فصلنامه مطالعات تجربی حسابداری مالی
پیاپی 57 (بهار 1397)

Classification shifting announced as new tools for earning management and become new subject for accounting research. In this article, we explore how classification shifting must measure and probe position of this tools in listed companies at Iranian stock exchange. For this purpose we gather data for firms from 2002 to 2014. Research results show that companies used classification shifting as a tools for managing earning. Also, research explore that this tools use in trade off position from other common earning management tools. In fact firms used in order real management, accrual management and lastly classification shifting. In addition, results show that financial crisis is important factor for using this tools

In this study, the effect of managerial ability have been studied on tax avoidance in the companies listed in Tehran Stock Exchange. The Indicators used to measure avoid paying tax are the book effective tax rate, the cash effective tax rate and long-run cash effective tax rate. The sample includes 122 companies listed in Tehran Stock Exchange for 87 to 93.  The results showed that there is positive significant relationship between managerial ability and the three proxies used to avoid paying taxes. This means that higher ability managers engaging in more tax  avoidance  activities  that  reduce  their  firms’  cash  tax  payments. On the other hand, the results indicate that firms have good performance, managers with a high level of ability engaging in less tax  avoidance  activities. In general, the results show that in addition to the features of the firm, managerial ability influences the tax avoidance behavior of the firm.

According to economic theory, industry-wide component of firm performance is more persistent than the firm- specific component. This paper provided evidence on this assertion and examines the relative persistence of industry-wide profit and firm-specific profit. For this purpose the information of 135 companies from 12 industries in the years 1386 to 1393 were used. Consistent with the predictions the results showed that the industry-wide profit is remarkably more persistent than firm-specific profit. Also the industry-wide profit and the firm-specific profit were analyzed to cash flow and accruals. The study of these four components showed that the industry-wide cash flow was the most persistent component and the firm-specific accruals is the least persistent. Moreover the whole industry was divided into two groups of similar and dissimilar and the persistence of industry-wide profit and firm-specific profit were examined in the groups. As a result the industry-wide profit in similar group was more persistent than that in dissimilar group. In addition similarity or dissimilarity has no effect on persistence of firm-specific profit.

In the present paper the relationship between managerial ability and investment inefficiency has been investigated using financial information of 76 Tehran stock exchange listed companies for a six year from the beginning of 1387 to the end of 1392. Managerial ability is defined as talent of individual or individuals who have undertaken the management of a certain organization, and investment inefficiency as renouncing investment on positive net present value projects or choosing negative net present value ones. In order to measure the managerial ability the model developed by Demirjian et al.(2012) and to measure investment inefficiency the Chen et al.’s expanded version (2011) of the model developed by Biddle et al. (2009) was used. The results of this investigation shows that, according to the review of literature, there is an inverse relationship between managerial ability and investment inefficiency; however, this relationship is not statistically significant

To explain the estimation of conservatism as a limiting covenant in accounting, the current paper discussed Basu (1997) conservatism model and Nichols (2010) generalized conservatism model and examined the problems about these models  as regards the validity and generalizability of the results of the research on this topic .Accordingly, the discussed problems were explained and the solutions for solving these problems and upgrading the model to estimate conservatism were presented. The data from 2006 to 2016 on 87 corporations were used to carry out the investigations. Also, in addition to the static routine estimator, the dynamic panel estimator (the GMM-sys method) was used to test and estimate the models. The current research results revealed that the new modified conservatism estimation  model yielded more appropriate results than the original Basu model and Nichols generalized model. Moreover, it indicated that the dynamic method of model estimation is more suitable than the static one. Finally, the current research showed that the results of the previous research conducted using Basu model to measure conservatism should be considered more cautiously and their application in the capital markets calls for re-examination

Several studies in Tehran Stock Exchange have examined the effect of audit quality on investment decisions in the market, but toward most of these studies are based solely on the principle of rationality of economic agents and documentation of the relationship between audit quality and stock price and the direct reaction of the market to the audit quality criteria are indicative of the effect of audits on the investors' decisions and rarely examine the role of independent auditors on the emotional behaviors investors in the market. So, this paper the main purpose is investigating the effect of moderating audit quality on investor sentiment in stock pricing. In this study, to measure the audit quality, it has been used the observable variables such as the type of audit opinion, audit size and investor sentiment was measured by using five criteria of microeconomic and two macroeconomic criteria. For this purpose, sample of 560 years-company, during the years 2009-2016 was investigated using modified multivariate regression. The results show that the auditor's reports strengthens investor confidence to accounting information and affect the investors' sentiment in stock pricing, but the size of the auditor is not moderating and has no effect on the investors' sentiment in the capital market.

The purpose of this study is investigating the role of accounting information uncertainty on investors’ reaction to earnings announcement, as well as investors’ reaction to good earnings news. For doing so, a sample of 162 listed companies in the Tehran Stock Exchange in the period 1384 to 1394 have been selected. Three criteria including information quality, cash flows’ uncertainty (traditional and matched- firm method) were used for calculating the information uncertainty. The results of hypotheses test indicated when there is high information uncertainty (compared to low uncertainty), investors’ reaction to earnings announcement is less. Also, under high uncertainty, investors display less reaction to good news that this response is consistent with the conservatism approach.