Univrsity Of Tehran PressAccounting and Auditing Review2645-802011320040922--10458FAJournal Article19700101This 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.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.pdfUnivrsity Of Tehran PressAccounting and Auditing Review2645-802011320040922--10459FAJournal Article19700101Investing 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.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.pdfUnivrsity Of Tehran PressAccounting and Auditing Review2645-802011320040922--10460FAJournal Article19700101Some 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.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.pdfUnivrsity Of Tehran PressAccounting and Auditing Review2645-802011320040922--10461FAJournal Article19700101https://acctgrev.ut.ac.ir/article_10461_9885f6b6516871467a40e311e185024a.pdfUnivrsity Of Tehran PressAccounting and Auditing Review2645-802011320040922--10462FAJournal Article19700101Nowadays, 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.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.pdfUnivrsity Of Tehran PressAccounting and Auditing Review2645-802011320040922--10463FAJournal Article19700101This 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.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