قابلیت مقایسه

Open Access Article

1 - Financial Statement Comparability and Expected Stock Price Crash Risk
Zohreh Hajiha hasan Chenari Bouket

AbstractThis study investigated the relationship between the comparability of financial statements with the expected crash risk stock prices in firms listed on the Tehran Stock Exchange. Information needed for the study of the financial statements of 117 firms in the pe More

AbstractThis study investigated the relationship between the comparability of financial statements with the expected crash risk stock prices in firms listed on the Tehran Stock Exchange. Information needed for the study of the financial statements of 117 firms in the period 1390-1394 has been collected. To test the hypothesis of multivariate regression with panel data is used. To calculate the variable comparability of the model De-Franco et al. (2011) and to calculate the variable crash risk expected stock price model Kothari et al (2009) is used. The findings of the research hypothesis and show that there is negative relationship between the comparability of financial statements with the expected crash risk stock prices. In other words, by increasing the comparability of uncertainty, incorrect analysis, investors and fear of further fall in prices will reduce the period of the crisis. Manuscript profile

Open Access Article

2 - Auditor style and comparability of financial statements
Fryidoon Rahnamay Roodposhti Hamidreza Vakili Fard Fazllolah Lak Abdolreza Mohseni

The term auditor style to determine a unique set of internal working rules each audit firm to perform audit standards and application generally accepted accounting principles between their clients are used. Audit style implies that two companies audited by the same audi More

The term auditor style to determine a unique set of internal working rules each audit firm to perform audit standards and application generally accepted accounting principles between their clients are used. Audit style implies that two companies audited by the same auditor, subject to the same audit style, are more likely to have comparable earnings than two firms audited by two different audit firms with different styles.The sample consists of 63 companies listed in Tehran Stock Exchange for the period 2002 to 2013. The tests are based on pairs of firms and a total of 4344 pairs of firms as observations are used. In the present study used correlation method and multiple regression and is performed regression analysis for hypothesis test.The findings show that clients of other audit firms member of certified public accountants society in the same industry and year than to clients of audit organization have more similar in accruals and earnings structure. Also clients of other audit firms in the same industry and year than to their non-clients have more similar in accruals and earnings structure.Finally the findings show that audit style is effective to comparability of financial statements. Manuscript profile

Open Access Article

3 - The Standards Based on Norms and The Unsuitable Usage Of Accounting Principles
Aliakbar Chaharmahali Farzad Nazemi

Accounting standards can based on principles or a set of partly norms. Standard_based_ principles codification approach proponents believe that the standards based on principle make possible to professional judgements for accountants and they lead to more transparent an More

Accounting standards can based on principles or a set of partly norms. Standard_based_ principles codification approach proponents believe that the standards based on principle make possible to professional judgements for accountants and they lead to more transparent and simple standards. Standard_based_ norms codification approach proponents believe that the standards based on principle annihilate the comparability of  financial informations , but the standards based on norms cause a increase in comparability of  financial information and a decrease in the probably legal claims against accountants and also in  profit_management. In this research, these views, are surveyed and finally are compared three accounting standards in international, FASB and Iran levels. Manuscript profile

Open Access Article

According to the conflict of interest hypothesis, directors take advantage of related-party transactions for their personal benefits so that companies with related-party transactions present less comparable financial information to mask the adverse effects of such trans More

According to the conflict of interest hypothesis, directors take advantage of related-party transactions for their personal benefits so that companies with related-party transactions present less comparable financial information to mask the adverse effects of such transactions and thus prevent stakeholders from recognizing them. Given this argument, this study aims at exploring the effect of related-party transactions on the comparability of financial statements. To do so, a sample of 86 firms listed in Tehran Stock Exchange during the years 2012-2016 were selected and then tested using multivariate regression model based on panel data. In accordance with the conflict of interest hypothesis, the results revealed that related-party transactions lead to a fall in financial information comparability. The findings of the study not only fill the research gap in the field, but also benefit investors, stock exchange and other stakeholders in decision making process Manuscript profile

Open Access Article

5 - The Impact of Accounting Comparability and Consistency on Information Asymmetry: A Text Mining Approach
Sobhan Zafari Dariush Foroughi Gholamhosein Kiani

The Aim of this paper is to Investigate The Impact of Accounting Comparability and Consistency on Information Asymmetry of Listed Companies in Tehran Stock Exchange.The Population of Research is Firms listed in TSE.the sample of Research Consist of 80Firms in Time-perio More

The Aim of this paper is to Investigate The Impact of Accounting Comparability and Consistency on Information Asymmetry of Listed Companies in Tehran Stock Exchange.The Population of Research is Firms listed in TSE.the sample of Research Consist of 80Firms in Time-period of1389-1395.for Hypotheses testing,We Utilised Multivariate Pooling Data Regression.To Measure Accounting Consistency we Applied Text-mining Techniques(Vector Space Model).Research Findings Indicate that Accounting Comparability negatively impact the information AsymmetryFindings also show that accounting consistency have a negative impact on information asymmetry. Overall, it seams that in Iran Capital market, accounting comparability as a one of the qualitative characteristic of accounting information is very important for users of accounting information and investors so that it lead to private information convert to public available for them. alSo , it seams that changing accounting methods and procedures is very important for capital market participants and By creating more ambiguity about the reasons of changing accounting methods lead to increase information asymmetry. Manuscript profile

Open Access Article

6 - A meta-analysis of the relationship between conservatism and comparability with earnings management in Iran
zahra Akbary Mohammadreza Mehrabanpour hossein jahangirnia Reza Gholami Jamkarani

There have been numerous studies on the factors related to earnings management that with contradictory results have been published separately. The purpose of the present study is to examine, analyze and combine the results of previous researches on the relationship betw More

There have been numerous studies on the factors related to earnings management that with contradictory results have been published separately. The purpose of the present study is to examine, analyze and combine the results of previous researches on the relationship between conservatism and comparability with earnings management in Iran. The research population includes all existing research in the area of relationship between conservatism and comparability with earnings management including, including valid articles from 2013 to 2019. The research method is meta-analysis using CMA2 software. The findings of the study indicate that conservatism has no significant relationship with accrual and cash earnings management, but it has a negative and significant relationship with total earnings management. Comparability has a positive and significant relationship with accrual and has a significant negative relationship with cash earnings management. Contribution of findings enriches the literature on earnings management and its related factors and fill existing research gap. Manuscript profile

Open Access Article

7 - Financial Statement Comparability and Cash Holdings
mehdi safari gerayli (Ph.d) Yasser Rezaei pitenoei (Ph.d)

The present study is attempts investigate the impact of financial statement comparability on corporate financial cash holdings. To this end, three various proxies based on DeFranco et al’s (2011) were employed to evaluate financial statement comparability, and Ozc More

The present study is attempts investigate the impact of financial statement comparability on corporate financial cash holdings. To this end, three various proxies based on DeFranco et al’s (2011) were employed to evaluate financial statement comparability, and Ozcan & Ozcan’s (2004) model was also used to measure cash holdings. The research hypothesis was also developed based on the data collected form a sample of 82 firms listed on the Tehran Stock Exchange during the years 2013-2017, and then tested using multivariate regression model based on panel data. The results indicate that financial statement comparability reduces the level of corporate cash holdings. This finding means that, financial statement comparability can mitigate uncertainty and facilitate the monitoring of the evaluation of the managerial performance through attenuating acquisition costs and enhancing the quality and quantity of the information available to investors. Accordingly, firms with comparable financial statements confront with less external financing costs and restrictions, thereby less likely to hold cash. Moreover, these results are robust and are not sensitive with respect to alternative measure of cash holdings and individual analysis of the research hypothesis for each year. Manuscript profile

Open Access Article

8 - Providing a Model of the Relationship between the Financial Statements Comparability and Stock Price Crash Risk with Moderating role of the Audit Committee.
Abbas Daryabari Ghodratallah Talebnia Mohammad khodaei Valeh Zaghard faeygh ahmadi Hamidreza Vakilifard

AbstractComparability is one of the unique qualities of financial information that enhances its usefulness. The ability to compare financial statements as a specific feature of financial reporting quality can reduce managers' motivation to hide negative news. An effecti More

AbstractComparability is one of the unique qualities of financial information that enhances its usefulness. The ability to compare financial statements as a specific feature of financial reporting quality can reduce managers' motivation to hide negative news. An effective audit committee, on the other hand, limits the opportunistic and biased behavior of managers and delays the identification of profits. Thus, the existence of an effective audit committee can be considered as an effective mechanism to reduce the Stock price crash risk and affect the relationship between the financial statements comparability and Stock price crash risk. Therefore, based on this reasoning, the present study, using the structural equation modeling approach, examines the relationship between financial statements comparability with Stock price crash risk and the moderating effect of the audit committee on this relationship. The statistical sample of the present study consists of 126 companies listed in Tehran Stock Exchange 2012-2018. The findings show that the financial statements comparability reduces Stock price crash risk. In addition, the results show that the audit committee moderates and exacerbates the negative relationship between the financial statements comparability and Stock price crash risk. Manuscript profile

Open Access Article

9 - نقش واسطه ای پیش‌بینی‌پذیری و مقایسه‌پذیری سود در تأثیر مولفه حاکمیتی گزارشگری عملکرد پایدار بر ریسک سقوط قیمت سهام و نقدشوندگی سهام
Morteza Pahlavan Ali Asghar Anvary Rostamy Roya Darabi

با توجه به اهمیتی که سرمایه‌گذاران برای بازده سهام خود قائل هستند، پدیده سقوط سهام منجر به کاهش شدید بازده می‌شود. بسیاری از پژوهشگران معتقدند تغییرات قیمت سهام شرکت از مدیریت اطلاعات داخلی آن نشأت می‌گیرد. از آنجایی که قیمت سهام، نه تنها از طریق اطلاعات مالی بلکه از طر More

با توجه به اهمیتی که سرمایه‌گذاران برای بازده سهام خود قائل هستند، پدیده سقوط سهام منجر به کاهش شدید بازده می‌شود. بسیاری از پژوهشگران معتقدند تغییرات قیمت سهام شرکت از مدیریت اطلاعات داخلی آن نشأت می‌گیرد. از آنجایی که قیمت سهام، نه تنها از طریق اطلاعات مالی بلکه از طریق اطلاعات اجتماعی، حاکمیتی، اقتصادی و زیست محیطی نیز دستخوش تغییر می شود، از این رو انتشار یک گزارش خاص نظیر بعد حاکمیتی گزارشگری عملکرد پایدار می‌تواند بر نقدشوندگی سهام و ریسک سقوط قیمت سهام اثر گذار باشد. پژوهش حاضر با استفاده از رویکرد مدل-سازی معادلات ساختاری به دنبال پیش‌بینی معیارهای ریسک سقوط قیمت سهام و نقدشوندگی آن از طریق گزارشگری پایداری حاکمیتی و معیارهای دقت پیش‌بینی و قابلیت مقایسه سود (معیارهای داخلی) است. بدین منظور و با استفاده از روش حذف سیستماتیک، 147 شرکت پذیرفته شده در بورس اوراق بهادار تهران برای بازه زمانی 1391 تا 1400 به عنوان نمونه انتخاب شدند. جهت تجزیه و تحلیل داده‌ها از نرم افزار PLS استفاده گردید. نتایج پژوهش نشان داد که مولفه حاکمیتی گزارشگری عملکرد پایدار منجر به افزایش قابلیت مقایسه سود، افزایش نقدشوندگی سهام و کاهش ریسک سقوط آتی قیمت سهام می‌گردد. دیگر یافته‌ها نشان داد که قابلیت مقایسه سود بر رابطه میان گزارشگری عملکرد پایدار حاکمیتی با ریسک سقوط آتی قیمت و نقدشوندگی سهام نقش واسطه‌ای دارد. این در حالی است که دقت پیش بینی سود بر ریسک سقوط آتی قیمت سهام و نقدشوندگی سهام تاثیر معناداری ندارد. Manuscript profile

Open Access Article

10 - The Effect Of Financial statement comparability on corporate debt maturity with emphasis on the role of Managers’ Overconfidence
Hengameh veysizadeh Allah Karam Salehi

10.30486/fbra.2021.1933854.1015

Comparability is also one of the key quality features of accounting information that facilitates the comparison of financial statements, comparability in the capital market and debt is very important for investors and creditors; Because investment and lending decisions More

Comparability is also one of the key quality features of accounting information that facilitates the comparison of financial statements, comparability in the capital market and debt is very important for investors and creditors; Because investment and lending decisions are based on evaluating alternative opportunities or projects, without this comparable information, no optimal decision can be made. Due to the importance of this issue, in this study, the effect of comparability of financial statements on debt maturity structure with emphasis on the role of managers' overconfidence in the Tehran Stock Exchange in the period 2014 to 2020 using the information of 144 companies using the generalized least squares and generalized moment procedure regression has been investigated. The research method is applied, descriptive and with deductive-inductive approach. To measure the comparability of financial statements, the model of De Franco et al. (2011) and following the research of Ahmed and Duellman (2013) to measure managers' overconfidence, over-investment has been used. The results using both methods show that the comparability of financial statements reduces the debt maturity structure and managers' overconfidence leads to an increase in the debt maturity structure. Managers' overconfidence also increases the negative relationship between the comparability of financial statements and debt maturity structure and increases its severity. Manuscript profile

Open Access Article

11 - The Relationship between Comparability of Financial Statements and Asymmetric Behavior of Costs with Considering the Moderating Role of Institutional Investors’ Ownership
Shirin Shahbazi Shirin Shahbazi یونس بادآور نهندی

The asymmetric behavior of costs is one of the phenomena that originates from the conflict of interests between managers and owners. The ability to compare financial statements by determining the level of coordination between the accounting procedures of different compa More

The asymmetric behavior of costs is one of the phenomena that originates from the conflict of interests between managers and owners. The ability to compare financial statements by determining the level of coordination between the accounting procedures of different companies makes the information environment transparent and provides the possibility of correct evaluation of performance and optimal allocation of resources. Institutional owners, as one of the pillars of the corporate governance system, play an important role in monitoring management. Based on this, the current research examines the relationship between the comparability of financial statements and the asymmetric behavior of costs with considering the moderating role of institutional investors’ ownership. The statistical population of the research include the companies admitted to the Tehran Stock Exchange for the years since 2013 to 2020, and 139 Firms were selected as a statistical sample using the systematic elimination method. The research method is post-event and the data analysis method is multivariate linear regression. The results of the research showed that, there is a negative relationship between comparability of financial statements and asymmetric behavior of costs. Also, ownership of institutional investors exacerbates the negative relationship between comparability of financial statements and asymmetric behavior of costs. Therefore, the comparability of financial statements and the ownership of institutional investors play a complementary role in reducing the negative consequences of conflicts of interest between managers and owners and providing the goal of optimal use of resources. Manuscript profile

Open Access Article

12 - Investigating the relationship between strengths and weaknesses of social responsibility with financial statement comparability (Empirical evidence from Tehran Stock Exchange)
Hossein Eslami Mofid Abadi Amir Sina Rezai Seyed Mohammad Reza Khalilzade

The main purpose of this study is to investigate the relationship between the strengths and weaknesses of social responsibility and the comparability of financial statements. This research is from the perspective of process, the type of data studied and the result from More

The main purpose of this study is to investigate the relationship between the strengths and weaknesses of social responsibility and the comparability of financial statements. This research is from the perspective of process, the type of data studied and the result from the type of quantitative-applied, from the perspective of purpose and logic from the type of correlation analysis and deductive-inductive and from the perspective of time dimension also from the longitudinal type of event. To test the research hypotheses, the financial information of companies listed on the Tehran Stock Exchange in the period between 2004 to 2018 has been used, so that after applying the restrictions in this research, the final sample consisting of 121 companies was selected. After the operational measurement of the research variables, in the next step, multivariate linear regression analysis techniques have been used to test the research hypotheses. Hypothesis testing is also performed using econometric software (Eviews) and statistical methods of integrated data. The results of statistical tests show that with increasing positive points of corporate social responsibility, the ability to compare financial statements also increases. In addition, the weaknesses of social responsibility Reduces the comparability of financial statements. Manuscript profile

Open Access Article

13 - The Effect of Comparability of Financial Statements on Stock Price Crash Risk with Emphasis on the Role of Management Ability in Tehran Stock Exchange
Abdolkarim Farhanian Allah Karam Salehi

Improving the quality feature of comparability in financial statements enables users to better assess the similarities and differences related to economic activities between different companies over time and to be able to allocate their resources optimally. The main pur More

Improving the quality feature of comparability in financial statements enables users to better assess the similarities and differences related to economic activities between different companies over time and to be able to allocate their resources optimally. The main purpose of this study is to investigate the effect of comparability of financial statements on stock price crash risk with emphasis on the role of management ability in Tehran Stock Exchange, which was done using the information of 119 companies during the period 2014 to 2020. The results show that there is a positive and significant relationship between the management ability and the stock price crash risk and there is a nagative and significant relationship between the financial statements comparability and stock price crash risk. The results also indicate the adjustment effect of management ability on the relationship between comparability of financial statements and the stock price crash risk. Therefore, it can be concluded that managers, based on the agency theory and conflict of interest between managers and owners, may use their intelligence and talent to achieve personal return or due to overconfidence and hoarding of bad news, cause price bubbles and eventually stock price crash risk. Manuscript profile

Open Access Article

14 - The effect of capital structure and operating cycles on the relationship between comparability of financial statements and holding cash
Mohammadreza Mehrabanpour Farzin Rezaei Maryam Moradi Leila Moradi

Increasing the comparability of financial statements leads to lower agency costs and the need to keep cash. In this regard, the aim of this study was to investigate the relationship between comparability of financial statements and cash retention and the effect of capit More

Increasing the comparability of financial statements leads to lower agency costs and the need to keep cash. In this regard, the aim of this study was to investigate the relationship between comparability of financial statements and cash retention and the effect of capital structure and operational cycles on the relationship between comparability of financial statements and retention of cash. To achieve the objectives of the study, the data of companies listed on the Tehran Stock Exchange in the period 2014 to 2018 were tested using multiple linear regressions using panel data. The findings show that increasing the comparability of financial statements significantly reduces the retention of corporate cash. Evidence also suggests that there is no significant effect of capital structure and operational cycles on the relationship between the comparability of financial statements and the retention of cash. The results show that investors and creditors in their economic decisions rely on the financial statements of companies, so it is worthwhile to standardize and monitor institutions as well as the company's governing bodies. . They attach special importance to the ability to compare financial information. Manuscript profile

Open Access Article

15 - The Effect of Authorized Professional Judgment’s Application in Iran Accounting Standards on Qualitative Characteristics of Accounting Information
Hashem Nikomaram Mousa Bozorg Asl Mehdi Taghavi Ali Asghar Mahmoudzadeh

Financial statements have been considered as the most significant part for contributing the financial reporting process, assessing financial position, performance and flexibility of companies. In general, the field of activities of companies is very various and these ar More

Financial statements have been considered as the most significant part for contributing the financial reporting process, assessing financial position, performance and flexibility of companies. In general, the field of activities of companies is very various and these are always faced with so many economical events, so it is not possible to define some specific regulations for reporting those events. In this case, there is an emphasis for financial statements preparers to apply professional judgment in accounting standards. In this study, we are going to elaborate whether the application of professional judgment in Iran accounting standards will affect the quality of financial information such as comparability and reliability of them? And if accountants intend to change the financial information for his benefit, does the professional judgment let them to do that and work as an appropriate tool for their goals? For considering the subject of this research, we have used a combined design in order to measure the effects of financial statements preparers’ decisions on comparability and reliability of the information by using professional judgment. The empirical evidences have been collected to demonstrate whether the level of applied professional judgment in Iran accounting standards, can have any influence on comparability of financial statements. Findings of this research show that using professional judgment in accounting standards will decrease comparability of financial reporting. Empirical findings of this research show that the accountants which are put in an suitable circumstance for moral hazard in comparison to other people who are not in such situation, use their professional judgment to demonstrate better performance for their company and gain more benefits. Manuscript profile

Open Access Article

16 - Investigating the Effect of Accounting Comparability on Financial Reporting Quality and Tax Avoidance
Alireza Rahimi Ali Kiani

10.30495/faar.2024.709450

Abstract This study investigated the effect of accounting comparability on financial reporting quality and tax avoidance. Accounting comparability improves information environment. Increased financial reporting transparency caused by increased accounting comparability More

Abstract This study investigated the effect of accounting comparability on financial reporting quality and tax avoidance. Accounting comparability improves information environment. Increased financial reporting transparency caused by increased accounting comparability provides users a better understanding of the information content of financial reports, furthermore it reduces the opportunistic behaviour of managers. Meanwhile in reporting financial information for tax purposes transparent and comparable information plays an important role in in tax decisions.In this study by focusing on on an important aspect of financial reporting environment, that is accounting comparability, we are supposed to investigate the effects it could have on financial reporting quality and tax avoidance. To do so we have sampled out 110 companies listed with stock exchange. We have used multiple linear regression models to test the hypotheses. Our findings are indicative of positive relation between accounting comparability and financial reporting. the financial statement comparability as a governance mechanism prevents managers opportunistic behaviors including tax avoidance. quality as well as negative relation between accounting comparability and tax avoidance which are both in accordance with the hypotheses. based on the results of this study, when the quality of financial reporting, high and lower tax avoidance and tax avoidance, the capacity of accounting comparison improves the ability of users to identify similarities and differences between economic phenomena. As a result, consumers choose the best financial information that makes decisions more effective.  Manuscript profile

Open Access Article

17 - The Effect of Accounting Comparability on Financial Reporting Quality with Emphasis on Audit Quality
Zohreh Hajiha hasan chenari

10.30495/jdaa.2023.699869

AbstractThe aim of this study was to investigate the effect of comparing financial statements on the quality of financial reporting with emphasis on audit quality. It is argued that comparability increases the usefulness of accounting information and makes it possible t More

AbstractThe aim of this study was to investigate the effect of comparing financial statements on the quality of financial reporting with emphasis on audit quality. It is argued that comparability increases the usefulness of accounting information and makes it possible to identify similarities and differences between economic events for users of financial statements.For this purpose, information on the financial statements of 103 companies has been collected. Multivariate regression with panel data has been used to test the hypotheses.The findings of the research hypothesis test show that the comparability of financial statements enhances the quality of financial reporting, but the moderating role of audit quality is ineffective in this relationship.Managers' ability to evaluate the company's performance and predict future events and to provide information on reliable forward-looking estimates that can be used to report higher quality commitment items increases. Manuscript profile

Open Access Article

18 - Corporate Social Responsibility and Compare Financial Statements
Babak Jamshidinavid Maryam Mansouri

10.30495/afi.2021.1927769.1019

Provision and presentation of quality information is a prerequisite for decision making by stakeholders of business units. One of the features of this information is having the ability to compare with other peer companies, as one of the quality features of this informat More

Provision and presentation of quality information is a prerequisite for decision making by stakeholders of business units. One of the features of this information is having the ability to compare with other peer companies, as one of the quality features of this information. Social responsibility can affect the qualitative characteristics of financial reporting. Therefore, the purpose of this study is to investigate the relationship between corporate social responsibility and the ability to compare financial statements as one of the most important features of financial reporting. To achieve the purpose of the study, the composite data of 114 companies listed on the Tehran Stock Exchange in the period 2010-2020 were analyzed using multivariate linear regression. Findings showed that there is a positive and significant relationship between corporate social responsibility and the ability to compare financial statements. Based on these findings, it can be said that social responsibility obliges company managers to adhere to their ethical commitments and provide accurate and quality information to their stakeholders. To do this, they use quality and similar standards and procedures that help reduce information asymmetries at the company level, employees, stakeholders, peer companies and even the capital market. Manuscript profile

Open Access Article

19 - Investigating the effect of economic uncertainty on the relationship between comparability of financial statements and the stock price crash risk in Tehran Stock Exchange
Zeinab Rezaei fatemeh kiyani

10.30495/afi.2022.1944433.1061

The purpose of this study is to investigate the effect of economic uncertainty criteria on the relationship between the financial statement comparability and the stocks price crash risk in companies listed on Tehran Stock Exchange. To measure stocks price crash risk, th More

The purpose of this study is to investigate the effect of economic uncertainty criteria on the relationship between the financial statement comparability and the stocks price crash risk in companies listed on Tehran Stock Exchange. To measure stocks price crash risk, the criterion of negative stock skewness was used and to measure the economic uncertainty, three indicators of inflation rate changes, exchange rate changes and economic growth rate changes were used. For this purpose, data related to 119 companies listed on Tehran Stock Exchange for the period from 2014 to 2020 have been analyzed. The research regression model has been investigated and tested using the panel data method with a random effects approach. The results showed that in conditions of economic uncertainty, stocks price crash risk increased and economic uncertainty criteria moderate the negative relationship between financial statement comparability and stocks price crash risk. In addition, the results showed that improving the quality of financial statement comparability facilitates investors’ access to some information not disclosed by company managers, and therefore managers' motivation to accumulate bad news is reduced, resulting in stocks price crash risk. The effect of the sudden release of bad news is reduced. Manuscript profile

Open Access Article

20 - Investigating the Mediating Role of Comparability of Financial Statements on the Relationship between Managers' Opportunistic Behavior and Investors' Divergence of Opinions
mohsen tohidloo علی بیات Ali Mohammadi VAHAB ROSTAMI

Beliefs and emotional tendencies of investors can influence the direction of trading volumes and stock market prices by creating changes in the capital market environment. This paper has investigated the mediating role of comparability of financial statements on the rel More

Beliefs and emotional tendencies of investors can influence the direction of trading volumes and stock market prices by creating changes in the capital market environment. This paper has investigated the mediating role of comparability of financial statements on the relationship between managers' opportunistic behavior and investors' divergence of opinions. This research was conducted post-event and using the causal correlation method. The companies listed to the Tehran Stock Exchange. formed the statistical population of the research, and by applying the desired conditions and systematically removing, it we used information of from 134 companies as a research sample in the period of 2014 to 2023. Divergence of investors' behavior has been calculated using the index of unexpected trading volume and managers' opportunistic behaviors have been measured by two factors of real earnings management and managers' overconfidence. The findings indicated that earnings management and management overconfidence have a direct and significant relationship with the divergence of investors' behavior. Also, the comparability of financial statements moderates the positive relationship between real earnings management and management's overconfidence on the divergence of investors' behavior regarding determining the correct figure of the intrinsic value of stocks while making investment decisions. Manuscript profile

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