بررسی تاثیر مازاد جریان نقدی آزاد بر مدیریت سود در شرکت‌های صنایع غذایی پذیرفته شده در بورس اوراق بهادار تهران
محورهای موضوعی : فصلنامه علمی -پژوهشی تحقیقات اقتصاد کشاورزیمحمد کاوسی کلاشمی 1 , پریسا خلیق خیاوی 2
1 - استادیار گروه اقتصاد کشاورزی، دانشکده علوم کشاورزی، دانشگاه گیلان.
2 - دانشگاه آزاد اسلامی واحد رشت، ایران.
کلید واژه: شرکت های صنایع غذایی, الگوی تعدیل شده جونز, اقلام تعهدی اختیاری, داده های ترکیبی,
چکیده مقاله :
هدف این پژوهش، بررسی تاثیر مازاد جریان نقدی آزاد بر مدیریت سود در شرکت های صنایع غذایی پذیرفته شده در بورس اوراق بهادار تهران است. جامعه آماری تحقیق شامل شرکت های صنایع غذایی پذیرفته شده در بورس اوراق بهادار تهران طی دوره زمانی 94-1389 می باشد که با استفاده از الگوی رگرسیونی داده های ترکیبی مورد مطالعه قرار گرفت. نتایج تجربی نشان داد که ارتباط مثبت و معنی دار آماری بین مازاد جریان نقدی آزاد با مدیریت سود وجود دارد. همچنین، نتایج مربوط به متغیرهای اهرم مالی، جریان نقدی نسبی و ارزش مطلق کل اقلام تعهدی نشان داد که متغیرهای مذکور به لحاظ آماری، رابطه ی مثبت و معنی داری با متغیر مدیریت سود دارند، این در حالیست که رابطه ی منفی و معنی داری به لحاظ آماری بین متغیر اندازه ی شرکت با مدیریت سود وجود دارد. همچنین در بین متغیرهای مورد بررسی، متغیر جریان نقدی نسبی بیشترین و متغیر ارزش مطلق کل اقلام تعهدی کمترین اثر مثبت را بر روی مدیریت سود داشتند.
The purpose of this study is to investigate the impact of surplus free cash flow on earnings management of food industry companies listed on the Tehran Stock Exchange. The study community consisted of all food industry companies listed in Iranian stock exchange during 2009-2014 which were studied using the panel data. Empirical results showed there is a positive and statistically significant relationship between surplus free cash flow to earnings management. Also, the results of leverage, relative cash flow and absolute total-accruals variables showed that these variables had a positive and significant relationship with earnings management variable, while there is a negative and significant statistical relation between firm size variable and earnings Management. Among the variables studied, the relative cash flow was the highest and the absolute total-accruals had the least positive effect on earnings management.
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