seyed mohammad moshashaei

Related parties' transactions are one of the managers' most common opportunistic behaviors and always bring ambiguities. This kind of transaction may take away the rights of the minority shareholders and misuse the organization's economic resources for the benefit of a special group. Related party transactions are company transactions with persons or organizations affiliated with that company, Such as managers, board members, major shareholders, and subsidiaries. Transactions with related parties include buying, selling, and exchanging assets. In general, there are two different perspectives on the role and impact of related party transactions in companies: the perspective of transaction efficiency and the perspective of conflict of interest. Because related party transactions are difficult to audit and complex, companies may use these transactions to manipulate profits. This type of research shows that the quality of financial reporting is probably low in companies with more transactions with related parties. As a result, such companies will have to re-present financial statements. So, the related party transactions can be one of the factors affecting audit risk and auditors' acceptance of work. This study examines the effect of related party transactions on audit risk in companies listed on the Tehran Stock Exchange. The audit fee has been used as an audit risk indicator. Also, the moderating effect of the approved regulations on related party transaction disclosure has been examined. We make three main contributions: First, it leads to the expansion and development of the literature on research conducted in this field in the capital market of Iran. Second, considering that the regulations on related party transaction disclosure have not been examined within the scope of this research, this aspect is also innovative and can bring practical suggestions and research ideas for future researchers.  This research is applied in terms of purpose and descriptive correlation to answer hypotheses. The study's statistical population is all the companies listed on the Tehran Stock Exchange from 2006 to 2021. Using the screening method, the financial data of 112 companies were collected (1792 observations). A multivariate regression method based on panel data was used to test the research hypothesis, and Eviews software was used for data analysis. The results showed that related party transactions have a positive and significant effect on audit risk, and the approved regulations on related party transactions disclosure have caused a more significant impact of related party transactions on audit risk. These results argue that transactions with related parties have a positive and significant effect on audit fees, and the higher the amount of related party transactions in the studied companies, the more fees are paid for auditing because, in this case, auditors should make more efforts to reduce the audit risk caused by transactions with related parties. Because the existence of related party transactions increases the audit risk, identifying transactions with related parties and verifying the nature and volume of the transactions increases the auditors' risk, which increases the audit fee. In determining the audit fee, auditors consider the risk characteristics of their employer and cover the related risks through higher fees.  The result of this research confirms the conflict of interest view. Considering the positive relationship between related party transactions and audit risk, it is argued that the view of companies in doing transactions with related parties is based on conflict of interest and opportunism. Therefore, auditors consider audit risk at a high level and demand more fees for more effort to reduce audit risk. Also, regulations on disclosure of related party transactions positively strengthen the effect of related party transactions on audit fees. In other words, after the approval of the regulations on related party transactions disclosure in 2011, the effect of transactions with related parties on audit fees (audit risk) has increased. According to our research findings, independent auditors are recommended to consider the criterion of the value of transactions with related parties in determining the audit risk before acceptance and in the planning stage. Potential investors are advised to pay attention to the role of related party transactions in evaluating companies and making investment decisions. Also, it is suggested that the stock exchange organization should carry out sufficient supervision regarding compliance with the information disclosure requirements and the listed firms' approval of transactions with related parties.

This research examines the interest rate risk management, one of the most important risks in banks listed on to the Tehran Stock Exchange and the impacts that may have on the persistence and valuation of net interest income; Because most of the profitability of banks comes from this income. In the meantime, by presenting new criteria instead of the gap criterion (GAP), an effort was made to gain a better understanding of this banking practice in addition to helping banks manage this risk more effectively. The time frame of this research is 2003 - 2021 and the research method is correlation base. To test the hypotheses, unbalanced panel data and GMM and OLS regression have been used. The results of the research show the existence of a negative and insignificant relationship between the impact of interest rate risk management and the persistence of net interest income, and with the valuation of this income, an insignificant but positive relationship is seen. The obtained results indicate the existence of an obstacle called the mandatory determination of the interest rate, which prevents the effective management of this risk by the banks and prevents them from achieving stability in net interest income and, consequently, stability in profit and it deprives them of the increase in the valuation of their shares.

Making decisions to choose stocks and forming an accurate portfolio are always anxieties for investors. The primary purpose of this study is to evaluate and compare portfolios based on the fundamental strategies PE, PEG, PERG-SD, and PERG-Beta and find the best strategy for investing. Another goal of this research is to determine whether the strategies above can be superior to the TEDPIX index in the long term.

Our evidence includes 362 companies listed on the Tehran Stock Exchange from 2016 to 2023, and 110 have been selected as a research sample. The investment horizon in this study is three years (2021–2023), and investing is seasonal in the form of 12 seasons according to the mentioned strategies. The variable's value (strategy) is calculated for each strategy at the beginning of each season. All the companies are sorted from top to bottom based on the calculated variable (strategy) and divided into five equal categories. Then, for each portfolio category, investing was done at the beginning of the season. At the end of each season, the return and systematic risk of each category of portfolios were calculated. Finally, based on the risk and return of each portfolio, research hypotheses were tested using statistical tests (Wilcoxon and Friedman) and SPSS software.

The results showed that the return of portfolios formed by low coefficients (LOW) is higher than the return of portfolios formed by high coefficients (HIGH) and the TEDPX index in all four strategies: PE, PEG, PERG-SD, and PERG-Beta. Also, based on Friedman's test, the low PE strategy has the best performance compared to other strategies.

Originality/Value: 

This research fills a gap in the existing literature by organizing companies into five categories for each strategy, balancing portfolios seasonally, and analyzing the PERG strategy based on the nature of risk adjustment (systematic risk or total risk). These aspects have not been explored in previous internal research. Calculating the growth rate and systematic risk to evaluate these strategies differs from previous research. Moreover, no internal research has recently been conducted on these strategies, particularly during the research investment horizon (2021-2023). Given our country's ongoing political and economic changes (such as inflation, interest rates, the Corona pandemic, and the stock market crash in 2020), this research is crucial to confirm or challenge past findings in the highly dynamic investment environment.

Subject and Purpose of the Paper: This study aims to investigate the factors affecting innovation and performance in public sector organizations.Research The research ahead is applied in terms of purpose and a descriptive and survey in terms of method. The statistical population of this study was the employees and managers of the middle level of the Tax Affairs Organization of West of Mazandaran Province in the year 2020. To achieve this purpose, 127 people were selected as the sample. Structural equations used to test research hypotheses. Research The results of this study show that factors such as budget constraints and experience to achieve innovation in the public sector have a significant effect. Also, budget constraints, motivation to improve performance, reaction to poor performance, and experience have affected organizational performance.Conclusion, Originality and its Contribution to the Knowledge: The results of the present study show that the implementation of a participatory approach in public sector organizations can be effective in innovation and better performance of these organizations. Investigating the role of factors affecting innovation and performance can expand their assessment models and improve the performance of the organization and thus the government.

The purpose of this research is to examine the effect of audit committee financial expertise on the relationship between internal control weakness and audit fees. The statistical population of this research includes all firms listed in Tehran Stock Exchange during the period of 2013 to 2018. For this purpose, 163 companies in the Tehran Stock Exchange were selected. To test the hypotheses, regression method was used and data were analyzed using Eviews software.The results show that there is no relationship between internal control weakness and audit fees, but the financial expertise of audit committee members has a moderating effect on the relationship between internal control weakness and audit fees.Financial expertise of audit committee members has a moderating effect on the relationship between internal control weakness and audit fees. Given the effect of audit committee financial expertise on the relationship between internal control weaknesses and audit fees, it is important to consider the effectiveness of audit committees.

According to the Social Cognitive Theory, human behavior is influenced by individual differences and environment. Auditors’ Organizational Attitudes, that is, Organizational Commitment and Job Satisfaction can be effective on  audit quality improvement. The purpose of this study is to examine the effect of auditors’ individual differences on their organizational commitment and job satisfaction. For this purpose, according to the social cognitive theory, two criteria of internal locus of control and self-efficacy are used as auditors’ individual differences. The study is based on a survey of 252 certified public accountants working in Audit Organization and audit firms. Research hypotheses are tested using ordinary least-squares regression. The results indicate that auditors’ internal locus of control and self-efficacy has positive and significant effect on their organizational commitment and job satisfaction. These results reflect the importance of attention of authorities to individual differences of current auditors and applicants for recruitment in the Audit Organization and audit firms such as internal locus of control and self-efficacy.

Corporate governance is a set of methods, policies, and legal principles designed to mitigate agency problems arising from the separation of ownership and control within a company, corporate governance is a tool for balancing shareholders and managers, reducing the probability of agency problems. The purpose of this study is to analyze the mediating effect of dividend policy on the relationship between internal corporate governance mechanism and free cash flow. The statistical population of this research includes all companies listed in Tehran Stock Exchange during the period 2013-2018.For this purpose, 164 companies listed in Tehran Stock Exchange were selected. Regression was used to test the hypotheses and data were analyzed using SPSS and Eviews software. The results shows that board size has a positive and significant effect on free cash flow, but board independence and managerial ownership have no significant effect on free cash flow. Also, the mediation effect of dividend policy on the relationship between internal corporate governance mechanism (board size, board independence and managerial ownership) and free cash flow was not confirmed.

The purpose of this study is to examine the effect of Auditors’ Individual Differences on their Professional Commitment. Also, the mediation effect of Ethical Climate Fit has been examined.

According to the Social Cognitive Theory, two criteria of Internal Locus of Control and Self-Efficacy were used as Auditors’ Individual Differences. To measure the Internal Locus of Control, Specter's questionnaire and Self-Efficacy variable, Sherer and Adams questionnaire were used. Also, Professional Commitment and Ethical Climate Fit were measured by Araniya questionnaire and Victor and Cullen questionnaire. The study is based on a survey of 252 Certified Public Accountants working in Audit Organization and Audit Firms. Research hypotheses were analyzed using ordinary least-squares regression and Sobel Test.

The research results indicate that Auditors’ Individual Differences (Internal Locus of Control and Self-Efficacy) have positive and significant effect on their Professional Commitment. In addition, Ethical Climate Fit as a mediator variable enhances the relationship between Auditors’ Individual Differences (Internal Locus of Control and Self-Efficacy) and their Professional Commitment.

This result reflects the importance of the Ethical Climate in the Audit Organization and Audit Firms, which requires special attention of the authorities 9to this area.