دانشگاه شهید باهنر کرمانمجله دانش حسابداری2008-891451720140906Relationship between Earnings Management and Information Asymmetry in the Condition of Environmental Uncertaintyرابطة بین مدیریت سود و عدم تقارن اطلاعاتی در شرایط نااطمینانی محیطی72772210.22103/jak.2014.722FAعلیثقفیاستاد حسابداری، دانشگاه علامه طباطباییمحسنمرادی جزدانشجوی دکتری حسابداری، دانشگاه تهرانحسینعلیسهرابیدانشجوی دکتری حسابداری، دانشگاه علامه طباطباییJournal Article20140328This study investigates the relationship between earnings management and information asymmetry under the condition of environmental uncertainty. In this study, to quantify earnings management, the models based on discretionary accruals (from Dechow et al, 2002 and Kothari et al, 2005) were used. Standard deviation of the stock price and bid ask spread models were also used for information asymmetry. Three hypotheses were formulated and tested. The data of 101 firms (505 firm/years) from the Tehran Stock Exchange in the period of 1387 to 1391 was collected and tested, using multi-variable regression panel model.
The empirical findings indicate that all the three hypotheses are confirmed. That is, earnings management and environmental uncertainty variables have significant relationships with information asymmetry, and the both lead to increasing information asymmetry. In addition, findings show that environmental uncertainty results in weakening the relationship between earnings management and information asymmetry.
https://jak.uk.ac.ir/article_722_c91b6ec159e03b4e8d1c887a72f622cf.pdfدانشگاه شهید باهنر کرمانمجله دانش حسابداری2008-891451720140906Impact of Accrual-based Earnings Management on Investment Efficiency of the Companies Listed in Tehran Stock Exchangeتأثیر مدیریت سود مبتنی بر اقلام تعهدی بر کارآیی سرمایهگذاری شرکتهای پذیرفته شده در بورس اوراق بهادار تهران294872310.22103/jak.2014.723FAمحمدنمازیاستاد حسابداری، دانشگاه شیرازرضاغلامیدانشجوی دکتری حسابداری، دانشگاه شیرازJournal Article20140113This study investigates whether and how firm investment efficiency is influenced by the accrual-based earnings management. The major purpose of this paper is investigating and analyzing the relationship between proxy of accrual-based earnings management and firm’s excess investments. Prior researches suggest that earnings management leads to increase in excess investments of firms (over-investments or under-investments). In this study, the data from 63 listed companies in the Tehran Stock Exchange in the period of 1378-1388 (1999-2009) was collected.
The results indicated that there is a significant relationship between discretionary accruals (as proxy of accrual-based earnings management) and excess investment. This suggests that firm’s investment behavior is influenced by accrual-based earnings management. The results also indicate that there is a significant relationship between discretionary accruals (as independent variable) and firm’s excess investment in the period afterwardshttps://jak.uk.ac.ir/article_723_8a914782e89c649f7ea4f3f834bd0c69.pdfدانشگاه شهید باهنر کرمانمجله دانش حسابداری2008-891451720140906Relations among Earnings Quality, Information Asymmetry and Cost of Equityارتباط میان کیفیت سود، عدم تقارن اطلاعاتی و هزینه حقوق صاحبان سهام497572410.22103/jak.2014.724FAقاسمبولواستادیار حسابداری، دانشگاه علامه طباطباییمسعودحسنی القارمربی گروه حسابداری دانشگاه بزرگمهر قایناتJournal Article20131223Investors and creditors use income and its components to evaluate cash flows, investments and granted loans in different ways and for different purposes. This study uses panel data analysis to examine the relations among earnings quality, information asymmetry and costs of equity holders. The study sample consists of 72 companies listed in the Tehran Stock Exchange in the period of 1387 to 1391. The independent variables that affect cost of equity risk management and information asymmetry, take market risk, firm size, the ratio of book value to market value, the stock price and trading volume.
Also, earnings quality for firm/year data have been measured, using accounting data in a 5 year period and rolling linear regression. Hypothesis test results indicated a significant positive relationship between information asymmetry and cost of equity, and a significant negative relationship between information asymmetry and earnings quality. The results also showed a non-significant relationship between earnings quality and the cost of equity.
https://jak.uk.ac.ir/article_724_f905b81c535cb0591ad9bc6842ca26c9.pdfدانشگاه شهید باهنر کرمانمجله دانش حسابداری2008-891451720140906Unstructured Information Environment, Decision Making, Cognitive Styles, and Human Information Processing Capacityمحیط اطلاعاتی بدون ساختار، سبکهای شناختی سرمایه گذاران، و ظرفیت پردازش اطلاعات انسانی779572510.22103/jak.2014.725FAعلیبیاتدانش آموخته دکتری حسابداری، دانشگاه آزاد اسلامی - واحد علوم و تحقیقات تهرانقدرتاللهطالبنیااستادیار حسابداری، دانشگاه آزاد اسلامی واحد علوم و تحقیقات تهرانزهراپورزمانیاستادیار حسابداری، دانشگاه آزاد اسلامی واحد تهران مرکزیJournal Article20120621Most researches show that human power in processing information is limited. Also, information structure may influence this process highly. In this study, to evaluate different decision making methods, a cognitive and behavioral model is used. The fields of this research in the area of territory subject to the theory of information overload and processing Brunswick Leans Model is in the behavioral accounting discipline. This research has a quasi-experimental method. In this study, the experimental group of 176 respondents was classified in four dominant styles of directive, analytical, conceptual, and behavioral sense. Also, the study takes a classification of investors with respect to brain dominant style, cognitive complexity, and the tolerance level under uncertainty situation. The evidence revealed that a left-brain dominant style, on average, spends more time to process information. Also, the analytical decision-making style spends more time than the other styles to process information. The evidence, in addition, showed that the left-brain dominant style, on average, takes more information items to process to make decision. Also, the behavioral decision-making style needs the lowest information items to make decisionhttps://jak.uk.ac.ir/article_725_32c9510b063763f1d8f28d021eb58a1a.pdfدانشگاه شهید باهنر کرمانمجله دانش حسابداری2008-891451720140906Impact of Agency Costs on Investment-cash Flow Sensitivityتأثیر هزینههای نمایندگی بر حساسیت سرمایهگذاری – جریانهای نقدی9711872610.22103/jak.2014.726FAمهدیعربصالحیاستادیار حسابداری، دانشگاه اصفهانسپیدهکاظمی نوریکارشناس ارشد مدیریت مالی، دانشگاه اصفهانJournal Article20130413Firm’s cash flow as a cheap finance source, may affect the level of investment, and high investment-cash flow sensitivity may cause investment inefficiency. The agency theory implies that managers of the firms with excess cash flow may over-invest for the purpose of private benefits. Additionally, agency costs and conflicts between managers and shareholders may lead to over/under-investment. This study investigates the impact of agency costs on investment-cash flow sensitivity. The target sample includes 103 firms listed in the Tehran Stock Exchange (TSE) during 2007 to 2011. The research takes logistic regression model to investigate the impact of agency costs on investment-cash flow sensitivity. Results show that agency costs are not the only source of inefficient investment, but could be regarded as the origin of increasing investment-cash flow sensitivityhttps://jak.uk.ac.ir/article_726_8b6f004f7c34adb0cc2560bf24b7818b.pdfدانشگاه شهید باهنر کرمانمجله دانش حسابداری2008-891451720140906Managerial Ability and Accruals Qualityتوانایی مدیریت و کیفیت اقلام تعهدی11913972710.22103/jak.2014.727FAموسیبزرگ اصلاستادیار حسابداری، دانشگاه علامه طباطباییبیستونصالحزادهکارشناس ارشد حسابداری، دانشگاه علامه طباطباییJournal Article20130825The results of researches conducted outside of Iran, reflect the effect of managerial ability on earnings quality. Based on the theory, managerial ability positively related to earnings quality, but empirical researches stand in conflict with each other so that based on the results, managerial ability could be related to earnings quality positively as well as negatively. This study clarifies the relationship between managerial ability and accruals quality in listed companies in the Tehran Stock Exchange.
Using the liquidation to proxy for accruals quality, and the part of firm efficiency not affected by the firm specific characteristics to measure managerial ability, DEA and multivariate linear regression have been two models that are applied for statistical analysis. The period of four years from beginning of 1384 to the end of 1387 is considered and the sample of research includes 79 listed companies in the Tehran Stock Exchange. The results show that there is not significant relationship between accruals quality and managerial ability in the research periodhttps://jak.uk.ac.ir/article_727_5012393a50ca31c8451ec7bdedec1f51.pdfدانشگاه شهید باهنر کرمانمجله دانش حسابداری2008-891451720140906Effects of Economic and Accounting Variables on Capital Structure of Firms in Tehran Stock Exchangeبررسی تأثیر متغیرهای اقتصادی و حسابداری بر ساختار سرمایة شرکتهای پذیرفته شده در بورس اوراق بهادار تهران14116272810.22103/jak.2014.728FAفرزادکریمیاستادیار اقتصاد، دانشگاه آزاد اسلامی واحد مبارکهداریوشفروغیاستادیار حسابداری، دانشگاه اصفهان0000-0002-7164-6728محمّدنوروزیکارشناسی ارشد حسابداری، دانشگاه آزاد اسلامی واحد مبارکهسیّد محسنمدینهدستیار علمی، گروه حسابداری، دانشگاه پیام نورJournal Article20130312This paper investigates the effects of economic and accounting variables on capital structure of the firms accepted in the Tehran Stock Exchange (TSE), using seemingly unrelated regression equations. In this study, the macroeconomic variables of inflation rate, exchange rate, gross domestic product, interest rate and bank loans, along with the accounting variables of dividend payout and the short-term and long-term debt rates were considered the variables affecting capital structure of the firms accepted in the TSE, using data from 143 firms during 1380 to 1389.
The results show that the hypotheses of positive effects of exchange rate, bank loans, dividend payout, short-term debt and long-term debt rates, and of negative effects of inflation rate, gross domestic product, and the interest rate on capital structure of companies in the TSE have been correctly expectedhttps://jak.uk.ac.ir/article_728_9742c31d9ee4678240e7da45c47e0c8a.pdfدانشگاه شهید باهنر کرمانمجله دانش حسابداری2008-891451720140906Firm’s Life Cycle, Capital Structure and Value of Firms Listed in Tehran Stock Exchange (TSE)چرخة عمر واحد تجاری، ساختار سرمایه و ارزش شرکتهای پذیرفته شده در بورس اوراق بهادار16318072910.22103/jak.2014.729FAکاوهمهرانیدانشیار حسابداری، دانشکدة مدیریت، دانشگاه تهرانآرشتحریریاستادیار حسابداری، دانشکدة مدیریت، دانشگاه تهران.سورانفرهادیدانشجوی کارشناس ارشد حسابداری، دانشکده مدیریت، دانشگاه تهران.Journal Article20140202Today, since markets are highly competitive, optimal arrangement of recourses seems important to preserve firm’s position and growth. This is so vital and unavoidable that capital structure of firms may directly affect firms’ value. To maximize utility, firms choose different economic policies during their life cycle. This research aims to answer the question that if life cycle can affect the relationship between capital structure and firm’s value, or not. The answer to the question could be of empirical issue. The period of the study is 1384 to 1389, and data takes 480 year/firm records.
The results from statistical tests show that firm’s life cycle affects the relationship between capital structure and firm value, and that the effect is more considerable for growing firms than matured ones. In other words, the explanatory power of statistical study for the model viewed for the growing firms is more than that for the matured firmshttps://jak.uk.ac.ir/article_729_e3667a8fdda24f3c1d8436c841b37d4b.pdf