بررسی نقش میانجی قابلیت مقایسه صورت‌های مالی بر رابطه بین رفتارهای فرصت‌طلبانه مدیران و واگرایی عقاید سرمایه‌گذاران
الموضوعات : پژوهش های مالی و رفتاری در حسابداری
محسن توحیدلو
1
,
علی بیات
2
,
علی محمدی
3
,
وهاب رستمی
4
1 - دانشجوی دکتری، گروه حسابداری، واحد زنجان، دانشگاه آزاد اسلامی، زنجان، ایران
2 - استادیار، گروه حسابداری، واحد زنجان، دانشگاه آزاد اسلامی، زنجان، ایران
3 - استادیار، گروه حسابداری، واحد زنجان، دانشگاه آزاد اسلامی، زنجان، ایران
4 - استادیار، گروه حسابداری، واحد زنجان، دانشگاه آزاد اسلامی، زنجان، ایران
الکلمات المفتاحية: قابلیت مقایسه صورت‌های مالی, واگرایی رفتار سرمایه‌گذاران, مدیریت سود, بیش اطمینانی مدیران,
ملخص المقالة :
باورها و گرایش‌های احساسی سرمایه‌گذاران می‌تواند با ایجاد تغییر در فضای بازار سرمایه بر جهت‌گیری حجم معاملات و قیمت بازار سهم تأثیرگذار باشد. این مقاله نقش میانجی قابلیت مقایسه صورت‌های مالی بر رابطه بین رفتارهای فرصت‌طلبانه مدیران و واگرایی عقاید سرمایه‌گذاران را مورد بررسی قرار داده است. این پژوهش به صورت پس رویدادی و با استفاده از روش همبستگی علی انجام‌شده است. شرکت‌های پذیرفته‌شده در بورس اوراق بهادار تهران، جامعه آماری پژوهش را شکل داده و با اعمال شرایط مورد نظر و به صورت حذف نظامند از اطلاعات134 شرکت به عنوان نمونه پژوهش در دوره زمانی بین سال‌های 1392 الی 1401 استفاده شده است. برای محاسبه واگرایی رفتار سرمایه‌گذاران از شاخص حجم معاملات غیرمنتظره استفاده شده و رفتارهای فرصت‌طلبانه مدیران به وسیله دو عامل مدیریت سود واقعی و بیش اطمینانی مدیران در تصمیم گیری مورد سنجش قرارگرفته است. نتایج حاصل از آزمون فرضیه‌های پژوهش نشان داد مدیریت سود و بیش اطمینانی مدیریت در تصمیم گیری، رابطه مستقیم و معناداری با واگرایی رفتار سرمایه‌گذاران دارد. همچنین قابلیت مقایسه صورت‌های مالی، رابطه مثبت میان مدیریت واقعی سود و بیش اطمینانی مدیریت بر واگرایی رفتار سرمایه‌گذاران درباره تعیین رقم صحیح ارزش ذاتی سهام حین اخذ تصمیم سرمایه‌گذاری را تعدیل می‌کند.
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