Evaluate the performance of the Iranian capital market with an emphasis on the perspective of financial accountability, operational accountability and learning and growth
Subject Areas : Investments
1 - Department of Accounting, Zahedan Branch, Islamic Azad University, Zahedan, Iran.
Keywords: Performance Evaluation, financial accountability, operational accountability and learning and growth,
Abstract :
Evaluating the performance of the Iranian capital market is one of the important issues for users (investors). The most important users are the general public. Assessing capital market performance and reassuring users will maximize capital attraction and boost production. Iran's capital market will be responsible for performing the duties of protecting the rights of users. Articles 51 to 55 of the Constitution address the areas of responsibility for financial accountability and the legal right of citizens to know the facts. The purpose of this study is to evaluate the performance of the Iranian capital market by emphasizing the perspective of financial accountability, operational accountability, learning and growth. The present study is descriptive-survey in terms of applied purpose and data collection and its statistical population consists of auditors, brokers, managers of financial institutions and faculty members of the university who work in the capital market. The research sample is based on Cochran's method and using Morgan table, 290 people, and the research period is 1399. In this research, a researcher-made questionnaire has been used, the validity and reliability of which has been determined by obtaining the opinion of professors, professional experts and capital market experts. SPSS software and t-test were used to test the research hypotheses. The results show that the indicators and components of capital market performance evaluation are evaluated with emphasis on financial accountability perspective, operational accountability perspective and the perspective of optimal learning and growth.
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Azar, A. and M. Momeni (2004). Statistics and its Application in Management, 3rd Edition, Tehran: Samt. (In Persian)
Babajani, Jafar (2007). Accounting and Financial Controls. Allameh Tabataba'i University Press, Fifth Edition. (In Persian)
Babajani, Jafar, Ebadi, Javad, Moradi, Nasrin. (2015). Investigating Mass Behavior in Mutual Funds in Tehran Stock Exchange. Empirical Studies in Financial Accounting, 12 (47): 47-71. doi: 10.22054 / qjma.2015.2536.(In Persian)
Babajani, Jafar (2010). Benefits of Performing Performance Audit in the Country and Its Role in Accountability, Proceedings of the Conference on Performance Auditing, Accountability and Productivity Promotion, First Edition, 16-46. (In Persian)
Bagheri, Zahra, Safaei, Nasser. (2016). Strategic human resource planning based on the BSC model. Human resource management research, 3 (8): 159-181. (In Persian)
Barrados, M & Mayne, J & Willeman, T, (2000), "Accountability For Collaborative Programe Delivery Arrangement In Canada`s Federal Government: Some Consequences Of Government", International Review Of Administrative Sciences, (66): 495-511.
Bovens, M. (2005), " Public Accountability. In E. Ferlie, L. Lynne And C. Pollit (eds.)", The Oxford Handbook Of Public Management,PP.l-33, Oxford: Oxford University Press.
Chen, Y., Knechel, R., Marisetty, V., Truong, C., and Veeraraghavan, M. (2017). Board independence and internal control weakness: Evidence from SOX 404 Disclosures. Auditing: A Journal of Practice & Theory, 36 (2): 45–62.
Dhaliwal, D., Naiker, V. & Navissi, F. (2010). The association between accruals quality and the characteristics of accounting experts and mix of expertise on audit committees. Contemporary Accounting Research, 27(3), 787–827.
Ebrahimi Kordler, Ali,. Hassan Beigi, Ali,. Ghousi Kanari, Mohammad. (2018). Investigating the effect of internal control weaknesses on company performance and value. Knowledge of Financial Accounting, 5 (18): 45-68. (In Persian)
Governmental accounting standards board (GASB), 1987, objectives of financial Reporting, concepts statement no, 1,Stamford.
GolAlizadeh, F, Zahra,. Bagherpour V, Mohammad Ali,. Noghani, Mohsen. (2016). The effect of implementing internal control instructions on the level of trust of users of financial statements. Management Accounting and Auditing Knowledge, 5 (18): 63-81. (In Persian)
Gholipour, Rahmatullah & Tahmasebi Ashtiani, Mojtaba. (2006). “Analysis of the relationship between public accountability and outsourcing in public organizations, case study”. Management Culture, (12): 113-149. (In Persian)
Hedayati Zafarghandi, Mohammad. (2017). The role and function of the Court of Audit in the implementation of financial supervision. International Journal of Nations Research, 2 (18): 45-60. (In Persian)
Heritage, H. (2007). The American Heritage College Dictionary, 4th Edition, American: Houghton Mifflin Har Court (HMH) Publication.
Huang, H., Lobo, G., Wang, C., Xie, H. (2016). Customer concentration and corporate tax avoidance. Journal of Banking and Finance, 72 (4): 184–200.
Ijiri, yuji, on the accountability-based conceptual frame- work, journal of accounting and public, 2, 75 – 1983, Elsevier Service publishing co, inc.
Jayal, Niraja Gopal, (2008), "New Directions In Theorizing Social Accountability". IDS Bulletin, 38 (6): l05-110.
Ji, Xu-dong & Lu, Wei & Qu, Wen, 2017. "Voluntary Disclosure of Internal Control Weakness and Earnings Quality: Evidence From China." The International Journal of Accounting, Elsevier, 52(1): 27-44.
Klein, A. (2002a), ‘Audit committee, board of director characteristics, and earnings management’. Journal of Accounting and Economics, 33 ( 3): 375–400.
Kline, R. B. (1998). Principles and Practice of Structural Equation Modeling, 1st Edition, New York: Guilford Press.
Kirsch, L. J (2002). Developing Common System Globally: The Dynamics of Control Infrastructure, Information Systems Research, (15): 154 -167.
March, J.G & Olsen, J.P. (1995). Democratic Governance. New York: Free Press.
Madani, Javad Zarandi & Saeed. Abdollahi & Mohammad Reza (2018). “Analysis of the effect of public accountability on the policy of promoting administrative health and organizational transparency in the public sector (Case study: Ministry of Industry, Mine and Trade of the Islamic Republic of Iran)”Iranian Journal of Public administration Mission, 9 (2): 23-41. (In Persian)
Mahdavi, Gh. and M. H. Maher (2013). “The Examination of Managers’ Attitudes toward the Quality of Financial Reports (Case Study: Fars Province University of Medical Sciences)”, Journal of Health Accounting, 2(1): 78-96. (In Persian)
Mahdavi, Gholam Hossein, Namazi, Navid Reza. (2012). Investigating the Attitudes of Academics and University Accountants Towards the State of Public Accounting in Iranian Universities (Case Study: Shiraz Universities). Accounting Advances, 11(4): 137-166. (In Persian)
Mahdavi, Gholam Hossein (2000). Government Accountability and Accounting System in Iran, Auditor Quarterly, (7), 38-43. (In Persian)
Moeller, R.R. (2014). Executive’s guide to COSO internal controls, United States: Wiley.
Mulyadi, Martin., Anwar, Yunita., Ikbal, Muhammad. (2012). The Importance of Corporate Governance in Public Sector. Global Business and Economics Research Journal, 1 (1): 25-31.
Nasehifar, Vahid, Amiri, Maghsoud, Mubarakabadi, Houshang. (1397). Components of human resource development of small and medium organizations (SMEs) to achieve better performance. Human resource management research, 3 (10): 25-46. (In Persian)
Najafi, Ruhollah,. alum miner, Mehdi,. Fallah Shams, Mirfeiz,. Saeedi, Ali. (2020). A comparative study of the structure and pattern of supervision of financial institutions in the capital market of Iran and selected countries. Investment Knowledge, 9 (36), 451-488. (In Persian)
noori, Zahra & Jamshidi Navid, Babak. (2013). “Impact of culture on transparency of financial reporting and promotion &of accountability level in medical and medical universities”. Health Accounting, 2 (3): 68-89. (In Persian)
Piot, Ch. (2004). The existence and independence of audit committees in France. Accounting and Business Research, 34(3), 23–46.
Ryan, Christine., Ng, Chew., (2000). Public Sector Corporate Governance Disclosures: An Examination of Annual Reporting Practices in Queensland, Australian Journal of Public Administration, 59(2): 11-23.
Stock Exchange and Securities Organization. (2012). Instructions for internal controls of issuers listed on the Tehran Stock Exchange and OTC, Tehran. (In Persian)
