فصلنامه تحقیقات حسابداری و حسابرسی
پیاپی 8 (زمستان 1389)

This paper investigates accounting information reliability by earnings quality with a balance sheet approach. So we introduce a comprehensive definition and categorization of accruals in which each accrual category is rated according to its reliability. The research suggests that the recognition of less reliable accrual estimates introduces more measurement error that reduces earnings quality.

MA in Economics, Expert in Securities and Exchange OrganizationTo be acquainted with the relation between deferent markets which are presently considered as the investment opportunities of the national economy provides the policymakers of the stock exchange with material information for making decisions to maintain liquidity and consistency of these markets. Concerning the liquidity level of each asset in national economy, one may regard the stocks, foreign exchange and gold markets in a same order and examine the sensitivity of such markets to each other's return movements. This has been examined and also upon two deferent regressive models (Simple Regressive and Vector Autoregressive Models), and by using seasonal data, the foreign exchange rate behavior (Dollar) in official and non-official markets and also the gold coin price against the percentage of TSE index movements have been examined. According to the results of this estimation, although the static relation between the foreign exchange and stock markets is positive, the VAR model shows that the capital gain in stock market has a negative and significant relation with foreign exchange rate movements in non-official market during last season. This stipulates that having a fixed liquidity growth, the positive changes in foreign exchange rate, in short term, and may absorb the stock market liquidity because the growth in foreign exchange rate may result in capital gain decrease in the stock market.

Information content is one of the accounting criteria which refers to it’s usefulness in decision making. Former researches have paid more attention to information content of accounting earning digit. Object of this paper is examining information content of earning by considering earning and cash flow volatility cycles.Statistical population in this research is firms listed in Tehran Stock Exchange (TSE), therefore based on considered conditions 50 firms selected over 1999-2009. Panel analyses are used for analyzing data.Findings show that accounting earning include information content. Other findings represent that information content of accounting earning has decreased in the firms having smoother earning.

This paper investigated the materiality of prior period adjustment. This adjustment arises of change in accounting procedures and correction of important errors of prior periods. If prior period adjustments are material, the reliability of financial statement will be decrease and awareness of financial statements users from effects of prior period adjustments will be use full.The materiality measured at overall prior period financial statements level and prior period adjustments obtained from retained earnings statement. Financial statements of 181 firm listed in Tehran Stock Exchange in period 1381-1386 are investigated. The results of empirical tests indicated that amount of prior period adjustments is greater than materiality at overall prior period financial statements level. Therefore materiality of prior period adjustments in financial statements is sign of inadequate reliability of financial statements.

While passing 10 years from application of accounting guidance and accounting standards by all public firms, this research attempts to examine the effects of applying accounting standards on accounting quality. The sample includes 75 firms listed on Tehran Stock Exchange during 1375 to 1387. According to Barth et al. (2008), earning management, timely loss recognition and value relevance are considered as accounting quality criteria. The hypothesis was tested using multivariate and logit regression models in the both pre and post accounting standards adoption periods. The results showed that mandatory adoption of accounting standards has led to increasing in timely loss recognition and to decreasing in management earnings and value relevance. So accounting quality has been enhanced from management earning and timely loss recognition perspectives, but declined from the value relevance perspective.

The goal of this research is to study of conservatism effect on Earnings Persistence. Dechow says “The best kind of revenues and expenses checking is the match of current revenues against current expenses”. However, conservatism higher recognition of losses and decreases in assets value, is caused to match a portion of next period expenses against current revenues. Such a conservative matching is caused to more Income fluctuation and leads to higher Income instability. In this research is assumed that in step with higher conservatism in financial reporting, the Income stability is decreased. Using information of sample, including 155 listed companies of Tehran Stock Exchange during 1377 to 1386, empirical test results represents that there is a negative significant correlation between conservatism and Earnings Persistence.

The spate of corporate scandals in the last years points to a failure of corporate governance in effective monitoring on managers decisions and corporate performance. Reforms require the increasing in effective monitoring on corporate performance. One of effective mechanism on corporate governance is the emergence of institutional investors that is very important. Institutional investors have ability and incentives to monitor the companies. In this study, institutional ownership role in the corporate performance is examined from 1998 to 2006. Three indexes (tobins,Q, return on assets and net income margin) are used to measure corporate performance. The results demonstrate evidence of a positive association between institutional ownership and corporate performance. In addition, this study classifies Institutional investors in two categories (active Institutional ownership and inactive Institutional ownership) and examines their relationship with corporate performance. Findings always show that these two types of institutional investors significantly positive related to corporate performance. Therefore we don, t say that being active and inactive affect on monitoring role of institutions.

Minimizing the cost of capital and increasing the value of the firms’ stocks were one of the most important and key debates of the previous decades. Effective factors on financial managers’ visions in relation to sources and uses of capital were determined based on the internal characteristics of the organization and also the external environment. The present study investigated the effect of company’s characteristics such as size, asset structure, profitability, expected growth, interest coverage ratio, quick ratio and return on assets (ROA) on the capital structure of 103 listed firms of Tehran Stocks Exchange over the period of 1381-1387 using screen sampling method. To do so, a combination of panel and time series data were used for evaluation and testing. At the beginning of the evaluation, Hussman and F tests have been applied for estimating the method in order to select the best model among the ordinary combined data, namely the fixed and random effects. In this research, Eviews 6 and Excel softwares have been applied to estimate the variables. The results showed a negative and significant relationship among firm’s debts, asset structure (fixed assets to total assets ratio), profitability (marginal profit before interest and tax), and market value to book value, quick ratio and return on assets (ROA). In addition, there is a positive and significant relationship between firm’s capital structure, size and interest coverage ratio.

The investigation into the financial crises in stock markets worldwide reveals that lack of financial information transparency has been leading reasons of the incidents, that have caused investors significantly lose their confidence regarding secure investment in stock markets. The purpose of this comparative study is examining the role of investor perception of financial information transparency dimensions in explaining investor behavior in the Tehran stock market based on similar research model in Taiwan stock market and compare the findings of this study with the findings of the research that carried out in the Taiwan stock market.This study utilized a correlation type descriptive-analytic method approach of the kind of correlation matrix analysis, and for collecting data it used a quantitative method approach on a survey instrument. The study also qualitatively and through content analysis techniques compared the content of findings of researches in the Iran stock markets with the similar one in Taiwan.Findings indicated that improved financial information transparency can lead to win investor confidence and increase investor activity in the Iran stock market. In addition, comparing of the content of findings of this study with the similar one in Taiwan stock market made it clear that Taiwanese investors’ behaviour was more under influence of their attitude towards financial information transparency dimensions than Iranian investors’ behaviour. In other words, there are other factors that affect on investor behaviour in the Iran stock market in addition to financial information transparency. These factors were not taken into account in this research model.