The designing and presentation a model of the use of power resources in measuring the performance of mutual funds and the quality of financial reporting

Subject Areas : Journal of Investment Knowledge

mahnaz iravani ¹ , mir feiz fallah shams ² , Fraydoon Rahnamay Roodposhti ³ , mohammadhamed Khanmohammadi ⁴ , Zohreh Hajiha ⁵

1 - Department of Accounting, Qeshm Branch, Islamic Azad University, Qeshm, Iran
2 - Associate Professor of Financial Management, Central Tehran Branch, Islamic Azad University, Tehran, Iran
3 - Professor and retired faculty member of Islamic Azad University, Science and Research Founding member and secretary general of the Financial Engineering Association And chairman of the Iranian Management Accounting Associationhead, Tehran, Iran
4 - Assistant Professor of Accounting, Damavand Branch, Islamic Azad University, Tehran, Iran
5 - Associate Professor of Accounting, East Tehran Branch, Islamic Azad University, Tehran, Iran

Received: 2021-11-03 Accepted : 2022-01-02 Published : 2023-06-22

Keywords: Net Asset Value (NAV), Financial Reporting, Mutual fund performance, Managers Power,

Abstract :

The efficiency and effectiveness of any organization significantly depend on the management and proper use of human resources. Managers may also contribute to the promotion of productive activities and the efficiency of financial markets by increasing the return on portfolio and subsequently attracting liquidity in the country's economy. The present study aims to investigate the sources of power on the performance of mutual funds and the quality of financial reporting. This research is correlational in nature and content. In this research, a sample of 66 mutual funds was reviewed from March 2020 to March 2021 in Tehran Stock Exchange. The results of this study showed that the power of managers affects the performance of mutual funds and the quality of financial reporting, also the performance of the company may be a mediating variable in the relationship between the power of managers and the quality of financial reporting.

References:

• استیفن پی. رابینز، مترجم: پارسیان، علی؛ اعرابی، سید محمد (1396). رفتار سازمانی. جلد دوم. انتشارات دفتر پژوهش­های فرهنگی


• پورقاز، عبد الوهاب محمدی، امین (۱۳۹۰). بررسی رابطه منابع قدرت مدیران با ویژگی های شخصیتی کارآفرینی کارکنان، پژوهش های مدیریت عمومی، دوره ۴، شماره ۱۲: ۱۳۰-۱۱۱.


• عربصالحی، مهدی و اخلاقی، حسنعلی، (1391)، تأثیر فرصتهای سرمایه­گذاری، منابع تأمین مالی و مالیات بر خط مشی مستقیم سود شرکتهای پذیرفته شده در بورس اوراق بهادار تهران، فصلنامه بورس اوراق بهادار، شماره 16


• عزیزی، طاهره ، فکوری، الیاس (1390). بررسی نقش معیارهای سنجش عملکرد در ایجاد ارزش برای شرکت. مجله حسابدار، شماره 208 و 209 ، ص 44 - 49 .


• قالیباف اصل، حسن؛ پورداداش مهربانی، نازیلا؛ دهقان نیری، لیلا (1394). " بررسی رابطه میان ریسک گریزی مدیران و عملکرد نهادهای مالی در بازار سرمایه"، مجله راهبرد مدیریت مالی، سال سوم، شماره دهم. ص.1-23


• قربانی، بهزاد؛ فروغی، داریوش؛ امیری، هادی و هاشمی، سیدعباس، (1391)، کیفیت تحلیل اوراق بهادار، سال ششم، شماره هفدهم گزارشگری مالی و نوسان بازده غیرمتعارف سهام، فصلنامه علمی پژوهشی دانش مالی


• لاری دشت بیاض، محمود؛ بهمنش، محمدرضا؛ فاطمی، محبوبه (1396). "ارزیابی عملکرد مدیران شرکتهای سرمایه­گذاری در بورس اوراق بهادار تهران"، مجله مدیریت بهره­وری، سال یازدهم، شماره چهل و سه. ص.171-186


• ملاحسینی، علی؛ کهنوجی، کبری؛ "بررسی منابع پنجگانه قدرت مدیران با تعهد کارکنان در سازمانهای دولتی شهرستان رفسنجان"، مجله توسعه و سرمایه (پاییز و زمستان 1386)، ص.117-132


• منتشری، مهدی،(3154)، نقش کیفیت گزارشگری مالی در کاهش آثار محدود کننده تقسیم سود بر تصمیمات سرمایه­گذاری، همایش مدیریت، اقتصاد، حسابداری و علوم تربیتی


• نیکبخت، محمدرضا و ابراهیمی، مهرداد (1391) بررسی تأثیر کیفیت گزارشگری مالی نقدشوندگی سهام شرکتهای پذیرفته شده در بورس اوراق بهادار تهران، پژوهشهای تجربی حسابداری مالی، شماره 5


• Chen, J. ., Zavgren C.V. (2017). Developing SFNN models to predict financial distress of construction companies. Expert Systems with Applications, (39), 823–82.


• , D.W (2017), Valuation Implications of Reliability Differences: The Case of Nonpension Postretirement Obligations, The Accounting Review72(3): 351-383.


• Dechow, P.M., Decho, R.G.. (2002), Detecting earnings management,The Accounting review, 70(2): 193-225


• Donald Line C. (2005). Mutual Fund Performance. Master Thesis, Ulm University, Faculty of Mathematics and Economics.


• Ferreira, J., R. Schipper., P. and Ramos., K.. (2015). “The Market Pricing of Accruals Quality”. Journal of Accounting and Economis. 39. pp 259-327


• Graham, J. Edward, Lassala, Carlos, and Navarrete, Belen Ribeiro. (2020). Influences on mutual fund performance: comparing US and Europe using qualitative comparative analysis. ECONOMIC RESEARCH. VOL. 33, NO. 1, 3049–3070


• Golden, H., and Carpenter, N., 2014. A genetic algorithm approach for smes bankruptcy prediction: Empirical evidence from italy. Expert Systems with Applications 41 (14), 6433–6445.


• Hagen, N. (2004), “Financial Distress and Bankruptcy Prediction among Listed Companies Using Accounting, Market and Macroeconomic Variables”, International Review of Financial Analysis, In Press, Available online 26 February


• Hep, W. K., Miskel. C. G. (2011). Educational Administration, theory, research, and practice, 8 Th Ed, New York: McGraw Hill


• Hess, C. W., & Wagner, B. T. (1999). Factor structure of the Rahim Leader Power Inventory (RLPI) with clinical female student supervisee. Educational & Psychological Measurement, 59, 1004-1016.


• Kaawaase, Twaha Kigongo, Nairuba, Catherine, Akankunda, Brendah and Bananuka, Juma. (2021). Corporate governance, internal audit quality and financial reporting quality of financial institutions. Asian Journal of Accounting Research Vol. 6 No. 3, pp. 348-366


• Karen, P.D. (2017). Earnings management and investorprotection: An international comparison. Journal of Financial Economics, 69, pp. 505-527.


• Kashal, E. (2018). IPO survival and CEOs’ decision-making power: The evidence of China. Research in International Business and Finance, 33, 247-267.


• Kornchai PHORNLAPHATRACHAKORN1, Khajit NA KALASINDHU. (2021). Digital Accounting, Financial Reporting Quality and Digital Transformation: Evidence from Thai Listed Firms. Journal of Asian Finance, Economics and Business Vol. 8, No. 8 , 0409–0419


• Kumar, S., Jebarajakirthy, C.and Das, M. (2021), "Building trust among channel members via power sources", Journal of Business & Industrial Marketing, Vol. ahead-of-print No. ahead-of-print. https://doi.org/10.1108/JBIM-04-2021-0210


• Kurpi, M. (2004). »A Comparison of the Information Content of Accounting and Market Measures in Distress Prediction«. INFINITI Conference on International Finance.


• Lam, S. S. K. (1997). Validity and reliability of the Rahim Leader Power Inventory: An investigation in Hong Kong. International Journal of Management, 14, 643-645.


• Li, S. S. K. (2008). Validity and reliability of the Rahim Leader Power Inventory: An investigation in Hong Kong. International Journal of Management, 14, 643-645.


• Li, H., Sun, J., 2009. Predicting business failure using multiple case-based reasoning combined with support vector machine. Expert Systems with Applications 36 (6), 10085–10096.


• Maheen, Muhammad Sali. (2021) Impact of COVID-19 on the performance of emerging market mutual funds: evidence from India. Future Business Journal


• McDonald H. (2016). The Effective Use of Power, in Management for Science and Engineering, fall, 2003, Revited at: http:python.rice.edu/-arb/courses/750_03_chapt8.pdf, Apr. 2010.


• Nangih, E., Wali, S. C., & Anyanwu, P. O. (2021). Accounting policies, management judgements and financial reporting quality of small and medium enterprises in Nigeria: A survey. International Journal of Finance Research. 2(2). 58-70.


• Rahim, M. A. (1944). The development of a leader power inventory. Multivariate Behavioral Research, TT, 291


• Rahim, M.A., & Magner, M. R. (1996). Confirmatory factor analysis of the bases of leader power: First-order factor model and its invadance across groups·. Multivariate Behavioral Research, 31, 495-516.


• Rahim, M.Afzalur,(2014),” A Model of Managerial Power Bases: Alternative Explanations of Reported Findings”, Current Topics in, Management, Vol. 17,23-40


• Savolainen, R. (2021). Expert power as a constituent of opinion leadership: a conceptual analysis. Information Research, 26(2), [898].


• Sharpe, William F., Alexander, Gordon J. and Bailey, Jeffery V., (1999), Investment, 6th ed., Upper Saddle River.


• Singer, L , A , Jacobi .( 2009) . “Predicting Bankruptcy : Evidence from Israel ”,International Journal of business and Management. Vol 5 , No 4 , pp 131-141


• Srivastava, D., Hopkins, P. & Wahlen, J. (2015). Fair Values, Income Measurement, and Bank Analysts’ Risk and Valuation Judgments. The Accounting Review, 79(2), 453-472


• Strong, B. T. (1999). Factor structure of the Rahim Leader Power Inventory (RLPI) with clinical female student supervisee. Educational & Psychological Measurement, 59, 1004-1016.


• Verdi, Rodrigo (2006). Financial Reporting Quality and Investment Efficiency. Availabe at URL www.ssrn.com


• Yukl G. and Falbe C.M., "Importance of Different Power Sources in Downward and Lateral Relations." Journal of Applied Pasychology (June 1991), p.417