محمود موسوی شیری

The present study assesses the relationship between the audit expectation gap and reports' readability. The study method is descriptive-correlational based on released information from listed firms on the Tehran Stock Exchange during 2014-2020 using a sample of 128 firms (816 observations). The method used for hypothesis testing is panel data linear regression. The results from hypothesis testing show a negative and significant relationship between the audit expectation gap and audit report readability based on the text length index. However, no association exists between the total audit expectation gap and the report readability based on the Fog index. The relationship between the illogical expectations gap and the audit report readability based on the Flesch index was insignificant. The negative and significant relationship between the illogical expectations gap and the audit report readability based on the Fog index and between total audit expectations and audit report readability based on the Flesch index. Since the present study is carried out in emergent financial markets, like Iran, with a highly competitive audit market, it can provide helpful content to figure out the relationship between total and illogical expectations gap and audit report readability.

The purpose of this research is to investigate the effect of internal and external governance of companies on the dividend policy in companies listed on the Tehran Stock Exchange. be The number of 150 companies in the period of 2015-2022 from among all the companies admitted to the Tehran Stock Exchange have been selected as the research sample of the statistical community of the research, the statistical analysis is done using Eviuz software. In order to test the research hypotheses and determine the relationship between independent and dependent variables, econometric models have been used and the relevant hypotheses have been investigated using the multivariate panel regression method. The percentage of family members in the board of directors and dividend distribution. On the contrary, there is no significant relationship between managerial ownership and family ownership with dividend distribution.

Past studies have used various criteria to measure the quality of accounting information, each of which indicates a specific dimension of quality. The purpose of this study is to provide a framework for evaluating and comparing the criteria of accounting information quality including persistence, predictability and accrual quality in response to the motivational components of rewards, debt, policy and tax. This research is of applied type and has been done with correlation approach. The statistical sample of the research includes 163 companies listed on the Tehran Stock Exchange in the period 2009 to 2017. The collected data were analyzed by combined data and least squares regression. The research findings show that reward motivation has a significant relationship with all quality criteria of accounting information. In a way that with increasing motivation, rewards, persistence and accrual quality increase and predictability decreases. Also, the criteria of accounting information quality in response to management motivations have significant convergence, divergence and lack of relationship.

This study investigates the relationship between some criteria of information quality with stock liquidity risk and market risk. For this purpos, the effect of three criterion of information quality including accrual items quality, earnings forecast error and EPS announce timely on stock liquidity risk and market risk by collecting financial data of 148 firms listed in Tehran Stock Exchange for the years 2008-20113 were tested using regression analysis. The results showed that there is a significant relationship between all three criteria of information quality with stock liquidity risk. So that, accrual items higher quality, EPS announce more timely and earnings forecast less error decrease stock liquidity risk. Also, the results indicated that there is no significant relationship between none of the criteria of information quality with market risk.

This paper investigates the relation between disclosures quality and Stock return volatility in firms listed in Tehran Stock Exchange. To measure the disclosures quality, the paper uses firms rating by Security and Exchange Organization regarding the disclosures quality and to test the hypothesis it uses the linear regression. The sample consists of 80 firms listed in Tehran Stock Exchange during years2006 to 2011. The resultsshow that there is a significant and negative relation between disclosures quality and stock return volatility, but according to the adjusted coefficient of determination of three models and statistic Z Kramer, we can say that the negative relation is more intensive in the portfolio of firms with higher than the average disclosure score.

Based on momentum strategies (momentum), stock return has a particular behavior at various time intervals, and in the time horizon considered can to take the excess returns earn, by using an appropriate investment strategy, this view is contrary to the efficient market hypothesis.
This study examines the relationship between volume and its effects on the profitability of the momentum strategy in Tehrans Stock market. The hypothesis is that volume can affect the momentum strategy as well as the decisions of the investors in Tehrans stock market. The statistical society of the research consists of the total company active in Tehran stock exchange in the fiscal years 2008 to 2012.Our findings show that in most cases, momentum investing strategies, test portfolio in periods of three, six, nine and twelve months has had the best performance (win) in the majority of the maintenance periods (period three, six, nine and twelve months)to be continue to its better performance than a portfolio that in periods of three, six, nine and twelve months have been the worst performance (losers). The results also show that the volume of transactions (independent variable) and return (dependent variable) there is no relationship. While the excess market return (the independent variable) and the excess return on the winner portfolio (the dependent variable), there is a significant relationship.

Stock Exchange is an organized and official market for buying and selling companie's shares base on its own rules and laws. Many factors affect the views of the market parties and the company's stock price. Some of these factors are internal and partly due to factors outside the domestic economy. Paying subsidies is one of the important instruments that influence economic variables with a change in relative prices. In this paper we examine the impact of paying subsidies on the stock price and make abnormal return for oil products industry. Five companies in Tehran Stock Exchange have been selected as a sample. Financial information of these companies were collected from 2008 to 2013.Date of Cash subsidies were considered as independent variablesand creating unusual return and cumulative abnormal return was considered as dependent variables and an indicator for market reaction. The cumulative average abnormal returns compared and tested by Use of Event Study and statistical test (test t). The results showed that there is no significantdifference between the abnormal return on the stock for oil products industry before and after the payment of subsidies. On the other hand, the results showed that there is a significant and meaningful difference between average cumulative abnormal return before and after of cash subsidies.

The aim of this study is to predict the independent auditor selected by the Tehran Stock Exchange using the Heuristic Algoritms. The statistical research community includes all companies listed in Tehran Stock Exchange from 2005 until 2010 and the sample is 570 data from 95 corporations for six consecutive years. Data set in the hybrid model algorithm Particle Swarm Optimization with Imperialist Competitive, Artificial Neural networks Multi layered Perceptron and Simulated Annealing Algorithms for prediction of auditor's selection. The results show that all of algorithms determined total assets, current assets, account recivable and work in capital are important in auditor's selection. Other findings show that total debt and audit fee not important for auditor's selection. Other results show that non-audit fee, current rate, debt rate, leverage rate and capital in 2 of 3 algorithms are important in auditor's selection.

The stock price index represents the overall economic situation of a country. Therefore, predicting this index is important for investors. The aim of this research is predicting the stock price index changes of the Tehran Stock Exchange by using neural networks. In order to carry out this research, the data collected from the material industry and pharmaceutical products listed on the Tehran Stock Exchange during 2007-2013 have been used. Among 48 input variables, 10 input variables were selected by Particle Swarm Optimization Algorithm. This algorithm identifies an optimal combination of influential variables which include the independent variables of this research. Afterwards, the data relevant to the selected variables were inserted separately into the Firefly Algorithms, Radial Basis Functions, Multi-Layer Perceptron Networks, Imperialist Competitive Algorithm, and Adaptive Grid Scheme based on the Fuzzy Logic Systems, and then, these algorithms were taught. Next, the above mentioned algorithms have been tested by the estimated data; hence, the prediction error has been identified, and according to that, these methods have been compared. For this purpose, SPSS Software Version 11 and MATLAB Software Versions 6 and 7 were used. Applying the influential variables in the predicting of the stock price index changes in the used algorithms in this research can reduce the prediction errors of the stock price index in the material industry and pharmaceutical products. The results of the research show that the Imperialist Competitive Algorithm has a better performance in relation to the other algorithms. Moreover, the suggested algorithms, in general, have a high ability in predicting the stock price index, and the output data for Imperialist Competitive Algorithm indicate the correlation coefficient of 0.9404.

Review of financial literature shows that valuation of firms by financial market influences management behavior and corporate actions. This study is aimed to examine whether the firms faced with over-valuation may manage their information disclosure in websites. Therefore the hypothesis was designed in the form of the existence of relation between over-valuation and disclosure of financial information in web of firms listed in Tehran Stock Exchange. To test the hypothesis we gathered data of 83 firms listed in Tehran Stock Exchange in 2010-2012 and used correlation and regression analyzes (for each of the years and the cumulative two-year) and Mean difference test. The results show that there is a negative relation between over-valuation and disclosure of financial information in web of firms listed in Tehran Stock Exchange for each of the years and the cumulative two-year. In other word، the firms faced to over-valuation، for getting benefit of over-valuation tend to support the over-valuation and disclose less financial information of year that over-valuation is accrued.

In cash accounting basis، revenue are recorded during the period they are received، and expenses are recorded in the period in which they are actually paid. In accrual accounting basis، revenue and expenses are recorded when they are incurred. In Iran، the public sector uses cash basis in financial reporting which is not capable to compute cost of services and to do performance based budgeting. Therefore، universities of medical sciences of Iran used accrual accounting basis since 2005. The present study investigates information quality of financial reports provided in universities of medical sciences of Iran، as a comparison between accrual basis and cash basis. Sampling includes 150 financial managers and experts in universities of medical sciences of Iran at 2013. Research data have been collected by means of questionnaire containing 29 proposition 7-item Likert scale. Descriptive Kolmogorov and SMIRNOV tests were used to check normality of data distribution and also T test and variance analysis «ANOVA» were used. Results showed that there is a significant difference between prepared information from accrual and cash basis in some qualitative characteristics such as relevance، honesty، understadability، timeliness، comparability، traceability، predictability and validity.

Due to the effects of companies’ financial distress on stakeholders, financial distress prediction models have been one of the most attractive scopes in financial research. In recent years, after the global financial crisis, the number of bankrupt companies has risen. Since companie's financial distress is the first stage of bankruptcy, using financial ratios for predicting financial distress have attracted too much attention of the academics as well as economic and financial institutions. Although in recent years studies on predicting companies’ financial distress in Iran have been increased, but most efforts have exploited traditional statistical methods; and just a few studies have used nonparametric methods. Recent studies demonstrate machine learning techniques outperform traditional statistical methods.In the present study k-Nearest Neighbor classification method, derived from the field of data mining, is employed to predict financial distress of Tehran Stock Exchange listed companies during 2005-2008. Experimental results show that k-Nearest Neighbor is able to predict corporate financial distress with high accuracy.

The relationship between strategy, management accounting based control systems and performance has commanded significant attention in the accounting and management research domains. The main purpose of this study is to appraise whether strategic management accountings alignment with strategy can improve performance. Also, this study examines the impact of strategic management accounting and strategy on the performance. For processing and testing hypotheses, regression and clustering methods are used. The final sample used for this study consists of 41 companies listed in Tehran stock exchange. Also, data were collected using a questionnaire. Results showed that apply prospector strategy and costing techniques (a bunch of strategic management accounting techniques) improve the performance. Also, the findings reveal that strategic management accountings alignment with strategy improve the performance.

Introuduction: In the discussion of auditors’ independence, two aspects are under consideration: independence in appearance and independence in fact. Independence in appearance focuses on auditors’ relationship with client management from the third parties point of view and independence in fact is related to the auditors’ state of mind in the audit process: having an unbiased mental attitude (Bartlett, 1993) or maintaining an objective and impartial mental attitude (Sridharan et al., 2002) throughout the audit from planning the audit, gathering and evaluating the evidence to issuing the audit report. Particularly, in an auditor’s conflict of interest situation, taking an unbiased viewpoint (Arnes & Loebbeck, 1997)/maintaining an independent mind, in order to make a judgment free from influences of the conflict on auditor's utility becomes more important. The present study aims at examining the effects of two personality factors (ethical reasoning and belief in a just world) on auditor's competence in maintaining an independent mind in a conflict of interests situation Hypotheses: The aim of the study is to examine the interactional effects of cognitive moral development and belief in a just world on Iranian auditor's competence to maintain independence of mind in a dispute with client's management. The primary goal of the research is to examine the effectiveness of these two factors on Iranian auditor's independence; then the research progresses to study the direction and quality of the effect. Thus research hypotheses are developed as follows: H1. Auditor's personality characteristics (ethical reasoning and belief in a just world) influence auditors accede to client's management request. H2. Auditors with high level of ethical reasoning and strong belief in a just world, accede to the client's management request less than other groups of auditors. H3. Auditors with medium level of ethical reasoning and strong belief in a just world accede to the client's management request less than auditors with medium level of ethical reasoning and weak belief in a just world. H4. Auditors with low level of ethical reasoning and weak belief in a just world, accede to the client's management request more than other groups of auditors. The data required for the research were gathered through questionnaires distributed among members of IACPA. Three hundred questionnaires were distributed in two rounds and finally 182 questionnaires were collected; thirteen of them were incomplete and could not be scored; 169 questionnaires were complete and usable for the study. The questionnaire consists of a demographic information section and two other sections for measuring research variables: section "1. Audit Style" for measuring dependent variable, section "2.A. Personality Style" for measuring independent variable the belief in a just world and section "2.B. Attitude Toward Social Problems" for measuring ethical reasoning the other independent variable. With the aim of examining the effect of two personal characteristics on Iranian auditor's independence, a two-way ANOVA method has been used to compare the mean of dependent variable between six groups of auditors. The SPSS statistical package was utilized for running the analysis. There are two categorical independent variables in the research: ethical reasoning and belief in a just world which has respectively three levels and two levels. The first hypothesis was supported suggesting that the interaction of ethical reasoning and belief in a just world influences Iranian auditors professional decision making process and hence their independence of mind. The second hypothesis was not supported by the data. Auditors at post-conventional thinking and strong belief in a just world maintain independence of mind more than auditors at pre-conventional thinking; however their competence in maintaining independence is equal with auditors at conventional thinking. Research data did not support the third hypothesis. It suggests that the belief in a just world does not influence Iranian conventional auditor's response to the pressure of conflict of interests. In the other words, conventional auditors are not influenced by their perspective to personal consequences of acts and behaviors and maintain their independence regardless of the degree of belief in a just world similarly. The fourth hypothesis was not supported. Iranian auditors with pre-conventional thinking and weak belief in a just world maintain independence of mind less than conventional and post-conventional auditors; but they are still more independent than pre-conventional auditors who have a strong belief in a just world. Results indicated that ethical reasoning and belief in a just world have influence on independence of mind in Iranian auditors. Auditor's competence in resisting client management's request increases when ethical reasoning develops; though in a way that auditors at post-conventional and conventional levels of moral development have the same competence higher than pre-conventional auditors in maintaining an independent mind. This study found a positive association too; however auditors with post-conventional and conventional levels are equally influenced by their cognitive structure. The belief in a just world has not any determinant role in leading Iranian auditor's behavior and decision; rather it only moderates the effect of ethical reasoning and this moderating effect only appears in pre-conventional thinking. Iranian pre-conventional auditor's competence in maintaining an independent mind is influenced by their belief in a just world; so that having a weak belief in a just world makes them more capable of resisting management's request. The characteristic of pre-conventional thinking is to act by considering direct physical consequences of actions; an individual tries to avoid physical damage to self through obeying the laws and regulations. Auditors with strong belief in a just world believe that justice mechanism is so that they will be compensated according to their actions and behaviors. This belief goes to the same direction of their cognitive structure so they concentrate more on personal physical outcomes and consequences. Thus, in making professional decisions they put more emphasis on personal outcomes of a decision and show less independence of mind. The belief in a just world does not influence independence of auditors with conventional thinking. These auditors regardless of personal outcomes of the audit report remain similarly independent. Hence their personal belief about the just or unjust world does not influence their professional decision; they try to act up to the expectations of professional society. Iranian auditors with post-conventional thinking do not take effect of their belief in a just world in issuing an independent opinion. In this level of ethical reasoning auditors with a strong belief in a just world and auditors with a weak belief in a just world have same resistance to client management's request. Finally, considering the similar competence of post-conventional and conventional auditors and the great population of these two groups in the study, it can be said that cognitive structure of the majority of Iranian auditors is so that promotes their competence in ignoring conflict of interest's pressures and enables them to issue reports consistent with their real professional opinion.

In this study, we examine the existence of long range dependence using an estimation of fractional integration parameter in Tehran Stock Exchange by daily data prices of basic metals group between the 2006 to 2011. To calculate the “d” parameter (the Fractional Integration Parameter) we use analysis of the rescaled range (r/s) and analysis of modified rescaled range (MRS). But before that calculation, short-term memory in prices was removed through the regression of ARMA model and the residuals of these models have been used to test hypotheses and the existence of long range dependence. The results of testing in relation to the prices of basic metals time series show that the parameter of fractional differencing in R/S method and MRS method respectively were equal to 0.34 and 0.11 that confirms the existence of long-memory of the aforementioned index. Thus the hypothesis based on the existence of long range dependence of this variable will also be accepted.

On the first stages of appearance (fifth decade of 20th century) internal auditors were seen mostly as revisers of accounting and financial information. Step by step internal auditors are focusing on compliance audits, later internal auditors start to evaluate effectiveness of internal control system, assess operating processes and finally, nowadays, the scope of internal audit covers not only compliance audits, evaluating internal controls, fraud investigations, assess of operating processes, but also consultations to the senior management and participation in risk management. The main purpose of this study is to investigate the role of internal audit in enterprise risk management (ERM) in the companies listed in the Tehran Stock Exchange. The final sample used for this study consists of 43 companies listed in Tehran stock exchange. Also, data were collected using a questionnaire. The study results showed that internal auditors have low involvement in enterprise risk management (ERM) activities, but they are also engage in activities that could compromise their objectivity.

Researches show that if market value of stock in a firm exceeds its true value, this overvaluation affects the managerial behavior and corporation actions. This research provides evidence on the role of equity overvaluation on income-increasing earnings management in the future. For this purpose the impact of equity overvaluation on subsequent income-increasing earnings management is examined, using collection of financial data in the years 2004 to 2008 for about 60 listed companies in Tehran Stock Exchange, and using correlation analysis, regression analysis and mean-difference testing methods. Results of the research show that equity overvaluation has positive and significant relationship with subsequent income-increasing earnings management. Indeed in the studied companies in Tehran Stock Exchange, when stock would overvalue by the market, firms management tend to support valuation errors to access benefit of stock price rising through discretionary accruals manipulation.

In this research Multivariate Discriminant Analysis used as an effective model for pridiction of financial distress and noticed to ability of efficiency in improvement of model. At the first financial distress prediction model were designed base on Multivariate Discriminant Analysis by financial ratios variables of sample corporations in 1999 to 2008 years. Then for specifying ability of efficiency score variable in prediction of financial distress, we were designed financial distress prediction model base on Multivariate Discriminant Analysis with financial ratios and efficiency score. The results show that models are able to predict financial distress of production corporations in Tehran stock exchange two years prior to its occurrence. The results of two models and compare of them show that although efficiency score variable can better the results of financial distress prediction model but the different between accuracy predictions of financial distress in two models is not important.