فصلنامه مطالعات تجربی حسابداری مالی
پیاپی 54 (تابستان 1396)

In this study the relationship between tax avoidance and tax risk was investigated by measuring tax risk based on uncertainty approach using data collected from 114 companies during the years 2009 to 2015. For this purpose, the lower effective tax rate (ETR) and non-steady tax situation over time is considered as tax avoidance and tax risk, respectively. The results show that a significant negative relationship exists between the effective tax rate and tax risk. It means that companies with lower ETR cannot continuously preserve their low level of taxes, and therefore their tax risk would be high. Hence, the policy of decrease in taxes due to its uncertainty is risky tax avoidance. This finding provides new evidence about the impact of tax policy on the overall company performance. The results also show that income fluctuation increases tax risk and tax risk of small companies is higher than the big ones. Moreover, the financial leverage can reduce tax risk due to consequential regulatory mechanisms. It is noteworthy to mention that the findings of this study can be used in risk assessment of the corporate tax policies.

One of the essential needs of Iranian financial market participants (including money market and capital market participants) is rating Iranian banks based on their financial strength. This rating helps stakeholders, including shareholders, investors, customers, central bank and etc., to obtain more accurate information regarding inherent safety and soundness of Iranian banks. The aim of this study is rating Iranian banks, based on financial strength, specifically those listed on the Tehran Stock Exchange (TSE) and Iran OTC market. All the banks were separated into two groups of privatized and non-governmental banks. The period of the research is 5 years from 2012 to 2016. For this purpose, first a financial strength score was determined for each of the banks using a reflective component-based model which includes 4 dimensions, 8 factors and 51 indicators, Then the banks were ranked based on their financial strength scores in two separate groups of privatized and non-governmental banks. The results show that privatized banks compared with non-governmental banks have higher financial strength scores. In the group of privatized banks, Mellat Bank had the highest score and hence the highest rank in terms of financial strength. In the group of non-governmental banks, Pasargad Bank, EN Bank and Parsian Bank, respectively had the highest scores and hence the highest ranks in terms of financial strength.

Earnings forecast accuracy can affect investment efficiency. We expect that an increase in earnings forecast accuracy will result in an increase in investment efficiency and a decrease in both over-investment and under-investment. The purpose of this study is to examine the relation between management earnings forecast accuracy and investment efficiency. Following the literature, we use the deviation from the expected level of investment considering the growth opportunities, as the measure of investment efficiency. To examine the hypotheses, we identify a sample of 133 firms listed on Tehran Securities and Stock Exchange during the period of 2009-2013.Regression analysis is used to examine the hypotheses and 10 control variables (size, ROA, Tobin’s Q, sales growth, leverage, stock return, forecast horizon, stdev. Stock returns, stdev. ROA and stdev. I) are used in the regression models. Findings suggest that there is a positive relationship between earnings forecast accuracy and investment efficiency and there is a negative relationship between earnings forecast accuracy and over-investment. In case of under-investment the relation is not strong. The results of examining hypotheses indicate that an increase in earnings forecast accuracy results in an increase in investment efficiency and a decrease in over-investment. Regarding the under-investment, no strong relation was found between earnings forecast accuracy an under-investment.

Dividend policy is one of the most important topics in finance literature; because dividend is one of the greatest cash payouts and the most important decision facing managers. Managers have to decide that what amount of earnings must be divided and what amount of earning must be reinvested in the terms of retained earnings. Dividend payouts affect institution’s ability to retain earnings for utilization in growth opportunities. It is obvious that managers have to consider maximizing shareholder wealth. Managers not only must decide about the amount of earnings to be reinvested, but also, they must notice the contingent effects of their decisions on stock price. So, managers have an essential role in setting dividend policy. This research investigates the effects of manager’s ability on dividend policy of Tehran Stock Exchange listed companies. This quasi-experimental research is in the field of positive accounting. We have applied Demerjian model for measuring manager’s ability and cash dividend for earning per share ratio for dividend policy. The sample consists of 82 firms from 2007 to 2015. The results show that manager ability and talents has a meaningful and positive relationship with dividend policy. Talented managers pay more divid.

The results of prior researches have shown that the performance of accounting education systems in universities does not meet the needs of the current complicated markets. The purpose of this study is to identify and document the needs and expectations of accounting and auditing profession (in regard to the new legal requirements) in order to provide opportunity for related authorities for revising the approaches and methods of accounting education in 1395-94. In order to collect the required data, a questionnaire was designed regarding the research nature and subject. It has three parts including: internal control system, operational auditing, and operational budgeting in the form of 63 propositions. Respondents’ opinion on the level of significance, meeting the needs of the profession by the university, and education periods of the mentioned parts were investigated using this questionnaire. The statistical population of this research includes auditors (partner, manager, senior supervisor, supervisor, and senior auditor) of the audit firms, which are a member of Iranian Association of Certified Public Accountants. Data was collected through descriptive statistics (mean and standard deviation) and inferential statistics (test t- Student, single example of independent, t-test, ANOVA test for non-parametric equivalent) and was analyzed using the spss software. The research results show that the university has not performed well in meeting the needs of the profession in the three mentioned parts and there is an expectation gap in this regard. In addition, these parts and related topics should be taught in the Master’s degree period.

highlighted the role of well-functioning financial systems in investing in different sectors of the economy. The financial systems facilitate the economic growth by aggregating the limited resources for enormous investments. Considering the important role of banks in financial systems and the significant impact of the Profitability of Banks on their activities, this paper empirically analyses the factors determining the profitability of 15 banks for the period of 1384 – 1393. It should be noted that the higher levels of profitability in banks not only enables them to grant further credit, but also facilitates the investment process in risky environments. According to the literature, we divided the factors into two groups: bank specific factors and macroeconomic factors. The results of examining hypothesis using panel analyses and Eviews software and the return on equity (ROE) as the profitability measure, indicate that there is a positive relationship between the profitability factors and the asset structure, revenue diversification, economic growth and inflation. In addition, capitalization, capital structure, size, industry concentration and interest rate have a negative effect on bank profitability.

Audit Committee is a key element of corporate governance. The knowledge and understanding of experienced Audit Committee members increase the Company's financial reporting and auditing value. The objective of this study is to investigate the impact of audit committee financial expertise on managerial short-termism in Tehran Stock Exchange listed companies. To measure managerial short-termism, we used three criteria: discretionary accruals and the actual items (through manipulation of sales and a reduction in discretionary spending). Tehran stock exchange listed firms constitute statistical population of the research. The sample consists of companies that had been listed on Tehran Stock Exchange before 2012 and have audit committee in the years 2013 to 2016. Financial expertise of audit committee members had no significant effect on earnings management on the basis of accruals. The investigation of the effect of audit committee financial expertise on real earnings management revealed that audit committee financial expertise has a negative effect on the real earnings management through manipulation the sales and reducing discretionary spending. These findings are useful for policy makers to formulate useful obligations regarding the Charter of the Audit Committee and the necessity of applying the principles of corporate governance and preparing voluntary corporate governance report.