فهرست مطالب vahid bekhradi nasab

Compliance with the professional ethics of the internal auditor is one of the most important factors that leads to an increase in the quality of the auditor's work through individual conscience. One of the factors that is affected by the professional ethics is the improvement of the control environment. Consequently, the aim of the research is to enhance the improvement of the control environment by using the principle of observing the auditor's personal professional ethics. Data collection was done using the internal audit reports issued by the auditing institutions that are members of the Certified Public Accountants Society of Iran during the period of 2009-2019. The sample size was selected based on the researcher's access to the internal reports of the auditing institutions and members of the public accountants community of Iran. Based on this, 76 companies affirmed by the stock exchange with internal auditors were selected. Also, data analysis was done by using least squares regression, in the light of the regression assumptions. The evidence indicates that the quality of human resources working in internal audit, except for the experience of the head of internal audit, the type and level of internal audit reporting, the size, independence and status of internal audit, the performance of internal audit due to the lack of membership of the CEO and the presence of a financial expert tend to have consistent effects on the enhancement of the control environment. However, the experience of the head of internal audit, the interaction of internal and external auditors, the effective combination of non-commissioned managers in the board ofdirectors, and the distinguishing the duties of the CEO from the head of the board of directors, do not have a significant effect on improving the control environment.

The relationship between auditing mechanisms and financial reporting has been investigated quantitatively in different time periods and in numerous researches. But the evidence shows contradictory results of the effect of supervision and auditor's role on the quality of financial reporting. Based on this, the role of the auditor's supervision on the quality of financial reporting was examined from the perspective of divergence and convergence. The method used is the meta-analysis technique for the years 2006 to 2019. The collection of researches is using the website of the Ministry of Science. Finally, eighteen studies were selected according to the availability of information and having the conditions of the investigated variables to implement the meta-analysis technique. The meta-analysis evidence showed that regardless of the contradictory evidence of the effect of internal and external audits of the auditor on the quality of financial reporting, the characteristics of the audit committee, the characteristics of independent auditors, and the characteristics of internal auditors have a positive and significant effect on the quality of financial reporting. Also, the corporate governance system has a moderating role on the relationship between the types of audits and the quality of financial reporting. Based on this, the present study, using the meta-analysis technique, has investigated the contradictions in empirical researches related to the divergence and convergence of auditor supervision and the quality of financial reporting.

This study aims to predict the aggregate of earnings and announcement returns with the help of this purpose, by a selection of Twitter social media as a media approved by the US Stock Exchange and Securities Organization, data related to 345 companies selected from the list of top 500 companies in the United States, for the four years 2016-2019 (Market participant tweets about sample companies from October 2015 to March 2020), extracted and used Was analyzed from Stata software. The results showed that the volume of earnings news published by companies on Twitter could predict earnings surprises, and the content of earnings news published by companies on Twitter can predict earnings surprises. The results also showed that the volume of earning news published by companies on Twitter could predict announcement returns and the content of earning news published by companies on Twitter can predict announcement returns. The results can also be considered a strategy in content analysis of market-quality news based on a list of specialized financial words.

Considering the highly competitive environment of companies, if a company cannot secure its necessary financial resources when needed, it may face challenges to continue its activities. In general, companies are concerned about their financing conditions from two aspects. Firstly, they are required to provide their financial resources sufficiently and at a low cost when necessary. Secondly, they need to pay off their debts. One of the factors that may affect the financing conditions of companies is political connections, which has received inadequate attention in the research literature. Having political connections is an important source of value for companies. Therefore, the purpose of the present study is to investigate political connections and whether or not and how this may impact on access to bank debts. For this purpose, 173 companies admitted to the Tehran Stock Exchange during the years 2016 to 2021 were investigated as the available statistical population. The findings showed that political connections have a positive effect on access to bank debts.

The relevance and usefulness of the information can be measured by the relationship between financial information, types of returns, and market value. This is the basis of the activities carried out in the field of evaluating value relationships. The concept of value communication is the ability of financial figures to summarize information under stock prices. Accordingly, the aggressive financial reporting motives reduce value communication. One of the reasons for the opportunistic actions of executives and the audacious financial reporting of Tunneling. Tunneling views are the collusion between major shareholders and management that is conducted through management transactions with affiliated entities. The identification and elimination of tunneling will help to improve the relevance and usefulness of financial statements and the relevance of financial information. Therefore, by choosing the best criteria for corporate governance mechanisms, good governance can be used as the best deterrent to tunneling. Accordingly, the purpose of this study was to investigate the ability of financial figures to summarize stock price information based on the tunneling approach using the role of moderating good governance. The statistical population of the study consisted of all listed companies in Tehran Stock Exchange during the period of 2009-2017. The sample size is based on a systematic elimination method of 158 companies. The research method is based on combined data and multiple regression. Evidence from research suggests that tunneling reduces the level of financial information relevance. Other results of the study are not that good governance has a reverse effect on tunneling. Good governance also undermines the inverse effect of tunneling on value ties. These results suggest the need for good governance in companies and the limitation of tunneling.

Financial reporting mistakes are under the influence of family ownership in companies and the impact of accounting distortions and mistakes on market response to profit announcement occurs more in family-owned companies compared to non-family corporations. Hence, as family ownership increases and when takeover risk from family control is high, the market response to profit division announcements declines. Thus, the company's response to the market is a common function of accounting methods and ownership. In this regard, the purpose of the present study is to review accounting distortions, market response to profit division announcements, and the threat of taking over the ownership of family-owned companies. The research statistical population consisted of all corporations accepted in Tehran Stock Exchange from 2009 to 2021. The research sample based on convenient sampling included 142 companies. The research method in the first hypothesis testing was logistic regression, and in the second hypothesis testing was least square regression based on mixed data. The results convey that by the increase of family control, accounting distortions decrease and the market shows positive response to the profit division announcements of family-owned companies. Another research result indicates the negative impact of takeover risk on the market response to profit division announcements of family-owned companies. The obtained results in this research are consistent with the referred documents in the theoretical framework and financial literature review. Accounting information with high quality plays a main role in designing mechanisms to decrease contradiction between different agencies among shareholders, directors, and foreign investors. Due to widespread family-owned corporations throughout the world, several studies have attempted to research the relationship between family ownership/control and accounting information quality. However, the obtained results from the current studies are not confirmed yet. Furthermore, there is still insufficient information on whether family control is effective on the reaction of investors to change accounting information quality and how it occurs.

The question for many corporate finance managers, especially start-ups, is what the financing pattern can do for such companies. This issue is controversial in the financing literature and its various techniques. Improving the performance of any business is the main desire of its shareholders and increasing the performance is a function of several factors. Accordingly, the present study seeks to investigate the impact of various financing techniques on the financial performance of start-ups and knowledge-based companies. The statistical population of this study includes all knowledge-based companies. The available statistical population includes 42 knowledge-based companies that have been accepted in different stock and OTC markets and their shares have been traded in the market in 2020. Research evidence showed that entrepreneurial financing, financing in the form of debt and financing, financing in the form of bank resources, financing in the form of risky financial resources, financing in the form of securities offering in off-market markets, Financing by offering securities on the stock exchange and financing by equity and debt method affect financial performance.

The aim of the current research is to investigate the behavioral factors effective on the promotion of Islamic tax compliance. According to the theory of logical response of planned behavior, today Islamic governance is one of the effective approaches to improve the efficiency of behavioral management in attracting the intention, attitude and mental norms of Islamic tax modi, and competent authorities are trying to identify the effective factors. on voluntary compliance, strengthen it in order to achieve the goals of non-governmental charitable organizations, which is to increase the collection of Islamic taxes. In promoting voluntary Islamic tax compliance, executive and legal factors are usually taken into consideration, and less attention has been paid to internal and psychological factors. The time period of the research is 2022. This is an applied and correlational research using a post-event approach. The source of receiving information is the questionnaire. In order to realize the hypotheses of the research, first, based on the questionnaire, the necessary information related to the hypotheses was collected and then with the help of binomial t-test, the hypotheses were examined using 352 completed questionnaires by the statistical population. The evidence indicates that new behavioral management approaches are effective on Islamic governance and the attitude and mental norms of Islamic taxpayers and their intentions have a significant relationship with Islamic tax compliance.

The purpose of the present study is to investigate the role of corporate governance system in reducing the probability of fraudulent reporting of financial statements of listed companies in Tehran Stock Exchange. Fraudulent financial reporting in the financial statements of companies listed on the Tehran Stock Exchange using unaudited audit statements, tax differences with the taxation area according to the Income Tax Savings Note and the tax filing clause, and the existence of annual adjustments with The significance and financial statements of the revised financial statements have been weighed. The corporate governance system is also examined from five dimensions. The size of the board of directors, the independence of the board of directors, the number of board meetings, the financial knowledge of the board of directors, and the separation of the board from the CEO as mechanisms of the corporate governance system have been studied and its impact on financial statement fraud. Therefore, due to the importance of fraudulent financial reporting in the financial statements and their effects, 183 companies were selected from Tehran Stock Exchange for a period of 6 years from 2009 to 2020,. The findings of the study show that the size of the board of directors, the financial knowledge of the board of directors and the separation of the role of the board of directors from the CEO did not reduce the power of fraudulent financial reporting.

Considering that today's competitive environment is growing and the movement of organizations towards complexity and dynamism has started, the ability to learn earlier and faster than competitors will be the only relative advantage in the next decade and should The prospects and long-term and short-term contributions of organizations should be examined in a different way, and creativity, innovation along with the use of current information should be an inseparable part of managers' decision-making, and only an organization can claim superiority and success that To use the capabilities, commitment and learning capacity of employees at all levels of the organization in the best way. Based on this, the current research has studied the Board influence on the role of environmental innovation in the success and stock price risk. The statistical population of the research is all the Companies listed in Tehran Stock Exchange to the stock exchange, the period from 2014 to 2019 and the sample is 153 companies. Based on the investigations, the findings showed that environmental innovation has a positive and significant effect on the company's long-term success, and with the Board influence in the company, the role of environmental innovation on the company's long-term success shows a better effect. Also, environmental innovation has a positive and significant effect on the company's success in the short term, and with the Board influence in the company, the role of environmental innovation on the company's short-term success becomes more colorful (intense). Finally, environmental innovation has a negative and significant effect on the Stock price risk in the long run.

The purpose of this research is to investigate the effect of the management accounting network and the strategic feelings of management accountants on strategic management with emphasis on the moderating role of organizational culture and information systems. It can help financial managers to make decisions in the value chain by using the participation of companies in the management accounting system. But unfortunately, despite the passage of time, the accounting techniques of strategic management are still unknown to financial managers and have led to the reduction of companies' participation in strategic decisions. The purpose of this research is to examine the effect of the management accounting network and the strategic feelings of management accountants on strategic management, emphasizing the moderating role of organizational culture and information systems. To study the theoretical foundations and examine the background of the research, a library method is used using Persian and Latin specialized books and articles and theses. The type of data used are quantitative and qualitative data, since the method of collecting information in each research is determined according to the type and nature of the research. In this research, two questionnaires are used. The research questionnaire consists of two parts, in the first part demographic questions are asked. In the second questionnaire, it is used to collect information related to strategic management accounting. The Likert method, which is a 5-point scale, was used to set up the questionnaire. Research evidence indicates that there is a positive and significant relationship between the management accounting network and the implementation of strategic management accounting practices. There is a relationship between the quality of information systems and strategic management accounting. Also, information systems moderate the relationship between the management accounting network and the implementation of strategic management accounting practices. There is a positive and significant relationship between innovation-oriented culture and the implementation of strategic management accounting practices. There is a positive and significant relationship between the result-oriented culture and the implementation of strategic management accounting practices. Innovative culture moderates the relationship between the management accounting network and the implementation of strategic management accounting practices. Results-oriented culture moderates the relationship between management accounting network and implementation of strategic management accounting practices .There is a positive and significant relationship between emotions and implementation of strategic management accounting practices. Information systems have a moderating effect on the relationship between emotions and implementation of strategic management accounting practices .Innovative culture has a moderating effect on the relationship between emotions and implementation of strategic management accounting practices. Result-oriented culture has a moderating effect on the relationship between emotions and implementation of strategic management accounting practices.

The purpose of this research is to investigate the non-linear effect of size and capital structure of companies on profitability in the framework of threshold panel regression in companies listed on Tehran Stock Exchange. For this purpose, 105 companies from different industries were selected as a statistical sample between 2010 and 2021. Hypotheses testing were analyzed under two scenarios: linear multivariate regression and non-linear multivariate regression (threshold panel regression method). Profitability as a dependent variable, capital structure and company size as independent variables and equity, sales growth and company life as control variables were examined. The results of statistical analysis showed that there is no significant relationship between company size and profitability in a non-linear mode. In the case of a threshold panel, the size of the company is known as the threshold variable and the capital structure is known as the dependent variable of the regime. The threshold value was estimated at 15.89, since the model has a threshold limit, so two different regimes were obtained for the capital structure variable. In both regimes, the relationship between capital structure and non-linear profitability is negative and significant. In this way, in the first regime, the capital structure up to the threshold value of the company's size reduces the profitability, and in the second regime, when the capital structure value exceeds the threshold value, the capital structure has less effect on the profitability and increases the profitability. It reduces less than before. According to the obtained results, the companies that are in the second regime have a more favorable capital structure and profitability than the companies in the first regime.

The emergence of a new theory of"macroaccounting" with a new wave of accounting research over the last decade tries to explain and use the Aggregate information of interim accounting statements in economic forecasts. Macroaccounting theory suggests that economists and macroeconomic forecasters use Aggregate accounting information at the macroeconomic level. For example, accounting earning is used to predict GDP, cost stickiness is used to predict unemployment, and the ratio of book value to market value is used to predict inflation. Earnings growth dispersion contains information about trends in labor reallocation, unemployment change, and, ultimately, aggregate output. initial macroeconomic estimates released by the Central bank of Islamic Republic of Iran and Planning and Budget Organization and Statistical Center of Iran do not fully incorporate this information. Accordingly, the present study, based on macroaccounting theory, has examined the Predicting Restatements in Macroeconomic Indicators using Accounting Information. The population of this study includes all companies listed in the TSE. Due to the seasonality of the data and the fit of the models in a time series, the observations reach 40 times (2008:1to2018:4). The research method is based on time series data, VARtechnique. the The results suggest that earnings growth dispersion provides related data about final GDP growth. The results suggest that after considering the effect of other influential factors, specifically real initial GDP, earnings growth dispersion is useful in forecasting future GDP changes. The findings are important for economists and policymakers to have more accurate economic estimation and prediction by applying for accounting Information.

Nowadays, due to the increasing complexity, the issue perceived organizational support and the need for organizational citizen behavior has been considered more, while the topic of the organizational indifference is one of the factors that can compromise the competitive position of the organization. Therefore, it is important to consider it. In this research, the relationship between perceived organizational support and organizational citizenship behavior through the role of organizational indifference as a mediation. has been investigated. This research is practical in terms of purpose and is descriptive-survey and correlation type in terms of nature.

The statistical population is established of employees of Isfahan Steel Tehnika Co., for collecting information on the subject literature, a library method such as books and scientific articles was used and for measuring variables of the model, a standard questionnaire with valid and reliable reliability was used. The sampling method is a randomized, proportional to volume volume. For data typing, the inventory includes descriptive statistics such as mean and for analyzing the data to confirm or reject the research hypotheses, we used inferential statistics and test structural equations and SPSS 22 software and Smart Pls 2.0 were used.

Findings of the research indicate that perceived organizational support influential is effective on organizational citizenship behavior and its dimensions. Also, perceived organizational support indirectly affects on organizational citizenship behavior through the role of organizational indifference as a mediate.

Analyzing the effect of perceived organizational support on organizational citizenship behavior by emphasizing the mediating role of organizational indifference is an important tool for translating employees' voices and considering their wants and needs, which was used for the first time in this study.

According to the theory of political economy, the focus of corporate executives should not be solely based on organizational interests and equity. Instead, they must be part of a moral affair in order to ensure the well-being, comfort, needs and interests of other sectors of society. Therefore, management decisions should not lead to damages, losses and harm to society and its people. The development of this framework is rooted in ethics in accounting. Therefore, the purpose of this study is to investigate the effect of accounting ethics on corporate social responsibility. The statistical population of this research is the official accountants in 2017, which according to the official account community of 2377, and the sample size based on the Cochran formula was determined from 331 individuals who were asked to receive 350 questionnaires in a healthy way and 337 questionnaires Healthy was received. 337 questionnaires were analyzed. Paired t-test and ANOVA were used to analyze the data using SPSS software version 22. Research evidence suggests that formal professional accountants, honesty and integrity, professional performance, independence and neutrality and the confidentiality of formal accountants increase corporate social responsibility. From other research results, it can be said that individuals with different characteristics have the same viewpoints as expressed. So, finally, it can be said that, with respect to ethics among official accountants, corporate social responsibility improves.

This study examines the relationship between analysts' forecasts of cash flow and pricing of accruals in companies listed on the Tehran Stock Exchange. Analyst forecasts of cash flow based on the random walk model and pricing accruals measured using the accrual anomaly is evaluated. Negative correlation between abnormal accruals and accrual component-efficiency refers futures. The overall goal of research analysts' forecasts depressing effect on cash flow anomalies are accruals. In order to achieve this aim during the period 1388 to 1392, as the sample size of 168 companies selected using systematic elimination. The sample size was intercepted and data collection and database software Eviews econometric estimation was conducted to test the hypothesis. Research evidence suggests that forecasts of cash flow anomalies accrual is reduced

This study investigates the moderating effect of the inflation rate on the relationship between asset revaluation and the financial statements of companies listed on the Tehran and Bombay stock exchanges. In this study, parameters including financial leverage, liquidity, firm size, fixed assets ratio, and firm growth and the data of 112 companies listed on the Tehran Stock Exchange (TSE) and 563 companies listed on the Bombay Stock Exchange (BSE) during the period 2015-2019 are used. Multiple regression is employed to test the research hypotheses to determine the relationship between the dependent and independent variables. F-statistic, F Limmer, and Husman tests are used to test the significance of regression models. The Generalized Least Squares (GLS) method estimates the research models. The results of testing the research hypotheses demonstrate that in both the Tehran and Bombay stock exchanges, without considering the role of the inflation rate, the revaluation of fixed assets is positively and significantly associated with financial leverage, liquidity, and firm size, fixed assets ratio, and firm growth. Moreover, considering the role of the inflation rate, inflation moderates the relationships between financial leverage, liquidity, firm size, fixed assets ratio, firm growth, and the revaluation of fixed assets.

The emergence of a new theory of "Macroaccounting" with a new wave of accounting research over the last decade tries to explain and apply accounting information in economic forecasts. The Macroeconomic theory suggests that economists and macroeconomic forecasters use accounting aggregate information at the macroeconomic level. For example, from accounting earnings to forecast GDP, from cost stickiness to forecast unemployment, from the ratio of book value to market value to predict inflation, and from the pricing model of capital assets Used for economic growth. The present study investigates the accuracy of GDP forecasting based on the comparative information of inflated and non-inflated accounting earnings aggregate. The statistical population of this research includes all companies listed in Tehran Stock Exchange. Macro accounting emphasizes economists' view of seasonal accounting for financial accounting. So the data are collected seasonally and observations are 40 times (2007:Q1-2017:Q4). The method is multivariable time series model with rolling regression. Also, for estimating the prediction accuracy, the methods of mean error magnitude, mean squared error and mean error percentage criterion are used. Evidence show that accounting earnings aggregate as well as depreciated accounting earnings increase the accuracy of GDP forecasts over future periods. Another finding of the study is the efficiency of predicting the accuracy of accounting earnings aggregate relative to accounting earnings depreciation. As a result, the spread of aggregate accounting erning growth reduces the forecasting error of GDP and reduces the high-speed GDP. A one-unit increase in the standard deviation of the quarterly growth of quarterly accounting earnings forecasts 0.94 GDP for future periods. The results also showed that GDP forecasts using depreciated Ernings with 7% error and inflated ernings with 10% error are the most appropriate forecasts for GDP.

The desire to "Whistle-Blowing" the independent auditor is a move by independent auditors to detect violations and report them to oversight bodies for remedial action. However, the lack of motivation and willingness to disclose the report of errors discovered by independent auditors and the lack of willingness to Whistle-Blowing among them, requires that in the present study to focus on the ethical decision-making process, so that auditors Be encouraged independently and try to be alert. This research is purposeful, applied and a combination of cross-sectional and correlational survey methods. The statistical population of the trusted auditing firms of Tehran Stock Exchange and the research sample includes 56 firms in2020that were selected based on availability. The research tool is a questionnaire and a scenario and the research hypotheses have been tested using the least squares model. The results of the study show the extent to which auditors consider themselves to be the ethical representatives of the client. In other words, research evidence suggests that an individual's attitude toward Whistle-Blowing, ethical acceptance by others and oneself, one's perception of behavioral control, commitment to independence, and individual responsibility in reporting have a positive effect on the willingness to Whistle-Blowing independent auditors. But the consequences of reporting for the individual have a negative effect on the willingness to Whistle-Blowing independent auditors. Also, organizational support, correlation, group, group norms, and ethical status. Relationship between individual characteristics of auditors and the individual's willingness to Whistle-Blowing independent auditors.

According to agency theory, when managers have good information about the existence of profitable investment opportunities, they may not pursue it, and this is important because of the ethical risk problems that result from owning the company's cash by management, myopia, and Choosing the wrong plan, as well as the lack of available funds due to foreign financing and facilities received, is costly. Conservatism reduces the problems of incorrect selection and improves the company's investment policies by facilitating access to foreign funds and reducing the cost of these funds. The conservative oversight role helps the board and other corporate governance components, such as institutional ownership, to avoid value-destroying strategies such as the empire of managers. Accordingly, the purpose of this study is the effect of qualitative characteristics of financial reporting on the efficiency of investment and facilities received, looking at companies with low investment and information asymmetry. The statistical population of the present study includes all companies listed on the Tehran Stock Exchange during the period 2014 to 2019. The sample size based on the available statistical population includes 95 companies. Research evidence suggests that among the qualitative features of financial reporting, in low-investment companies, accounting conservatism has a positive and significant effect on investment efficiency. Also, in companies with information inequality, accounting conservatism has no significant effect on investment efficiency and information asymmetry does not affect the relationship between accounting conservatism and investment efficiency, which information inequality, low investment problems Intensifies. Another result of the research is that in low-investment companies, the quality characteristics of financial reporting do not have a significant effect on the facilities received.

Micro-Businesses have resources constraints to start and develop a business and need access to resources beyond the business boundaries through relationships with Macro-Corporate. Macro-Corporate face a lack of flexibility despite access to financial resources. The solution to this problem is to use the capacity of development intermediary organizations. Accordingly, the present study has presented a model for accelerating the cooperation of Macro-Corporate with Micro-Businesses. The research method is based on the strategy of data foundation theory method with coding method and paradigm model of strauss and corbin. The statistical population of the research is business development experts and the sample of targeted research by snowball method includes 12managers, experts, professors aware of business development in the period of2021. The data collection tool was a structured interview and the focus group continued with the subject matter experts until the theoretical level was reached. The results showed that the basic category of cooperation in the pre-acceleration phase, the agile environment of cooperation in the acceleration phase and the gradual partnership of cooperation in the post-acceleration phase on the cooperation of Macro-Corporate with businesses. Wisdom has a significant effect.

The main purpose of this study is the relationship between prudential regulation of capital and banks' risk-taking with the moderating role of investment efficiency. The statistical population is all banks and financial institutions listed on the Tehran Stock Exchange. The research period includes the years 1391 to 1397. To achieve this goal, data from 20 banks were used. In this study, it has been shown that with investment efficiency, prudential regulations increase banks' capital and reduce their risk-taking. Prudential regulations also increase the prudential behavior of banks by reducing risk and increasing the capital of banks, which indicates that most of the country's banks in recent years have moved in line with regulatory frameworks and international regulations.

in the theoretical literature based on normal theory, dividend policy as a mediator is the intermediary between corporate governance and free cash flow. This requires empirical testing for users to confirm the mediating role of dividend policy. Accordingly, the purpose of the present study is to test the Sobel test to examine the mediating role of dividend policy on the relationship between corporate governance and free cash flow. The statistical population of this study includes all companies listed in Tehran Stock Exchange. The timeframe for doing the research is from 2011 to 2018. The sample size is 94 companies based on the systematic elimination method. The research method is based on hybrid data and multivariate least squares regression model using Sobel test. Evidence suggests that the mediating role of dividend policy has a significant effect on the relationship between corporate governance and free cash flow, meaning that because of the importance of dividend policy and corporate governance mechanisms with free cash flow, intermediary role The total dividend policy has a minor effect on free cash flow because not all interpretations are absorbed by corporate governance mechanisms.

Establishing a strong capital market system in a variety of situations, such as economic growth and recession, requires attention to a number of factors. The ability of shareholders in complaints against the mismanagement and management of managers and executives, or in other words, the ease of shareholders' petition, are among the factors that have prompted investors to maintain their interests against the assumptions of stewardship and representation theory in the era of recession is immune. Accordingly, the purpose of this study is to respond to investors' protection against conflicts of interest during the recession.

Target sample consists of 176 of the listed companies in Tehran Stock Exchange during 2011-2017. The research method was based on multiple regression and panel data model using ordinary least squares method.

The research findings suggest that the conflict of interests between the manager and the owner is negatively affected by the reaction of the investors, and investor protection has a direct effect on the investors' reaction. The other results of the research are that the positive effect of supporting the investor and the negative effect of the conflict of interests between the manager and the owner is reinforced by the reaction of investors in the period of the recession. Ultimately, the interaction effect of supporting the investor and the conflict of interests between the manager and the owner during the recession with the reaction of investors has a reverse effect.

Investors intuitively behave badly by inferring that the interests of the manager and the owner are not aligned, but as soon as they feel supported, they behave positively. This conclusion is repeated in the period of economic prosperity, but is intensified in the period of economic record.

Banks are very important moderating financial institutions in countries that play a vital role in the financing system. They constantly push stakeholders from depositors to investors. Therefore, the quality of awarded loans is of particular importance. The purpose of this study is to investigate the effect of quality index of banks' portfolios on financial performance of banks considering the role of financial health of banks. In other words, the moderating role of financial health on the relation between loan portfolio and banks’ financial performance is investigated in this study. The population of this study includes 17 banks accepted in the Tehran Stock Exchange during 2009 to 2013. The research followed multiple regression models based on combined data using the EViews software. Evidences suggest that increasing the quality of loan portfolios can increase the financial performance of banks, and the healthy performance of banks can intensify loan portfolios directly.