JOURNAL OF ACCOUNTING AND AUDITING RESEARCHES (ACCOUNTING RESEARCH)
Year:2010 | Volume:1 | Issue:4|Papers Count:14

According to the "resource based view of the firm", intellectual capital is a strategic resource that contributes to competitive advantages and superior financial performances. Therefore, the purpose of this article is to investigate the impact of intellectual capital on current and future financial performance of listed companies in Tehran Stock Exchange (TSE) by using the "partial least square" technique. The data sample is related to 120 companies on the (TSE) during 1383 to 1385. The results of the hypotheses demonstrate that there is a significant relationship between current and future financial performances and the intellectual capital at both whole companies and' the industrial level, regardless of the firm size, debt structure and pervious financial performances. Further analyses of these findings would indicate that this relationship is positive. Furthermore, generally the relationship between firm size and both current and future financial performances is significantly negative and the relationship between pervious performances and both current and future financial performances is significantly positive at both whole companies and the industrial level. However, the relationship between debt structure and both current and future financial performances is significantly positive at whole companies level and at the industrial level. This relationship is significantly positive in chemical and pharmaceutical industry; however, it is unclear in other industries.

Past studies regarding cash flow and accrual accounting basis in predicting future cash flows give mixed results. The current study investigates the ability of cash flows accounting and accrual component of earnings information to predict future cash flows of companies listed in Tehran Stock Exchange. The sample used for this research comprises non-financial companies listed in Tehran Stock Exchange that financial statements are accessable in the period 1380 to 1385. To test the relevant hypotheses in this study two sets of regression models univariate and multivariate models are constructed to predict future cash flow.The empirical results show that both Variables past cash flows and accrual component of earnings have ability of predicting future cash flows. The findings of testing the models show that adding the accrual component of earnings to cash flow model improve the predictive power of the model.

The objective of this study is examining the relationship between Corporate Governance attributes and earnings management in Tehran Stock Exchange during 1380-1386 (2002-2008).The role of corporate governance is to reduce the divergence of interests between shareholders and managers. One example of management's deviation from shareholders' interests is the management of earnings through the use of accounting accruals. Therefore, corporate governance is likely to reduce the incidence of earnings management. This line of research was initiated by Beasley [12] and Dechow et al [24]. Both papers empirically show that certain attributes of corporate governance are generally associated with earnings manipulations. Other empirical studies established an association between corporate governance and earnings management (e.g. Peasnell et al [55], Chtourou et al [20]). In this study, Corporate Governance is measured by these attributes: Ownership concentration, Institutional Ownership, CEO Dominance, Duality, Board size, Board Independence, Debt reliance and CEO Tenure. Earnings management is measured using the magnitude of abnormal accruals.The research Hypothesis is tested utilizing Linear Multi Regression by Pooled Generalized Least Squares (PGLS) and Ordinary Least Squares (OLS) models.Results show a negative significan relationship between Institutional ownership and earnings managemen as well between Board Independence and earnings management. In addition, there is no significant relationship between other Corporate Governance attributes (Ownership concentration, CEO Dominance, Duality, Board size, Debt reliance, CEO Tenure) and earnings management.

The Study, evaluation and orientation of high education in the four five-year economical, social and cultural development programmers of Islamic Republic of Iran (1368-88) Show that these Programmers face with several challenges in the continuation of Programmers, traditional educational methods and the mismatch of the content of the syllabi of different fields of study with society needs (Arefi: 1388). The Programmers being implemented in the high education is far away from the desirable status and there should have been improvements in the structure of the curriculum, kind of lessons, volume of materials and predicted time considering the principles of credit, balance, combination and unity in order to put high education in a suitable theoretical and practical status and position (Jahani: 1384).In this study, students, professors and professionals' views in the field of accounting of the priority of specialized accounting branches, the content of technical lessons, the number of credits of each technical lesson and the most effective accounting pedagogical method hove been analyzed and determined in order to design a framework for B.A., M.A. and Ph.D. degree of accounting educational planning.In this descriptive and cross - sectional research, analogical reasoning to adjust those five hypotheses and analytical statistics to test the hypotheses have been used and to analyze the differences among the sample views, the variance analysis based on faze approach has been used. The results obtained from the tests on hypotheses show that there is significant difference among sample views about the five research parameters and the results obtained from the factorial analysis indicate that professors of financial accounting. Ph.D. students of management accounting and the professionals of the field have know auditing as the first priority to apply for the needs of financial society and in the case of new subjects, university professors and Ph.D. students have known the unit of management accounting as the first priority, but the managers working in the field have known the unit of financial reports preparation and explanatory notes as the first priority.

In Islamic banking system, the process of paying the profits to the depositors can be considered as a significant concern. The aim of this study was to identify whether the definite profits paid by the banks were in compliance with the method cited in C.B.I notification (based on the Riba-Free Banking Law) and to determine whether it ensured the observance of the depositors' rights. Here, the process of computing the definite profits of long-term deposits was investigated. Since the accounting profits are determined based on some certain regulations in Iran's accounting standards, the profits would be computed and paid to the depositors at the end of the financial period according to the profits presented in profit-and-loss statements. This study tried to compare the realized profit being the basis of the definite profit payment with the real values resulted from applying the long-term investment deposits. Here, the researchers applied a descriptive approach and a data-gathering method through studying some certain scientific references and documents of a sample bank in financial year 1384 (i.e.2005-2006). Having analyzed the data, in addition to clarify the research question, in order to improve the Islamic Banking System, a new model was presented.

The "demand" hypothesis holds that earnings of listed companies are of higher quality due to the demand by public investors. One of the attributes associated with the notion of financial reporting quality is conservatism. We investigated conservatism in financial reporting in a sample consisting forty companies, before and after listing in Tehran Stock Exchange (TSE) during 2003-2009.This paper illustrates the effects of public ownership of equity on the extent of conservatism. We used statistic techniques including T test, wilcoxon and regression to test the hypotheses. The result shows the conservatism in financial reporting decreased after listing. Therefore, the findings are inconsistent with the demand hypothesis.

This paper studies the relationships between some economic variables (inflation rate, interest rate and growth rate of gold price) and Tehran stock exchange (stock market return and the growth rate of stock transactions volume) during April 1998 to March 2008. Moreover, the interest rate has been demonstrated using two variables: the return of bonds and the interest rate of one-year investing deposits in state banks.The two methods applied to test the hypotheses are: multivariable simple regression estimation using OLS estimator as well as co- integration regression estimation using JOHANSEN test.The findings of econometrics methods) Johansen test & VAR model (show that inflation has a positive and meaningful relationship with variables of Tehran stock exchange in the long run, and its growth will lead to an increase in the return and growth of stock market transactions. Although since june2003, the investment in stock market has not been a protection against inflation, stocks would have been a protection against inflation before this.for investigating the relationship between money market and capital market when The interest rate of one-year bank deposits was used, it showed a reverse meaningful relationship proving that an increase in bank interest rate through drawing investments results in a reduction in the return and stock transactions volume. So these two markets can be considered as two competing and supplementary markets in the long run. But when the return rate of the bonds was used as a demonstrator of the money market, a positive meaningful relationship was achieved which shows that the bonds are not the competitor investing chance for stock and the increase in its return rate has no negative effects on the stock market. As far as the relationship between gold return and return and growth of stock transactions volume is concerned, the results of vector-error correction model show that gold market could be a substitute for stock market in a short term and gold return plays an important role in explaning the stock market trend in the short run, while this relationship is not meaningful in the long run.

Disclosure of information reduced asymmetry of information and affect on liquidity of stock. In spite of these potential benefits, Most of the researches regarding the relationship between disclosure and liquidity of stock have been conducted in the industrial countries and the lack of this line of research in the emerging markets is completely observable. So we examine the relationship between disclosure information and liquidity of stock in emerging stock market ofIran which Liquidity is measured through the bid ask spread of shares and degree of disclosure is measured by score of each company according of checklist of disclosure accounting standards. We conduct our research on a cross-sectional study of 112 firms listed on the Tehran stock exchange in 2007, we find that there is an negative relationship between information disclosure stock and stock Liquidity. This study can be benefited for accounting standard policy makers and stock exchange market.

This research is replying to this question whether accrual anomaly is based on risk or is result of investor mispricing of earning. Recent research provide evidence that the ability of accruals to explain future returns is subsumed by the operating cash flows-to-price ratio (OCF/P) and conclude accrual anomaly do not likely cause in the mispricing of earnings [15]. In this research, this result will be examined by testing the relation between (abnormal) accruals and both future annual returns and future earnings announcement returns. Also will be used zero- investment portfolio analysis. For this reason, a sample of 69 firms accepted in Tehran Stock Exchange (TSE) during the period of 1379-1385 examined. Results indicate that OCF/P does not subsume total accruals (abnormal) in explaining future annual returns and announcement returns. And then accrual anomaly isn't a manifestation of the value- glamour anomaly.

Different financial events can endanger the financial resources of a credit corporate. Some studies in this field have considered the failure of the creditor a credit risk and they have offered some models to predict them. But the financial distress which causes the corporate to become temporarily unable to pay their debts back usually happens before the failure. Therefore, by offering a suitable model and conducting credit rating, we can predict it, and provide the required time for corporate reaction, and also help the investors to evaluate the appropriate opportunities and unfavorable ones. Different models like discriminant analysis, logistic regression, neural networks, data envelopment analysis (DEA), and etc. have been used in the field of credit rating among which DEA has been of considerable attention to those interested in the field of rating due to its flexibility.In this study, the accuracy and credit of DEA in credit rating has been tested by means of information of two groups of manufacturing corporate in stock market and seven financial ratios chosen. The first group consists of 40 corporate in financial distress and the second group of corporate which are not in financial distress. The hypotheses of the study have been tested through the average comparison of two populations, correlation analysis, and simple linear regression.The result of the study showed that there is a meaningful correlation between the calculated efficiency using the DEA and the ability of corporate debt paying ability on due date. Some ratios have been proved to be the most appropriate ones in credit rating, these are: the financial ratio of total debt to total assets, debt-equity ratio, current ratio, ratio of circulating capital to assets, ratio of cash to debts, return on assets, and times interest earned.At last, efficiency rate of 80 corporate have been investigated, calculated and their rate have been defined. The result of rating showed that the corporate which were not in financial distress had a much better rate that the corporate who were in financial distress.