-
Open Access Article
1 - Investigating the effect of the quality of internal audit performance on the accuracy of profit forecasting by managers of companies listed on the Tehran Stock Exchange
Massoumeh Latifi Benmaran Shahrzad SerajPurpose: The purpose of this research is to investigate the effect of the quality of internal audit performance on the accuracy of managers' profit forecast. Methodology: The data of 136 companies listed on the Iran Stock Exchange were used during the years 2017 to 202 MorePurpose: The purpose of this research is to investigate the effect of the quality of internal audit performance on the accuracy of managers' profit forecast. Methodology: The data of 136 companies listed on the Iran Stock Exchange were used during the years 2017 to 2021. Hypotheses were tested by multiple regression method considering the fixed effects of year and industry. Findings: The results of the statistical tests showed that there is a significant relationship between the quality of the internal audit and the accuracy of the company's profit forecast. Originality: Management forecasts are disclosures made by companies to communicate information about their future performance to shareholders. These disclosures are voluntary and are intended to reduce information asymmetry between management and shareholders. Inaccurate forecasts can be very costly for managers and question the credibility of managers and show managerial incompetence. The quality of the internal audit function reduces the likelihood of erroneous, biased, or incomplete information in management reports that managers use to improve their profit forecasts. Manuscript profile -
Open Access Article
2 - Effect of Stock Price Pressure on Management Earnings Forecasts
Farhad Sharafi Shadi Shahverdiani Zohreh HajihaManagement earnings predictive quality, is much higher than predictions by individuals outside the organization. Because managing more information about the status of the company, it is aware of the current plans of the company and has access to the details of financial MoreManagement earnings predictive quality, is much higher than predictions by individuals outside the organization. Because managing more information about the status of the company, it is aware of the current plans of the company and has access to the details of financial information from previous periods. In addition, it often allocates significant resources to financial forecasts. The main issue is not whether stock price pressures affect the management earnings predictive quality? The main objective of this research is to investigate the effect of stock price pressure on management earnings expectations in listed companies in Tehran Stock Exchange. Measurement criterion for managers' earnings forecast; Earnings per share are forcasted, managers earnings forecast error and manager earnings aggressive forecast. To test the hypotheses of the research, multiple linear regression model has been used. The results of the survey of 140 companies listed in Tehran Stock Exchange during the period from 2011 to 2016 indicate that stock price pressures have a negative effect on managers earnings forecasting. In addition, the research evidence showed that stock price pressures have a positive effect on the forecast error of managers' earnings. Also, the results showed that stock price pressure had a positive effect on the manager earning aggressive forecast. These results indicate the importance and effectiveness of stock price pressures in managerial earnings forecasts. Manuscript profile -
Open Access Article
3 - Investigate the relationship between investor sentiment, courage in predicting dividends and future corporate performance
Reza Gholami Jamkarani Zahra Akbari Masoud BakhtiariThe purpose of this research is to investigate the relationship between investor sentiment, courage in predicting dividends and future performance of the company in Tehran Stock Exchange. The research is applied from the direction of the target, and, depending on the ty MoreThe purpose of this research is to investigate the relationship between investor sentiment, courage in predicting dividends and future performance of the company in Tehran Stock Exchange. The research is applied from the direction of the target, and, depending on the type of research project, relying on historical information, then the event. The method of research inference is inductive and correlation type and consists of 3 hypotheses. The research community is the accepted companies in Tehran Stock Exchange for a period of 5 years. To document the results of statistical analysis and provide final solutions, the researcher used a statistical method using Eviews software to analyze the questions and hypotheses. The research was conducted using regression Compound linear and F and t tests. The results of the test of research hypotheses showed that investor's feelings on courage affect the prediction of dividends and company growth, but not affect future returns. Manuscript profile -
Open Access Article
4 - Optimism & Pessimism Biases in Earnings Forecasting and Deviation in Financial Reporting: Evidence of Subjectivism and Opportunistic Unethical Behavior of Managers
Mohammad Hassani Amir Hossein Haji AmiriUnder a challenging business environment, assessing the managerial decisions about earnings forecasting and earnings reporting is important and the evidence indicates the occurrence of managers’ subjectivism in these areas. In this regard, analyzing the managers' MoreUnder a challenging business environment, assessing the managerial decisions about earnings forecasting and earnings reporting is important and the evidence indicates the occurrence of managers’ subjectivism in these areas. In this regard, analyzing the managers' behavior about earnings forecasting and earnings reporting can be explained through the signaling approach and opportunistic approach. This study assessed the relationship between optimism & pessimism biases in management earnings forecast and financial reporting distortion by focusing on managing the reported earnings to determine which of these approaches prevails in the surveyed firms. Management earnings forecast biases are measured using the pattern proposed by Cheng & Firth, (2000); also, the model presented by Dechow et al (1995) is used to assess the management incentives to manage earnings using discretionary accounting procedures & estimates.Research samples include 198 firms listed in Tehran Securities & Exchange over the period 2012-2018. Using multivariate regression models based on panel data, evidence indicated that there is a meaningful and positive relationship between management earnings forecast bias and financial reporting distortion using the earnings management based on discretionary accruals. This result indicates an interest conflict and occurrence of unethical opportunistic behavior due to the high subjectivism of managers. Also, the type of optimistic and pessimistic bias in management earnings forecast is meaningfully related to accruals-based earnings management; so, the motivation of managers to manage earnings in an optimistic situation is more than pessimistic. In addition, results of the test for equality of means between series showed that there is a meaningful difference between the means of earnings management based on discretionary accruals in optimistic and pessimistic earnings forecast situations. Manuscript profile -
Open Access Article
5 - تأثیر خطای پیشبینی سود مدیریت بر پایداری اجزای نقدی و تعهدی سود و ارزشیابی بیش از حد سهام
محمدرضا نیکبخت علی قاسمی محمد ایمانی برندق -
Open Access Article
6 - The impact of stock option pricing model and the quality of earnings and profits
جواد Moradi زهرا TahmoresIn this study, we examine the relation between earnings quality and earnings pattern and pricing of listed companies in Tehran Stock Exchange (TSE). We try to find the answer for this question "is there any direct and positive relation between earnings pattern and prici MoreIn this study, we examine the relation between earnings quality and earnings pattern and pricing of listed companies in Tehran Stock Exchange (TSE). We try to find the answer for this question "is there any direct and positive relation between earnings pattern and pricing?”. Earnings patterns which are used are "increasing annual earnings, meeting or exceeding management forecasts and smoothing". The numbers of statistic community are 430 companies in TSE. We 98 companies these statistic communities during 1379 – 1386 by restricting the companies that meet some crotieria for doing the research. We use the information Financial Statements, Rahavard Novin, Tadbir Pardaz and libraries archives. For testing the Hypothesises, Pearson coefficient of correlation and multi variable regression model are used. The results show that there is a direct and positive relation between earnings pattern (smoothing), earnings quality and pricing, while there is no relation between earnings pattern (increasing annual earnings and meet or exceed management forecasts) and earnings quality. Also, in this study we try to find patterns, effective for valuation of share prices. The results of testing the first hypothesis show that there is a positive and direct relation between earnings pattern (smoothing) and pricings and the second hypothesis confirms that the relation between other earnings patterns and earnings quality is negative and indirect. Our final analysis examines whether the pricing effects associated with earnings patterns are a function of the quality of earnings. The results show that earnings quality level has no effect on the relationship between earnings patterns and stock prices. Manuscript profile -
Open Access Article
7 - Bonding costs related to the quality of earnings and forecast error
علی Esmaeilzadeh علی MAERNOOSHThe Relation of Cost Sticky with Earning Forecast and Earning Quality Ali Esmaeil Zade Ali Mehrnoush (Received: 23/Dec/2013; Accepted: 22/Feb/2014) Abstract One of the basic assumptions that reflect management accounting change related costs associated with increased an MoreThe Relation of Cost Sticky with Earning Forecast and Earning Quality Ali Esmaeil Zade Ali Mehrnoush (Received: 23/Dec/2013; Accepted: 22/Feb/2014) Abstract One of the basic assumptions that reflect management accounting change related costs associated with increased and decreased activity level. But recently, with the assumption of bond issue costs, by Anderson and And his colleagues have discussed, in the sense that the increase in costs by increasing the activity level Most of the reduction in costs in exchange for the reduction in activity. The main objective of this study is that adherence cost studied in the Tehran Stock Exchange, and administrative expenses, selling, general and Total costs and cost of goods sold as samples were analyzed. Based on the results of listed companies in Tehran Stock Exchange for a period of 6 years the year 1384's to 1390, shows the increment in cost stickiness general, and administrative and selling expenses, general and Cost of goods sold decreased earnings forecast errors and Earnings Qulity. The results for the 84 firms in various stock is presented. Key Words: Cost Stickiness, Earning Forecast, Earning Quality, Related Costs. Manuscript profile -
Open Access Article
8 - The Relationship of Conditional and Unconditional Conservatism with Earning Anticipation amount
Mohammad Hossein Setayesh Hamid Reza RezaeiThe main purpose of this paper is review of the relationship between conservatism and amount of earning anticipation of companies accepted in Tehran stock exchange. For quantifying the conditional conservatism, we use two measures including negative coefficient of total MoreThe main purpose of this paper is review of the relationship between conservatism and amount of earning anticipation of companies accepted in Tehran stock exchange. For quantifying the conditional conservatism, we use two measures including negative coefficient of total voluntary(non-operational) accrual items to total assets and the proportion of net income before unexpected items to market value of stockholders equity. Likewise, for quantifying the unconditional conservatism, we use two measures namely the rate of book value to market value of net assets and negative coefficient of total accrual items total assets average. Research hypothesis studied on each industries level and total industry level. The findings imply that there was no significant relationship between including negative coefficient of total voluntary(non-operational) accrual items and anticipated earning in total industry level.Also, there was a significant relationship between the proportion of net income before unexpected items to market value of stockholders equity and anticipated earning in plant and equipment, electric and ceramic tile industries; but there was not a significant relationship between them in total industry level. In addition, there was an insignificant relationship betweenthe proportionof book value to market value of net assets andanticipated earning in electric and food-beverage industries and this hypothesis corroborated in other industries and total industry level. Eventually, the results represent that the negative coefficient of total accrual items to total assets average had an insignificant relationship on anticipated earning. Manuscript profile -
Open Access Article
9 - Investigating the relationship between Integrated Report Quality and earnings forecasting bias and Share Price Informativeness
Muhammad Vahdani Javad Muhammadi MehrAbstract Integrated financial reporting provides investors with a comprehensive understanding and insight into the company and reduces the costs of obtaining information, processing, facilitating and combining relevant and effective information, and ultimately raising MoreAbstract Integrated financial reporting provides investors with a comprehensive understanding and insight into the company and reduces the costs of obtaining information, processing, facilitating and combining relevant and effective information, and ultimately raising stock price awareness, improving information quality and facilitating more efficient capital allocation. The purpose of this study is to investigate the relationship between integrated financial reporting with earnings forecasting bias and stock price awareness. The statistical population of this research is all companies listed on the Tehran Stock Exchange and 167 companies in the period 1391 to 1399 have been selected by systematic elimination method. Also, to test the research hypotheses, a multivariate regression model based on composite data was used. The results of the first hypothesis indicate that there is a direct and significant relationship between integrated financial reporting and behavioral financial bias in stock price forecasting. The results of testing the second hypothesis showed that there is a direct and significant relationship between integrated financial reporting and accuracy of profit forecasting. Integrated financial reporting with disclosure of financial and non-financial information from the financial reporting process and corporate activity makes investors and analysts more accurate forecasts. The results of testing the third hypothesis showed that there is a direct and significant relationship between integrated financial reporting and stock price awareness. He said that by combining financial and non-financial information, the process of creating value for the company in the form of financial reporting makes the information content of stock prices informative and investors in stocks make optimal decisions according to rational investment theory. Manuscript profile -
Open Access Article
10 - Compare the performance of internal and comparative data analysis, genetic algorithm nonlinear techniques to forecast profitability
زهرا PurzamaniAlthough knowledge about how users of financial statements make decisions is limited, it certainly can be said that a part of decision-making relates to predictability of future profitability. Also, profitability is used as a basis for assessing the efficiency of corpor MoreAlthough knowledge about how users of financial statements make decisions is limited, it certainly can be said that a part of decision-making relates to predictability of future profitability. Also, profitability is used as a basis for assessing the efficiency of corporate managers. This study, with the aim of introducing an appropriate algorithm for predicting the profitability to the decision makers, by the top 24 financial ratios as independent variables, compares the abilities of internal and comparative data analysis in Non-Linear Genetic Algorithm in anticipating the future profitability of companies listed in Tehran Stock Exchange during the years 2002 to 2012. Results of tests indicated that prediction accuracy of internal data analysis in Non-Linear Genetic Algorithm (90.04%) was greater than that of comparative data analysis in Non-Linear Genetic Algorithm (72.85%). Manuscript profile -
Open Access Article
11 - The Relationship between the Product Market Competition and Information Asymmetry; Structural Equation Modeling Approach
اکبر کنعانی رضوان حجازی مهرداد قنبری بابک جمشیدی نویدSince 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 MoreSince 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
12 - تأثیر متغیرهای کلان اقتصادی بر سود آتی حسابداری
سید عباس هاشمی هادی امیری زهرا تیموری -
Open Access Article
13 - Relationship between Management Profit Forecasting Error and Adjustment of Profit Forecast with Corporate Accruals
Alireza Rahimi Aref Foroughi Majid AzadiAbstractNet profit and its adjustments are among the most valuable information used by investors. This study seeks to answer the question whether company conditions (ambiguity or inability to understand economic information) affect the relationship between forecasting e MoreAbstractNet profit and its adjustments are among the most valuable information used by investors. This study seeks to answer the question whether company conditions (ambiguity or inability to understand economic information) affect the relationship between forecasting error and adjustment of profit forecasting by management or not? For this purpose, first, the relationship between accruals (abnormal) and error and adjustment of profit forecast, test and then the effect of ambiguity and inability to understand economic information on the above relationship is examined. The research sample includes 91 companies listed on the Tehran Stock Exchange. Findings indicate that there is a positive and significant relationship between working capital accruals and abnormal working capital accruals with management forecast error, but there is a negative relationship between working capital accruals and abnormal working capital accruals wThere is significance. Also, conditions of ambiguity did not affect this relationship, but the inability to understand economic information strengthens this relationship.ith negative forecast and adjustment. Manuscript profile -
Open Access Article
14 - تأثیر عدم تقارن اطلاعاتی، عدم نقدشوندگی سهام و تمرکز مالکیت بر دقت پیشبینی سود
علی ذوالفقاری مهدی مرادی مهدی بهنامه زکیه مرندی -
Open Access Article
15 - The Study of the effect of Internal Audit Function Quality on Management Earnings Forecasts Accuracy
Yassaman Khalili davood Hassanpour ابولفضل مومنی یانسریManagement forecasts are disclosures made by companies to communicate information about their future performance to shareholders. These disclosures are voluntary and are intended to reduce information asymmetry between management and shareholders. Incorrect forecasts ca MoreManagement forecasts are disclosures made by companies to communicate information about their future performance to shareholders. These disclosures are voluntary and are intended to reduce information asymmetry between management and shareholders. Incorrect forecasts can be very costly for managers and question the credibility of managers and show managerial incompetence. The quality of the internal audit function reduces the likelihood of erroneous, biased, or incomplete information in management reports, which managers use to improve their earnings forecasts. Therefore, in the present study, the effect of internal audit function quality on management earnings forecasts accuracy was experimentally tested. To test the research hypothesis, the financial data of the firms listed in Tehran Stocks Exchange during the time period 2018-2022 was used, so that after applying the restrictions in this research, the final sample consisting of 136 firms was selected. After measuring the research variables, multivariate regression analysis based on panel data estimation was used to test the research hypothesis, and the results of the statistical tests showed that there is a positive and significant relationship between internal audit function quality and management earnings forecasts accuracy. Manuscript profile -
Open Access Article
16 - Peer Companies Performance and Earnings Management: The Effect of Capital Market Pressure Peer Companies Performance and Earnings Management: The Effect of Capital Market Pressure
reza kordestani سیده آمنه جعفری سوق Abstract Financial analysts and investors use the performance of peer firms for valuation and investment decisions. Since managers know that their performance is compared to peer’s firms, they have enough incentive to earnings manipulation. Therefore, the More Abstract Financial analysts and investors use the performance of peer firms for valuation and investment decisions. Since managers know that their performance is compared to peer’s firms, they have enough incentive to earnings manipulation. Therefore, the purpose of the present research is to investigate the relationship performance of peer firms on earnings management. Based on analysis of archival data of 114 firms listed in TSE, the findings show that there is a positive and significant relationship between performance of peer firms and earnings management. That is, the high performance of peer firms leads to increased discretionary accruals. In addition, change in earnings forecast per manager share has a positive and significant relationship with peer firm performance. Also, there is a significant relationship between the criterion of earnings forecast and performance of peer firms. Therefore, managers in response to the performance of peer firms and under the capital market pressure, manipulation of accounting earnings. This study focused more on the impact of peer firms and their performance on the quality of financial reporting. In addition, earnings management studies in the scope of motivation is broaden. Manuscript profile -
Open Access Article
17 - The Mediator role of Information Asymmetry in Imperfect Competition Market on the relation between Earnings Forecast Bias & Idiosyncratic Risk derived from Capital Assets Pricing Model
Mohammad Hassani Sanaz MoradiTheoretically, firms should reduce information risks to provide a transparent environment for different groups in capital market to make decisions. Therefore, identifying potential risk factors is important. This paper investigated the impact of earnings forecast bias a MoreTheoretically, firms should reduce information risks to provide a transparent environment for different groups in capital market to make decisions. Therefore, identifying potential risk factors is important. This paper investigated the impact of earnings forecast bias and information asymmetry in imperfect competition market on the idiosyncratic risk. It is used the standard deviation of residuals extracted from capital asset pricing model to measure the idiosyncratic risk. Earnings forecast bias is measured based on the absolute value of difference between actual value and forecasted value of earnings per share scaled by the beginning stock price. In addition, information asymmetry is assessed based on the stock price bid-ask spread. Using filtering method, 147 firms listed in Tehran Securities & Exchange during 2013 to 2018 selected as research population. Research hypotheses analyzed through multivariate regression models. Research results showed that more earnings forecast bias lead to increase the idiosyncratic risk. In addition, high level of information asymmetry caused to increase the idiosyncratic risk. Also information asymmetry lead to strengthen the positive relation between earnings forecast bias and idiosyncratic risk. As a whole, firms with high level of earnings forecast bias & information asymmetry as inverse proxies of information quality which have worse information environment have more idiosyncratic risk. Manuscript profile
Sanad
Sanad is a platform for managing Azad University publications
Links
Related Centers
Technical Support
Official pages
The rights to this website are owned by the Raimag Press Management System.
Copyright © 2021-2024