فصلنامه دانش حسابداری مالی
سال دوم شماره 4 (پیاپی 0، زمستان 1391)

Separation of ownership from management, scandal of big firms, financial crises, disorder of capital markets and. .. lead to disappear Investors’ confidences and cause to increase their concerns of capital market. The purpose of this research is to investigate the relationship between “independent audit quality” as an independent variable, and “earnings management” and “cost of equity capital” as dependent variables. Market shares of the audit companies used for calculating auditor industry specialization as an audit quality proxy. Earnings management was calculated through discretionary accruals, using modified Jones model. Considering some characters, statistical society includes 147 listed companies on Tehran Stock Exchange during 1386 to 1389. The results show, a converse relationship exists between audit quality and earnings management. Furthermore, cost of equity capital decreases via increasing audit quality. In the other words, there is a significant relationship between variables.

The main purpose of the present research is to determine the effects of information disclosure on relation between conservatism and cost of equity.To test the hypotheses, a sample of 90 firms listed in Tehran Stock Exchange (TSE) from 2003 to 2011 was selected and multivariable Regression Model was used as pooling data method. The results of the research hypotheses showed that there is a inverse relationship between conservatism and information quality disclosure with cost of equity. Eventualy it distincts that, in firms which use low information quality disclosure, conservatism is a good lever to reduce cost of equity

This paper estimate a gold index price and real exchange rate and oil price on Tehran stock exchange index whit daily data from 2005/03/20 to 2011/03/17. In order to operationalize the cointegration test, we use Johanson-julselius and VECM and use generalized impulse response function and generalized variance decomposition method to analysis the dynamistic effects of impulses in gold price and real exchange rate and oil price on price index. According to this paper, there are no strong significant between gold price, real exchange rate and price index in long run. So in long run, one percentage increases in gold and oil price will reduce 0/55 and 1/55 percentage and will increase 13/24percentage in price index. At the end, real exchange rate and oil price appear robust to explain more variation's price index and real exchange rate and oil shock are almost as important as gold price in unstability.

The main purpose of this paper is to investigation of the impact of company characteristics on working capital management. In this regard, the current ratio, quick ratio and sale growth is controlled. In this study, cash conversion cycle were used as the proxy for working capital management and used variables growth opportunities, profitability, capital structure, operating cash flows as the companies specific characteristics. The data used consists of a sample of 80 firms that are publicly traded in the Tehran Stock Exchange (TSE) in the period 1384-1389. A multi-variable regression model is used for testing of hypotheses and data analyses. The results from hypotheses testing show that there is a significant negative relationship between growth opportunities and operating cash flows characteristics to working capital management. Also there is a significant positive relationship between capital structure characteristic to working capital management. In addition, results showed that there is no significant relationship between profitability and cash conversion cycle.

This study investigated the impact of cost of capital on dividend policies of companies listed in Tehran Stock Exchange. In order to realize the objectives of the research, twelve hypotheses are developed that examined Significant relationship between cost of capital and dividend policy of the companies. The statistical method used to test hypotheses raised in this study, is “Panel Data” and To test a hypothesis, a model is estimated. Statistical sample of this study includes 71 companies during a ten-year period between 2000 to 2009. The Results of the research hypotheses show that cost of equity, cost of retained earnings and the weighted average of cost of capital has a significant effect on corporate dividend policy But In this study, significant relationship between the cost of debt and dividend policies of companies has not found.

This study examines the mediation effect of audit quality on the relationship between agency problems and financial reporting quality among the listed firms of Tehran Stock Exchange during the years 1383-1389. For this purpose in addition to panel regression analysis, the structural equation modeling method is used to test the proposed hypothesis. Research findings indicate that free cash flow has negative and significant relationship and Financial Leverage and Ownership Board of Directors has positive and significant relationship between financial reporting quality. The effect of audit quality as a mediator variable in the relationship between agency problems and the financial reporting quality has not been confirmed by using panel data analysis, but findings of structural equation modeling indicate that audit quality play as a mediation variable on the relationship between agency problem and financial reporting quality.

The worry audit effects of extended edit relation to employer on auditor independence lead to compilation of law based on relation limitation while auditor mandatory replacement is approach to increase independency and legislators pointed to it, there are conflict evidences to support this issue. Due to legislators worry about effects of extended audit tenure, this research is related to extended audit tenure effect on auditor independency. auditor independency is measured based on 5 factors as self interest threats, self review threats, advocacy threats, familiarity threats and intimidation threats. To gather data, questionnaire is applied and 108 persons of Iranian association of certified public accountants completed them and due to abnormal data, sample double sign test is used. Research results confirm effects of extended audit tenure on independency and six hypothesizes are confirmed research findings show auditor independency have been threatened during extended audit tenure more than short term tenure. Therefore, audit mandatory replacement is not necessary during extended audit tenure.