فصلنامه پژوهش های حسابداری مالی
سال هشتم شماره 1 (پیاپی 27، بهار 1395)

This article investigate how corporation using accounting standards in quantitative method. For this purpose, we make an index for measuring degree of principle and rule base oriented then explore behavior of this index in some variable that root in positive accounting theory. Result show that corporation with high political cost intend to use more rule based standards. In other hand corporation with more debt and management compensation cost try to using more principle oriented accounting standards. In addition, we find that with increase in financial constraint and crisis risk, corporation intent to shifting to using more principle based accounting standards. We used corporation data’s that exist in Tehran stock exchange during 2000 to 2015.

Increase unexpected fluctuation in cash flows is related to the conditions of growing competition for companies that have little market power. While companies with more market power have a higher ability to transfer cash flow negative shocks to consumers and access to smoother cash flows and therefore attract risk-averse investors. Lower risk of firms with market power; encourage them to engage in tax avoidance that can effect on the returns and stock price informative. So in this study, impact of product market power on returns and stock price informative and impact of tax avoidance on that were reviewed by regression analysis based on panel data of 86 companies listed on the Tehran Stock Exchange during the years 1383 to 1393. The results showed that product market power reduces the returns and increases the stock price informative. Also, different criteria of tax avoidance do not have a significant effect on the intensity effect of product market power on stock price informative, but in term of long term book rate, the impact of product market power on stock returns become more negative.

The purpose of this research is to determine the effect of financial statements comparability as one of the qualitative characteristics of financial reporting on stock price synchronicity. Stock price synchronicity is a criterion that has been used inversely to measure the information content of stock prices. In order to attain the research purpose, 86 companies among the listed companies in Tehran Stock Exchange during the years 1385 to 1392 (2007-2014) were selected as statistical samples. For analyzing data and testing hypotheses, multi variable regression model with compound data and mean comparison test have been used. Findings of research signify that financial statement comparability has a significant negative impact on stock price synchronicity. The results also show that in firms with lower synchronicity, information asymmetryis lower. Based on this finding, it can be concluded that financial statements comparability causes the higher level of firm-specific information to be reflected in stock prices.

Inventory represents one of the most important and complex assets to be managed at firm level as well as at macro economy level. Separation of ownership and management in new firms has led to different arguments regarding the relationship between the owner and the agent. Jensen and Meckling (1976) articulated this scenario as an agency relationship and argued that the agent (i.e., executive managers) will be a self-interest optimizer. Therefore, internal and external monitoring mechanisms are required to be executed to diminish disagreement in interests. The purpose of this study is investigating the relationship between board characteristics, industry level competition, firm life cycle and inventory management. The sample of this study, includes 155 companies listed in the Tehran Stock Exchange during the period 1385-1392. For processing and testing hypotheses, Fixed Effects Model and Estimated Generalized Least Squares (EGLS) methodology are used. Results show that board size, board independence and industry level competition have positive and significant impact on the inventory management. Also we find that the inventory management varies over the life cycle of the firm. Using Dickinson’s life cycle measure we find that the inventory management is more optimal in the growth and mature stages and more non-optimal in the introduction, shake-out and decline stages. Also study results show that positive relationship between board independence and inventory management is stronger for firms in the introduction stages.

This study sought to examine whether online stock trading on information asymmetry companies listed in Tehran Stock Exchange will have an effect or not? The statistic population of the study is comprised of the companies listed in Tehran Stock Exchange during 2010/9-2013/8 as the time-span of the study. The sample of the study consists of 117 companies for 36 months and it totally includes 4212 observations. For hypothesis testing, regression analysis and data from the test (EGLS) panel data using the software Eview’s 8 is used. The general result of this research indicates that online stock trading has a considerable negative effect on information asymmetry of companies listed in Tehran stock exchange. It is understood from the results that Online stock trading in the Tehran Stock Exchange on the one hand an increase in the number of traders and the subsequent increase in competition between them and the other hand to reduce transaction costs and adverse selection costs. This causes the reduction of information asymmetry companies listed in the Tehran Stock Exchange.

Prior research suggests that the Industry specialization on Auditors increase audit quality. Also, expected auditors through their information intermediary and corporate governance roles, decrease crash risk by decreasing agency costs, aligning interests of managers and investors, decreasing malfeasance by managers, improving operations, quality financial reporting. So, the aim of this study is to investigate the effect of Industry Specialist on auditor connection with accounting conservatism and stock price crashes of listed companies in Tehran Stock Exchange. For this purpose three hypotheses are developed and data on the 99 companies in Tehran Stock Exchange for the period of 1384 to 1393 were analyzed. This regression model using panel data with fixed effects approach, reviews and tests. The results showed that the concentration Industry specialization on auditor has significant positive impact accounting conservatism. Also the results showed Industry Specialist on auditor and Accounting conservatism has a signify cant negative impact stock price crashes. Briefly the results showed Industry Specialist on auditor has significant positive impact the relationship between Accounting conservatism and stock price crashes.