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امید
پورحیدری
author
غلام رضا سلیمانی
امیری
author
محسن
صفاجو
author
text
article
2006
per
This study investigates the value-relevance of earnings and book values over time for securities listed on the in Tehran Stock Exchange (TSE). Our work is motivated by recent researches about value-relevance of earnings and book values in equity valuation includings Ohlson [12], and Collins, Maydew and Weiss [4]. Three set of finding are reported. First, the variable earnings have almost explanatory power in equity valuation. Second, combined value-relevance of earnings and book values is through of reported earnings. Finally, incremental value-relevance of reported earnings is higher than book value and book value has very little explanatory power in equity valuation.
Accounting and Auditing Review
University of Tehran
2645-8020
12
v.
4
no.
2006
https://acctgrev.ut.ac.ir/article_18447_b7c585ab317b931a8d0e20a819d1b6a1.pdf
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یحیی حساس
یگانه
author
محسن
قاسمی
author
text
article
2006
per
Accounting and Auditing Review
University of Tehran
2645-8020
12
v.
4
no.
2006
https://acctgrev.ut.ac.ir/article_18448_e3814c4a974105c7c36584c283094f58.pdf
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محمد عرب مازار
یزدی
author
شهناز
مشایخ
author
text
article
2006
per
Accounting and Auditing Review
University of Tehran
2645-8020
12
v.
4
no.
2006
https://acctgrev.ut.ac.ir/article_18449_f185a5a49df1fca55303f2497f017391.pdf
THE ROLE OF DISCRETIONARY ACCRUALS IN EARNINGS MANAGEMENT OF LISTED COMPANIES IN TEHRAN STOCK EXCHANGE (TSE)
بیتا
مشایخی
author
ساسان
مهرانی
author
کاوه
مهرانی
author
غلام رضا
کرمی
author
text
article
2006
per
The earning management literature attempts to understand why managers manipulate earnings, how they do so and the consequences of this treatment. These questions are the focus on a significant area of inquiry within financial reporting research. Operating cash flow is difficult to manage, unless firms intentionally front load or defer the recognition of cash accompanying revenue or expense. Therefore operating cash flow should be a good measurement of the firm's operating performance. So, it is expected, a bad performer has a strong incentive to employ income-increasing accounting strategies, while a good performer in general has relatively weak incentives to employ income-increasing accounting strategies. Therefore, it is expected that operating cash flow and discretionary accruals (as surrogate to earning management) represent a significant adverse relationship. So, relationship between these variables is examined in the period of 1381-1382 (estimation period) for TSE firms. For estimating of discretionary accrual Modified Jones Model is used and event period for this purpose is 1377-1382. The results show that TSE firms do earning management when operating performance is poor and they tend to choose income-increasing accounting strategies.
Accounting and Auditing Review
University of Tehran
2645-8020
12
v.
4
no.
2006
61
74
https://acctgrev.ut.ac.ir/article_18450_f45d253414d1aa75126c8fd6ed2080d2.pdf
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محمد
نمازی
author
جلال
شیرزاده
author
text
article
2006
per
This paper seeks to study, by industry type, the effect of capital structure on the profitability of the firms accepted in Tehran security exchange. To do this, we studied the firms whose financial statements (balances and inane statement) and required data were available for the period (1375-1379). A total number of 108 fi9rms from different industries were selected. Then we surveyed the data …….. the average of liability asset ratio and the return on equity ratio and the average of liability – asset ratio and the return on assets ratio for the five year period on a centralized and annual basis. Simple regression and correlation coefficient were used to test the hypotheses, and their significance was determined by using T and Z statistics. The results suggest that:
a) In general, there exists a positive relationship between capital structure and profitability, but this relationship is statistically poor.
b) The relationship between capital structure and profitability is also depended on the type of industry.
c) The relationship between capital structure and profitability in different industries depends on the definition of profitability.
Accounting and Auditing Review
University of Tehran
2645-8020
12
v.
4
no.
2006
https://acctgrev.ut.ac.ir/article_18451_8ef0cd277edf58a5422326183913e443.pdf
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ایرج
نوروش
author
علی ابراهیمی
کردلر
author
text
article
2006
per
Some researchers have classified institutional investors into two groups. According to them, the first group are investors that focus on short-term earnings and the second group include professional investors, who’s relative advantage is in gathering and analysis of more data regarding future earnings which is not refelected in reported income. Thus, as the number of this type of investors increases in the capital market, the share prices will reflect more information regarding future returns and therefore information asymmetry logically should decrease.
The purpose of this study is to provide evidence on the role of the second type of institutional investors in decreasing information asymmetry in Tehran Stock exchange. To conduct the empirical tests we obtained two distinct sample of invested companies. One with low and the other with high degree of institutional ownership. The result of our study showed that the latter companies reported more information related to future earnings than the former ones. Therefore, more information asymmetry is observed in the invested companies with low degree of first group of institutional investors. The intervening variables such as size, book to market value ratio and financial leverage were under control in our study.
Accounting and Auditing Review
University of Tehran
2645-8020
12
v.
4
no.
2006
https://acctgrev.ut.ac.ir/article_18452_ec94aa1bbc412b4b2180696e89525538.pdf