تبیین رابطه بین اظهارنظر حسابرس و ویژگی‌های کیفی حسابرس بر مدیریت سود
محورهای موضوعی : مدیریت
امید صباغیان طوسی
1
(گروه حسابداری، واحد دماوند، دانشگاه آزاد اسلامی، دماوند، ایران.)
زهرا مرادی
2
(گروه حسابداری، واحد دماوند، دانشگاه آزاد اسلامی، دماوند، ایران.)
شهره یزدانی
3
(گروه حسابداری، واحد دماوند، دانشگاه آزاد اسلامی، دماوند، ایران.)
کلید واژه: مدیریت سود, کیفیت حسابرسی, سرمایه‌گذاری, اظهارنظر حسابرس,
چکیده مقاله :
این پژوهش به تبیین رابطه بین اظهار نظر حسابرس و ویژگی‌های کیفی حسابرس بر مدیریت سود در شرکت‌های با فرصت سرمایه‌گذاری متفاوت پرداخته است. جامعه آماری پژوهش، شامل داده‌های320 شرکت طی سال‌های 1399-1389 بوده که با استفاده از معیارهای سرمایه‌گذاری به دو گروه شرکت‌های با فرصت سرمایه‌گذاری بالا و پایین طبقه‌بندی شده و با نرم‌افزار اقتصاد سنجی ای‌ویوز تجزیه و تحلیل گردیده‌اند. در مرحله اول با استفاده از روش پروبیت اثر متغیرهای کیفیت حسابرسی بر نوع اظهارنظر حسابرس آزمون گردید. یافته‌ها نشان می‌دهد که ویژگی‌های کیفی حسابرس رابطه معنی‌داری با نوع اظهار نظر حسابرس دارند. در مرحله دوم با تحلیل روش‌های حداقل مربعات معمولی و حداکثر لگاریتم درست‌نمایی نتایج نشان می‌دهد که بین مدیریت سود و ویژگی‌های کیفی حسابرس در شرکت‌های با فرصت سرمایه‌گذاری بالا که با معیارهای 1-نسبت مجموع ارزش بازار حقوق صاحبان سهام و ارزش دفتری بدهی‌های بلندمدت به کل دارایی‌ها و 2- نسبت رشد اموال، ماشین‌آلات و تجهیزات تفکیک شده، رابطه وجود دارد. این رابطه در شرکت‌های با فرصت سرمایه‌گذاری پایین که با معیارهای 1- نسبت ارزش بازار به ارزش دفتری دارایی‌ها، 2- نسبت مجموع ارزش بازار حقوق صاحبان سهام و ارزش دفتری بدهی‌های بلندمدت به کل دارایی‌ها و 3- نسبت رشد اموال، ماشین‌آلات و تجهیزات تفکیک شده، نیز برقرار است.
This study explaining relationship between audit opinion and auditor’s qualitative characteristics on earnings management in companies with different investments opportunities. In this research, the data of 320 companies during the years 2011-2021 have been analyzed using Eviews econometric software. To test the hypotheses using the middle of 4 methods (MEQLDTA), (MB), (PPEQGMEQLD) and (Growth PPE), the statistical population was classified into two groups of companies with high and low investments opportunities. In a group hypotheses were tested using data panel estimation and ML - Ordered Probit method and the results are as follows: There are a significant positive relationship between the auditor's tenure and the auditor independence with the audit Opinion. There is a significant negative relationship between the change auditor with the audit Opinion. Then the hypotheses were tested using unstructured estimation in (OLS) and (ARMA) methods and the result is as follows: Results of b_1 group hypotheses: There is a significant relationship between the earnings management and auditor’s qualitative characteristics in companies with high investments opportunities, which are separated by MEQLDTA and Growth PPE methods. Results of b_2 group hypotheses: There is a significant relationship between earnings management and auditor’s qualitative characteristics in companies with low investments opportunities, which are separated by MB, PEEQGMEQLD and Growth PPE methods.
Aliakbari, A., Vaghfi, H. (2022). " Analysis of IT Level on the Probability of Risk of Filing a Lawsuit against the Auditor with Emphasis on the Role of Audit Quality and Auditor Expertise", Financial Accounting and Auditing Researches, Vol. (14) Issue (53) April 2022. P. 91-111. Doi: 10.30495/jdaa.2022.691738. http://jdaa.iauctb.ac.ir. (in Persian)
Amin, K., and Myers, L., Justin,Sh. (2022). “To Combine or Not to Combine? Integrated Audit Reporting and Internal Control Material Weakness Opinions” (April 2022). Available at SSRN: https://ssrn.com/abstract=4074860 or http://dx.doi.org/10.2139/ssrn.4074860
Bani Mahd, B., Arabi, M., Hassanpour, Sh. (2016). Experimental and methodological research in accounting (with the use of SPSS22, EVIEWS9 and STATA12 software, Termeh Publications, second edition, (in Persian)
Becker, C.L., DeFond, M.L., Jiambalvo, J., Subramanyam, K.R. (1998). The effect of audit quality on earnings management. Contemporary Accounting Research (15), 1–24.
Berezinskaya, O. (2017). Investment drought in the Russian economy: Structural characteristics and turnaround perspectives, https://doi.org/10.1016/j.ruje.2017.02.005, Russian Journal of Economics, Volume 3, Issue 1, March 2017, Pages 71-82.
Chen, H., Chen, J., Lobo, G., Wang, Y. (2010). Effects of Audit Quality on Earnings Management and Cost of Equity Capital: Evidence from China/ Electronic copy available at: http://ssrn.com/abstract=1105539, 1-55.
Chen, S., Peer, H. (2017). effects in decision-making: Evidence from corporate investment, China Journal of Accounting Research,Volume 10, Issue 2, June 2017, Pages 167-188 open access, https://doi.org/10.1016/j.cjar.2016.11.002.
Choudhary, P., Merkley, K., Schipper, K. (2020). (First Version: October 2020- This Version: July 2020), The Last Chance to Improve Financial Reporting Reliability: Evidence from Recorded and Waived Audit Adjustments. 1-60.
David, R. (2017). Contribution of records management to audit opinions and accountability in government. South African Journal of Information Management, 19 (1), 1-14. https://doi.org/10.4102/sajim.v19i1.771
Debnath, N,. Chowdhury, S,. Khan, S. (2022), "The impact of audit quality on real earnings management: evidence from Bangladesh", International Journal of Disclosure and Governance, https://doi.org/10.1057/s41310-021-00137-x
Defond, M.L., T.J. Wong, and S.H. Li. (2000). The impact of improved auditor
independence on audit market concentration in China. Journal of Accounting and Economics 28 (3): 269-305.
Dibrova, A. (2015). Business angel investments: risks and opportunities, 11th International Strategic Management Conference 2015 Procedia - Social and Behavioral Sciences 207, 280-289, https://doi.org/10.1016/j.sbspro.2015.10.097.
Du, J., Li, W., Lin, B., Wang, Y. (2018). Government integrity and corporate investment efficiency, China Journal of Accounting Research, Publisher: Elsevier. Date: September 2018, http://dx.doi.org/10.1016/j.cjar.2017.03.002, 1-20.
Ershova, N. (2017). Investment climate in Russia and challenges for foreign business: The case of Japanese companies, Journal of Eurasian Studies, https://doi.org/10.1016/j.euras.2017.03.001, Journal of Eurasian Studies 8, 151–160.
Francis J, Micheal S. A. (2007). re-examination of the persistence of accruals and cash flows. Journal of Accounting and Economics/ 43: 45-413.
Ghaemi, H., Ghiyasvand, M., Tojaki, M. (2011). "The effect of earnings smoothing on stock returns of companies listed on the Tehran Stock Exchange", Journal of Accounting and Auditing Reviews, Volume 10, Number 33, pp. 131-150, https://www.sid.ir/fa/journal/viewpaper.aspx? ID=3871, (in Persian)
Gipper, B., Luzi Hail, L., Leuz, Ch. (2018). On the Economics of Audit Partner Tenure and Rotation: Evidence from PCAOB Data*.
Hasseh Yaganeh, Y., Tavakolnia, A, (2021). "Investigation of the relationship between the quality of financial reporting and investment in fixed assets and the moderating role of growth opportunities", Financial Accounting and Audit Research Juornal, 13th year, number 49, spring 2021, pp. 97-118, (in Persian)
Hewitt, M., Hodge, Frank D. Pratt, Jamie H.(2014). How the Discovery of Accruals-Based vs. Real Earnings Management Affects Investment Decisions.1-49, Available at SSRN: http://ssrn.com/abstract=2245204 or http://dx.doi.org/10.2139/ssrn.2245204.
Hewitt, M., Hodge, Frank D., Pratt, Jamie H.(2015). How Suspicions of the Method of Earnings Management and Its Underlying Motive Affect Investors’ Trust in Managers and Willingness to Invest in the Firm.1-52, Available at SSRN: http://ssrn.com/abstract=2245204 or http://dx.doi.org/10.2139/ssrn.2245204.
Holowczak, R., Louton, D., Saraoglu, H.(2019). Testing market response to auditor change filings: A comparison of machine learning classifiers, The Journal of Finance and Data Science Volume 5, Issue 1, Pages 48-59, https://doi.org/10.1016/j.jfds.2018.08.001.
Instructions of the trusted auditing institues of the Stock Exchange Organization, approved by the meeting on 2007/08/05 and the amendments dated 2011/11/17 and 2012/04/31 of the Supreme Council of the Stock Exchange and Securities, (in Persian)
Iranian Society of Certified Public Accountants Website (2022), (in Persian)
Kazmi, A., Naaranoja, M., Kantola, J.(2016). Reviewing Pakistan’s investment potential as a foreign investor, 12th International Strategic Management Conference, ISMC 2016, 28-30 October 2016, Antalya, Turkey, https://doi.org/10.1016/j.sbspro.2016.11.037, Procedia - Social and Behavioral Sciences 235 ( 2016 ) 611 – 617.
Kevin, C., Chen, T., Han, W., and Yuan, H. (2021).”Auditors Under Fire: The Association between Audit Errors and the Career Setbacks of Individual Auditors”. Available at SSRN: https://ssrn.com/abstract=3898922 or http://dx.doi.org/10.2139/ssrn.3898922
Khajavi, Sh., Nazemi, A. (2005). "Study of the relationship between earnings and stock returns with emphasis on the role of accruals in the Tehran Stock Exchange", Journal of Accounting and Auditing Reviews, Volume 12, Number 40, pp. 37-60, https://acctgrev.ut.ac.ir/article-10476.html, (in Persian)
Lai, K. (2009). Does audit quality matter more for firms with high investment opportunities? School of Accounting and Finance, The Hong Kong Polytechnic University, Hung Hom, Hong Kong J. Account. Public Policy 28 (2009) 33–50 journal homepage: www.elsevier.com/locate/jaccpubpol/ Electronic copy available at: http://ssrn.com/abstract=SSRN-id296899.
Law on the Use of Professional and Professional Services of Competent Accountants as Certified Public Accountants (approved on December 12, 1993 and amended on February 6, 1993 by the Islamic Consultative Assembly), (in Persian)
Lee, K., Menon, R. (2022). “Regulatory Enforcement, Internal Control Disclosures and Audit Quality”. Available at SSRN: https://ssrn.com/abstract=4025251 or http://dx.doi.org/10.2139/ssrn.4025251
Lennox, C., Wu, X., Zhang, T. (2016). The effect of audit adjustments on earnings quality: Evidence from China. Journal of Accounting and Economics 61:2-3, 545-562.
Linck, J., Netter, J., Shu, T. (2013). “Can Managers Use Discretionary Accruals to Ease Financial Constraints? Evidence from Discretionary Accruals Prior to Investment” / Electronic copy available at: http://ssrn.com/abstract=SSRN-id1573147. 1-52.
López-Gutiérrez, C., Sanfilippo-Azofra, S., Torre-Olmo, B. (2015), Investment decisions of companies in financial distress, Business Research Quarterly BRQ (2015) 18, 174-187, https://doi.org/10.1016/j.brq.2014.09.001.
Louis, K., Chan, C., Hamao, Y., Lakonishok, J. (1991). “Fundamentals and Stock Returns in Japan”, Journal of Finance, 1991, Vol. 46, issue 5, 64-1739.
Marfoo, M., Hasanzadeh Diva, M. (2019). "Profit Management; Opportunistic Behaviors, Supervisory Mechanism and Financial Helplessness", Financial Accounting and Audit Research Juornal, 12th Year, Number 48, Winter 2019, pp. 43-70, (in Persian)
Michael, E., Elizabeth, E., Chan, Li. (2014). "Fee pressure and audit quality". Accounting Organizations and Society, Volume 39, Issue 4, 247–263. https://doi.org/10.1016/j.aos.2014.04.002.
Norton, S. (2018). Suspicion of money laundering reporting obligations: Auditor compliance, or sceptical failure to engage?, journal homepage: www.elsevier.com/locate/cpa, Critical Perspectives on Accounting 50 (2018) 56–66, http://dx.doi.org/10.1016/j.cpa.2017.09.003.
Peterson, O Thankom, A.(2018). Income smoothing among European systemic and non-systemic banks, The British Accounting Review, Volume 50, Issue 5, September 2018, Pages 539-558, https://doi.org/10.1016/j.bar.2018.03.001.
Rahmina, L., Agoes, S. (2014). International Conference on Accounting Studies 2014, ICAS 2014, 18-19 August 2014, Kuala Lumpur, Malaysia, "Influence of auditor independence, audit tenure, and audit fee on audit quality of members of capital market accountant forum in Indonesia", Available online at www.sciencedirect.com, Procedia - Social and Behavioral Sciences 164 (2014) 324 – 331.
Riahi Balkoui, A. (2013). Accounting Theories, Volumes 1 and 2, translated by Parsaiyan, A, Cultural Research Office Publications, pp. 528, 530, 645, 95, (in Persian)
Sarwokoa, I., Agoes, S. (2014). International Conference on Accounting Studies 2014, ICAS 2014, 18-19 August 2014, Kuala Lumpur, Malaysia "An empirical analysis of auditor’s industry specialization, auditor’s independence and audit procedures on audit quality: Evidence from Indonesia", Available online at www.sciencedirect.com, Procedia - Social and Behavioral Sciences 164 (2014) 271 – 281.
Scalera, F., Žáková Talpová, S. (2014). International recession and MINTs development: An investment opportunity to relaunch Italian companies?. 10th International Strategic Management Conference. Available online at www.sciencedirect.com. 1877-0428 © 2014 The Authors. Published by Elsevier Ltd. This is an open access article under the CC BY-NC-ND license, (http://creativecommons.org/licenses/by-nc-nd/3.0/). Peer-review under responsibility of the International Strategic Management Conference. doi: 10.1016/j.sbspro.2014.09.141, ScienceDirect, Procedia - Social and Behavioral Sciences 150 (2014) 1248 – 1259.
Sharif, S. (2016). Investment Opportunity Set, Corporate Governance Practices and Performance of Modarabas (July 23, 2016). Available at SSRN: http://ssrn.com/abstract=2817821 or http://dx.doi.org/10.2139/ssrn.2817821. 1-16.
Shoorvarzi, M., Azadvar, I. (2010). "Analysis of the Relationship Between Investment Opportunities and Corporate Performance" Journal of Management Accounting, Year 3 / Issue 6 / Fall 2010, PP. 13, 23, https://jma.srbiau.ac.ir/article-4696.html, (in Persian)
Sidney, C., Leung, M., Srinidhi, B., Lingmin, X. (2017). ”Audit Tenure, Information Asymmetry and Earnings Quality”, Electronic copy available at: https://ssrn.com/abstract = 2941949, 1-54.
Wilkinson & Clements. (2010). “Do Leverage, Dividend Payout, and Ownership Concentration Influence Firms’ Value Creation?” Emerging Markets Finance & Trade / May–June 2010, Vol. 46, No. 3, pp. 80–94.
_||_Aliakbari, A., Vaghfi, H. (2022). " Analysis of IT Level on the Probability of Risk of Filing a Lawsuit against the Auditor with Emphasis on the Role of Audit Quality and Auditor Expertise", Financial Accounting and Auditing Researches, Vol. (14) Issue (53) April 2022. P. 91-111. Doi: 10.30495/jdaa.2022.691738. http://jdaa.iauctb.ac.ir. (in Persian)
Amin, K., and Myers, L., Justin,Sh. (2022). “To Combine or Not to Combine? Integrated Audit Reporting and Internal Control Material Weakness Opinions” (April 2022). Available at SSRN: https://ssrn.com/abstract=4074860 or http://dx.doi.org/10.2139/ssrn.4074860
Bani Mahd, B., Arabi, M., Hassanpour, Sh. (2016). Experimental and methodological research in accounting (with the use of SPSS22, EVIEWS9 and STATA12 software, Termeh Publications, second edition, (in Persian)
Becker, C.L., DeFond, M.L., Jiambalvo, J., Subramanyam, K.R. (1998). The effect of audit quality on earnings management. Contemporary Accounting Research (15), 1–24.
Berezinskaya, O. (2017). Investment drought in the Russian economy: Structural characteristics and turnaround perspectives, https://doi.org/10.1016/j.ruje.2017.02.005, Russian Journal of Economics, Volume 3, Issue 1, March 2017, Pages 71-82.
Chen, H., Chen, J., Lobo, G., Wang, Y. (2010). Effects of Audit Quality on Earnings Management and Cost of Equity Capital: Evidence from China/ Electronic copy available at: http://ssrn.com/abstract=1105539, 1-55.
Chen, S., Peer, H. (2017). effects in decision-making: Evidence from corporate investment, China Journal of Accounting Research,Volume 10, Issue 2, June 2017, Pages 167-188 open access, https://doi.org/10.1016/j.cjar.2016.11.002.
Choudhary, P., Merkley, K., Schipper, K. (2020). (First Version: October 2020- This Version: July 2020), The Last Chance to Improve Financial Reporting Reliability: Evidence from Recorded and Waived Audit Adjustments. 1-60.
David, R. (2017). Contribution of records management to audit opinions and accountability in government. South African Journal of Information Management, 19 (1), 1-14. https://doi.org/10.4102/sajim.v19i1.771
Debnath, N,. Chowdhury, S,. Khan, S. (2022), "The impact of audit quality on real earnings management: evidence from Bangladesh", International Journal of Disclosure and Governance, https://doi.org/10.1057/s41310-021-00137-x
Defond, M.L., T.J. Wong, and S.H. Li. (2000). The impact of improved auditor
independence on audit market concentration in China. Journal of Accounting and Economics 28 (3): 269-305.
Dibrova, A. (2015). Business angel investments: risks and opportunities, 11th International Strategic Management Conference 2015 Procedia - Social and Behavioral Sciences 207, 280-289, https://doi.org/10.1016/j.sbspro.2015.10.097.
Du, J., Li, W., Lin, B., Wang, Y. (2018). Government integrity and corporate investment efficiency, China Journal of Accounting Research, Publisher: Elsevier. Date: September 2018, http://dx.doi.org/10.1016/j.cjar.2017.03.002, 1-20.
Ershova, N. (2017). Investment climate in Russia and challenges for foreign business: The case of Japanese companies, Journal of Eurasian Studies, https://doi.org/10.1016/j.euras.2017.03.001, Journal of Eurasian Studies 8, 151–160.
Francis J, Micheal S. A. (2007). re-examination of the persistence of accruals and cash flows. Journal of Accounting and Economics/ 43: 45-413.
Ghaemi, H., Ghiyasvand, M., Tojaki, M. (2011). "The effect of earnings smoothing on stock returns of companies listed on the Tehran Stock Exchange", Journal of Accounting and Auditing Reviews, Volume 10, Number 33, pp. 131-150, https://www.sid.ir/fa/journal/viewpaper.aspx? ID=3871, (in Persian)
Gipper, B., Luzi Hail, L., Leuz, Ch. (2018). On the Economics of Audit Partner Tenure and Rotation: Evidence from PCAOB Data*.
Hasseh Yaganeh, Y., Tavakolnia, A, (2021). "Investigation of the relationship between the quality of financial reporting and investment in fixed assets and the moderating role of growth opportunities", Financial Accounting and Audit Research Juornal, 13th year, number 49, spring 2021, pp. 97-118, (in Persian)
Hewitt, M., Hodge, Frank D. Pratt, Jamie H.(2014). How the Discovery of Accruals-Based vs. Real Earnings Management Affects Investment Decisions.1-49, Available at SSRN: http://ssrn.com/abstract=2245204 or http://dx.doi.org/10.2139/ssrn.2245204.
Hewitt, M., Hodge, Frank D., Pratt, Jamie H.(2015). How Suspicions of the Method of Earnings Management and Its Underlying Motive Affect Investors’ Trust in Managers and Willingness to Invest in the Firm.1-52, Available at SSRN: http://ssrn.com/abstract=2245204 or http://dx.doi.org/10.2139/ssrn.2245204.
Holowczak, R., Louton, D., Saraoglu, H.(2019). Testing market response to auditor change filings: A comparison of machine learning classifiers, The Journal of Finance and Data Science Volume 5, Issue 1, Pages 48-59, https://doi.org/10.1016/j.jfds.2018.08.001.
Instructions of the trusted auditing institues of the Stock Exchange Organization, approved by the meeting on 2007/08/05 and the amendments dated 2011/11/17 and 2012/04/31 of the Supreme Council of the Stock Exchange and Securities, (in Persian)
Iranian Society of Certified Public Accountants Website (2022), (in Persian)
Kazmi, A., Naaranoja, M., Kantola, J.(2016). Reviewing Pakistan’s investment potential as a foreign investor, 12th International Strategic Management Conference, ISMC 2016, 28-30 October 2016, Antalya, Turkey, https://doi.org/10.1016/j.sbspro.2016.11.037, Procedia - Social and Behavioral Sciences 235 ( 2016 ) 611 – 617.
Kevin, C., Chen, T., Han, W., and Yuan, H. (2021).”Auditors Under Fire: The Association between Audit Errors and the Career Setbacks of Individual Auditors”. Available at SSRN: https://ssrn.com/abstract=3898922 or http://dx.doi.org/10.2139/ssrn.3898922
Khajavi, Sh., Nazemi, A. (2005). "Study of the relationship between earnings and stock returns with emphasis on the role of accruals in the Tehran Stock Exchange", Journal of Accounting and Auditing Reviews, Volume 12, Number 40, pp. 37-60, https://acctgrev.ut.ac.ir/article-10476.html, (in Persian)
Lai, K. (2009). Does audit quality matter more for firms with high investment opportunities? School of Accounting and Finance, The Hong Kong Polytechnic University, Hung Hom, Hong Kong J. Account. Public Policy 28 (2009) 33–50 journal homepage: www.elsevier.com/locate/jaccpubpol/ Electronic copy available at: http://ssrn.com/abstract=SSRN-id296899.
Law on the Use of Professional and Professional Services of Competent Accountants as Certified Public Accountants (approved on December 12, 1993 and amended on February 6, 1993 by the Islamic Consultative Assembly), (in Persian)
Lee, K., Menon, R. (2022). “Regulatory Enforcement, Internal Control Disclosures and Audit Quality”. Available at SSRN: https://ssrn.com/abstract=4025251 or http://dx.doi.org/10.2139/ssrn.4025251
Lennox, C., Wu, X., Zhang, T. (2016). The effect of audit adjustments on earnings quality: Evidence from China. Journal of Accounting and Economics 61:2-3, 545-562.
Linck, J., Netter, J., Shu, T. (2013). “Can Managers Use Discretionary Accruals to Ease Financial Constraints? Evidence from Discretionary Accruals Prior to Investment” / Electronic copy available at: http://ssrn.com/abstract=SSRN-id1573147. 1-52.
López-Gutiérrez, C., Sanfilippo-Azofra, S., Torre-Olmo, B. (2015), Investment decisions of companies in financial distress, Business Research Quarterly BRQ (2015) 18, 174-187, https://doi.org/10.1016/j.brq.2014.09.001.
Louis, K., Chan, C., Hamao, Y., Lakonishok, J. (1991). “Fundamentals and Stock Returns in Japan”, Journal of Finance, 1991, Vol. 46, issue 5, 64-1739.
Marfoo, M., Hasanzadeh Diva, M. (2019). "Profit Management; Opportunistic Behaviors, Supervisory Mechanism and Financial Helplessness", Financial Accounting and Audit Research Juornal, 12th Year, Number 48, Winter 2019, pp. 43-70, (in Persian)
Michael, E., Elizabeth, E., Chan, Li. (2014). "Fee pressure and audit quality". Accounting Organizations and Society, Volume 39, Issue 4, 247–263. https://doi.org/10.1016/j.aos.2014.04.002.
Norton, S. (2018). Suspicion of money laundering reporting obligations: Auditor compliance, or sceptical failure to engage?, journal homepage: www.elsevier.com/locate/cpa, Critical Perspectives on Accounting 50 (2018) 56–66, http://dx.doi.org/10.1016/j.cpa.2017.09.003.
Peterson, O Thankom, A.(2018). Income smoothing among European systemic and non-systemic banks, The British Accounting Review, Volume 50, Issue 5, September 2018, Pages 539-558, https://doi.org/10.1016/j.bar.2018.03.001.
Rahmina, L., Agoes, S. (2014). International Conference on Accounting Studies 2014, ICAS 2014, 18-19 August 2014, Kuala Lumpur, Malaysia, "Influence of auditor independence, audit tenure, and audit fee on audit quality of members of capital market accountant forum in Indonesia", Available online at www.sciencedirect.com, Procedia - Social and Behavioral Sciences 164 (2014) 324 – 331.
Riahi Balkoui, A. (2013). Accounting Theories, Volumes 1 and 2, translated by Parsaiyan, A, Cultural Research Office Publications, pp. 528, 530, 645, 95, (in Persian)
Sarwokoa, I., Agoes, S. (2014). International Conference on Accounting Studies 2014, ICAS 2014, 18-19 August 2014, Kuala Lumpur, Malaysia "An empirical analysis of auditor’s industry specialization, auditor’s independence and audit procedures on audit quality: Evidence from Indonesia", Available online at www.sciencedirect.com, Procedia - Social and Behavioral Sciences 164 (2014) 271 – 281.
Scalera, F., Žáková Talpová, S. (2014). International recession and MINTs development: An investment opportunity to relaunch Italian companies?. 10th International Strategic Management Conference. Available online at www.sciencedirect.com. 1877-0428 © 2014 The Authors. Published by Elsevier Ltd. This is an open access article under the CC BY-NC-ND license, (http://creativecommons.org/licenses/by-nc-nd/3.0/). Peer-review under responsibility of the International Strategic Management Conference. doi: 10.1016/j.sbspro.2014.09.141, ScienceDirect, Procedia - Social and Behavioral Sciences 150 (2014) 1248 – 1259.
Sharif, S. (2016). Investment Opportunity Set, Corporate Governance Practices and Performance of Modarabas (July 23, 2016). Available at SSRN: http://ssrn.com/abstract=2817821 or http://dx.doi.org/10.2139/ssrn.2817821. 1-16.
Shoorvarzi, M., Azadvar, I. (2010). "Analysis of the Relationship Between Investment Opportunities and Corporate Performance" Journal of Management Accounting, Year 3 / Issue 6 / Fall 2010, PP. 13, 23, https://jma.srbiau.ac.ir/article-4696.html, (in Persian)
Sidney, C., Leung, M., Srinidhi, B., Lingmin, X. (2017). ”Audit Tenure, Information Asymmetry and Earnings Quality”, Electronic copy available at: https://ssrn.com/abstract = 2941949, 1-54.
Wilkinson & Clements. (2010). “Do Leverage, Dividend Payout, and Ownership Concentration Influence Firms’ Value Creation?” Emerging Markets Finance & Trade / May–June 2010, Vol. 46, No. 3, pp. 80–94.