Corporate Governance

Open Access Article

1 - The Impact of Good Corporate Governance on the Relationship between Financial Performance and Sustainability of Companies Listed in Tehran Stock Exchange
abbas yazdani mansoureh aligholi keyvan lolaei

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Open Access Article

2 - Presenting the application model of blockchain technology and business performance management from the perspective of corporate governance
sara yousefzadeh فریدون رهنمای رودپشتی hosein badeei masoud gholamzadeh

The security of recording transactions with the use of blockchain technology and the problems caused by the manipulation of information and documents of companies, caused the literature on the application of blockchain technology to investigate the expected effects of b More

The security of recording transactions with the use of blockchain technology and the problems caused by the manipulation of information and documents of companies, caused the literature on the application of blockchain technology to investigate the expected effects of blockchain on improving corporate governance, or issues such as applications and analyzing the benefits of this technology to be paid in the scope of the company's audit. The purpose of this research is to determine the effect of using blockchain on the performance of companies from the perspective of corporate governance. This research is a cross-sectional data collection in terms of its practical purpose, in terms of time, and a survey in terms of its research implementation method. In this research, according to the purpose and nature of the research, the applied research method is used through structural equation analysis methods. According to the population size of 4000 executive and financial managers of listed companies and Cochran's formula, about 200 valid questionnaires were obtained for analysis. The results showed that the application of blockchain technology can significantly affect the performance of companies, both in the form of financial performance and operational performance. Also, blockchain has a double impact on the relationship between corporate governance and the performance of companies, and the application of blockchain has an increasing impact on improving the relationship between internal control according to the Kuzo framework and the company's performance. Manuscript profile

Open Access Article

3 - The Relationship between Voluntary Disclosure and Financial Performance with Emphasis on Corporate Governance Mechanisms
fahime safikhani Mohammadreza safikhani fatemeh besharatpour

10.30495/jik.2024.23154

The purpose of this study is to investigate the relationship between voluntary disclosure and financial performance of companies and the effect of corporate governance mechanisms on financial performance and also the effect of corporate governance mechanisms on the rela More

The purpose of this study is to investigate the relationship between voluntary disclosure and financial performance of companies and the effect of corporate governance mechanisms on financial performance and also the effect of corporate governance mechanisms on the relationship between voluntary disclosure and financial performance of companies listed on the Tehran Stock Exchange. For this purpose, data related to 98 companies in the period from 2011 -2019 were collected. Multivariate regression was used to investigate the relationships between variables and the combined data method was used to test the hypotheses. Findings show that there is a positive and significant relationship between voluntary disclosure and financial performance of companies. In fact, increasing voluntary disclosure reduces agency problems by reducing information asymmetry between management and investors. As information asymmetry decreases, demand for transactions increases. As demand increases, stock prices rise and the company's financial performance improves. There is also a positive and significant relationship between corporate governance system (internal and external) and financial performance of companies. Companies with better governance mechanisms, narrower price gaps, higher stock quality, have the lowest price-volume impact. These factors lead to the optimal financial performance of the company. The corporate governance system also strengthens the link between voluntary disclosure and corporate financial performance. Good corporate governance promotes transparency and voluntary disclosure. Increasing disclosure reduces information asymmetry and thus improves the company's financial performance. Manuscript profile

Open Access Article

4 - Predict the Financial Limitations of Companies Accepted in Tehran Stock Exchange Using the Relief-Svm-Caiid methods
maryam salmanian hamid reza vakilifard mohsen hamidian fatemeh sarraf Roya darabi

Predict the Financial Limitations of Companies Accepted in Tehran Stock Exchange Using the Relief-Svm-Caiid methodsAbstractDiscussion of financial constraints is one of the key issues facing all companies. Predicting financial constraints is an important phenomenon for More

Predict the Financial Limitations of Companies Accepted in Tehran Stock Exchange Using the Relief-Svm-Caiid methodsAbstractDiscussion of financial constraints is one of the key issues facing all companies. Predicting financial constraints is an important phenomenon for investors, creditors and other users of financial information. This research uses the information of 7 financial years during the period 2012-2017 and using financial information of 213 companies to study the factors affecting financial limitation and its prediction using artificial intelligence algorithm method (backup algorithm classification algorithm and the rule-oriented algorithm Chaid). In the first step, using the Relief Algorithm, among the initial research variables, five variables of the ratio of total operational assets to total assets, the ratio of total debt to the total assets, the kbitwin, the return on sales, and the ratio of institutional owners were selected as important variables in the company's financial constraint, respectively. The results also showed that the three-class support algorithm using selected financial data has the ability to predict future financial constraints with a power greater than 80% and more than the law-governed algorithm.Keywords: financial constraints, Machine learning method, financial variables and corporate governancejel: M41-B26-C63 Manuscript profile

Open Access Article

5 - Ranking Iranian banks according to corporate governance based on banks documents
Ali Mahdavi Parsa Marziyeh Nourahmadi

The aim of this paper is to investigate and analyze the content of documents (including vision, mission, objective, ethic charter and fundamental values) of 36 bank and credit institution operating in the banking system without rabbis from the perspective of corporate g More

The aim of this paper is to investigate and analyze the content of documents (including vision, mission, objective, ethic charter and fundamental values) of 36 bank and credit institution operating in the banking system without rabbis from the perspective of corporate governance in its categories and concept's. In this paper, after reviewing the literature of corporate governance and previous research on this subject , we review and analysis of documents Iranians banks and exploiting  issues related to corporate governance, and assessing importance of this issue in Iranian banks and finally on this basis we ranking Iranian banks. Our research method is content analysis. The results suggest that attention to corporate governance and its implications in the documents Iranian banks is relatively low, Which reflects the significantly lower level of decision-making banks to corporate governance.    Manuscript profile

Open Access Article

6 - Examining the role and position of internal audit on green innovation with an emphasis on bio-investment Environment and corporate governance. (Study case: Tehran Stock Exchange)
rouhollah rahimi Marzieh Ebrahimi Shaghaghi Hossein Eslami

Empirical evidence of recent research shows that internal audit has a positive effect on green innovation of companies. This, in turn, can lead to compatibility with environmental protection and prevent its destruction by companies. While it can improve the company's co More

Empirical evidence of recent research shows that internal audit has a positive effect on green innovation of companies. This, in turn, can lead to compatibility with environmental protection and prevent its destruction by companies. While it can improve the company's competitive advantages through the control system for the company's internal processes, of course, paying attention to this issue can be considered in turn due to the importance and role of internal audit on green innovation, especially considering the position of environmental investment and corporate governance. be taken The research method is of the descriptive correlation type and the statistical population of the present study also included 470 cases from among the companies admitted to the Tehran Stock Exchange in the years 2013 to 2014. Based on the Cochran correlation, the statistical sample of this research has been determined as 211 companies. In this research, structural equation modeling has been used to investigate the relationships between research variables. To test the hypotheses of the research, structural equation method and Lisrel statistical software were used. In general, the research results showed that internal audit has a significant relationship with green innovation. Also, environmental investment and corporate governance also confirm the relationship between them by acting as a mediator. Manuscript profile

Open Access Article

7 - Information Asymmetry with Emphasis on the Role of Financial and Managerial Criteria Based on Fuzzy Logic and Artificial Neural Networks
Mohammad Amir Golshani Mehrdad Ghanbari Babak Jamshidi Navid Forouzan Mohammadi Yarijani

This paper addresses the absence of a suitable criterion for measuring information asymmetry between managers forecasting earnings and analysts forecasting earnings through statistical methods. Besides, this paper aims to provide a model of information asymmetry, emphas More

This paper addresses the absence of a suitable criterion for measuring information asymmetry between managers forecasting earnings and analysts forecasting earnings through statistical methods. Besides, this paper aims to provide a model of information asymmetry, emphasizing the role of financial and managerial criteria. This is applied qualitative and quantitative research (mixed method). The library method is used to prepare and formulate theoretical bases. In addition, the field method is used for collecting data to measure and identify indices and modeling. Factor analysis was used to analyze the data, following identifying the dimensions and variables of financial and managerial criteria of information symmetry to eliminate extraneous factors and classify. The following five main dimensions were determined, including corporate profit forecast, corporate governance, capital market, capital return, and management characteristics of the company. Then, the modeling was done using fuzzy mathematics through triangular numbers, Mamdani implication, and center of gravity methods. The final results of the study of the company listed on the Tehran Stock Exchange show that the level of information symmetry in the range of zero to 100 equals 55.1, to predict the company's profit is 48.54; corporate governance is 56.95; the capital market is 1/59; capital return is 61.07, and managerial characteristics of the company are 67.84. Finally, we examined the factors affecting the information asymmetry obtained from fuzzy neural networks. The findings show a higher prediction accuracy of fuzzy neural network methods than other related prediction methods. Manuscript profile

Open Access Article

8 - The Impact of Effective Corporate Governance on the Relationship between Tax Gap and Future Profit Changes in Iranian Economy
Rasoul Karami Seyed Ali Vaez Ghasem Rekabdar

10.22034/amfa.2020.1895426.1388

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Open Access Article

9 - A Mathematical Model for Measuring Corporate Governance using Multi-Criteria Decision Making (MCDM)Technique
Maryam sadeghi Hossein Panahian Mehdi Safari Gerayli Meysam Arabzadeh Rahman Saedi

10.22034/amfa.2021.1920820.1548

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Open Access Article

10 - Examining Financial Performance and Corporate Governance in Tehran Stock Exchange: A Hybrid Machine Learning and Data Envelopment Analysis Approach
Pooneh Noparvar Saravi Morteza Bagheri Seyed Sadegh Hadian

In the backdrop of an ever-evolving global business landscape and intense market competition, companies are faced with the imperative of strategically managing factors that influence their financial performance. This research delves into the intricate relationship betwe More

In the backdrop of an ever-evolving global business landscape and intense market competition, companies are faced with the imperative of strategically managing factors that influence their financial performance. This research delves into the intricate relationship between financial performance enhancement and corporate governance, with particular attention to the mediating role of human capital. The study centers its investigation on companies listed on the Tehran Stock Exchange and comprises a comprehensive sample of 140 top-level managers. A composite sampling approach, comprising a simple random sampling technique and Morgan's table, was employed to judiciously select a representative cohort of 103 participants. In the pursuit of rigorous academic analysis, the research leverages a goal-oriented, applied methodology, employing a descriptive survey design and a quantitative approach. The primary data for the study were methodically collected through rigorously designed and standardized questionnaires. Subsequent to data acquisition, a meticulous analytical process was undertaken using the Partial Least Squares (PLS) software, aligning with the latest developments in quantitative research techniques. The results stemming from hypothesis testing offer compelling insights into the dynamic relationship between corporate governance, human capital, and financial performance enhancement. Our findings convincingly demonstrate a significant positive impact of both corporate governance and human capital on the enhancement of financial performance in the context of Tehran Stock Exchange's listed companies. Furthermore, the empirical evidence strongly suggests that human capital plays a pivotal mediating role in the relationship between corporate governance practices and financial performance improvements. This study, in its pursuit of academic rigor, underscores the effectiveness of a novel hybrid approach, thoughtfully integrating machine learning and data envelopment analysis, to comprehensively examine the intricate interplay between financial performance enhancement and corporate governance within the context of the Tehran Stock Exchange's listed companies. The study contributes to the evolving body of literature in this domain and provides valuable insights for practitioners, policymakers, and researchers. Manuscript profile

Open Access Article

11 - Determination of the Effect of Corporate Governance on Financial Performance and Financial Distress in Firms Listed on Tehran Stock Exchange
Shahedeh Rezaei Amir Mohammad Zadeh

Purpose – This paper aims to empirically examine the impact of quality of corporate governance (CG) practices on firm performance and financial distress. For this purpose, Iran country was selected as sample. Design, methodology, approach – To assess the le More

Purpose – This paper aims to empirically examine the impact of quality of corporate governance (CG) practices on firm performance and financial distress. For this purpose, Iran country was selected as sample. Design, methodology, approach – To assess the level of CG practices at a given firm, the current study constructs corporate governance index (CGI) which consists of four dimensions: disclosure and transparency, composition of the board of directors, shareholders’ rights, and ownership and control structure. Based on a sample of 102 non-financial firms listed on the Tehran Stock Exchange, from 2009 to 2015, the effects of CG on performance and financial distress are assessed. Tobin’s Q, ROA and ROE were used to assess corporate performance. At the same time, the Altman Z-score is used as a financial distress indicator, as it measures financial distress inversely. The bigger the Z-score, the smaller the risk of financial distress. Findings – The results showed that the quality of corporate governance has significant effect on ROA, ROE and Q-tobin index. Also, the results showed that the quality of corporate governance has no significant effect on the financial crisis. Manuscript profile

Open Access Article

12 - Relationship between Corporate Governance and Earnings Management
Hashem Nikoomaram Heydar Mohammadzadeh Salteh

This study aims to investigate the relationship between corporate governance dimensions and earnings management in Tehran Stock Eechange over 2002-2007. We have selected 40 companies as the research sample after applying samplying techniques and deleting some companies. More

This study aims to investigate the relationship between corporate governance dimensions and earnings management in Tehran Stock Eechange over 2002-2007. We have selected 40 companies as the research sample after applying samplying techniques and deleting some companies. The results of the mean difference test showed that discretionary accruals are lower for the firms that had good performance in the past regardless of whether the corporate governance levels were strong or weak .We also found that discretionary accruals are lower for such firms after controlling the strength of corporate governance. Furthermore, we found that firms with weak governance may not necessarily have low discretionary accruals compared to the firms with strong governance. On the whole, the results support the conclusion that it is the adequacy rather than the strength of corporate governance that is associated with discretionary accruals. Thus, the results show that the adequacy of corporcete governance has a significant correlation with earnings management.  Manuscript profile

Open Access Article

13 - The effect components of corporate governance on the profitability of listed companies in the Tehran Stock Exchange
mohmmad sayrani fatemeh qasemnejad

AbstractCorporate governance has two dimensions of operational dimension and supervisory dimension in any company, both of which can affect the company's performance. The purpose of this research was to investigate the effect of corporate governance components on the pr More

AbstractCorporate governance has two dimensions of operational dimension and supervisory dimension in any company, both of which can affect the company's performance. The purpose of this research was to investigate the effect of corporate governance components on the profitability of companies listed on the Tehran Stock Exchange. The research period was 10 years from 2010 to 2019. Therefore, by selecting 151 companies as the research sample, the research question regarding the effect of the corporate governance components was examined by estimating the multivariable regression model and using the combined data model. The results showed that among the examined components, independence of audit committee, independence of board of directors, expertise of audit committee, gender diversity of board of directors, tenure of the CEO, expertise and competence of the internal audit unit and type of auditor had a positive effect on the profitability of the company. The duality of management duties in the board of directors had a negative effect on the profitability of the company. Also, the shares owned by institutional investors and the number of meetings of board of directors and the size of the internal audit unit did not have any effect on the profitability of the company. Manuscript profile

Open Access Article

14 - Ranking Corporate Governance Using Fuzzy Logic in Accepted Companies the Tehran Stock Exchange
Majid Abdullahi Ali Esmaeil Zadeh

10.30495/fed.2024.709337

Abstract In recent years, the support of corporate governance has attracted the attention of capital market regulatory bodies, including the stock exchange. In this regard, the corporate governance index has been taken into consideration as a monitoring tool for compan More

Abstract In recent years, the support of corporate governance has attracted the attention of capital market regulatory bodies, including the stock exchange. In this regard, the corporate governance index has been taken into consideration as a monitoring tool for companies so that companies that better comply with corporate governance mechanisms can be distinguished from companies that do not comply with these mechanisms. On this basis, companies should try to improve these mechanisms and take more effective steps to create more efficiency and value and thus improve the conditions of the capital market. In this research, an attempt is made to use a new index under the title of fuzzy corporate governance index, and according to expert opinion and formulation of fuzzy inference rules, three fuzzy expert systems have been designed to evaluate corporate governance criteria. Also, the data related to 160 companies admitted to the Tehran Stock Exchange as a sample have been collected and their data has been processed using the aforementioned fuzzy systems. The output of the first system shows the quality of the ownership index and transparency in the sample companies. The output of the second system shows the quality of the board structure index and finally the output of the third system shows the quality of corporate governance in the mentioned companies. The results of these evaluations are shown in a list of the weakest and best companies in terms of ownership and transparency, the structure of the board of directors, and the quality of corporate governance. Manuscript profile

Open Access Article

15 - The Impact of Resource Management and Consumption on Banking Performance by Emphasizing the Moderating Role of Corporate Governance
mir morteza mousavi asgar pakmaram jamal bahrisales hasan ghalibaf asl

Banks, as the most important endpoints of our financial crisis, have also become increasingly aggressive. The mission of banks is mainly based on the principle of collecting wandering funds in the form of deposits and on the other hand trying to allocate resources optim More

Banks, as the most important endpoints of our financial crisis, have also become increasingly aggressive. The mission of banks is mainly based on the principle of collecting wandering funds in the form of deposits and on the other hand trying to allocate resources optimally in different economic sectors so that they can meet government goals. Purposefully use resources collected to achieve sustainable development.To achieve this goal, hybrid regression models have been used as statistical sample for the period of 2012-2018 with the selection of all private banks accepted in the Tehran Stock Exchange. The results of the testing of research hypotheses show that the management of resources and expenses has a significant effect on the operational efficiency of banks. There was also a significant impact of corporate governance on the interaction between cost management and operational efficiency of banks.There was also a significant impact of corporate governance on the interaction between cost management and operational efficiency of banks. Manuscript profile

Open Access Article

16 - The Moderating Effect of Internal Audit Function Quality on the Relationship between Corporate Governance Quality and [Corporate Performance
اعظم ولی زاده لاریجانی مونا خدایی

10.30495/faar.2021.687677

englishInternal audit is one of the most important and main mechanisms for more effective, efficient, and better implementation of corporate governance to achieve organizational goals and improve corporate performance. Therefore, the purpose of this study is to investig More

englishInternal audit is one of the most important and main mechanisms for more effective, efficient, and better implementation of corporate governance to achieve organizational goals and improve corporate performance. Therefore, the purpose of this study is to investigate the relationship between internal audit performance quality and corporate governance quality with corporate performance and also to investigate the effect of internal audit performance quality on the relationship between corporate governance quality and corporate performance.To achieve this goal, three hypotheses were designed. The statistical population of this research is the companies listed on the Tehran Stock Exchange during the years 1391 to 1398. To measure the quality of corporate governance, indicators of the percentage of ownership of institutional shareholders, the independence of board members, and the use of financial and accounting professionals in the composition of board members have been used. Also, to measure the quality of performance of the internal audit unit, indicators expertise of the internal audit unit manager, the antiquity of the internal audit unit and the outsourcing status of the internal audit unit have been used. The results of this study showed that there is a significant positive relationship between the quality of performance of the internal audit unit and the quality of corporate governance with the performance of the corporate. However, the quality of performance of the internal audit unit does not have a moderating effect on the relationship between the quality of corporate governance and firm performance. Manuscript profile

Open Access Article

17 - Designing a Model of Corporate Governance Characteristics with an Interactive Approach to Strategic Management Accounting and Management Accounting
Mohammadreza Sahari Zahra Pourzamani

10.30495/faar.2022.697089

AbstractThe purpose of this study is to "designing a model of corporate governance characteristics with an interactive approach to strategic management accounting ". In this regard, while reviewing the concepts of corporate governance, management accounting, strategic m More

AbstractThe purpose of this study is to "designing a model of corporate governance characteristics with an interactive approach to strategic management accounting ". In this regard, while reviewing the concepts of corporate governance, management accounting, strategic management accounting, company size and organizational life cycle by interviewing experts in the field of management accounting with a focus on corporate governance by qualitative analysis to design a model of corporate governance with an interactive management accounting approach We dealt with strategic and accounting management and identification of metrics and components. The study population includes managers and heads and university professors of management accounting with a focus on corporate governance. The sample size includes 24 experts in the field of management accounting with a focus on corporate governance, which was selected by theoretical saturation method and to collect data in this study, semi-structured interviews and Delphi method were used. The results of qualitative analysis by Maxqda software showed that the dimensions and components of the corporate governance characteristics model with an interactive approach to strategic management accounting and management accounting 1- Corporate governance characteristics (members, ownership, information resources, future plans and employment, transactions and comments) And 2- Components of strategic management accounting (strategic, evaluation and monitoring, analysis) and 3- Components of management accounting (activity, quality, analysis, evaluation and improvement, organizational strategy management). Also, 35 indicators for these components were finally approved by experts. Manuscript profile

Open Access Article

18 - تأثیر جریان‌های نقدی آزاد مازاد، نظام راهبری شرکتی و اندازه شرکت بر پیش بینی پذیری سود
ناصر ایزدی نیا وحید رو ح الهی

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Open Access Article

19 - Evaluating the effect of agency conflict on the relationship between the quality of corporate governance and the company's financial performance
fatemeh samadi neda kazempor hamraahi massomeh jafari

10.30495/jdaa.2024.2003984.1135

Because the separation between ownership and control creates an agency conflict between owners and managers of the firm, strong corporate governance systems are expected to align the interests of the parties involved, whereby firms are more likely to improve their finan More

Because the separation between ownership and control creates an agency conflict between owners and managers of the firm, strong corporate governance systems are expected to align the interests of the parties involved, whereby firms are more likely to improve their financial performance. The statistical sample includes 148 companies admitted to the Tehran Stock Exchange during the years 1392 to 1400, this study, it has been explained with two hypotheses that have been tested using the econometric technique of generalized moments (GMM) in Evivse software. The findings of the study showed that the quality of corporate governance has a positive and significant effect on both measures of financial performance, and conflict of representation has a negative and significant effect on both measures of financial performance of companies. It was also found that in companies with a high level of conflict of representation, the quality of corporate governance has a stronger effect on both measures of financial performance of companies. The findings of the study showed that the quality of corporate governance has a positive and significant effect on both measures of financial performance, and conflict of representation has a negative and significant effect on both measures of financial performance of companies. This is evidenced by the fact that firms with high levels of agency conflict and high-quality corporate governance mechanisms outperform other firms. Because the results show that the level of agency conflicts strengthens the relationship between the level of corporate governance mechanisms and financial performance. Manuscript profile

Open Access Article

20 - Examining the Building Blocks of Good Corporate Governance as an Interdisciplinary Category
ghazale nazari aref Behzad Farrokhseresht Ghorbanali Aghaahmadi Saeed Eslami

Good corporate governance as a model of sustainable human resource development with actors from all three sectors of government, private and civil society, has a special place in many recent scientific theories about the concept of governance. Nevertheless, despite the More

Good corporate governance as a model of sustainable human resource development with actors from all three sectors of government, private and civil society, has a special place in many recent scientific theories about the concept of governance. Nevertheless, despite the importance and position of the concept of good corporate governance, the theoretical gap in this area is obvious. One reason for this is perhaps the complexity of dealing with it as an interdisciplinary category. To address this gap and with an interdisciplinary perspective, the present study uses the qualitative method of content analysis to explore the constituent elements of good corporate governance. The results of this study eventually led to the identification of eight main themes and twenty-three sub-themes: 1. Sovereign consciousness, 2. Organizational culture, 3. Disclosure of information, 4. Responsiveness, 5. A network of relationships, 6. Board size, 7. Justice and fairness and 8. Ownership structure.The key building blocks of corporate governance are well known. The results of this research provide the necessary theoretical foundations to address good corporate governance and its evaluation Manuscript profile

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