Examining Earnings Management in IPO Firms in Contrast to the Other Firms: Evidence from Tehran Stock Exchange
Mohammad Reza
Nikbakht
دانشیار دانشکده مدیریت دانشگاه تهران
author
Masoud
Taheri
author
MohammdSadegh
Ghaznavi
author
text
article
2015
per
The importance of bottom line of income statement has a long and supported history. Earnings is the base of so many contracts and therefore takes attention of lots of stakeholders. The management is among these stakeholders and based on positive accounting theory this number means a lot for him. Accordingly, it’s expected that this participant directs earnings towards his/her interests. One of management interests is to overprice the company’s IPO. However, it should be considered that managements of other companies also have some incentives to manage their earnings. In the following study we examined earnings management in IPO firms in contrast to the other firms. In this way, we used Kothari performance-match model. The results shows that there is no significant difference between these two groups. In other words, overpricing incentive in contrast to other earnings management incentives has no more weight.
Accounting and Auditing Research
Licence Holder
Iranian Accounting Association
Director & Editor-in-chief
Ali Saghafi(PhD)
Director & General Secretary
Naser Partovi
Editorial Assistant
Maryam Asgharzadeh Badr
2251-8428
7
v.
28
no.
2015
4
17
https://www.iaaaar.com/article_103772_cef8f08dcd9810cdc81b78ee6eb18629.pdf
dx.doi.org/10.22034/iaar.2015.103772
The relationship between quality of aggregate disclosure (mandatory and voluntary) and financial and nonfinancial characteristics of companies listed in Tehran Stock Exchange
Narges
Sarlak
مدیرگروه حسابداری، داشکده مدیریت دانشگاه قم
author
Amaneh
Mohammadi
کارشناسی ارشد، دانشکده مدیریت دانشگاه قم
author
text
article
2015
per
This study examines the relationship between company financial and nonfinancial characteristics and mandatory and voluntary disclosure for companies listed in Tehran Stock Exchange. For this purpose, we choose 153 companies that have been ranked in the list of disclosure ranking in Tehran Stock Exchange from 1386 to 1391 as samples. Variables such as concentration of ownership, board structure, ownership, board members, management conservation, management integrity, management efficiency, growth opportunities, product market competition, liquidity, firm age, firm size, profitability, financial leverage and asset levels have been selected as financial and nonfinancial characteristics. Multiple regressions using panel data were applied to hypothesis testing. The results indicate positive relationship between mandatory disclosure and the efficiency of the management, the company's liquidity, profitability, financial leverage and asset quality levels. Product market competition and the quality of mandatory disclosure were in negative relationship. Also there were positive relationship between board structure, liquidity, company size, profitability, financial leverage, level of asset and the quality of voluntary disclosure. Negative relationship between board members and the quality of voluntary disclosure has been observed. There were no relationships in the remaining cases.
Accounting and Auditing Research
Licence Holder
Iranian Accounting Association
Director & Editor-in-chief
Ali Saghafi(PhD)
Director & General Secretary
Naser Partovi
Editorial Assistant
Maryam Asgharzadeh Badr
2251-8428
7
v.
28
no.
2015
18
35
https://www.iaaaar.com/article_103773_95b9871f5512484471354ad4c29539d5.pdf
dx.doi.org/10.22034/iaar.2015.103773
The effect of capital structure on unconditional conservatism and agency costs in firms listed in Tehran Stock Exchange
Rasol
Baradaran Hasanzadeh
دانشیار گروه حسابداری، واحد تبریز، دانشگاه آزاد اسلامی، تبریز، ایران
author
Reza
Beheshti Nahand
کارشناس ارشد حسابداری،دانشگاه آزاد اسلامی واحد تبریز
author
text
article
2015
per
The purpose of this study was to determine the effect of conditional conservatism in debt contracts and agency costs on the Tehran Stock Exchange. Debt contracts are meant to measure the five criteria, the debt-to-equity ratio, the ratio of short-term debt to assets ratio, long term debt to assets ratio, debt to asset ratio of non-interest-bearing liabilities Interest assets and to measure the agency costs of free cash flow and the interaction between growth opportunities and to measure the conservative wing models Shiva Kumar (2005) is used. This study applied research and its methods of causal - after the event. Statistical society research Companies including accepted in Tehran stock exchange and research sample with the use of systematic sampling is omissive and conditions research variables the number of 75 companies from 18 industry in the years 1385 to 1390 has been selected.For analysis data and theory test the Statistical technique of diagnosing a picture has been used and the results of that research indicates that compared to the rights of the owners of the debt stock increased the conservatism and lack of effect on Agency costs analysis debts in the form of short and long term will lead to the increase in conservatism and Agency costs are also debts interest resulted in decrease in a conservatism and the Agency costs And debts without interest cost will decrease the Agency costs and the lack of effect on conservatism..
Accounting and Auditing Research
Licence Holder
Iranian Accounting Association
Director & Editor-in-chief
Ali Saghafi(PhD)
Director & General Secretary
Naser Partovi
Editorial Assistant
Maryam Asgharzadeh Badr
2251-8428
7
v.
28
no.
2015
36
53
https://www.iaaaar.com/article_103775_7c26bac3e297920a733ae72e02a9300b.pdf
dx.doi.org/10.22034/iaar.2015.103775
Managers’ decision making based on capital budgeting and its effect on financial performance of public and private companies
Abdorreza
Asadi
Department of Management, Islamic Azad University
author
Ahmad
Zendehdel
استادیار آمار کاربردی، گروه ریاضی و آمار، دانشگاه آزاد اسلامی، واحد نیشابور
author
Negar
Arashnia
کارشناس ارشد مدیریت مالی، دانشگاه آزاد اسلامی، واحد نیشابور
author
text
article
2015
per
This study investigates performance measures based on capital budgeting methods. To test the first, second and third hypotheses, one sample t-test and for forth one chi square method are used in the study. A multiple regression model is also used to test fifth hypothesis. Required data collected from a sample of 80 companies comprising some listed firms of Tehran stock exchange along with some other private companies. The results indicate that public companies are more likely to use discounted methods to analyze their investment projects compared to private firms. It is also concluded that companies employing the discounted methods would have better financial performance in comparison with other companies. The study indicated a significant relationship between capital budgeting methods and firm’ financial performance.
Accounting and Auditing Research
Licence Holder
Iranian Accounting Association
Director & Editor-in-chief
Ali Saghafi(PhD)
Director & General Secretary
Naser Partovi
Editorial Assistant
Maryam Asgharzadeh Badr
2251-8428
7
v.
28
no.
2015
54
71
https://www.iaaaar.com/article_103778_57ecd293b9387ec758643de2d9c94ee5.pdf
dx.doi.org/10.22034/iaar.2015.103778
The Effect of Firm growth on Mispricing of Accruals and Cash Flows in Tehran Stock Exchange
Marjan
Akhond
author
Mehdi
Basirat
استادیار و مدیر گروه اقتصاد، دانشگاه آزاد اسلامی واحد اهواز،
author
text
article
2015
per
This study of the relationship between Firm growth and the abnormality is accruals and operating cash flow.future profits are expected or not. The variables investigated included operating cash flow, accruals, and they Firm growth. In this study data from companies listed in Tehran Stock Exchange from 1381 to the end of 1390 is used. For data analysis, research, data, combined with the regression method and system of simultaneous equations with Mishkin test (1983) is used. The results showed that firms with higher Firm growth than firms with lower Firm growth, pricing of accruals and cash flow is tilted.
Accounting and Auditing Research
Licence Holder
Iranian Accounting Association
Director & Editor-in-chief
Ali Saghafi(PhD)
Director & General Secretary
Naser Partovi
Editorial Assistant
Maryam Asgharzadeh Badr
2251-8428
7
v.
28
no.
2015
72
87
https://www.iaaaar.com/article_103779_c5154b49f8378910832f1a35a747c0ad.pdf
dx.doi.org/10.22034/iaar.2015.103779
Accounting Quality and Stock Price Delay
Mohammad Mehdi
Naderi Nooreini
استادیار، دانشگاه شهید بهشتی
author
Elham
Ashari
دانشجوی کارشناسی ارشد، دانشگاه شهید بهشتی
author
text
article
2015
per
In frictionless capital market with complete information, stock prices adjust to new information instantaneously and completely. However, a substantial body of research studies information imperfections. Information imperfections potentially hinder timely price discovery and are associated with delayed stock price adjustment to information. Poor accounting quality is likely associated with uncertainty about stock valuation parameters and incomplete information which leads to delayed stock price adjustment. Existing research analyzes the effect of accounting quality on stock price delay in Tehran Stock Exchange. The study uses 61 listed companies in Tehran Stock Exchange data during the years 1387 to 1391 solar. The results suggest poor accounting quality is associated with less timely price adjustment.
Accounting and Auditing Research
Licence Holder
Iranian Accounting Association
Director & Editor-in-chief
Ali Saghafi(PhD)
Director & General Secretary
Naser Partovi
Editorial Assistant
Maryam Asgharzadeh Badr
2251-8428
7
v.
28
no.
2015
88
99
https://www.iaaaar.com/article_103784_3e34b8d3a781ee83f51eb33a912acd3a.pdf
dx.doi.org/10.22034/iaar.2015.103784
Examine the relationship between corporate governance and ownership structure on earnings management of listed companies in Tehran stock exchange
Soheila
Mahdavi
دکترای اقتصادمالی، عضو هیأت علمی مؤسسه آموزش عالی پرندک (غیرانتفاعی)
author
Zohreh
Taghavi
دانشجوی کارشناسی ارشددانشگاه آزاد مرکزآموزشهای بین اللملی خلیج فارس آبادان
author
text
article
2015
per
One of the main aims of corporate governance is reduction in the interest differences between shareholders and managements of the company. Corporate governance is more important when the management differ from the shareholders interests. A sample of shareholders' interest difference is through profit's management by the accruals. Corporate governance most probably reduces the interest management and probably improves the financers understanding of the company's activities which are evaluated by the interest of managements' conditions. The main aim of this project is to analyze relationship between corporate governance and ownership structure with the interest management and the controlling variables in this research are: size, finance yield.
Accounting and Auditing Research
Licence Holder
Iranian Accounting Association
Director & Editor-in-chief
Ali Saghafi(PhD)
Director & General Secretary
Naser Partovi
Editorial Assistant
Maryam Asgharzadeh Badr
2251-8428
7
v.
28
no.
2015
100
120
https://www.iaaaar.com/article_103785_41aeaca656179379f365c4f5020f1dc5.pdf
dx.doi.org/10.22034/iaar.2015.103785