of Openness and Member Banks Tehran Stock Exchange

Abstract: Tehran Stock Exchange member banks, as one of the most important elements of the monetary market, a very important and significant role to play in the economy. The factors affecting the profitability of banks, stock certainly could be economic development. Given that the external factors affecting the performance of the banks to the economic and political conditions prevailing in the country depends on the other hand this is not under the control of the management agents and depends on the country's political and economic situation, therefore, in the present study, an attempt has been the effect of openness on the economy and inflation, the profitability of banks accepted in Tehran stock exchange, be investigated. For this purpose, the data exchange member banks and regression was used during 1383 to 1392. The results showed that inflation and the size of the bank has an opposite effect on the banks' performance criteria and economic openness does not affect its performance criteria.

The Relationship between Free Cash Flow and Over Investment in Non-bankrupt Firms Listed in the Tehran Stock Exchange

Abstract: The aim of this study was to investigate the relationship between free cash flow and over investments in non-bankrupt firms listed in the Tehran Stock Exchange. To test the hypothesis, a sample of non-bankrupt companies listed in Tehran during the years 1389 to 1393 securities of 129 companies (645 years the company) were selected. In order to analyze the data, linear regression models using ordinary least squares (OLS) is used in analytical software EViews 8. The findings suggest the hypothesis, between free cash flow and additional investment companies so that there are positive and significant association with increased free cash flow of additional investment company added.