Effects of Cash Flow on Corporate Investment Decisions
Mohammad Esmaiel
Fadaie Nezhad
دانشیار و عضو هیئت علمی دانشکده مدیریت و حسابداری دانشگاه شهید بهشتی
author
Mohammad
Noferesti
دانشیار و عضو هیئت علمی دانشکده اقتصاد دانشگاه شهید بهشتی
author
Mohammad
Eghbalnia
دانشجوی دکترای مدیریت مالی دانشگاه شهید بهشتی
author
text
article
2014
per
In theory, it is expected that firm internal funds has no impact on its investments. However, there is a lot of empirical evidence about the positive relationship between firm investment and cash flows. This study uses regression analysis to survey the effects of cash flows on investment decisions of TSE firms between years 1380-1389. The results show that in parallel with previous findings in literature, there is a positive relationship between the two parameters that shows agency problems and market imperfections of Iran capital market
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
6
v.
23
no.
2014
4
23
https://www.iaaaar.com/article_104336_e1675ff772df7873cf113f9c9e6e5023.pdf
dx.doi.org/10.22034/iaar.2014.104336
Study of board compensation and accounting performance indexes
(Evidence from: listed firms in Tehran Stock Exchange)
Esfandiar
Malakian
دانشیار حسابداری دانشگاه مازندران
author
Mahmoud
Samadi Lorgani
استادیار حسابداری دانشگاه آزاد اسلامی واحد تنکابن
author
Abbasali
Daryaie
دانشجوی دکتری حسابداری، دانشگاه شیراز
author
text
article
2014
per
With the advent of the representation theory of the separation of management from ownership, management performance evaluation is proposed. The indicators and criteria should be considered for this purpose, the accounting indicators and economic indicators are among them. Therefore, in this study the influence of board remuneration on account of the performance evaluation will be discussed. To this end, an empirical test of the implications of agency theory is based on data for the years 2002 to 2008 from all eligible companies in Tehran Stock Exchange were collected using the adjusted coefficient of determination, analysis of variance and A linear regression model this relationship was examined. In this study, the effect of bonuses on the net cash flows from operating activities and Tobin's Q ratio of all companies and industries chosen were examined. Research findings indicate there is a significant relationship between the level of the whole company bonus net cash flows from operating activities on board and the weak relationship between the amount of remuneration of the board and Tobin's Q. there is not a significant relationship between Tobin's Q ratio and compensation.
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
6
v.
23
no.
2014
24
35
https://www.iaaaar.com/article_104337_b8eb04cc0b207d4e37e16b2dc47c6b59.pdf
dx.doi.org/10.22034/iaar.2014.104337
The Effect of Earning Quality on Idiosyncratic Return Volatility
Behzad
Ghorbani
دانشجوی دکتری، دانشگاه آزاد اسلامی، واحد علوم و تحقیقات اصفهان
author
Daryoush
Foroghi
دانشیار دانشگاه اصفهان، ایران
author
Hadi
Amiri
استادیار دانشگاه اصفهان، ایران
author
text
article
2014
per
The purpose of this research is investigating the effect of earning quality on idiosyncratic return volatility in the companies listed in Tehran Stock Exchange. For investigating this relationship; we use data for 69 listed companies on Tehran Stock Exchange for period of 2001-2010. In this research, we use earnings quality index based on Squared abnormal accruals ( ) to measure Earning Quality and three-factor model of Fama and French (1993) to calculate the idiosyncratic return volatility. For data analysis we employ the linear multiple regression with use of panel data. The results show that earning quality has the inverse effect on idiosyncratic return volatility. Results of the research also indicate that annual stock return and operating cash flow of next year have direct effect and firm size has inverse effect on idiosyncratic return volatility.
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
6
v.
23
no.
2014
36
55
https://www.iaaaar.com/article_104338_4d09df184fe83c21feb7d7dbf644b597.pdf
dx.doi.org/10.22034/iaar.2014.104338
The Study and Recognition of Dominated view about the Teaching of Accounting in Universities; Traditional view or Ethical view
Hasan
Hemati
استادیار حسابداری مؤسسه آموزش عالی رجاء قزوین
author
Naser
Partovi
عضو هیأت علمی مؤسسه آموزش عالی پرندک
author
Mojtaba
Ebrahimi Romanjan
دانشجوی دکتری حسابداری و دانشگاه آزاد اسلامی، واحد بیرجند
باشگاه پژوهشگران جوان و نخبگان، بیرجند، ایران
author
text
article
2014
per
The dominant point of accounting profession in comparison with the others is the accountability to the public. The continuity of the accounting depends on the society confidence in the rendered services. Therefore, those individuals working in this major should possess high quality ethical measures in addition to the professional proficiencies. In doing so, it seems necessary to consider moral points besides the technical skills by the professors. The main objective of this study is investigating and identifying the vision of accounting training in Islamic Azad University, PNU and Elmi-Karbodi universities of five provinces of Iran. The present paper aims to achieve the goals of four hypotheses and one question considered in the study. The information is analyzed by the self constructed questionnaire in three orientations with 95 percent of reliability. The applied tests are single variable, ANOVA and Fridman tests. The findings reveal that the accounting training trends of these universities has been the traditional one and the accounting is not taught in a moral and research manner. Additionally, there is no significant difference between the accounting training approaches of different universities. It was also found that the measures of ethical and new accounting training of these universities are at the lowest level.
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
6
v.
23
no.
2014
56
69
https://www.iaaaar.com/article_104339_e54a303f0008ea0da5a14a79f823d51d.pdf
dx.doi.org/10.22034/iaar.2014.104339
Sustainability of Tax Paid Rate and
Investors’ Expectations of Future Earnings
Shahnaz
Mashayekh
استادیار حسابداری دانشگاه الزهرا(س)، تهران، ایران
author
Mahsa
Ghasemi
دانشجوی دکتری دانشگاه الزهرا(س)، تهران، ایران
author
Manizheh
Rameshe
عضو هیئت علمی دانشگاه آزاد اسلامی، واحد فریدن، اصفهان، ایران
author
text
article
2014
per
This study investigates the investors' perception of firm's sustainability of tax paid rate to price the persistence of a firm’s pre-tax earnings and earnings components using the Mishkin (1983) methodology. Conceptually, sustainability of tax paid rate is defined as achieving consistent tax avoidance outcomes over time. The sample consists of 54 firm observations from 1381-1390 which are listed in Tehran Stock Exchange. The results indicate that investors do not use the sustainability of tax paid rate as a signal to assess pre-tax earnings and earnings components.
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
6
v.
23
no.
2014
70
87
https://www.iaaaar.com/article_104340_746e83707282fa6f905b4b17fab6bafc.pdf
dx.doi.org/10.22034/iaar.2014.104340
Comprehensive Review of Predictability Power and Informational Content of Income Statement and Balance Sheet Variables for Future Cash Flow
Farokh
Barzideh
استادیار، عضو هیات علمی دانشگاه علامه طباطبایی
author
Alireza
Shahriari
دکتری حسابداری
author
text
article
2014
per
In this paper predictability power of four variables (accrual, cash flow, earning, and net operating assets) is tested.. The study is at firm level in Tehran Stock Exchange using the data of 153 firms for 7 years ( 1382- 1389). In addition to, we run multivariate regression to test incremental information content of the four variables. We found evidence of accrual reversal phenomena in our sample. Also, we observed that predictability power of operating power is bigger than other variables. At last, we documented that among the variables, only operating earning has incremental information content.
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
6
v.
23
no.
2014
88
101
https://www.iaaaar.com/article_104341_32c8d16f1262bb206205c3bb41f01580.pdf
dx.doi.org/10.22034/iaar.2014.104341
The Impact of Product Market Competition & Corporate Governance on Cash Holdings Policies in Companies Listed on The Tehran Stock Exchange
Mohammad
Seirani
استاد مدعو دانشگاه تهران
author
Hossein
Seifgholi
کارشناس ارشد حسابداری دانشگاه آزاد اسلامی واحد کاشان
author
text
article
2014
per
In firms with weak governance mechanisms, there are incentives and opportunities for managers to use corporate resources to pursue their own interests. Meanwhile, the company's cash flow due to its high liquidity, the highest risk in terms of the use of improper actions by manager's expansion, providing rewards for taking adverse welfare benefits and other activities, the resources are wasted. The main purpose of the research, focusing on the level of competition in the product market as an indicator of corporate governance and its effect on cash held by managers of corporations have policies.
From 1385 to 1389, including five consecutive years of research and study sample consisted of 104 firms in Tehran Stock Exchange. The results show that the claims about the size of the board are true, and the mechanisms of institutional ownership and board independence, the expected results were not fulfilled. Overall, it seems that competition in the product market, strengthen supervision and control of the board members, has had a significant impact and it prevented from the accumulation of cash in the company.
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
6
v.
23
no.
2014
102
119
https://www.iaaaar.com/article_104349_295006a0d3dc3b4e2a24027a9859a1dc.pdf
dx.doi.org/10.22034/iaar.2014.104349
Comparison of Ant Colony Algorithm (ACA) with MDA & LOGIT Methods in Financial Distress Prediction
Farzin
Rezaie
استادیار حسابداری دانشگاه آزاد اسلامی- واحد قزوین
author
Babak
Nezhadtolemi
دانشجوی دکتری تخصصی حسابداری – مدرس دانشگاه
author
text
article
2014
per
In this research, the Ant colony algorithm(ACA) was compared with two parametric models of multiple discriminant analysis (MDA) and LOGIT for predicting of financial distress, meanwhile, models were applied for data mining directed to superior variables in financial distress prediction. data of 130 companies from 2005 to 2010 in form of two experiments were used.
The first experiment was based on distressed companies that fell under article 141, and non-distressed companies that did not fall article 141. This experiment included 130 year company and was done in two training and control samples each consisted 65 companies.
By studying the results of this experiment based on 15 variables with using data mining by each of three models, two superior variables of models were obtained including earnings before financial expenses and taxes to total assets and net worth to total assets.
Based on superior variables in the first experiment, the second experiment was performed that was based on a sample including all of companies in the first experiment in all years of study that were among domestic listed companies and included 718 year company.
The percent of financial distress prediction's success for ACA was 96.94% (distressed: 95.21%, non-distressed: 97.38%), for MDA was 95.82 (distressed: 82.88%, non-distressed: 99.13%) and for LOGIT was 97.08% (distressed: 88.36%, non-distressed: 99.30%).
The results have shown that Ant Colony Algorithm in financial distress prediction is significantly superior than MDA (5%) and is significantly superior than LOGIT (9%).
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
6
v.
23
no.
2014
120
143
https://www.iaaaar.com/article_104350_680ece813dd742ac5d21e8b5b2b44759.pdf
dx.doi.org/10.22034/iaar.2020.104350
A Study about the power of accounting variables in predicting future cash flows, during the stages of company's life - cycles
Seyed Farhad
Goran Heidari
دانشپذیر DBA
مدیر مالی هتل پارسیان کرمانشاه – بنیاد مستضعفان
author
Mahmoud
Hematfar
دکتری مدیریت بازرگانی دانشگاه آزاد واحد علوم و تحقیقات تهران
دانشیار دانشگاه آزاد اسلامی واحد بروجرد
author
text
article
2014
per
The aim of this study is to investigate the predictability power of future cash flows on some accounting variables during the frim’s life cycle (growth, maturity and decline). The sample of this research is table data which id selected from the firm’s listed in TSE during the period of 2003 – 2009. The findings show that, considering the life cycle postulates, operation cash flows growth increases in the growth stage gradually and reaches to its top in maturity and decreases in declining stage. Considering that regression considering that regression coefficient of every four models for maturity stage and also regression coefficient of every four models for maturity stage is more than regression coefficient of every four models for declining stage , it can be said that life cycle postulates have reliability in stages of growth , maturity and declining. The results of study are consistent with the life cycle postulates. More over, the results of each life cycle stage are almost according to the results of all sample firms
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
6
v.
23
no.
2014
144
160
https://www.iaaaar.com/article_104351_520ae39b289ed10791cc1a8a0c6178cc.pdf
dx.doi.org/10.22034/iaar.2014.104351