فصلنامه پژوهش های حسابداری مالی
سال دوازدهم شماره 4 (پیاپی 46، زمستان 1399)

In today's business world, increased competition in business environments led to the opportunities and challenges facing firms and managers. As people usually take into account the reactions of others in their decision making process. Recent researches suggest that corporate financial and operational decisions are influenced by competitors’ policies. It is not unlikely that the good competitors’ performance would drive earning management. This study aimed to investigate the role of competitors’ performance on accrual and actual earnings management. The data of 93 companies listed in Tehran Stock Exchange during the period of 2011 to 2017 are collected and analyzed. The results show that the competitors’ performance has a positive relationship between competitors’ performance and accruals earning management, but has no relationship with real earning management. But based on limited access to resources and the high cost of actual earnings management, competitors’ performance does not have a significant impact on actual earnings management.

The Iranian Securities and Exchange Organization has identified the mission of the internal audit unit to provide independent and unbiased assurance and consulting services to enhance the value and improve the operations of the company. Therefore, it has required the members of the Tehran Stock Exchange and Iran Fara Bourse to establish an internal audit unit. The purpose of the present study is to investigate the effect of internal audit quality on the quality of financial reporting and information asymmetry in companies listed in the Tehran Stock Exchange. The sample consists of 100 companies during the period of 2019. For testing hypotheses, the Structural Equation Modeling is utilized. In this regard, the variable "Internal Audit Quality" is classified into four sections including competence, independence, performance, and other criteria; and the variable "Financial Reporting Quality" is classified into three sections: Reliability, Relevance, and Timeliness, by consideration of "Information Asymmetry” variable, 16 hypotheses are formulated. The results of the study indicate that the "Internal Audit Quality" did not have a significant effect on two variables ("Financial Reporting Quality" and "Information Asymmetry") in companies listed in Tehran Stock Exchange. Therefore, it is necessary to pay more serious attention to the quality of internal audit and by selecting appropriate mechanisms, it is provided the further improvement of the quality of the internal audit units.

The agency theory from the economic perspective indicates that a rational economic man is after self-interest maximization. Therefore, to control the opportunistic behavior of the agent, independent directors should be appointed to the board. However, stewardship theory by considering the high-level needs of Maslow’s hierarchy of needs and organizational psychology suggests that trust in managers leads to better performance. Since human behavior is influenced by variety of needs. The purpose of this study is to investigate the effect of board independence on financial performance by developing a theory of a combination of the above two theories. Balanced panel data of 124 corporations from the population of companies listed on the Tehran Stock Exchange during the years 2011-2019 is collected. The test of hypotheses is conducted by nonlinear feasible generalized least squares regression method with the help of software Stata done. According to the findings of the study, no significant effect is found between board independence and operational cash flows. However, there is a quadratic significant effect with a downward concussion between the number of non-executive directors and net income. It can be stated that combining the economic perspective of agency theory and the psychological perspective of stewardship theory on board independence has a positive effect on firm profitability. In other words, the research findings confirm that the effectiveness of board consists of executive managers and the majority of non-executive members. Therefore, this study suggests a level of board independence that improves corporate profitability.

The growth of international trade and capital flow and the growing economic cohesion over the past three decades has led to the harmonization of accounting standards among countries. With the adoption of International Financial Reporting Standards (IFRS) in many countries of the world, and the announcement by the IranianSecurities and Exchange Organization of the requirement to impose standards for a group of companies under the supervision of that organization, the main objective of this study is to examine the impact of the implementation of international financial reporting standards on quality Financial reporting in Iran. To this end the effect of applying IFRS on thequalityof identifying and measuring transactions, the quality of identifying and measuring assets and liabilities, the quality of presentation and disclosure of financial statements, and the qualitative characteristics of financial information, is investigated.A survey approach is used to conduct research. The statistical population of this research includes academic and professional experts. Number of questionnaires is sent to the respondents and 117are collected. According to the results of one sample T-test, the implementationof the International Financial Reporting Standards improves the process of identifying and measuring transactions, assets and liabilities, increasing the quality of presentation and disclosure of financial statement components, and the overall quality of financial reporting.

Today, non-informed investors sudden arrival in the capital stock market cause disruption, and noise trading play a central role in the behavioral finance literature. These transactions cause the asset price to deviate from their intrinsic values. Equity prices are also jointly determined through intrinsic value and distorted trader risk. As a result, noise trading can lead to mispricing. The purpose of the present study is to investigate the effect of idiosyncratic volatility as an indicator of impaired trading on stock pricing. In this regard, 120 compnanies using systematic elimination method is selected as the sample of the research from companies listed in Tehran Stock Exchange for the period of 2011 to 2016. The results show that idiosyncratic volatility have a positive and significant effect on the level of stock pricing based on Rhodes (2005), Burger (1995) and Walking (1985) models. Therefore, idiosyncratic volatility as an indicator of noise trading has a positive and significant effect on inaccurate pricing based on all three methods. As a result, one of the strategies is to prevent mispricing, noise control or noise trading. As a result, the entry of uninformed traders into the stock market disrupts and causes the price to deviate from its intrinsic value. New financial behaviors express it. The results of the present study also emphasize this point. In this regard, one of the ways to prevent incorrect stock pricing is to control disruptive transactions.

The main concern of managers of economic entities is to choose the optimal capital structure and different ways of providing resources and financial expenditures to maximize shareholders wealth. Maximizing the company's wealth requires the optimal use of financial resources and the earning the returns and the selection of appropriate risk through the selection of favorable financial policies for the company. Undoubtedly, one of the most important factors influencing financial policies is financial flexibility. Financial flexibility indicates the ability of a company to equip financial resources to maximize the value of the company and adapt the capital structure to the needs arising from changing circumstances. The purpose of this study is to investigate the effect of the value of financial flexibility on the dividend policies of companies of listed companie in Tehran Stock Exchange. The statistical sample includes 112 companies in the period 2010 to 2019. To test the hypotheses, a multivariate regression model, with pooled data is used and stata software is employed to analyse the data. Findings indicate a significant and inverse effect of the value of financial flexibility on dividend policies of companies listed on the Tehran Stock Exchange. Higher levels of financial flexibility value; a decrease in cash dividends will lead to a tendency not to pay cash dividends and to hold larger amounts of cash. Therefore, companies with more financial flexibility encourage their shareholders to keep cash in the company, or management has a greater ability to limit dividend payments.