فصلنامه دانش حسابداری مالی
سال دوم شماره 2 (پیاپی 5، تابستان 1394)

Appropriate framework for effective reporting، is something، despite of all efforts، less developed in the practical and operational dimensions. The study is based on the conceptual framework of accounting to account for suitable characteristics in developing a conceptual framework of non-financial reporting (NFR). The research kind is descriptive and has a survey method and the data is collected based on design and distribute a researcher making questionnaire، in a society of auditors، managers، masters'' and doctoral students of accounting، environmental and social activists and experts، and managers of governmental companies. The results shows، there is a lot of similarities between the conceptual framework of accounting and potential framework for NFR in objectives and in the qualitative characteristics of information. However despite of financial reporting، the importance of corporate non-financial reporting for environmental advocates and the government is more than other individuals and groups.

Accounting conservatism can serve as a mechanism to balance the interests of managers and shareholders and to reduce the effects of information asymmetry. Much of the research examining conservatism has been conducted in Anglo-American settings، in which ownership is typically widely dispersed. In Asian countries، such as Iran، ownership structure tends to be more concentrated، and state owners are more prevalent. In this paper، we examine the relationships between ownership structure and conservatism in Iran. Three ownership structure issues are examined: the influence of the largest shareholder، whether the largest shareholder is the government، and the power and governmental status of minority shareholders. The research population takes all the companies listed in Tehran Stock Exchange in the years 1381-1391. We find that conservatism is negatively associated with the percentage of shares held by the largest shareholder، and that this effect is particularly significant when the ownership percentage exceeds 30%. The results indicate that if the state is the largest shareholder of the company، such firms have less Level of conservatism than the other companies. Also، our results indicate that privately controlled companies in which the state owns a minority interest are more conservative than those without material state minority ownership.

One of the factors that led to stock price crash is managers’ activities to conceal bad news and negative performance inside of the company. This managerial behavior in addition to agency incentives could be due to a behavioral trait which is called the overconfidence. The purpose of this study is to determine the effect of overconfidence as a managerial psychological bias on the future stock price crash risk. In order to attain the research purpose، 117 companies among the listed companies in Tehran Stock Exchange during the years of 1383 to 1392 (2005 – 2014) were selected as statistical sample. Stock price crash risk was computed by utilizing the three criteria and the time horizon over the next two years، also، managerial overconfidence was calculated based on the concept of excessive investment. In order to test the hypothesis، multivariate linear regression model and panel data have been used. The results of this study indicated that Managerial overconfidence has a positive and significant effect on each three criterion related to the stock price crash risk. In other words، overconfidence in management can increase the stock price crash risk.

Selection the optimal capital structure and the method of financing، is the main concern of the financial manager. Inadequate capital structure، affect different areas of the company and can create problems such as inefficiency in the marketing of products، inability to use the manpower and the same result. On the other hand، several studies have shown that due to the problems of the traditional theory of capital structure، the factors affecting the issues of financing companies، the financial flexibility. This study examines the role of financial flexibility to adjust speed of corporate financial leverage. For this purpose، the companies listed in Tehran Stock Exchange، 108companies were selected and financial data for the years 1382 to 1392 were studied. The results indicate that for companies that are above optimal leverage، financial flexibility is not the main factor to adjust speed of leverage. But for companies that are below optimal leverage، a significant positive correlation is obtained with the adjustment speed of leverage.

The current study aims to investigate the effect of quarterly and annual earnings announcements on the abnormal market depth (representing information asymmetry). The dependent variable is the excess-depth and the independent variables are the excess-spread، abnormal trading volume and excess-volatility. To test the hypotheses، data of 97 listed companies on the Tehran Stock Exchange during 2009 - 2012 is used. Further، in order to testing of hypotheses a regression analysis employed. The results show that before the announcement، the Tehran Stock Exchange had a low depth and this is not only for the prior announcement period، so that after the announcement the low-depth is also observed. On the other hand، in the Tehran Stock Exchange، because of the more controls on annual reports، they are attracted by more investors and therefore a higher level of depth is visible during annual earnings announcement rather than quarterly. Also، the results show a significant correlation between the depth and the other independent variables around the earnings announcements.

Some incentives and firm characteristics can induce the managers that manipulate operating cash flow and this can causes that they involve in activities that can lead to incorrect allocations and threat shareholders wealth in long-term. This research provides evidence in relation with operation cash flow management and the role of firm characteristics on operating cash flow management. These characteristics include financial distress، debt cost and higher associations between stock returns and operating cash flow. Then، for hypothesizes test، by collection of financial data in 1387 to 1391 years about 80 listed companies in Tehran securities and exchange، we used of regression analysis. Results of research show that، in studied firms in Tehran stock exchange، when the firm is distressing، managers have incentives to manipulate cash flow for showing a good position. But، debt cost and higher associations between stock returns and operating cash flow are not effective incentives for managing the cash flow.

The present study has been investigated relationship between quality of financial reporting and information asymmetry under different firm riskiness and investor-interest. Kasznik model has been used as a measure of the quality of financial reporting and two alternative proxies have been used for information asymmetry: bid–ask spread (spread) and trading volume (volume) and for firm riskiness، technology of companies. The number of buying and selling by institutional investors as representative of the investor-interests to analyze company''s reports has been considered. with consideration of limitations for companies under research، 102 organizations that had accessible audited financial statements during the years 2009 to the end of 2013 were selected as statistical sample. The results show that in regular situations، meaningful and inverse correlation exists between quality of financial reporting and the information asymmetry based on spread but meaningful correlation wasn''t found with transaction volumes. Also investor-interest and risk dosn''t affect the relationship between quality of financial reporting and asymmetric information.