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Open Access Article

1 - Investigating the mediating role of growth opportunities on the relationship between managers' overconfidence and investment efficiency
Afshin shalchi Zadollah Fathi Hossein Shafiei

AbstractThe purpose of this study is to investigate the mediating role of growth opportunities on the relationship between managers' overconfidence and investment efficiency. Given that investing is the process of making a decision that managers use to identify projects More

AbstractThe purpose of this study is to investigate the mediating role of growth opportunities on the relationship between managers' overconfidence and investment efficiency. Given that investing is the process of making a decision that managers use to identify projects that add value to the company, managers' mental states, including those of managers' overconfidence, play a significant role in selecting investment projects. On the other hand, managers' over-confident influence on investment efficiency can be indirectly influenced by growth opportunities. This research is causal, post-event and applied. To conduct this research, a sample of 156 companies listed in Tehran Stock Exchange during the period 2009-2018 was selected. Based on the combined data method and multivariate linear logistic regression analysis, the research findings showed that managers' overconfidence leads to increase / decrease of over / under investment. Also, according to Baron & Kenny (1986), managers' trust is influenced not only directly but also indirectly by growth opportunities. Manuscript profile

Open Access Article

2 - The Relationship between the Financial Statements Comparability and Company Growth Opportunities Regarding the Mediating Role of Financial Constraints and Financial Reporting Quality
Younes Badavar Nahandi Mohammadreza Abbasi Astamal Zeinab Omarpour Mesrkanlo

This research is practical in terms of purpose, and from the point of view of correlation methodology, it is causal type (post-event). The statistical population of the research is the companies admitted to the Tehran Stock Exchange, and using the systematic elimination More

This research is practical in terms of purpose, and from the point of view of correlation methodology, it is causal type (post-event). The statistical population of the research is the companies admitted to the Tehran Stock Exchange, and using the systematic elimination sampling method, 129 companies were selected as the research sample in the 6-year period between 2017 and 2022. The results of the research show that there is a positive relationship between the comparability of financial statements and the company's growth opportunities. Financial constraints play a mediating role in the positive relationship between comparability of financial statements and company growth opportunities. In other words, the comparability of financial statements increases the growth opportunities of the company by helping to reduce financial constraints. The quality of financial reporting plays a mediating role in the positive relationship between the comparability of financial statements and the company's growth opportunities. In other words, the comparability of financial statements increases the company's growth opportunities by helping to increase the quality of financial reporting.company's growth opportunities. In other words, the comparability of financial statements increases the company's growth opportunities by helping to reduce financial constraints. The quality of financial reporting plays a mediating role in the positive relationship between the comparability of financial statements and the company's growth opportunities. In other words, the comparability of financial statements increases the company's growth opportunities by helping to increase the quality of financial reporting. Manuscript profile

Open Access Article

3 - تأثیر سیاست‌های تقسیم سود سهام بر تصمیمات سرمایه‌گذاری با تأکید بر کیفیت گزارشگری مالی
رقیه رنگزن مقدم زهرا لشگری

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Open Access Article

4 - The Relevance between Accounting Variables and Stock Return Based on the Stock Returns Model of Zhang
Mohsen Dastgir Neda Taji Rahman Saedi

In this research we investigate the relationship between the accounting variables and stock returns based on the equity value model of Zhang. The aim of the paper is to show that stock returns is a function of earning yield, equity capital investment, changes in profita More

In this research we investigate the relationship between the accounting variables and stock returns based on the equity value model of Zhang. The aim of the paper is to show that stock returns is a function of earning yield, equity capital investment, changes in profitability, growth opportunities and discount rates. Based on the literature review five hypotheses has been considered and analyzed by simple and multiple regression methods during 2001-2010 in Tehran Stock Exchange (TSE). Empirical results do not confirm the predicted roles of all identified factors. Only there is a direct relation between earning yield and stock returns also there is an inverse relation between changes in discount rates and stock returns.  Manuscript profile

Open Access Article

5 - تأثیر فرصت رشد بر اهرم مالی
مریم دولو فاطمه بسطامی

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Open Access Article

6 - رابطه سود تقسیمی با فرصت‌های رشد و هزینه نمایندگی
حسین اعتمادی محمد اسمعیلی کجانی

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Open Access Article

7 - The Relationship between the Product Market Competition and Information Asymmetry; Structural Equation Modeling Approach
اکبر کنعانی رضوان حجازی مهرداد قنبری بابک جمشیدی نوید

Since competition in the product market is one of the factors influencing the decisions of managers and investors, it is therefore considered as an important component in the reduction of information asymmetry in terms of insiders and outsiders decision making.The purpo More

Since competition in the product market is one of the factors influencing the decisions of managers and investors, it is therefore considered as an important component in the reduction of information asymmetry in terms of insiders and outsiders decision making.The purpose of this study was to investigate the effect of competition in product market on information asymmetry.The statistical population of this research is the companies accepted in the TSE  by using structural equation modeling approach. In order to measure the level of competition, the Herfindahl-Hirschman index and to measure the information asymmetry, Bid-Ask criteria and firm size, earning forecast error and growth opportunities was used. After assuring the ability to measure the information asymmetry variable by the indicated indicators as well as the appropriate fit for the measurement and structural model of the research, the results indicate that the level of competition in the product market has a significant effect on the information asymmetry. In other words, with increasing competition in the product market, information asymmetry decreases. Manuscript profile

Open Access Article

8 - Dividends and growth opportunities related variables impact on the quality of financial reporting and the volatility of stock returns
فرزانه Heydarpur سمیه Zarerafie

The Effects of Dividend Variables and Growth Opportunities on The Relationship between Financial Reporting Quality and The Stock Return Volatility Farzaneh Heidarpoor Somayeh Zare Rafiee (Received: 19/Apr/2014; Accepted: 21/Jun/2014) Abstract This paper aims to the effe More

The Effects of Dividend Variables and Growth Opportunities on The Relationship between Financial Reporting Quality and The Stock Return Volatility Farzaneh Heidarpoor Somayeh Zare Rafiee (Received: 19/Apr/2014; Accepted: 21/Jun/2014) Abstract This paper aims to the effect of Growth opportunities and dividend policies on the relationship between financial reporting quality and return on stock volatility of Listed Companies in Tehran Stock Exchange. The the population is listed companies in Tehran Stock Exchange. The sample that achieved based on Screening method included 84 companies. The results of the test research hypotheses using panel data suggest that there is negative relationship between return volatility and financial reporting quality so that, with the increasing financial reporting quality, return volatility is decreased and risk. The finding of this study also confirms that growth opportunities have direct effect on financial reporting quality and return volatility and its increasing enhances the relationship between financial reporting quality and the company's stock return volatility. However, the results show that dividend policy has no significant effect on relationship between financial reporting quality and return volatility. Key Words: Financial Reporting Quality, Return Volatility, Dividend Policy, Growth Opportunities. Manuscript profile

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