Investigating the Impact of Accrual Anomaly on Corporate Financing Activities

The purpose of this study is to find an appropriate answer to the question of whether the abnormal accruals have an impact on the financing activities of companies accepted to the Tehran Stock Exchange or not? For this purpose, the financial information of 105 active companies in the Tehran Stock Exchange for the period of 6 years 2011- 2016 was tested using a combined analytical. In order to investigate the purpose of the research, three main hypotheses were presented separately using multiple regression models. Based on the analysis of the first hypothesis, it was found that anomalies of accruals have a negative and significant relation with the future profitability of the companies under study. The result of the second hypothesis is that there is no significant relationship between accrual accounting anomalies and adjusted returns at error level less than 5%. In the third hypothesis it was stated that anomalies of accruals have a positive and significant correlation with the cash flow from financing activities. These findings indicate the need for more attention from policy makers and market capitalists to the abnormal accruals.