مجله بررسی های حسابداری
پیاپی 9 (زمستان 1394)

Evidence suggests that the cost of equity capital in the path of corporate life cycle shows a non-linear model. In this context, the purpose of the current study is to investigate the impact of corporate life cycle on cost of equity capital in listed firms in TSE. The sample of the study consisted of 105 companies during the 1385 to 1392. In order to test the hypotheses, panel data multiple regression analysis has been used. The results suggest that during introduction and decline stages there is no significant relationship between the corporate life cycle based on Dickinson criterion and the cost of equity capital, and the cost of equity capital during growth and mature stages is significantly higher compared with the shake-out stage. Also based on DeAngelo criterion, results show a significant relationship between the corporate life cycle and the cost of equity capital. This means that companies in growth and mature stages, compared with introduction and decline stages, have a significantly higher cost of equity capital.

Information asymmetry and the ambiguity in firms’ financial reporting can lead to the inefficient investments by managers. The inefficient investments decrease the shareholders’ wealth, too. One way to reduce information asymmetry and consequently increase the monitoring of managers’ behavior is providing the financial statements in a timely manner with greater reliability. In this research, the relationship between the total score of disclosure quality and its components (timeliness and reliability scores), and the efficiency of firm’s external investments (includes short-term and long-term investments) is studied in 168 firms listed in Tehran Stock Exchange between 2002 and 2013 time period. The research results show that the scores of timelines and reliability and the total score of disclosure quality are significantly associated to the efficiency of firm’s external investments.

This study examines the impact of stock illiquidity on managerial short-termism at listed companies in Tehran Stock Exchange. In this regard, 124 companies were evaluated for the period 2005-2013. We used Amihud (2002) criterion to measure illiquidity shares, and to measure the managerial myopia, abnormal real operations and real earnings management were used. The approach combines data used to test the hypotheses. The results of the testing indicated that the illiquidity has a significant and positive impact on abnormal real operations. This means that with an increase in liquidity risk, abnormal real operations are more likely to increase. The results showed a significant difference between the discretionary accruals and real earnings management in the impact on the illiquidity. This study follows the Gunny (2010), and Roychowdhury (2006) suspect firmm - years approach to address firms’ use of deviation from real operating for real earnings management purposes. The results showed that companies with high illiquidity experience real earnings management in the current year.

Cash flow of resources is essential for any economic unit and creates a balance between available cash and cash needs, the most important factor is the economic health of that unit. Since the liquidity situation is based on the judgment of many interested parties such as shareholders and investors about the position of the economic unit, therefore, predicting future cash flow is of utmost importance.In addition, providing the appropriate model to predict accurately with minimal deviation of accounting knowledge has been of interest to many researchers. The purpose of this research was to use neural network and multilayer perceptron and determine the best model by using commitment regression model to predict cash flow. For this purpose, two hundred and eighty seven companies in Tehran stock Exchange were investigated during 2001-2011. The results of the review of various neural network models suggest that the two structures with 8 and 11 hidden nodes, is the best model to predict cash flow.

The purpose of this study is to classify customers of banking network on the basis of credit risk with anticipating models and multiple indicators decision making. Because one of the major factors in banking is credit risk, therefore, banks are interested in decreasing the credit risk using different methods. Descriptive data were randomly collected from 385 customer documents (250 individual customers and 135 company customers) of Melli Bank of Iran. The results indicate that both models of TOPSIS and LOGIT can be used in classifying good and bad customers by managers of credit institutes; however, TOPSIS model can better estimate than LOGIT.

With the evolving new information about the events happening after the date of audit reports, some people unfairly change their judgment about the auditor’s decisions. It is called hindsight bias; the influences of the outcomes on the previously made decisions. This paper examines the hindsight bias of the users of audit reports in Iran. Data were collected through a two-step standard questionnaire during 2015. A number of 300 of auditors and non-auditors (including accounting students, investors, bankers…) from an unlimited society entered the study as the research available sample, from which just only 149 participants completed the research process. T-Test and Cramer's V Coefficient tools are applied in analyzing the research hypotheses. The study concludes that not only non-auditors but also the auditors (as professional audiences of audit reports) who are engaged in evaluating and judging the audit reports have shown hindsight bias. That is, all good (positive) and bad (negative) news about the outcome of auditors’ reports influences the judgment of the audit reports’ users.