Analyzing Financial Statements by using Window Data Envelopment Analysis Evidence from Iran
Mohsen
Dastgir
استاد، دانشگاه آزاد اسلامی، واحد اصفهان (خوراسگان)، گروه حسابداری، اصفهان، ایران
author
Mansour
Momeni
استاد گروه مدیریت، دانشگاه تهران، تهران، ایران
author
Saber
Saati Mohtadi
دانشیار، دانشگاه آزاد اسلامی، واحد تهران شمال، گروه ریاضیات، تهران، ایران
author
Mehdi
Alinezhad Sarokolaie
استادیار، دانشگاه آزاد اسلامی، واحد تبریز، گروه حسابداری، تبریز، ایران
author
text
article
2014
per
Data envelopment analysis model is one of the new methods used to financial statement analysis. But the disadvantage of this method is that it assesses the performance only within a certain time period and statically. Thus, this research is aimed at studying the financial statements' analysis of companies accepted in Tehran Stock Exchange by using window data envelopment analysis model. The main reason to use this new model is to study the performances of firms during different time periods. Thus, we have chosen 100 firms from among those firms as our sample during the time period between 2005 and 2010. The results of our research show that from among the sample firms, only one has retained %100 of its performance efficiency during the time period mentioned.
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.
24
no.
2014
4
15
https://www.iaaaar.com/article_104324_bd8837a63af5443ff19162380ad1ff51.pdf
dx.doi.org/10.22034/iaar.2014.104324
Predict the relationship between stock returns and information asymmetry using artificial neural networks
Seyed Hosein
Sajadi
دانشگاه شهید چمران
author
Mohsen
Rashidi Baghi
دانشجوی کارشناسی ارشد حسابداری دانشگاه شهید چمران اهواز
author
Mohsen
Shiralizadeh
کارشناس ارشد حسابداری دانشگاه شهید چمران اهواز
author
text
article
2014
per
Given the importance of return on investment studies to estimate the relationship between information asymmetry and return is an important issue. Changes in efficiency, inadequacy studies, and existence of effective factors are cause of development new and intelligent methods to estimate the stock return of companies. The aim of this study is to predict stock returns using information asymmetry with an artificial neural network approach. The independent variable in this study is information asymmetry and stock return is the dependent variable. Therefore, the variables for the 100 companies in the stock exchange and has been collecting for 6 years. Estimated output of artificial neural networks and the results of the estimation using this approach, with evaluation criteria is (R2= 0.99, MSE= 0.064 and MAE= 0.21). Considering the random value (50%) compared with R2= 0.99, correlation between information asymmetry and stock return are observed. Also, the designed network has the least error (MSE = 0.064 and MAE= 0.21) than the other networks.
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.
24
no.
2014
16
33
https://www.iaaaar.com/article_104325_7ba7e68d3e9c588379d6572adecc7963.pdf
dx.doi.org/10.22034/iaar.2014.104325
The investigation of the Effect of Board of Directors Characteristics on the Firm Performance in Different Level of Market Competition
Ahmad
Khodamipour
دانشیار گروه حسابداری دانشگاه شهید باهنر کرمان
author
Ramin
Ghorbani
کارشناس ارشد حسابداری
author
Javad
Nikkar
دانشجوی دکتری حسابداری دانشگاه شهید چمران اهواز
author
Younes
Bozraie
کارشناس ارشد حسابداری
author
text
article
2014
per
The process of globalization and the expansion of consumption markets and the increasing number of competitors and degree of competition, it is important to make concepts such as competitiveness. Competitiveness has significant influence over the company's activities and actions. However, studies in some countries showing that the efficiency of the corporate governance mechanisms can be influenced by market competition. Therefore, the present study was to examine the relation between board characteristics and firm performance due to market competition. Accordingly, the data needed for the study of 120 companies listed in Tehran Stock Exchange for the period 1383 to 1389 and panel data regression model were used to test the hypotheses. Also, nonexecutive members of board, the percentage ownership of the board of directors and board members are used as features. For this purpose, six hypotheses to examine this issue in two companies with strong and weak market competition have been considered. The results show a significant impact on the performance of the Board of Directors of the Company does not have any competitive levels. In other words, the Iranian market, the board lacked the necessary performance and their relation with the firm performance does not affect by market competition.
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.
24
no.
2014
34
49
https://www.iaaaar.com/article_104326_76b626d2d33c28af6b7e7c426ec90410.pdf
dx.doi.org/10.22034/iaar.2014.104326
Survey Relation between Tax Avoidance and tax difference in listed Companies in Tehran Stock Exchange
Sasan
Mehrani
دانشیار دانشکده مدیریت دانشگاه تهران، ایران
author
Seyed Jalal
Seyedi
دانشجوی دکتری حسابداری دانشگاه علامه طباطبایی، ایران
author
text
article
2014
per
Tax income is one of the most effective factors that influence decisions and strategies of firms and decision makers. Previous literature and empirical results states that companies are trying to choose strategies that will result in tax savings. Also that conservatism and tax avoidance can be complementary or supplant tools for doing that action; empirical evidences show that these tools are used as supplants tools. With this in mind, a question arise that why firms do in that manner and try to be more conservatism. Results of examining 146 companies listed in Tehran Stock Exchange in the 2001 to 2011 by unbalanced Panel model and OLS, Shows that there is a positive and significant relation between tax avoidance and Tax difference between Government prepared Tax and Tax Expresses. In another words, the government is willing to request more tax from companies that do tax avoidance. In previous researches determined that there is no significant relation between conservatism and tax differences. Suffice to say that in basis of this research and previous ones, conservatism related to tax avoidance is a more effective tool for tax savings.
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.
24
no.
2014
50
75
https://www.iaaaar.com/article_104328_2514f1710ab8ae57f24c267213a4c81f.pdf
dx.doi.org/10.22034/iaar.2014.104328
Study Of Main Components Of Effective Tax Rate In The Accepted Firms, In The Tehran Stock Exchange, Based On Model Of Multivariate Nonlinear Regression.
Mohammad
Kashanipour
دانشیار دانشگاه تهران
author
Hossein
Fakhari
استادیار دانشگاه مازندران
author
Sina
Aziz Jalali
کارشناس ارشد حسابداری
author
text
article
2014
per
Effective Tax Rate Of Firms Plays An Important Role In Economical Decision Making For Firms, Legislators, And Financial Analysts. This Paper Has Been Effectively Studied The Effect Of Firm Size, Capital Intensity, Leverage, Maintenance Intensity Of Inventory, Audits Fee And Ratio Of State Ownership As A Part Of Main Components Of Effective Tax Rate In The Accepted Firms, In The Tehran Stock Exchange, Where In This Relationship, Relationship Exchange, Between Effective Tax Rate With Firm Size, Capital Intensity, And Leverage Have Been Considered To Be Nonlinear. For This Purpose, Compositional Data From 68 Firms Has Been Used, As Of 1368 To 1390. The Results From Statistical Analyses Shows That There Is An Meaningful Nonlinear Relationship Between Effective Tax RateWith Firm SizeAnd Leverage, And Also There Is An Meaningful And Direct Relationship Between Effective Tax Rate With Investment Intensity In Good InventoryAnd Profitability. While, There Is A Meaningful Inverse Linear Relationship Between Effective Taxes Rate With State Ownership And Auditors' Fees. Meanwhile, There Was No Meaningful Nonlinear Relationship Between Effective Taxes Rate And Investment Intensity.
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.
24
no.
2014
76
89
https://www.iaaaar.com/article_104329_391985bcb5f76d909011c662ba2542d4.pdf
dx.doi.org/10.22034/iaar.2014.104329
The Effect of Earnings Surprises and Earnings Quality Attributes on Capital Market Reactions Evidenced from Iran
Zahra
Lashgari
استادیار گروه حسابداری، واحد تهران مرکزی، دانشگاه آزاد اسلامی، تهران، ایران
author
Elham
Bakhshayesh
کارشناس ارشد حسابداری، واحد تهران مرکزی، دانشگاه آزاد اسلامی، تهران، ایران
author
text
article
2014
per
Unexpected earnings and earnings quality are considered to be very important by most investors and this may result in reactions by investors. Therefore, the present research is going to study the interactive effects of surprise earnings and earnings quality attributes on capital market reactions in Gampanies Listed accepted in Tehran Stock Exchange. The difference between the predicted earnings and real earnings has been used to calculate surprise earnings. In the present research 96 firms accepted in Tehran Stock Exchange during the time period between 2006 and 2011 were investigated. To test the hypotheses we have used panel method. The research findings show that generally the surprise earnings have positive and significant effects on market reactions. Also earnings consistency, the relevancy of earnings has negative and significant effects on market reaction and finally earnings conservatism has positive and significant effects on market reactions.
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.
24
no.
2014
90
103
https://www.iaaaar.com/article_104330_2644ce041a3b11002d7834f5393db043.pdf
dx.doi.org/10.22034/iaar.2014.104330
Predicting stock return by Using The market Ratios in Tehran stock exchange
Abdolkarim
Moghadam
استادیار گروه حسابداری دانشگاه پیام نور، ایران
author
Ehsan
Ghadrdan
عضو هیئت علمی گروه حسابداری دانشگاه پیام نور، ایران
author
Mohammad
Rashedi
کارشناس ارشد حسابداری دانشگاه پیام نور، ایران
author
text
article
2014
per
The purpose of this research is to examine the impact of financial ratios on predict of stock return. To determine the 4variable the financial ratios, earning per share, price to earning per share, price to sale per share, price to book value per share is used. The research method used in this study is post event semi-empirical design. 159 companies listed in Tehran Stock Exchange in the period 1386-1388 is reviewed. To test the hypothesis of multivariate regression models were used. Finding show that there is a meaningful relationship between the proportion of earning per share with predicted return of stock in 1386 -1388 and in 1386 there is a meaningful relationship between the proportion of price of each share to sale with predicted return of stock and in1387 and 1388 there is a meaningful relationship between the proportion of book value per share with predicted return of stock and in 1386 and 1387 there is a meaningful relationship between the proportion of price to earning per share with predicted return of stock.
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.
24
no.
2014
104
117
https://www.iaaaar.com/article_104331_e95f569860015012bffaeebc0bbf2765.pdf
dx.doi.org/10.22034/iaar.2014.104331
"The investigative of effect of ownership structure on earning persistence of companies listed in Tehran Stock Exchange"
Hojat
Sarhangi
دکتری حسابداری از دانشگاه علامه طباطبایی- استادیار دانشگاه قم
author
Abbas
Jalali Farahani
کارشناس ارشد حسابداری از دانشگاه قم
author
text
article
2014
per
This research has examined the relation between ownership structure and the earnings persistence considering the concentration and composition of the company ownership structure. Regarding ownership concentration the indices defined as biggest shareholder and the first five big shareholders of the company and for ownership composition the indices defined as managerial ownership, institutional ownership, & individual ownership. Testing hypotheses has done Through cross-sectional regression modeling and Regression analysis. This research study the firms listed in Tehran Stock Exchange and the period of the study is between 1386 to 1390. The statistical population of the study after the limitations, is the 134 companies listed in Tehran Stock Exchange for the period of study and research sample consisted of 100 firms which were chosen from the research population. The research conclusions of this research indicate that ownership structure has significant effect on the earnings persistence. managerial ownership and first five big shareholders of the company have significant positive effects on the earnings persistence. Individual ownership has significant negative effect on the earnings persistence. Also there is no statistical significant correlation between institutional ownership and biggest shareholder on the earnings persistence.
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.
24
no.
2014
118
133
https://www.iaaaar.com/article_104332_4ba5a65e1545d1efeee29f8db53a4b1c.pdf
dx.doi.org/10.22034/iaar.2014.104332
Examination of Iranian companies characteristics’ relative importance in earning quality determination and analytical comparison with market capital of other countries.
Seyed Abbas
Borhani
دانشگاه آزاد اسلامی، واحد قم، گروه حسابداری، ایران، قم
author
Ebrahim
Jafarimanesh
دانشگاه آزاد اسلامی، واحد قم، گروه حسابداری، ایران، قم
author
text
article
2014
per
Since reporting and determining organization and business entities’ profit has been placed in accounting’s expert’s circle of attention, quality of earning is considered as one of the most important theoretical areas and always stressed on its importance. Although goal of this research is to find effective factors regarding quality of active companies in Iranian capital market, but lack of a comprehensive measure for earning quality and precise statistical based criteria has been proofed which is considered as the main problem in pas research in this field. We addressed this problem in our article. Also across all the pas researches in Iran, none of them could represent a comparative analysis of Iranian companies’ earning quality with other countries. Using a comprehensive earning quality measurement is on the most advantages of this article from the pas ones. We measured quality of earning by using seven indictors (relativity, accrual quality, timeliness, conservatively, smoothing, stability and predictability). Our independent variables in level of companies are: size, sale, sales volatility, cash flow volatility, and loss incurring frequency and investment opportunities). Time period of this research is 2001-2012. Our results imply positive relationship between earning quality and Iranian companies’ size, investment opportunities, also we observed a reverse relationship between earning quality and cash flow volatility. Finally we concluded that in our researching time period cash flow volatility has stronger effect in Iran than other countries.
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.
24
no.
2014
134
150
https://www.iaaaar.com/article_104333_63ab24925096e59de621a7440edf70ff.pdf
dx.doi.org/10.22034/iaar.2014.104333