The Effect of Managers' Ability on The Relationship Between the Quality of Accounting Information and Investor Behavior and Trading Performance
Subject Areas :
kevan azizi
1
(
Master of Accounting, Department of Accounting, Kabir Gharb Non-Profit University, Kermanshah, Iran
)
farzad eivani
2
(
Assistant Professor, Department of Accounting, Department of Accounting, Razi University, Kermanshah, Iran
)
hadis abdi
3
(
Master of Accounting, Department of Accounting, Razi University, Kermanshah, Iran
)
Seyed Javad Dellavari
4
(
Department of Accounting, Faculty of Accounting, Razi University, Kermanshah, Iran
)
Keywords: Financial ratios, ability of managers, Keywords: Accounting Information, Investor Behavior And Trading Performance,
Abstract :
AbstractIn the behavioral financial paradigm, the human hypothesis as a rational being that always succeeds in optimizing its interests is questioned. Proponents of behavioral finance know that the knowledge of "psychological inclinations" in the field of investment is absolutely necessary and requires serious development of the field of study. Accordingly, the purpose of this study was to investigate the relationship between financial ratios as a measure of accounting information on the pattern of behavior and trading performance of investors and also to investigate the effect of managers' ability on this relationship. In order to achieve the research goal, 105 companies were selected from the companies listed on the Tehran Stock Exchange, by systematic elimination method and tested using EViews and Stata software. The results of testing the hypotheses have shown that among the components of financial ratios; There was a significant relationship between current ratio, current ratio, gross profit ratio, total debt to equity ratio, total debt to total assets ratio, return on assets ratio and earnings per share ratio with investors' trading behavior and performance. The present results showed that in the content of accounting information, especially using some financial ratios, investors' trading behavior and performance can be predicted. On the other hand, the findings indicate a significant effect of managers' ability on the relationship between financial ratios (current ratio, instantaneous ratio, gross profit ratio and earnings per share ratio) and the trading behavior and performance of investors.
فهرست منابع
_||_