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Open Access Article
1 - Identification and Refinement of Effective Factors of Financial Reporting Transparency of Firms Listed on Iran Stock Exchange
Hosein Moghadam Zahra Lashgari Negar Khosravipour Gholamreza Farsad Afsaneh TavangarThis study aimed to identify effective factors of financial reporting transparency (FRT) of companies using knowledge analysis and selected the final effective factors from them using the ANP analytic network process. In this regard, 16 professors and pundits in financi MoreThis study aimed to identify effective factors of financial reporting transparency (FRT) of companies using knowledge analysis and selected the final effective factors from them using the ANP analytic network process. In this regard, 16 professors and pundits in financial and reporting areas were selected as the experts. Then, these factors were assessed, refined, and categorized in three survey stages using Delphi method. First, 20 factors were extracted from the literature review based on the knowledge and content analysis: institutional ownership, independence of the board of directors, the lack of ownership concentration, size of the board of directors, information quality, information accuracy, profit fluctuation, sales margin, return on assets, return on investment, asset turnover, company value, competition, age of company, size of company, technology, current ratio, quick ratio, cash flow and asset liquidity. Further, the identified factors were categorized, assessed and refined based on the survey results from the experts’ opinions using Delphi and ANP analytic network process methods. Results showed following 10 out of 20 factors, identified using the content and knowledge analysis, as the effective factors of FRT: institutional ownership and independence of the board of directors (corporate governance mechanisms), information accuracy and profit fluctuation (financial analysis), return on assets and return on investment (financial performance), competition and age of company (environment), and cash flow and asset liquidity (liquidity). Manuscript profile -
Open Access Article
2 - Using A Multivariate Statistical Method of Factor Analysis and Grounded Theory to Review the Theory of Agency in Developing Countries (A Case Study of Iran)
Mirza Mohammadi Rahmatollah Mohammadi pour Ghodratallah Talebnia Negar KhosravipourThe asymmetry of information between managers and shareholders significantly affects the company's investment decisions and exacerbates the problems of agency. It seems that these problems in developing markets such as Iran are more than developed markets. This research MoreThe asymmetry of information between managers and shareholders significantly affects the company's investment decisions and exacerbates the problems of agency. It seems that these problems in developing markets such as Iran are more than developed markets. This research is an exploratory study, and it aims at reviewing the theory of agency in Iran. In the present study, based on the research paradigm, first, data acquisition strategy is selected based on a qualitative approach, and then qualitative study and analysis, quantitative approach, and factor analysis approach have been used to confirm the validity of the extracted model. Statistical analysis of research data shows that among the hypotheses of agency theory, risk aversion, supervision, and reward are revised dimensions in Iran like examples of developing countries.The results confirm the existence of assumptions; 1. Conflict of interests of manager and owner, 2. Information asymmetry, 3. Reverse choice, 4. Ethical risk, 5. Maximizing the expected utility, 6. Forcing and 7. Failure to confirm the assumption is the ability to predict the future and receive information. due to the existence of information asymmetry, higher investment risks of minority shareholders and transparency problems, the lack of ability to predict the future and receive information is necessarily confirmed. Manuscript profile
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