فصلنامه پژوهش های تجربی حسابداری
سال چهارم شماره 1 (پیاپی 13، پاییز 1393)

This study examines the effects of business cycles on the stability of bankruptcy prediction models in Iran economic environment. In this study، business cycles are identified by Hodrick-Prescott Filter and bankruptcy prediction is examined by Logit and Discriminate Analysis models. The sample consists of 118 firms listed in Tehran Stock Exchange for the years 2002 to 2011 and the hypothesis is tested by comparing the efficiency and stability of the fitted Logit and Discriminate Analysis models in the business cycles. Empirical findings of the study suggest that Business cycle has effects on the efficiency and stability of the models. In other words، the efficiency and structure of the models are different in each phase of economic cycle. On the other hand، Designing the models and comparing their efficiency indicate that the logistic regression was more efficient than discriminate analysis in bankruptcy prediction.

The main purpose of this study is to investigate the effect of accounting conservatism on the value of cash holdings in firms listed in Tehran Stock Exchange. The statistical sample of the study includes 94 the firms listed in Tehran Stock Exchange (TSE) over the period from 2006 to 2012. We use Pooled Panel-Data Regression and EGLS method to estimate the model parameters. The results show that a change of a Rial in cash holdings is associated with less than a Rial change in market value. Furthermore، the results indicate that accounting conservatism increases market value of an additional Rial in cash holdings.

Changes in the business environment have caused changes in risk management approach from atomistic into the holistic one. The aim of this study is to examine the relation between Enterprise Risk Management techniques and organizational performance. The sample includes food industry firms listed in TSE from at least one year ago. This study uses Coso book model for quantification of Enterprise Risk Management. Also the Pearson correlation test has been used to examine the relation between independent variable (Enterprise Risk Management) and dependent variable (Organizational performance). The results indicate a significant positive relation between Enterprise Risk Management and Organizational performance; also examination of sub- hypotheses shows that only strategic risk management has no relation with organizational performance.

The purpose of this study is to investigate the effect of operation diversity of business groups and kind of industry on the intragroup debts. A firm is a member of business group if it has a subsidiary firm or is a subsidiary of another firm. The study sample consists of 91 firms listed in Tehran Stock Exchange during the 2001 to 2010. All of the firms are a member of a business group. The index of sample firms'' intra-group debts has been calculated by dividing intra-group debts by the sum of debts. In order to test the research hypotheses، T-test and ANOVA test have been used. The results indicate that member firms of diverse business groups have higher intra-group debts than member firms of non diverse business groups. In other word، the intra-group financial relations of the member firms of diverse business groups are higher than member firms of non diverse business groups. Also، the results show that the type of industry affects the intra-group debts.

Providing information to promote managers'' decision making level is one of the main tasks of accountants. So IT is a basis of accounting information، such as accrual accounting system. The method used is survey and the questionnaire- made by the researcher- is distributed among accounting staff employed at main headquarters of university، all faculties، and assistants of Kermanshah Medical Science University. The research sample consists of 75 people and Partial Regression is used to test research hypothesis. The results show that IT plays an important role in manager''s planning and decision making، data and information managing، assessment of the performance of organizations and employees، increase of data security and using better methods of financial reporting and human resource management. Thus، since the factors mentioned above are effective on developing an accrual accounting system، it can be said that an appropriate information technology is the most essential factor in developing an accrual accounting system.

This study is aimed to examine the relation of business strategy with earnings quality and stock return in firms listed in Tehran Stock Exchange during the period from 2005 to 2012. The sample includes 99 firms and the study is a descriptive correlation one. To test the hypothesis، the panel data model and ordinary least squares (OLS) method are applied. In this study، from the business strategy point of view، firms are classified into two groups of prospective and defensive ones. To determine a firm''s strategy، Ittner et al (1997) composite scoring system has been used. Also، to measure earnings quality variable، two indices of accounting conservatism and earnings management are employed. To measure accounting conservatism، the Givoly and Hayn (2000) conservatism index and to measure earnings management، the scale of the total discretionary accruals (according to adjusted Jones model) have been used. The results indicate that the level of earnings management in defensive corporations is higher than offensive (pioneer) corporations. Also، the results imply that the economic environment affects the relation between business strategies and earnings quality of a firm. Moreover، the results show no significant relation of firms'' strategy with their level of conservatism and stock returns. Furthermore، it was found that the economic environment has no influence on the relation between business strategies and stock return of firms.

This research estimates a measure of systemic risk, namely Systemic Expected Shortfall, as the aggregate amount of capital that financial institutions need in order to offset a certain fraction of liabilities when the financial system is undercapitalized. Each financial institution’s SES is a combination of market capitalization, appropriate capital adequacy ratios and liabilities. The main purpose of this study is rating the financial institutions in the current economy. To do this, a sample of 31 financial institutions listed in Tehran stock exchange during period from 2009 to 2012 was selected. Therefore, this study: (i) derives the appropriate leverage level that allows financial intermediaries don’t have negative externality to overall economy during the possible crisis; (ii) explains the ability of the Marginal Expected Shortfall and insolvency risk measures to estimate the percentage variation of market capitalization and liabilities using multiple Regression; (iii) identifies the most systemic importance of financial institutions (SIFIs), using SES.

To restrict undesirable investor’s perception and create awareness about future prospects، companies may make voluntary disclosure. Providing voluntary information about identification، measurement and disclosure of accounting numbers in financial statements lead to attract investors and effectively help to improve the company''s financial position and managerial popularity. The aim of this study is to investigate the relation between voluntary disclosure and performance of firms listed in Tehran Stock Exchange. Based on 80 companies information during 2002 to 2011، the results show that there is no significant relation between voluntary disclosure and return on assets and return on equity; but there is a significant positive relation between voluntary disclosure and efficiency scores calculated by Data Envelopment Analysis as a comprehensive measure of performance.

This study investigates the relation between information uncertainty and investors’ under reaction، in other words، whether information uncertainty results in higher investors'' under-reaction which is one of the abnormalities of efficient capital market. The sample includes 106 firms listed in Tehran Stock Exchange over the period from 2007 to 2011. We used a sample of 106 companies to test hypotheses. In this research، we used abnormal return volatility، earning forecast dispersion، and earning forecast error as three proxies for measuring information uncertainty. These three criterions are weighted by using factor analysis method and applied as one single factor. We used Equality of Tow Means Test for statistical analysis of research hypothesis. The results indicate that information uncertainty has a positive relationship with investors’ under-reaction.

This article examines the interactive effects of academic training and in service training and experience on auditors'' judgments at different levels of complexity. For this purpose، a questionnaire based on Simon model (1960) has been used according to which judgments are classified and ranged from planned judgments to unplanned ones. To test the hypotheses، T-test and U Mann-Whitney has been used. The research population consists of lecturers and students and practitioners in the auditing profession. Results indicate that in the more complex tasks، in service training، academic training and experience have a significant effect on the auditor''s judgment. Also، the results show that the low degree and less experienced auditors on complex tasks، particularly in unstructured tasks are not safe substitutes for accountants. So it seems that it is better to assign the auditors with more in service training or higher academic training in these situations.

This study is aimed to examine the relation between auditor tenure period and accounting Conservatism in Tehran stock exchange. Statistical population consists of 49 firms listed in Tehran stock exchange over the period from 2006 to 2010. To measure conservatism، we use the Givoly and Hayn، and Khan and Watts models. To examine the research hypothesis، Panel Data has been employed. The Results of this study show that there is a significant and positive relation between Conservatism and auditor tenure in all the firms.