International Journal of Finance and Managerial Accounting
Volume:7 Issue: 27, Autumn 2022

The underlying philosophy of resource management is to create effectiveness and efficiency. Cash is one of the most important and basic resources of any economic unit, which is at the disposal of management and can be used to guide and control matters. These funds can be valued by shareholders more than their nominal value. The present study seeks to investigate the effect of management characteristics on the marginal value of cash. Selective components for management characteristics in this study included management ability, management overconfidence, and CEO financial expertise. The statistical population of this study was all companies listed on the TEHRAN stock exchange in the period 2009 to 2018. The statistical sample was selected by a systematic removal method with 172 companies. The statistical software used in this study was Eviews10& Stata4 . The research method was applied in terms of purpose and pre-event in terms of the data collection method. Data analysis was performed using the panel data technique. Managerial Overconfidence Excessive management trust and management ability were significantly associated with the marginal value of cash. There was no evidence of a relationship between the CEO's financial expertise and the marginal value of cash. According to the research results, it can be stated that the ability of management along with the excessive trust of management is one of the components affecting the marginal value of cash.

The role of firm managers in improving earnings management reliability is essential considering the significance of audit quality in firm profits. A study was conducted on the role of related-parties transactions and corporate governance in reducing the manager’s opportunistic behaviors as a result of accrued and real earnings. Related-parties transactions are quite prevalent among the firms and might pursue specific objectives; the important point is that minority shareholders’ interests are held at a lower priority compared to the controlling (majority) shareholder’s or the CEO’s interests. present study aims to propose an optimal model to identify earnings management in firms listed by Tehran Securities and Exchange Organization using quantified audit quality tools and techniques. The study is an empirical study in the field of positive accounting research and is based on real data obtained from the financial statements of firms listed by the Tehran Securities and Exchange Organization. The study is causal in terms of the relationship between the variables, applied in terms of the purpose, and a descriptive survey in terms of method, in which firms’ record histories and statistical methods are employed to confirm or reject research hypotheses. The study’s statistical population consists of the firms listed by Tehran Securities and Exchange Organization throughout 2009-2018, which includes 420 firms that were selected from the population through elimination. Besides, the research has used panel data for model estimation. Data were analyzed through both inferential and descriptive methods. The present research has used the appropriate statistical software to test the hypotheses

The purpose of this study is to determine the optimal level of voluntary disclosure by considering the accounting, market and performance criteria of those companies listed on Tehran Stock Exchange by different industries. In this research, we intend to use the Games software to turn the functions of a multi-objective problem into a single-objective problem. Objective functions include maximizing a variety of corporate performance metrics. To obtain values in the functions, the comprehensive criterion method (Lp-Metric) is used which was obtained by using mathematical equations of optimal voluntary disclosure values in different industries. For this purpose, the data related to 108 companies listed on Tehran Stock Exchange from 2009 to 2019 in 8 industries were collected separately. The present research is method-analytical-mathematical and applied in terms of purpose. The results show that from the 8 industries during the research, the ceramic tile industry has the lowest optimal rate of voluntary disclosure and the automotive industry and spare parts have the highest optimal rate of voluntary disclosure. The optimal rate of voluntary disclosure indicates that those industries that are more important have the highest rate of optimal disclosure.

Environmental auditing profession, because of the responsibility that is responsible, the field of complex and turbulent is when the stresses of the profession, should the psychological and behavior to counter the influence and mediation have to maintain its independence. One of the concepts that can theoretically contribute to the multidimensionality of synergies with greater independence in the audit profession is the inertial capabilities that, as an antithesis to organizational behavior, in the audit profession can contribute to capacity building for auditors. The purpose of this research is Self-Fulfilling Prophecy and Auditors Behavioral Inertia based on Peugeot's Philosophical Theory. The research data collection tool was a questionnaire that partial least squares analysis was used to analyze the collected data. The target population of the study was auditors who are members of the auditing organization and private sector auditing firms who were selected through random sampling and examined over a period of 6 months. Based on the results, it was found Self-Fulfilling Prophecy has a positive and significant effect on Auditors Behavioral Inertia. In fact, the results of this study show, the existence of positive expectations in the context of society and the professional environment creates more dynamism in the effective functions of auditors' independence because motivations can help increase the professional philosophy of auditors in their career path and cause them to make professional comments and judgments when making decisions, regardless of any possible influence and dependencies.

In the structure of holdings, the main activity on investment and management is generally focused on companies called subsidiaries. thus risk management in subsidiaries (as the risk management of investments by the holdings), is too importance. Therefore, in this study, in the form of providing a framework, the effective risks of subsidiaries on the strategies of the parent company have been evaluated and analyzed. To extract the initial list of types of risks related to the main activity of the holding, library studies and then utilizing the delphi technique and questionnaire tools, the opinion of two groups of specialists, including experts in the field of risk and industry experts, were used to categorize and extract the final risk factors related to the industry in question in Iran. In the quantitative part of the research and in order to determine the risk components for compiling the risk map and ranking it, the opinions of the audit/risk committees of the subsidiaries have been used in the form of an open questionnaire. Using the obtained results, the holding company will be able to identify the types of risks affecting its subsidiaries and determine their relationship with the parent company’s strategy to manage them in the form of an enterprise risk management program as part of its strategic planning.

This study investigates whether the firms’ leverage and leverage deviation are influenced by earnings manipulation over the period 2006-2019 in firms listed in Tehran Stock Exchange. Using ordinary least squares (OLS), two-stage least squares (2SLS) and generalized method of moments (GMM) estimators, we find evidence suggesting that real and accrual-based earnings manipulation is positively associated with firms’ leverage and leverage deviation. In particular, we find that real activities manipulation and accrual-based earnings manipulation are positively (negatively) associated with positive (negative) leverage deviation. The result derived from the current study should be of interest to board of directors, stockholders and policymakers. The findings are significant because more earnings manipulator firms may be less successful in achieving their optimal leverage. After conducting robustness tests, our main conclusions remain valid to different proxies for real and accrual-based earnings manipulation, different measures of firms’ leverage ratio, and different estimation methods. Our results are consistent with the predictions of trade-off theory.

Dealing with the issue of Accounting Development necessitates an internal and external look at the profession, which is able to examine “accounting” from different dimensions. Accounting Development can be evaluated in various forms. One of such forms of evaluation is the use of the Contingency Theory that says there is no single, universal or ideal form for the system of accounting information; in other words, specific conditions and situations will dictate the best-fit system choice in those conditions and situations. Thus, this study aimed at suggesting a domestic model of Accounting Development based on the Contingency Theory. Here, the mixed qualitative-quantitative method was used to suggest the research model. In the qualitative part, questions were given to the experts of the study to answer via the snowball sampling. In the quantitative part, the structural equations approach as well as the confirmatory factor analysis was used. In the first phase, 51 concepts within the framework of 5 categories were extracted from the interview with experts. In the second phase, the concepts and the categories were decreased to 41 and 5 respectively. The categories included political, economic, organizational, environmental and professional factors. The results from the factor interrelationships as well as their impact on Accounting Development indicated that among different factors, the environmental factor with coefficient of 0.302 exerted the highest impact. As is emphasized in the Contingency Theory, environmental factors are considered among the most important factors that affect Accounting Development in all countries.

The Social Security Organization is the most important element of the insurance industry in the country and has reached a position where it can play a special role in expanding the social and economic development of the country. Therefore, one of the requirements for creating social and economic change in order to provide desirable services in the social security organization and to satisfy the client is to design and implement a system for evaluating the correct performance of the organization's service supply chain. For this purpose, the aim of the present study is to design the performance evaluation indicators of the service supply chain in Hormozgan Social Security Organization. And in the first part, first the performance evaluation indicators of the service supply chain were determined in the form of input and output measures and the importance of each performance indicator was determined and then according to the approved indicators and in order to meet the needs and satisfaction of the client, a service supply chain of two-way and four-level (The level of first and last were assumed to be out of bounds) designed. And in the second part, the efficiency of service supply chain, of 15 branches of Hormozgan province was evaluated by the network data envelopment analysis. Efficient and inefficient branches were identified by this model. And finally the necessary strategies were examined to eliminate the factors of inefficiency of the branches and in line with the quality of services and to satisfy the client in the organization.

Determining an effective approach to assessing portfolio performance is one of the most important modern topics in the field of investment management. Accordingly, evaluation criteria for an investment project cannot be selected only based on its high return. The models developed for evaluating portfolio performance in terms of both risk and return are not based on the fundamental approach to financial elements. Assessing the acquisition performance has been one of the most important issues in finance for a long time and many studies have developed models to determine the optimal portfolio. As the problems with these models have been detected over time, they have been replaced with new models. In this study, the generalized method of moments (GMM) was used to explore the factors affecting the portfolio performance of stock firms in terms of accounting and economic factors. The research sample included the most efficient firms listed on the Tehran Stock Exchange. The results of the study indicated that the economic approach is more efficient than the accounting approach with an explanatory rate of 0.82. Therefore, most investors consider the economic approach in their acquisition decisions.

Society benefits from the activities and behaviors of companies, and Corporate Citizenship as a member of the community has the responsibility of being accountable to the company. Also, corporate social responsibility disclosure (Corporate Citizenship) is more important in decision-making of investors. On the other hand, corporate social responsibility disclosure will improve with corporate governance mechanism that set of rules on basis of handling, controlling and monitoring. So, the main aim of this research is to investigate the impact of existence of audit committee on CSR disclosure. The research hypothesis was developed on a basis of a sample of 149 firms listed on the Tehran Stock Exchange during the years 2012-2018, and then was tested using multivariate regression model based on panel data. The results indicate that the presence of audit committee is positively associated with corporate social responsibility disclosure. Research findings, while expanding the theoretical literature on social accounting, it can help investors, capital market regulators, and other stakeholders better understand the impact of the audit committee on disclosing social responsibility and accepting corporate citizenship and provide useful information to investors and guide them in their decisions.

 Today, due to the rapid growth of technology in the world and the tendency of companies towards startup companies, the category of valuation is of particular importance. If we want to divide startup companies into two general categories (1- Startup companies in the idea stage 2- Startup companies in the post-idea stage), Net assets value (NAV), book value (BV), present value of cash flows (DDM), etc., but these methods are not applicable to the first category, which is in the early stages and lacks cash flows and physical assets. To valuate the first type of companies, methods such as valuation of Bill Payne scorecard, valuation of Dave Brexes, aggregation of risk factors are used, so researchers according to the conditions and in accordance with existing financial, tax, administrative, jurisprudential and religious laws, etc. In the country, experts, forensic experts, stock valuation experts, etc. have been researched and the dimensions, criteria and valuation indicators of startup companies in the idea stage, which lack cash flows and physical assets, have been identified through mathematical methods. AHP are ranked, as a model in the future Suitable for evaluating such companies to be used by users who currently have no model in Iran. Researchers, after identifying the valuation indicators of startup companies in the idea stage and compatible with the Iranian environment, have proceeded to rank these indicators, the results of which are given at the end of the article.

This study aims to provide a comprehensive model for pricing audit services. To this end, a combined method based on the Exploratory model (qualitative to quantitative) and Delphi and Factor Analysis methodological techniques has been used to identify and validate the effective indices and factors on pricing the audit services. The statistical society of this research, in the qualitative part, includes 30 researchers and scholars in the field of accounting and auditing, and faculty members of universities, and in the quantitative part, includes experts, consultants, and assistants working in the auditing profession, as well as researchers and university professors, from which 160 people were selected as a sample. According to the results of this study, The agreement between the experts regarding these factors was 71%, which is considered desirable. Considering the results of Exploratory Factor Analysis, the studied factors can be reduced to 10, which explains up to 98% of the variance of the pricing model of the professional audit services fees. The output values obtained from AMOS software indicate that the calculated data are logically consistent with the research model, and therefore, the status factors of the audit system, organizational factors related to the auditor, auditor's personal characteristics, institutional-macro audit considerations, clients' financial considerations, institutional-managerial considerations of clients, audit risk, effectiveness and quality of audit services, ownership, governance and growth processes, and social, economic and political considerations of the audit market have a good fit and credibility to price audit services.

This study examines the effect of the probability of informed trading on the stock liquidity. The methodology relies on linear regressions using the method of ordinary least square is used for a sample of manufacturing companies listed on the Tehran Stock Exchange in the period 2012-2016. We use five measures of stock liquidity that include Turnover Ratio measure, Amihud illiquidity measure, Bid-Ask spread measure, Free Floating ratio measure, Liquidity Index. As for information asymmetry between informed and uninformed traders, we utilize the variable Probability of informed trading (PIN). The results of the regression analysis indicate that Probability of informed trading has a positive and significant effect on the Turnover Ratio measure and Amihud illiquidity measure, but Probability of informed trading has no significant effect on the Bid-Ask spread measure, Free Floating ratio measure and Liquidity Index, suggesting that stocks with higher probabilities of information-based trading, PIN, have higher Turnover Ratio and Amihud illiquidity measure. These results highlight the informed trader’s role in defining the level of liquidity on the Tehran Stock Exchange. This paper provides novel evidence on the influence of Probability of informed trading (PIN) on stock liquidity in an emerging market context.

The purpose of this article is to investigate the effect of corporate governance system monitoring tools on the financial risk of companies listed on the Tehran Stock Exchange. The statistical sample of the study included 127 companies during the period 2011 to 2018. In this study, three variables of credit risk, illiquidity risk and market risk were used as financial risk and the variables of ownership concentration, institutional ownership, board independence and board size were used as monitoring tools of the corporate governance system. Data were analyzed using unit root tests, kao and generalized method of moments using Eviews software. The results showed that institutional ownership has a significant effect on financial risks and reduces credit risk and illiquidity risk while increases market risk. The results also showed that the concentration of ownership, independency and size of the board had no significant effect on financial risks.Keywords: Credit Risk and Illiquidity Risk, Market Risk, Corporate Governance

The growth and development of positive psychology approaches in the areas of human resource management has created a novel conceptual basis in the psychology of business and jobs, and has led to a tendency to apply knowledge and skills in performing job duties in line with job expectations in that profession, which can also lead to the development of ethical practices. Accordingly, the main objective of this research was to investigate the effect of self-fulfilling prophecy on developing auditors' ethical values. The target population of this study was auditors of auditing organizations and private sector audit firms who were selected through random sampling and evaluated over a period of 6 months. The research instruments were standard questionnaires, and partial least squares analysis (PLS) was used for testing the research hypotheses. The results of the present study showed that self-fulfilling prophecy had a positive and significant effect on ethical virtue and ethical conscientiousness as two dimensions of auditors' ethical values.

Banking crises are occurring intermittently. This indicates that pre-current warning models have not been successful in identifying these crises. Examination of existing models specifies that the failure of these models is mainly due to the identification of explanatory variables and experimental design of the model, which the researchers of the present study aimed at improving. In order to moderate the problem of model uncertainty by averaging all models (Bayesian averaging) the present research attempted to determine the factors affecting the banking crisis in Iran. In this study, 49 variables affecting the banking crisis were included in the model. Finally, using the Bayesian averaging model approach, 12 non-fragile variables affecting the financial crisis were identified consisting of cost of funding, none performing loan (NPL), deposit to loan (DTL), spread, capital adequacy, earning assets to total assets ratio, net LTD (after deducted Legal reserves), cash coverage ratio, net stable funding ratio (NSFR) in the presence of all variables, duration of assets and liabilities, interest rate duration, and increase in properties' possession. According to the results, it could be deduced that the banking crisis index in the Iranian economy is a problem with wide dimensions as the variables related to monetary and financial sector policy makers affect this index. The banks studied in this study are 10 banks listed on the Tehran Stock Exchange (Kar Afarin, Eghtesad-e Novin, Parsian, Sina, Mellat, Tejarat, Saderat, Post Bank, Mellat, Dey) in an 11-year period from 2008 to 2019.

The existence of price bubbles in different markets,and in general the bubble in price levels is one of the new theories in the field of macroeconomics.Basic patterns do not explain much about the causes of bubbles.For this reason, experts in the framework of theories related to behavioral sciences tried to explain the causes related to the formation of this component.The term bubble is more commonly used in financial markets when rising public expectations of future price increases will cause temporary price increases in the present.Therefore,the main purpose of this study is to provide a behavioral model for measuring the stock price bubble in the capital market.The method of the present study is descriptive-correlational and the statistical population of the study consisted of all companies active in the stock market in the period 1392 to 1399 due to the systematic elimination,143 companies were selected as a sample.We used logistic regression with Eviews to test the hypotheses.Behavioral factors identified include speculative behavior, behavioral irrationality,investor heterogeneity, and market expectations.The results showed that behavioral irrationality has a positive effect on the stock price bubble.Investor heterogeneity also showed a positive effect on the price bubble.On the other hand,market expectations and speculative behavior also had a positive effect on the stock price bubble.Therefore,it can be said that behavioral factors can have a positive effect on the formation of stock price bubbles. Therefore,the identified pattern has the necessary performance from a behavioral point of view.

The proposed tax compliance model of the Organization for Economic Co-operation and Development (OECD) considers determinant economic, commercial, psychological and sociological factors that can shape the taxpayers’ recognition about the tax system. The aim of this study is to present a model of tax non-compliance in Iran using the multi-grounded theory approach. The first step in meta synthesis is organizing the research questions based on the grounded theory dimensions. In the second step, the researcher searches the published articles in reputable domestic and foreign scientific journals systematically, with the aim of determining credible, reliable documents in the proper timeframe. First, the related keywords in Persian and English were examined individually or in combination between 2011 and 2020(Persian years) and for Latin articles from 1980 to 2021. Finally, 27 articles were found. Since in the grounded theory, data collection is done in the form of theoretical sampling, so using meta synthesis and in-depth interviews, and with the help of the grounded theory and combining them by multi Grounded, a comprehensive model is presented to identify the pattern of tax non-compliance. Tax system reforms and tax revenues growth are the focal point of economic reforms in Iran. Tax processes one of the main domains of tax system reforms, in order to achieve Islamic Republic of Iran’s 20-Year vision goals, five-year development plans goals, and in the framework of the government's economic transformation plan and the establishment of e-government as the basis of the justice principle, especially in the field of taxation.

Since most of the country's financial resources are in the banking industry and one of the main activities of the banking industry is to provide credit (facilities) to its customers, so many factors can lead to increased customer default in repaying credit received from the bank, which Lead to an increase in the credit risk of banks and ultimately the bankruptcy of the industry. The purpose of this article is to reduce the risk of default and prevent the bankruptcy of banks. Accurate credit rating leads to the facilities granted by the bank to its legal clients. The statistical population of the present study is active stock exchange companies that have used banking facilities. In this regard, using the Markov regime change model (MS), the factors affecting the probability of default of customers were estimated and the probability matrix of default was calculated. The results showed that the effect of debt-to-assets and debt-to-equity ratios on the probability of default was positive and significant, leading to an increase in the probability of default of companies. As can be seen, the shock of financial ratios in the two regimes did not have the same effects, indicating asymmetry.

This study mainly aims at studying the effect of cultural models on the development of ethical behavior of accountants. The statistical population of this study are 384 accountants and auditors employed in this profession in 2021 using Cochran’s formula infinite population. Data collected using questionnaire. The result of the study showed that among cultural models of “Hofstede”, masculinity vs femininity has positive and significant effect on competence, education and virtualism. Long-term orientation vs short-term orientation also has positive and significant effect on two parameters of religious beliefs and education but it has negative and significant effect on supporting public interest. Among cultural models introduced by “Gray”, uniformity vs flexibility has positive and significant effect on religious beliefs and negative and significant effect on education. Also uniformity vs flexibility has influenced honesty and satisfaction. Among accounting ethical parameters, conservatism vs optimism has only influenced religious beliefs and has no significant effect on other parameters of accountants’ ethical behavior. It is worth mentioning that among cultural models of “Gray” uniformity vs flexibility has mostly influenced religious beliefs.

The performance of economic enterprises is one of the issues that have been evaluated from different aspects in the historical periods of economics. Among these, the concept of cost efficiency has been considered as one of the most basic concepts to express the performance and therefore several studies have tried to explore efficiency index. Nowadays, users' judgment is based on the ability of banks to help solve problems and develop the country's trade. In the banking system, proper performance, non-waste of resources and costs, allocation of cost efficiency as the most important element of success in the competition of banks. Therefore, in this study, the effects of Banks' Cost Efficiency on the quality of financial reporting have been measured. In this regard, the data of 12 specialized and commercial banks of the country over the period 2010-2019 have been collected and then measured using the data envelopment analysis approach. moreover, to measure the quality of accounting and financial reporting information, the model of Dechow and Dichev (2002) based on data panel data during the period 2010 to 2020 was estimated by GMM method. We find that the efficiency of doubtful debts cost has a positive and significant impact on the quality of accounting and financial reporting information index. In contrast, the the efficiency of other fixed costs including the efficiency of financial costs, general, administrative and organizational costs and depreciation costs, have a significant negative impact on the quality of financial accounting and reporting information index