فصلنامه پژوهش های حسابداری مالی
سال دوازدهم شماره 2 (پیاپی 44، تابستان 1399)

Comparability is a key tenet of accounting because it allows users of financial statements to benchmark a firm against similar firms when distinguishing between alternative investment opportunities. The purpose of the present study is to investigate the effect of information asymmetry and imperfect market on the impact severity of comparability and accounting consistency on the cost of equity capital in listed companies in Tehran Stock Exchange. The sample consists of 111companies in the period 2010-2017. accounting consistency has been measured by employing the text mining and vector space model. For testing hypotheses, multivariable regression model and compound data (with year and industry effects control) have been used. The findings show that the comparability and accounting consistency has a significant negative effect on the cost of equity capital. The results also show that information asymmetry and imperfect market increase the severity of the negative impact of comparability and accounting consistency on cost of equity capital. These findings imply that investors and users of financial information in the Iranian capital market should pay particular attention to the importance of comparability as a between-firm measure of the quality of accounting information because investors consider the comparability of information and it impacts. By the cost of equity capital, they can predict their expected returns more accurately and select the optimal investment portfolio.

This study examines for the first time anomaly of accruals from the perspective of investment-based asset pricing theory. According to investment-based asset pricing theory, financial inflexibility can be the cause anomaly of accruals. According to the research literature three related sources of financial inflexibility are identified, we created a composite inflexibility index, based on the variables of investment irreversibility, leverage and financial constraint. In order to achieve the research goals, 5400 Month-firm is used during the period from 2008 to 2017. To test the research hypotheses Fama and French three-factor and four-factor of Polson, Fuff and Gray models are used. The models are fitted once using pooled data, then using time series methods.The results of the research show that the financial inflexibility leads to a positive risk premium in the stock level and investment portfolios and firms with low accruals gain higher future returns than firms with high accruals to compensate for the risk of financial inflexibility, Finally the positive (negative) relationship of the factor of financial inflexibility with inflexible portfolios (flexible portfolios) indicates that financial inflexibility independently subjects firms to common shocks.

The purpose of this study is to investigate the effect of CEO's power measures on tax management in listed companies in the Tehran Stock Exchange. In this study to evaluate the tax management, three scales which are tax avoidance, tax evasion and tax aggression is used. The data of 108 companies listed in Tehran Stock Exchange from 2010 to 2017 are sellected. The regression model of the research is tested by panel data. The results show that the CEO's power has a negative and significant effect on tax management by using all three measures. That is, powerfull CEO's due to thier stock ownership, expertise, experience, more independence, have long term investment horizons, worry about tax penalties and also in order to prevent damaging to their reputation and to prevent increasing the transaction costs in tax management and non-tax cost, do less tax management. It is suggested that users always pay attention to this point in their investment decisions that decreasing of tax management leads to increasing liquidity risk and investment risk too.  </em></strong>

Promoting tax culture is a significant challenge in the tax system. In Iran's tax system, based on self-reported tax liability, voluntary tax payment is low because the tax system is inefficient. Thus, it is very important for Iranian policymakers, decision-makers, and managers to gain knowledge about the prevailing tax culture in the society. A progressive tax culture can significantly contribute to Iran's economic development. Therefore, factors affecting the tax culture must be identified and effective measures should be taken into account accordingly. This study is applied, descriptive-correlational study examines the relationship between tax culture and risky tax-avoidance in companies listed on the Tehran Stock Exchange. The research data included the financial data of the listed companies form 2008 to 2017. Regression panel data is applied to test the research hypotheses. The results show that there is a significant and positive relationship between tax culture and lower effective tax rates with prospective tax rate fluctuations and stock price fluctuations. Hence, more attention must be paid to the tax culture in taxation. Additionally, the funds arising from tax avoidance should be utilized in investment to increase the projected cash flow, and as a result, reduce the capital costs.

The audit validates financial reports, and, in return, a sum will be paid to the audits as a fee. The basis for auditors' review and assessment of the ability to rely on financial statements is through internal control. The company's political relations can affect the quality of financial statements and affect the amount of audit fees as well as control environment. The purpose of this study is investigate the relationship between the internal control weakness and audit fees, with an emphasis on the political relations in companies listed in Tehran Stock Exchange. The natural logarithm of audit costs is used to measure audit fees. Auditors' reports are also used to measure internal control weaknesses. The data of 114 companies listed in Tehran Stock Exchange from 2012 to 2018 are collected to test the research hypotheses. To investigate the relationship between variables, multiple regression using panel data model is applied. Findings of the research show that there is a positive and significant relationship between the weakness of internal control and audit fees and the company's political relations undermine the relationship between the weakness of internal control and audit fees
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In this study, the impact of corporate governance on the relationship between research and development expenditure and firm growth in Tehran stock exchange are investiagted. After reviewing the relevant literatures and setting the research hypotheses number of 110 companies over the years 2012 - 2017 using the systematic elimination method are sellected. Five hypotheses are used to investigate the relationship between R & D expenditure and firm growth, with board independence, institutional shareholders, ownership concentration and auditor type. After extracting the required data, resaerch hypotheses tested using and multivariate linear regression model. Research findings indicate that there is a positive and significant relationship between board independence, research and development expenditures and firm growth. But institutional shareholders, ownership concentration and auditor type show no significant relationship with the expenditures of research and development and firm growth.  </em></strong>