نشریه چشم انداز حسابداری و مدیریت
سال چهارم شماره 39 (بهار 1400)

The purpose of this study is to investigate the relationship between financial constraints and cash flow sensitivity with external financing. This research is a descriptive study in terms of nature and method and an applied research in terms of purpose. And post-event type is included. In the course of this research, two hypotheses were formulated and 110 companies were selected through sampling by systematic elimination method for a period of 8 years between 2011 and 1397 and data related to research variables after collection in Excel software using software Statata version 15 were statistically analyzed. The results of the hypothesis test showed that there is a significant direct relationship between financial constraints and external financing. And there is a significant inverse relationship between cash flow sensitivity and external financing.

Despite the existing interest and increasing attention of standardizers and accounting researchers to the business model of companies, scientific research on this issue is in its early stages. Over the past decade, the disclosure of business model information has been considered by professional accounting institutions. At present, there is no specific requirement and framework for Iranian companies to report and disclose their business model information, and financial and non-financial information of the companies’ business model is being published incompletely in their annual reports. The purpose of this study is to propose a model for voluntary disclosure of financial and non-financial information of business models. The present study is application-oriented. The multi-dimensional structuring method was used to index the disclosure of financial and non-financial information of business models. To implement this method, three stages of index creation, scale development and scale evaluation were performed. Based on library studies and interviews with some experts, 36 indicators were identified in six dimensions. The statistical population of this study consisted of three groups: A) professors and academic experts, B) executive managers and auditors, and C) financial experts and analysts who were familiar with the concept of the business model and company information disclosure. Using the Cochran sampling method, a researcher-made questionnaire was provided to 286 experts and was used as the basis for analysis. Inferential tests were used to analyze the data. The Results of the binomial test showed that experts had much more consenting opinions than dissenting ones, and respondents have commented on the indicators with high confidence, and the validity of each indicator of voluntary disclosure of business model information Based on a single sample t-test was more than average. In addition, the results of Friedman test showed that among the proposed indicators, "business model canvas" and "non-financial value propositions in the business model" have not been as well received by experts as expected. Also, the economic consequences, the preparation of separate and consolidated profit and loss statements and the disclosure of key drivers of operating income of business models were of considerable importance. Considering that the proposed model in this study is based on the consensus of financial and business reporting experts and has been confirmed by accurate scientific methods, so the results of this study can underline the role, importance and rank of indicators of voluntary disclosure of financial and non-financial information. It is expected from managers and policy, executive, and regulatory agencies to adopt a structure that encourages companies to disclose accurate financial and non-financial information of their business models and provide greater transparency in their reports.

The interaction between the board of directors and the managers plays an important role in the management decisions and the performance of the company. The reason for the company's geographical diversification is the benefit of economic expansion benefits, which also has a significant impact on the company's performance and shareholder wealth. Therefore, the purpose of this study is to investigate the moderating effect of CEO duality on the relationship between geographic diversification and firm performance. This research is applied in terms of purpose and analytical in nature. To collect its data, the financial statements of Tehran Stock Exchange companies have been used. The statistical sample of the research is 106 companies listed on the Tehran Stock Exchange during the years 1392 to 1397. The findings of this study show that there is a positive and significant relationship between geographical diversification and company performance and the duality of CEO duties moderates this relationship.

The rapid growth and transformation of economic relations has led to fierce competition in trade, industry and investment. Therefore, companies need to make appropriate, timely and efficient investments to survive and expand their activities. Therefore, the purpose of this study is to investigate the relationship between financial constraints and investment efficiency as well as the effect of cash flows on the relationship. This research is applied in terms of purpose and analytical in nature. To collect its data, the financial statements of Tehran Stock Exchange companies have been used. The statistical sample of the research is 100 companies listed on the Tehran Stock Exchange during the years 1390 to 1395. The results show that financial constraints have a positive and significant effect on the efficiency and underinvestment of the company and also the flow of free cash intensifies the relationship between financial constraints and investment efficiency.

Competitive pressure is an important factor in competitive decision making and also increases the likelihood of companies manipulating profits in the product market, and in times of fierce market competition, managers manipulate profits to influence actual and potential investors by influencing Stock prices and good earnings reports are under pressure before they are earned. Therefore, the purpose of this study is to answer the question whether market power and competition in the product market moderate the relationship between corporate governance and profit management? To investigate this issue, using 118 companies listed on the Tehran Stock Exchange between 2015 and 1398, using linear regression, this issue was studied and analyzed. The test results showed that corporate governance and earnings management have a significant relationship. In other test results, hypotheses were found that product market competition and market power moderate the relationship between corporate governance and profit management.

Today, citizen participation in city administration plays a very important role in accelerating the development and improving the quality of communities. Efforts to increase participation and closeness to the people have always been one of the main factors of development and its realization has been one of the main concerns of the officials of each country. The present study has been conducted with the aim of investigating the factors promoting the participation of Hamedani citizens in the implementation of city council resolutions. The statistical population of this study is all citizens of Hamedan in the four areas of the city and the sample size is 384 people based on Morgan table, of which 199 are women and 185 are men. The required field information was obtained by a questionnaire and Cronbach's alpha was used to measure the reliability of the questionnaire questions. The validity of this research has been reviewed and confirmed by content validity method. Research hypotheses were analyzed using statistical tests such as Kolmogorov-Smirnov and regression. The results of the research showed that all the hypotheses of the research have been confirmed. This means that the eight factors of satisfaction, justice, information, the council's acceptance of public participation, building trust, cultural factors, economic factors and religious factors have a direct impact on the level of people's participation in the implementation of resolutions.

The results of previous research on CEO power and executive board roles and their impact on bank risk-taking and financial performance are very limited and ambiguous. In addition, a stronger board can impose more communication and coordination costs on the CEO. This study investigates the effect of CEO power on the risk of banks listed on the Tehran Stock Exchange with emphasis on the moderating role of board power during the years 1391 to 1397 using multiple regression analysis. The data of the present study have been collected from the new Rahvard software as well as the appendix of the financial statements of 17 banks operating in the country's banking network.

In this study, the relationship between auditor stress, audit quality and information quality in companies listed on the Tehran Stock Exchange was investigated. In order to measure the auditor stress, the work pressure of the auditors and the business complexity of the company under study have been used. The statistical sample of this research includes 115 companies of Tehran Stock Exchange in the period of 2010-2011. In order to analyze the hypotheses, multivariate regression and data panel econometric method have been used. Research findings indicate that audit quality improves the quality of financial information. Research findings also show that the size of the auditor intensifies and the tenure of the auditor reduces the stress on the auditor. Further research shows that auditor stress has a negative relationship with the quality of financial information. In other words, the presence of psychological pressure on the auditor reduces the quality of financial information. These results while auditor size and auditor tenure moderate the relationship between auditor stress and the quality of the firm's financial information.

Given the role of liquidity in asset price discovery, financial risk distribution and transaction cost reduction, it is important to identify the factors affecting it. The purpose of this study is to investigate the effect of information asymmetry on the relationship between price synchronization and stock liquidity. For this purpose, two hypotheses are formulated in which the information asymmetry of the moderator variable, the price of the independent variable and the liquidity of the shares of the dependent variable are in the order of these hypotheses. The statistical population of the research of companies listed on the Tehran Stock Exchange and the sampling method of systematic removal and the studied sample, includes 133 companies listed during the years 1394 to 1398. The research method is descriptive-survey and in terms of the relationship between the variables is causal-correlation and in terms of purpose is applied and in terms of event, it is post-event. Regression method, panel data and fixed effects model have been used to process and test the hypotheses. The results obtained from the hypotheses show that the concurrence of price with the liquidity of the company has a positive and significant relationship. Information asymmetry has a negative and significant effect on liquidity. Information asymmetry has a negative and significant effect on price synchrony and finally for the fourth hypothesis, it indicates a negative and significant effect of information asymmetry on the relationship between price synchronization and stock liquidity at the error level of 5% and the control variable of company size is related to stock liquidity It has a negative and significant and the variable of financial leverage has a negative and significant relationship with financial performance.

The present study examines the relationship between external financing activities, earnings smoothing and the risk of falling stock prices. This research is applied in terms of purpose and in terms of methodology of correlation is causal (post-event). The statistical population of the study is all companies listed on the Tehran Stock Exchange and using the systematic elimination sampling method, 120 companies were selected as the sample of the research in a period of 6 years between 2012 and 2017. The method used to collect information is a library and the relevant data for measuring variables were collected from the Cadal site and the companies' financial statements. The results show that there is a significant inverse relationship between earnings smoothing and the risk of falling stock prices. However, there is a positive and significant relationship between foreign financing activities and the risk of stock price falls. Also, foreign financing activities have a direct and significant effect on the relationship between earnings smoothing and the risk of falling stock prices.