فهرست مطالب

Advances in Mathematical Finance and Applications - Volume:1 Issue: 1, Summer 2016

Advances in Mathematical Finance and Applications
Volume:1 Issue: 1, Summer 2016

  • تاریخ انتشار: 1395/11/10
  • تعداد عناوین: 8
|
  • Hamidreza Ghiabi Pages 1-10
    companie's continuity, because all companies have some relations with the society;
    Therefore, the society provides long-term survival of the company.
    In this way, companies in addition to economic responsibility, must take responsibility
    of social issues. Therefore, with respect to corporate social responsibility and
    its revelations, the current paper examines the relationship between social responsibility
    and disclosure of remuneration paid to board of directors within the years
    1388 to 1392. The study sample consist of 55 company that were selected by systematic
    removal, that, there are a total of 275 years of companies. In this study, for
    examining the hypothesis, the person's correlation coefficient and t test were used.
    In order to analyzing data and testing study hypothesis EVIEWS software was
    used, after designing and testing hypothesis which has done by dividing each subhypothesis, it was concluded that there is a reasonable relationship between the
    factors social responsibility (employed relations and social participation) and
    Board Bonus.
    Keywords: Board bonus, Disclosure of social, Participation, Disclosure of information, employee relations, social participation
  • Reza Gholami Jamkarani, Ali Lalbar Pages 11-18
    One of the basic assumptions of management accounting illustrate that costs changes has a significance Relationship with increasing and decreasing in the level of activity, recently after being raised of sticky costs issue by Anderson and his colleagues this assumption was discussed. It means Increases in costs by increasing the more activity level of reduction in costs is exchange for the reduction in the level of activity. Anderson et al (2003) changed the expression of Cost behavior to sticky costs. The Subject profit forecast error is one of the issues that can affect investment decisions to hold or transfer of shares, because purchase of shares of the new company's stock is riskier process than other companies; Because of its lack of trading Background, historical information related to their is low. Accordingly, in prediction two fundamental goals follow: The first one obviously is the proper planning and second one is Familiarity and deployment of predictive techniques using predictive techniques for decision making and problem solving process. The aim of this study was to investigate the relationship between forecast error of earnings and sticky cost in Tehran Stock Exchange. To achieve this aim, a main hypothesis and sub-hypothesis has been proposed, and to test hypotheses data 108 firms listed companies in Tehran Stock Exchange using systematic sampling purposefully selected, and data of the period between 2007 to 2013 was used for statistical analysis. Finally, the results indicate that There is an inverse relationship between sticky costs and forecast error of earnings, and also between sticky cost of goods sold and sticky costs of sales.
    Keywords: forecast error of Earnings, cost behavior, Sticky cost behavior of sold, adherent goods, behavior, bonding, General, AdministraTive, Expenses
  • Saeid Aliahmadi, Ali Jamshidi, Rasoul Mousavi Pages 19-31
    This study investigates empirically the value investors place in excess cash holding and how managerial ability impact on the value of cash holding for Iranian firms from 2006 to 2014. In this research, managerial ability calculated by using the data envelopment analysis (DEA). Following the approach of Faulkender and Wang, we find that the relation between managerial ability and value of cash holding and the level of cash is positive and significant. This result indicates that when managers allocate cash resources efficiently, shareholders consider more value for the firm cash holding. Also, the result shows that if managers emphasize both long-term and short-term of resource management, investors set a higher marginal value of cash holdings. In the other words, the able management can improve the value of cash holding by the focusing on the spending resource for both long and short-term periods.
    Keywords: Managerial Efficiency, Managerial Ability, Value of Cash Holding
  • Masome Mami, Rahmatollah Mohammadipour Pages 33-42
    cost by considering earnings quality for accepted companies in Tehran Stock Exchange. This survey investigates a population of 76 companies during the time period of 2009-2014. The results show that under high earnings quality, the market risk factor, the book risk to market factor, and the size risk factor have positive effects, and the profit risk factor has negative effects on shareholders equity cost.
    Keywords: Market risk, Size risk, Book risk to market, Earnings risk, Earnings quality, shareholder's equity cost
  • Mahboobe Motakiaee Pages 43-55
    this world; though all the discussions are focused on the causal relationships in all the scientific arguments. One of the methods to study the designed causal relationships objectively is Granger causality test. This paper aims to investigate the longterm causal relationship between the stock price and dividends. The statistical population includes 180 active companies in Stock Exchange of Tehran during 2010-2014. In order to analyze the achieved data statistically, the used specified model has been the regression model using the econometric data panel techniques and to test the research hypotheses and find the specific relationships among the variables, the descriptive-inferential statistics and Eviews software were used. Results indicated that the stock price is not due to the dividends; however, the dividends are the Granger causality of stock price. Also, the type of industry, firm growth index, and systematic risk index are of impact on the relationships between the stock price and dividends.
    Keywords: Stock price, Dividends, Systematic risk, Firm growth, Granger causality test
  • Emad Ghajar, Parviz Saeidi Pages 57-66
    Accounting earning represents the positive performance of companies during their pertinent financial periods, thus it is assumed that accounting earning will be noted by investors, which could contribute to the optimum allocation of resources to successful companies. It can also play a major role in the economic growth and development of a society. This research focuses in the relationship between accounting earning and gross domestic product (GPD). The research population includes all companies listed in Tehran Stock Exchange. Due to the limitations of sample size, 65 companies between 2009 and 2013 were studied. The findings showed that there is a significant relationship between accounting earning and GPD growth rate. A similar relationship was also observed between accounting earning and forecast errors of GPD growth. The control variables including inflation and employment rate had a significant relationship with GPD growth rate and forecast errors of GPD growth.
    Keywords: Gross domestic product, forecast errors of GPD growth
  • Ahmad Hoseini Pages 67-83
    This paper aims to investigate the effect of firm reporting quality, timeliness and quantity for disclosure and reliability of financial reports on the reaction of stock price delay. Statistical population includes 111 active firms in Tehran stock exchange during 2010-2014 using Cochrane method with the confidence level of 95%. Totally, they were 555 firms-years. In this paper, linear and nonlinear regression tests have been used to investigate the research hypotheses, analyze the data and examine the hypotheses using Eviews software. Results indicated that the score of disclosure quality, timeliness and reliability affected the stock price delay; also, the mentioned effects were confirmed in the firms with high risk of lack of funds.
    Keywords: Firm reporting quality, disclosure timeliness, financialreports reliability
  • Ahmad Sarlak, Fatemeh Johari Pages 85-94
    Balance sheet itself does not specify and show all the activities that a bank pays. Because banks can do many swap contracts and obligations, exchange, and commitments Outside of the balance sheet. To such activities and exchange that will not appear on the balance sheet, are saying off-balance sheet activities. These items are usually reported in the notes to the attached financial statements. One of the reasons for conducting the activities of off-balance sheet by the banks is the interest rate risk coverage. However, the use of these tools for risk management leads to multiple different sorts of risk and that the overall judgment about the outcome of the risk management of the off-of-balance sheet activities has met with ambiguity. The present research has examined the relationship between risk and the items of off-balance sheet under the hypothesis of Adverse selection with the use of the Iran's nine commercial bank data. The results show that this hypothesis isn’t able to respond off- balance sheet activities behaviour in Iran .
    Keywords: Off, balance sheet activities, Adverse selection hypothesis, risk