The effect of manager short-sightedness on operating cash flows and stock returns in listed companies in Tehran Stock Exchange
Author(s):
Article Type:
Research/Original Article (بدون رتبه معتبر)
Abstract:
One of the major barriers to long-term investment and short-term investment preference is manager short-sightedness. The main purpose of this research is to investigate the effect of short-sightedness on managerial cash flow and stock returns on Tehran Stock Exchange. The method of this study is descriptive-analytic and in terms of method, it is a descriptive-analytic one. The statistical population consisted of all listed companies present in Tehran Stock Exchange. In this study, we investigated the research hypotheses by using normality, mana, variance and F Limer and Hassman tests in Ivyz software from 2011 to 2011. To test questions and hypotheses, a sample of 146 companies was studied over the years. 1390 to 1396 used. The results showed that manager's short-sightedness had a significant negative effect on stock returns and operating cash flow of the company. In order to reduce short-term investments and long-term investment preference by investors, the short-sightedness of managers should be significantly reduced.
Language:
Persian
Published:
Journal of Accounting and Management vision, Volume:2 Issue: 15, 2019
Pages:
136 to 154
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