ORIGINAL_ARTICLE
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This paper investigates the relation between earning quality and off-type dividend yields in those firms whose dividend has either increased or decreased. Earning quality has been measured based on: earnings predictability, earnings persistence and the relation between future operating cash flows and aggregate earnings or earnings components. Having controlled our information background, investment opportunities, manners of dividend receivers and also firms operating risk the results show that relation between earnings quality and market reactions is not statistically significant. A stock price reaction to dividend changes and unexpected earnings is positive and statistically meaningful.
https://acctgrev.ut.ac.ir/article_10458_4e976330e23108d9d9e30369d69c55c9.pdf
2004-09-22
Dividend changes
Earnings Quality
Market reactions
Off-Type Dividend Yields
Unexpected Earnings
دکتر علی
ثقفی
32995279
1
AUTHOR
غلامرضا
کردستانی
kordestani@soc.ikiu.ac.ir
2
LEAD_AUTHOR
ORIGINAL_ARTICLE
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Investing in company’s stock aims to maximize profits and the well-being of the investor. In order to reach this end, appropriate investment decisions must be adopted. One of the parameters and criteria used by investors in decision-making is the accounting information published by companies. Today, social accounting and reporting of companies is considered as an important approach in accounting, which can provide precious information to those who benefit form accounting information including the investors.
The objective of the present research is to find out whether the social accounting information provided to the investors, will affect their decision making or not and if it does, how much will the extent of this effect be.
The research findings show that reporting social accounting information will have between 26% to 38% effect on the decisions of investors. In other words, it can be said that social accounting information is effective in decisions of the investors, however, the degree of this effect is not important.
https://acctgrev.ut.ac.ir/article_10459_27391c8e65d19349603267ad2640cfb8.pdf
2004-09-22
considerable effect
decision-making
Investors
investors’ decision-making
Social accounting
دکتر محسن خوش
طینت
89434879
1
AUTHOR
حمید
راعی
75323378
2
LEAD_AUTHOR
ORIGINAL_ARTICLE
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Some researchers believe that the Economic Value Added (EVA) is the best measurement for firms’ performance evaluation. On the other hands, Biddle’ research shows that although EVA may be better than Cash From Operations (CFO), but some accounting performance evaluation measurements as Earning Before Interest and Taxes (EBIT) may outperform EVA. This paper is aimed to determine the correlation coefficients among the Economic Value Added (EVA), Earning Before Interest and Taxes (EBIT), Cach From Operations (CFO), and Share Market Value (MV). In order to determine the correlation coefficients and test the ability of EVA measure and compare it to EBIT and CFO, we have implemented an empirical study in the Tehran Stock Exchange (TSE). Results of the research (at the confidence level of 95% and using 221 year-company data from the TSE) clearly show that although EVA is more correlated to firms’share market values than CFO, but EBIT outperforms EVA. In the other words, the results completely confirm the results of Biddle’s research. It means that although EVA is a good economic measurement but it may be outperformed by some accounting measures as EBIT.
https://acctgrev.ut.ac.ir/article_10460_07dfb64af25d486ef20e39b7df445a2b.pdf
2004-09-22
Cach From Operations CFO)
Earning Before Interest and Taxe (EBIT)
Economic Value Added (EVA)
Share Market Value (MV)
TSE
دکتر علی اصغر انواری
رستمی
82328558
1
AUTHOR
دکتر رضا
تهرانی
38755362
2
AUTHOR
حسن
سراجی
16573245
3
LEAD_AUTHOR
ORIGINAL_ARTICLE
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یکی از اهداف گزارشگری مالی. فراهم نمودن اطلاعات لازم برای تفسیر وضعیت و ارزیابی توان سودآوری واحدهای اقتصادی است. از سوی دیگر. سرمایه گذاران نیز به دنبال حداکثر کردن ثروت خود هستند. صورت های مالی و یادداشت های همراه آن از مهم ترین منابع اطلاعاتی سرمایه گذاران برای تفسیر وضعیت یک واحد اقتصادی است. سود خالص از مهم ترین اقلام اطلاعاتی حسابداری برای تفسیر وضعیت واحد اقتصادی به شمار می رود. در سال های اخیر. و با توجه به سئوال های مطرح شده در مورد چگونگی محاسبه و به کارگیری سود خالص در ارزیابی عملکرد واحدهای اقتصادی. تلاش محققین بر ارزیابی توان تفسیر کنندگی سایر اطلاعات حسابداری نیز تمرکز یافته است.
هدف این تحقیق بررسی تاثیر اطلاعات حسابداری بر بازده غیر عادی آتی سهام است. تاثیر اطلاعات حسابداری بر بازده غیر عادی آتی سهام. با ویژگی کیفی مربوط بودن این اطلاعات ارتباط منطقی دارد. مربوط بودن اطلاعات حسابداری. شامل توان تفسیر وضعیت فعلی و پیش بینی وضعیت آتی واحد اقتصادی است. نتایج حاصله از این تحقیق نشان می دهد که اطلاعات مربوط به درجه اهرم مالی. اقلام تعهدی. نرخ بازده سرمایه گذاری.رشد دارایی ثابت. تغییر در وجوه نقد عملیاتی. ارزش بازار شرکت. نسبت بدهی به حقوق صاحبان سهام. هزینه استقراض و توزیع سود نقدی بر بازده غیر عادی آتی سهام تاثیرگذار است.
https://acctgrev.ut.ac.ir/article_10461_9885f6b6516871467a40e311e185024a.pdf
2004-09-22
accounting variables
Inter-organizational Users
Normal Stock Return
Off-Type Stock Return
Outer-organizational Users
دکتر نقی
بهرامفر
96798434
1
AUTHOR
سید حسام شمس
عالم
16967576
2
LEAD_AUTHOR
ORIGINAL_ARTICLE
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Nowadays, Investors, creditors, and managers need reliable and updated index to measure the stockholders’ wealth.
Having used these indexes, investors can decide on selling or keeping their shares, and creditor can analyze the risk of their investment and security. In addition, managers will be able to measure the performance of their companies.
In order to evaluate the validity of this kind of indexes at Tehran’s stock exchange, this research intends to investigate the relation between “created shareholder value added” on one hand and operational cash flow, operational profit, and economic value on the other hand.
Results of this research show that in those listed companies at Tehran’s stock exchange, the Eva (Economic Value Added) index is more reliable to forecast the created shareholder value, it Also shows shareholders how much role or influence has management had in their added wealth.
Generally, this research shows that the traditional accounting indexes are inadequate and cannot satisfy the investment markets and shareholders requirements. EVA is an index that is more useful to assess the management in terms of maximizing shareholder’s wealth.
https://acctgrev.ut.ac.ir/article_10462_132d31314c7f4e0a29b41e045d7db6ab.pdf
2004-09-22
Assessment Model Of Accounting indexes
Capital Cost
Created shareholder value
Economic Value Added
Indexes of Performance Assessment
فایق
صالحی
37227323
1
AUTHOR
دکتر ایرج
نوروش
41588857
2
AUTHOR
غلامرضا
کرمی
ghkarami@ut.ac.ir
3
LEAD_AUTHOR
ORIGINAL_ARTICLE
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This paper investigates the role of accruals on cash flow and profit relations in performance measurements of accepted firms at TSE. Generally, Management has some discretion over recognition of earnings. Therefore earnings will become less reliable and “Cash flows” would be more preferable. On condition that 1) the measurement period of cash flow and profit variable is short or 2) the changes in the firm’s working capital is great, those accruals that separate accounting profits from cash flows achieve more importance.
The results prove that the firm’s size has significant effect on the relation between earnings, cash flows and stock returns. However, the effect of industry type on the relation between earnings, cash flows and stock returns is yet unknown.
https://acctgrev.ut.ac.ir/article_10463_4397a887a94d63cc6004afb679a1da76.pdf
2004-09-22
Accruals
capital market
cash flows
Firm’s Size
Industry Type
performance measurement
Profit
دکتر احمد ظریف
فرد
13988468
1
AUTHOR
امین
ناظمی
92668824
2
LEAD_AUTHOR