Investigating the effect of accruals quality on the relationship between heterogeneous beliefs of investors and stock returns of companies listed on the Tehran Stock Exchange

The main purpose of this study is to investigate the effect of the quality of accruals on the relationship between heterogeneous beliefs of investors and stock returns of companies listed on the Tehran Stock Exchange during the years 1390 to 1396 "in this regard, stock returns as a dependent variable and beliefs Investor heterogeneity is an independent variable. The quality of accruals is a moderating variable. Company size, financial leverage, the ratio of non-executive board members and the ratio of operating cash flows are also control variables. The statistical sample of the research is 125 companies. The research method is descriptive-correlation with applied approach. The method of data collection in the theoretical foundations section is the library method and in the hypotheses testing section is the method of documenting financial statements. In general, the method of testing hypotheses is the method of correlation and multiple regression. The results of testing the first hypothesis of the research showed that investors 'heterogeneous beliefs have a significant inverse effect on stock returns and the quality of accruals reduces the effect of investors' heterogeneous beliefs on stock returns. The results of control variables showed that financial leverage has a significant inverse effect on stock returns. The size of the company and the proportion of non-executive board members have a direct and significant effect on stock returns.