javad nikkar

Cash flow forecasting has significantly increased since 2000 due to more attention paid by investors and financial analysts than before. If cash flows can be predicted appropriately, a significant part of the informational needs associated with cash flows will be provided. In this regard, this study aims to examine the impact of firm characteristics on predictable future cash flows from operating activities by employing present operating cash flow and profitability. Eight hypotheses were developed, and the information was analyzed for 127 firms listed on the Tehran Stock Exchange between 2011 and 2020. The regression model was tested with a fixed effect model using panel data. The study's findings showed that firm characteristics like size, level of competition, and level of supervision positively impact the predicting power of present operating cash flow and profitability in anticipating future operating cash flow. By contrast, the outcomes disclose that characteristics such as the company's life will not significantly affect the predicted strength of present operating cash flow and present profitability to forecast future cash flow from operating activities.

The purpose of this study is to investigate the effect of accounting concepts on the concurrency of stock prices in companies listed on the Tehran Stock Exchange. The concepts of accounting in this study include corporate social responsibility, tax avoidance, accounting conservatism, Political cost and corporate dividend policy. For this purpose, five hypotheses for compiling and data related to 131 member companies of the stock exchange for the period between 2010 to 2019 have been analyzed. The research regression model has been investigated and tested using a panel data approach with a random effects approach. The results show that the corporate social responsibility by increasing the level of supervision and accountability has reduced information asymmetry and information complexity, which ultimately has led to a reduction in stock price synchrony. Also, the results indicate that corporate tax avoidance and accounting conservatism have increased the level of stock price synchronicity due to their effect on reducing transparency and increasing information complexity. However, other results confirm that the company's political cost and dividend policy do not have a significant effect on the concurrence of stock prices. The results indicate that accounting concepts with respect to the effect that can have on the information environment of the company, the degree of corporate transparency and the level of supervision required as a factor affecting the level of stock price synchronization in companies listed on the Tehran Stock Exchange.

This study aimed to examine the effects of managers' optimistic and myopic behaviors on the asymmetry of cost behavior and various companies’ strategies in the firms listed on Tehran Stock Exchange (TSE). For this purpose, 8 hypotheses were developed and the data from 174 companies listed on TSE were analyzed for the period of 2008-2018. In this research, 3 strategies, including firm competitive strategy, corporate finance strategy, and corporate investment strategy, were used as proxies for the companies’ different strategies. To test the hypotheses, the panel data and fixed effects regression models were tested. The results showed that there was an asymmetric cost behavior phenomenon in the firms listed on TSE and the managers’ optimistic behaviors increased the severity of asymmetric cost behavior, but the myopic behavior did not have a significant effect on the asymmetric cost behavior. Also, the findings confirmed that the managers' optimistic behaviors affected the companies' competitive strategies and investments, but the managers' myopic behaviors had no effects on the companies' competitive strategies and investments. On the other hand, the findings indicated that the managers’ optimistic and myopic behaviors affected the companies' financing strategies. The results showed that the managers’ behavioral characteristics affected management of cost behavior and the companies’ different strategies.

The purpose of this research is to investigate the role of stock market development on the political and ethical aspects of management behaviors (including: optimistic, short-sighted behaviors, agency cost, profit management and political costs caused by managers' behavior) in companies listed in the Tehran stock exchange. For this purpose, five hypotheses for investigating this issue were compiled and data related to 140 stock exchange member companies for the time period between 2008 and 2021 (consisting of two capital market periods including 2008-2014 and 2015-2021). It was investigated and analyzed. The regression model of the research was examined and tested using panel data method with fixed effects approach and logistic regression method. The results of the research showed that among managers' opportunistic behaviors, optimistic behaviors, representation and profit management under the influence of stock market development in the second period of the capital market decrease more than in the first period and are affected by the increasing effect of stock market development. On the other hand, the results confirm that the short-sighted behavior of managers was not affected by the development of the stock market in the second period of the capital market compared to the first period. In addition, the results indicate that the political cost caused by the managers' behavior under the influence of the stock market development in the second period of the capital market decreases more than the first period, and under the influence, there was an increasing effect of the stock market development.

The aim of this study is to investigate the effect of Investor Sentiment on audit quality in companies listed on Tehran Stock Exchange. In this study, to review the audit quality criteria, five criteria have been used, including qualified audit reports, auditor fees and Auditor specialist, audit tenure and accrual quality. For this purpose, hypotheses were developed and data were analyzed for Companies listed on Tehran Stock Exchange during 2009 to 2018. The statistical population of the study, according to the circumstances considered for sample selection, is for the variable of auditor's modified report, audit tenure and Auditor specialist, including 169 companies, for the variable of accrual quality, including 164, and for the variable of auditor fees, including 61 Selected by Systematic removal method. The regression models using Panel data method with fixed effects approach and Logistic regression method reviewed and tested. The results of this study showed that the Investor Sentiment has a significant positive impact on the auditor's tenure and Discretionary accruals as lowering criteria for audit quality. Also, the results indicate that the Investor Sentiment had a significant negative impact on the qualified audit reports as increasing audit quality criteria. In addition, the results indicate that the Investor Sentiment does not have a significant impact on auditor fees and Auditor specialist.

This research is in the field of corporate governance and behavioral finance. Conflicts of interest between directors and shareholders create agency costs for shareholders' equity that are borne by shareholders. Two sources of this conflict are managerial optimism and managerial myopia. Managerial optimism is favorable if it is about the manager's personal ability or about market conditions, but entrepreneurs and executives are often hurt by optimism bias. On the othe hand, myopic managers avoid spending on activities that benefit the company in the long run, such as research and development, because of their attitudes toward short-term profits or other factors such as short-term institutional investors. Expenditures in research and development activities are serious drivers of innovation in the company that contribute to the company's competitive advantages and sustainable economic development. Accordingly, there is an argument that in the country's economic environment, regulatory stimuli including corporate governance, audit quality and competitive environment of the company can create transparency and effective supervision to cause a fundamental limit on managers' unethical behaviors such as myopic and optimistic behaviors.

for this purpose, According to different considered theories, six hypotheses are developed and data on 155 companies listed in Tehran Stock Exchange for the period between the years 2008 to 2017 are analyzed. In this study, a multivariate regression model has been used to analyze the test of research hypotheses. The research method using Panel data method with fixed effects approach and using logistic regression are tested. 

Findings showed that audit quality has a negative and significant effect on unethical behaviors of management and causes limitations in opportunistic behaviors of management. There is an argument that audit quality has a positive and significant effect on the quality of disclosure. Therefore, the higher the audit quality, the more accurate the estimates and monitoring. Also, the results confirm that corporate governance will reduce and limit unethical management behaviors by increasing the company's supervisory capacity. Stronger corporate governance, by closely monitoring and controlling managerial behavior and decisions, is a limiting factor in managerial biased behaviors and reduces overly optimistic and myopic behaviors. Managers of competing companies compete fiercely to maintain market confidence, and these managers try to gain more market trust with accurate predictions. Despite prediction based on theoretical backgrounf, the results indicate that the company's competitive environment has no significant effect on unethical management behaviors. 

According to agency theory, there is an argument that the interests of managers are not necessarily in line with the interests of other stakeholders, and managers are always trying to maximize their interests. On the other hand, regulatory mechanisms are at the disposal of other stakeholders to limit the unethical behavior of managers. The results of this study also support the argument that regulatory mechanisms limit the opportunistic behaviors of management because these mechanisms promote transparency and require managers to observe ethics in predictions and strategic decisions. On the other hand, the findings show that the competition mechanism in Iran has no effect on controlling opportunistic management behaviors.

Corporate social responsibility (CSR) is a fundamental factor for the survival of any organization. Companies and institutions are active in a society that provides them various opportunities to earn profits and realize their goals. The increasing importance of corporate social responsibility and the costs required by companies to operate and participate in these issue has led to the purpose of this study to investigate the impact of corporate social responsibility on the managers' behaviors in companies listed on the Tehran Stock Exchange. This study is based on purpose, application and data analysis in the field of causal descriptive studies. In this study, the reflection of managers’ myopic and optimistic behaviors is considered as managers' behaviors. Therefore, two hypotheses were developed to investigate this issue, and data from 174 listed companies were analyzed from 2008 to 2018. The regression model of the research was evaluated using a panel data method with a fixed-effects approach and logistic regression method. The result showed that the fulfillment of corporate social responsibility has a significant negative effect on the optimistic behavior of managers and decreases this type of behavior by managers. On the other hand, the results confirmed that accomplishing corporate social responsibility does not have a significant effect on managers' myopic behavior.

The aim of this study is the effect of cost structure and Uncertainty in future demand on Asymmetry of cost behavior in the Tehran Stock Exchange. For this purpose Three hypotheses are developed and data on the 105 companies in Tehran Stock Exchange for the period between the years 2007 to 2017 were analyzed. This regression model using panel data with fixed effects approach, reviews and tests. The results showed that behavior of costs Sticky that arising from the asymmetry in the behavior of costs in companies listed on the Tehran Stock Exchange there. In addition, the results showed that the relative level of fixed costs in the cost structure increased behavior of asymmetric cost the company and consequently, increase the Asymmetry of cost behavior. Also, The results show that the level of demand uncertainty increase the Asymmetry of cost behavior in the companies listed on the Tehran Stock Exchange..

Timeliness of financial reporting is one of the most important elements of the companies’ financial information quality and is related to the speed of financial reporting. The purpose of this research is to investigate the impact of corporate strategy, political costs, and management power on the timeliness of financial reporting in listed companies in Tehran Stock Exchange. For this purpose, hypotheses were developed and data were analyzed for 105 listed companies on Tehran Stock Exchange during 2009-2018 using an integrated panel data approach. The Results showed that regarding the impact of company strategy, only competitive strategies and company strategy with respect to future information increase the financial reporting timeliness. On the other hand, the findings suggested that a more systematic risk and size of the company, respectively, reduce and increase the Financial reporting timeliness. In addition, according to the findings of the research, it can be claimed that the Management ability as one of the power management indicators has a significant impact on the timeliness of financial reporting and higher ability will increase the financial reporting timeliness.

 The purpose of this study is to investigate the Logical Behavior of the Tehran stock exchange Based on the simultaneous failure of increasing and decreasing Long-term and short-term trends of performance criteria (including earnings per share, operating profit per share, operating cash flows of each share and Net growth of assets of per share adjusted by inflation( and Corporate Dividend. for this purpose, According to different financial theories, Six hypotheses are developed and data on 301 companies listed in Tehran Stock Exchange for the period between the years 1993 to 2017 are analyzed. The research method using Panel data method with fixed effects approach and using comparative tests reviewed and tested. The results showed that for the main hypothesis of the first and second, with the exception of the functional criterion, the net changes in the assets of each share, the information content of future performance and market reaction on the basis of the failure of long-term and short-term trends are increasing and decreasing for bad news is more than good news. In addition, for four main thirty to sixth hypotheses, the results show that the information content of future performance and market reaction do not follow reasonable and theoretical behavior to compare long-run and short-term patterns of failure of the performance criteria and Dividend, and Displays conflicting results. As a result, these four main hypotheses have been rejected

The aim of this study is to examine the Stock market behavioral reaction based on the failure of long-term and short-term decreasing trends of corporate performance criteria (including earnings per share, operating profit per share, operating cash flow per share and net growth of adjusted assets per share in term of inflation) in the time of dividend increases. For this purpose, six hypotheses are developed and data are analyzed by regression models using Panel data method with fixed effects approach. The sample consists of  301 firms listed in Tehran Stock Exchange for the period from 1991 to 2015. The results show that for performance criteria of earnings per share, operating profit per share, and operating cash flow per share, the market's positive reaction to simultaneous increase of functional and dividend criteria is higher for long-term patterns than short-term patterns. On the other hand, the results indicate that for the performance criterion of changes in net adjusted assets of per share, the positive reaction of the market to simultaneous increase of the functional and dividend criteria is insignificant for long-term patterns and short-term patterns. The results also show that the market reaction to the performance criteria of operating cash flow per share and operating profit per share is higher for short-term patterns than the two other functional patterns. In addition, the results indicate that the market reaction is not the same for long-term patterns and that the market reacts differently to any performance criteria, in contrast to the theoretical foundations.

The aim of this study is the effect of the product market competition on Investment efficiency in the Tehran Stock Exchange. For this purpose Four hypotheses are developed and data on the 118 companies in Tehran Stock Exchange for the period between the years 2008 to 2015 were analyzed. This regression model using Pooled Data, reviews and tests. The results showed that the measures considered in this study included the Herfindahl index and Hirschman, Lerner index, the index entry barriers to the industry and Tobin's Q index has a negative impact on investment efficiency. In addition, the indicators expressed as an inverse measure for the competition can be claimed, competition in the product market Regarding the effect of which has to create transparency in information and decision-making, Causing a significant positive impact on the Investment efficiency in companies listed on the Tehran Stock Exchange.

The aim of this study is to examine the effect of quantitative indicators of corporate social responsibility on financial and economic performance volatility in firms at Tehran Stock Exchange. By reviewing internal researchs related to corporate social responsibility and because of the importance of this area for developing economies to attract foreign investments, this study examined the impact of corporate social responsibility on financial and economic performance volatility in the financial reporting environment of Iran, by means of quantitative indicators extracted from the financial statements. For this purpose, ten hypotheses developed and data on 105 companies in Tehran Stock Exchange gathered and analyzed for the period between the years 2010 to 2017. The regression model using panel data with fixed effects approach was tested. The results showed that the ratio of the number of employees to total assets and the ratio of tax to total assets as indicators of corporate social responsibility would reduce the company's corporate financial and economic performance volatility. On the other hand, the results indicated that the ratio of fixed assets to total assets of the company, the ratio of the cost of R&D and advertising to sales and the ability of corporate governance as indicators of corporate social responsibility, have Insignificant effect on the company's corporate financial and economic performance volatility. Therefore, given the contradictory results obtained for the impact of corporate social responsibility on volatility of financial and economic performance, this area requires more research.

The aim of this study is to investigate the effect of Earnings Targets and managerial incentives on Intensity Cost Sticky In companies listed in Tehran Stock Exchange. For this purpose three hypotheses are developed and data on the 120 companies in Tehran Stock Exchange for the period between 1384 to 1393 were analyzed. This regression model using panel data with fixed effects approach, reviews and tests. The results showed that there is in companies listed in Tehran Stock Exchange phenomenon Cost Sticky and In case of the presence of incentives to meet earnings targets (incentives to avoid losses, incentives to avoid earnings decreases and incentives to meet earnings forecast), Intensity Cost Sticky is reduced. Additionally, managers for an amount equal declining sales, cut costs more aggressively in the presence of incentives to meet earnings targets than absent these incentives. Also, the results showed that motivation to meet earnings targets last year, Caused increase of Intensity Cost Sticky in the current period.

The aim of this study is to investigate the effect of investments in intangible assets in the explanatory impact of financial health and agency problems on the market value company's in the company at listed in the Tehran Stock Exchange. For this purpose five hypotheses are developed and data on the 120 companies in Tehran Stock Exchange for the period between the years 2009 to 2014 were analyzed. This regression model using panel data with fixed effects approach, reviews and tests. The results showed that the intangible asset helps to companies to create value. In other words, the results confirm that intangible assets the major driver for growth and value creation in many sectors of the economy. In addition, the results showed that intangible assets has a significant effect on the explanatory relationship between financial health of the company's (variable performance) and agency costs (profit distribution policy) on the company's market value. Also, the results indicate that the intangible asset on the explanatory impact other two variables (the solvency and debt) No significant effect on the market value of the company.

The aim of this study is to examine the dividend reporting information content in relation with future performance based on long-term and short-run incremental and decreasing trends of corporate performance Criteria (including earnings per share, operating profit per share, operating cash flow of each share and the growth of per share net assets adjusted in terms of inflation). For this purpose, four main hypotheses and sixteen sub-hypotheses are developed and data on 301 companies listed in Tehran Stock Exchange for the period of 1992 to 2015 were analyzed. The regression models using Panel data method with fixed effects approach reviewed and tested. The results of the research showed that for all performance criteria with the exception of functional criterion for the net asset value changes for each share (performance balance criterion), dividend information content in relation to future corporate performance is higher for long-term patterns than short-term patterns. So it can be argued that the information content of the future performance is higher for stable companies in terms of performance and distribution in terms of dividend, compared to less stable firms. Also, the results indicate that the amount of profit in each of performance criteria with the exception of the functional criterion for net asset value changes for each share (performance balance sheet), has a greater effect on decreasing and increasing dividends for long-term patterns than short-term patterns

The aim of this study isto examine the effect of the company's strategy (Including competitive strategy, investment strategy, financing strategy, company strategy based on past information, and company strategy based on future information) and managerial ability on asymmetric cost behavior. For this purpose seven hypotheses are developed and data about 106 companies listed in the Tehran Stock Exchange for the period between the years 2006 to 2015 are analyzed. Regression models using panel data approach are reviewed and tested. The results show that the investment strategy, company strategy based on future information and management ability increase the asymmetry of cost behavior.In addition, the results show that the company's competitive index and financing strategy variables reduce the asymmetry of cost behavior.On the other hand, the results indicate that the company strategy based on past informationand GDP growth have no significant effect on the asymmetry of cost behavior in companies listed in the Tehran Stock Exchange.

The aim of this study was to modify the model of conditional conservatism with regard to the effect of theory costs stickiness in listed companies on the Tehran Stock Exchange. So, in this research, models of Basu (1997), Khan and Watts (2009) and Lafond and Raychaudhuri (2008 were adjusted based on the impact of Cost stickiness theory. For this purpose, two hypotheses are developed. Required data were collected from a sample of 105 companies listed on the Tehran Stock Exchange during 2006 to 2015. The collected data were analyzed using panel data regression model with fixed effects approach. Results showed that the lack of control on costs stickiness in conservatism models, causes upward bias in estimation of conservatism. In other words, the adjusted model showed a more accurate estimate of a conservative measure. Also, results showed that conservatism estimates of changes in the standard model would be distorted, because of the lack of control on cost stickiness changes in listed companies on the Tehran Stock Exchange

This study is aimed to investigate effects of corporate social responsibility on sticky cost behaviour in firms listed in Tehran Stock Exchange. For this purpose, five hypotheses are developed and data on the 105 firms listed in Tehran Stock Exchange for the period from 2006 to 2015 are analysed. The hypotheses are tested by regression model using panel data with fixed effects approach. The results show that there is sticky cost phenomenon in firms listed in Tehran Stock Exchange. In addition, the results show that the ratio of employee number to total assets, the ratio of research, development and advertising costs to sales and the ratio of tax to sales, as indicators of corporate social responsibility, have significant positive influence on sticky cost behaviour. Also, the results indicate that the ratio of fixed assets to total assets and corporate governance ability, as indicators of corporate social responsibility, have no significant effect on sticky cost behaviour of Iranian firms.

the aim of this study is to investigate the effect of corporate governance measures on the disclosure timeliness of listed companies in Tehran Stock Exchange. The measures included managers ownership, board independence, board size and duality of CEO as internal measures as well as institutional ownership and concentration of ownership as external measures. For this purpose six hypotheses were developed and data on the 105 companies in Tehran Stock Exchange for the period of 1384 to 1392 (2003 to 2011) were analyzed. This regression model was tested through data integration. The results showed that the concentration of ownership and duality of CEO measure of corporate governance has a significant positive impact but management ownership has a significant negative impact on the timeliness of financial reporting disclosure. In addition, the results showed that the institutional ownership, board size and board independence had no significant influence on the timeliness of financial reporting disclosure.

The aim of this paper is to investigate the effect of changes in past earnings and dividends patterns on Information content of current dividend to predict future earnings and investigate relation between changes in these patterns with change in current dividend when earnings are decreased. For this purpose, two samples include 42 and 50 firms for investigating patterns in two subsamples are selected, pattern with two years and pattern with larger than four years. Time period were included from 1997 to 2013. The result showed that for the sample with larger than four years increase in past earnings and dividends patterns, decrease in earnings and dividend have more informative and with future earnings have higher significant relationship. Also, result showed that in sample with larger than four years increase in past earnings and dividends patterns, change in dividend pattern have higher significant relationship with current earnings. Generally, results showed that increase in past earnings and dividends patterns among companies that have decrease in earnings; Information content of current dividend to predict future earnings are increased and; Also, reduction in realized earnings and dividend policy are increased and earnings have more informative to explain of dividend reduction.

In recent years it has been hypothesized, that the amount increase in cost is not as equal as reduction in costs when observe reduction in activity level, which is commonly called the Cost Stickiness. After more than a decade introduction of costs stickiness phenomenon by Anderson et al, it seems that this topic can be analyzed from different aspects and hidden aspects. Therefore, in this regard, in the present study, the theories associated with the stickiness cost, features (including general and specific characteristics) using previous research and a library were reviewed and examined. Also, the relationship between Stickiness cost and some of financial accounting concepts included cost structure, demand uncertainty, incentive management, corporate governance and corporate social responsibility is discussed. At the end, some of the criticism in relation to concept of stickiness costs is provided. The results showed that attempts by researchers up to now have been mainly based on empirical evidence and there isnt strong theoretical background to identify the causes of stickiness costs. Therefore, future research should fill the gap between theoretical assumptions and empirical findings and provide significant implications of the cost stickiness concept to help decision-making process

The purpose of this study is review of cross sectional variation in cash flow asymmetric timeliness and its effect on conditional conservatism. In this study data from 120 firms in Tehran Stock Exchange for the period between the years 1384 to 1390 were examined. Regression model that used in this research is panel data method with fixed effects approach. The most common measure of conditional conservatism in accounting is asymmetry Timeliness in recognizing Profits and losses. Nevertheless، this measure combines both asymmetry timeliness of accruals and cash flows from operation. With respect to this that asymmetry timeliness of operating cash flow is not belong to the domain of profits and losses، Cause variation in the test of conservative. In this research and with respect to good and bad news show that asymmetry timeliness of operating cash flow cross sectionally is different with lifecycle variable of company (Size، age، growth and capital expenditure). The results show that conservatism is higher in the early stages of the company lifecycle.

One of the basic assumptions of management accounting suggests that costs changes are proportional relationship with decrease and increase activity levels. But recently these assumption discussions by Anderson et al. Means that increase in costs by increasing the level of activity decreases in the costs for the reduction in the level of activity. The main objective of this study is to evaluate the costs stickiness theory, the reasons for the outbreak, its types and its impact on other financial and accounting concepts. This study uses the results of previous research and the literature has addressed this issue. The results showed that the sticky behavior of the cost of standard cost, volume and profit is impressive. The results indicate that firm-specific characteristics on the severity of the sticky behavior are cost effective. Moreover, the results showed that the sticky behavior of the cost have impact on conditional conservatism and earnings predictability.

The aim of this research is to investigate the effect of audit quality measures on investment risk in companies listed in Tehran Stock Exchange. Audit quality measures in this study are audit firm size, audit specialist and audit tenure. For this purpose three hypotheses were developed and data of 120 companies in Tehran Stock Exchange for the period between the years 138 to 1389 were used. To test the hypotheses, multiple regression techniques and panel data methods were used. The results showed that audit firm size and audit tenure are significantly positive and audit specialist significantly negative impact on investment risk in companies listed in Tehran Stock Exchange.