JOURNAL OF ACCOUNTING AND AUDITING RESEARCHES (ACCOUNTING RESEARCH)
Year:2018 | Volume:9 | Issue:36 |Papers Count:12

In this paper "Relation between Investment Cash Flows And Financial Leverage on the Garanted Companies in Tehran Stock Exchange" is analysised. Main goal this research is to find out whether between Financial Leverage In selected companies in a determined period of time And Investment Cash Flows relation excite or not? This research is limited to the companies which have attended the bourse In years 1388-1392 and have provided their capital at least once. In this research by applying of formula volume estimate in stance for specific society and by attention rules instance, thirty five company under the title of statistics instance is tested. Way research is discripty of kind alliance, that relation Financial Leverage and Investment cash flows by applying of models statistics alliance is tested and results of analysis on the statistics instance overal society is provided. The result of this study shows that there is not the relation of between Investment Cash Flows And Financial Leverage on the granted companies in Tehran Stock Exchange.

Financial intermediaries are investment companies in the group and the company's assets are their people that the savings are used and the financial stability of the company is very important. The aim of the present study was to investigate the factors affecting the financial sustainability of investment firms accepted in Tehran Stock Exchange is 1389 to 1394. The research method of the present study and application of descriptive – correlation, in this research; linear regression model is used in order to test the hypothesis statistical a method which is used in this research is panel data method. The model presented and the results of the assumptions of the classical regression model, the study explained. The results showed that all three variables, net income, total assets and aggregate equity investment firms have a significant impact on financial stability So that increase profitability and equity investment firms led to their financial stability and increasing financial stability in the wake of the asset is reduced.

The goal of this research is the investigation of the Impact of Qualitative Characteristics of Accounting Information on Cost of Common Stock Capital in accepted firms in Tehran Stock Exchange. For the study, 133 companies listed in Tehran Stock Exchange for the five-year period from 2008 to 2013 were reviewed. However, data from the years 2006, 2007 and 2014 have also been used to calculate and measure variables. To test the hypothesis at the5-year period of study a combination of fixed effect regression models (according to the results F-Limmer and Hausman test) was used. Overall, the results suggest that in level of entire companies, only the effect of conservatism on the cost of capital (expected return on equity) is negative and significant and other qualitative characteristics of accounting information is not affected on cost of common stock capital. This reflects the fact that respect for conservatism in financial reporting from the perspective of investors in the capital market of Iran, relevant and effective, and their expected return is reduced.

One of the final aims of the institutions working on transparency and standardization of financial statements, has been to set a uniform global set of standards. In 2013, the Board of the Tehran Stock Exchange permitted all listed companies to prepare their consolidated financial statements in accordance with International Financial Reporting Standards (IFRS). Also, all major companies accepted in Tehran Stock Exchange are required to prepare their financial reports based on IFRS after 20 March 2016. This study evaluates the point of view of users of financial statements about the adoption of IFRS. The results show that passing the usefulness (cost-benefit) test and education could significantly and positively help receive the perceived advantages of adopting IFRS. In other words, doing a serious costbenefit analysis before using IFRS, and providing education of IFRS at university level and through professional bodies, will increase the benefits of adopting IFRS, and hence, increasing reliability and integrity of the financial statements.

The main purpose of the company is acquiring profit or increasing the wealth of shareholders and management is responsible to achieve this goals. In fact Shareholders as owners of the company assign responsibility of acquiring appropriate return on assets to managers and executive compensation is based on their performance. This agency contract is caused agency cost and if the agency costs raised in a firm, the conflict of interest increased in that firm. This research examined the relationship between free cash flow, dividend payments and some of the corporate governance criteria variables (board size, board independence, CEO duality task and institutional ownership) and agency costs with the particular emphasis on the ratio of total operating expenses to sales. Due to the limitations of the research, this article choose 95 companies of listed companies in Tehran Stock Exchange during 2009 to 2013. The result shows that there is a meaningful relationship between free cash flow, dividend payments, board independence, CEO duality task, institutional ownership and agency costs.

Today, Regarding to competitiveness of markets, optimized arrangements of sources is a vital and non-avoidable for retaining the situation and improvement of the organization, in order to maximizing desirability in its life cycle, companies adopt different policies. In this study, the relationship between life cycle and capital structure and other factors related to capital structure (profitability, liquidity, visible estate, the company size, Age, non debt tax shields, and growth opportunity) were studied. For achieving this goal, proposed by 8 theories, in this research 114 companies and in other words 570 years-companies were studies as sample from 2009 to 2013. Panel data method is used because of the kind of research data, and two regression methods were used for studying research variables relationship with capital structure. In the first model LCSR and in the second one, RE/TA (as life cycle representative) measured to capital structure. For ranking companies, Park & Chen methodology has been used. The study hypotheses have been examined, using Stata11. Results show that there is a meaningful relationship between life cycle stages rank, retained profit to total assets, visible estate, profitability and capital structure, according to these two models. Lifetime variable has no meaningful relationship with capital structure. And, there is a vague relationship between size, growth opportunity, and non debt tax shields with capital structure. This means that these variables are meaningful in one model but meaningless in the other. Then, we can not talk about meaningfulness or meaninglessness of these variables with certainty.

The main objective of this study is to test the asymmetric risk pricing and compare the effect of asymmetric risk measures and traditional measures of risk on expected return is to explain the volatility anomaly. For this purpose, a sample of 101 companies listed in Tehran Stock Exchange during the period from 1381 to 1392 is selected. To test the effectiveness of traditional and asymmetric measures of risk on expected returns is used the Fama-Macbeth (1973) model and portfolio analysis approach. The results is show a positive and significant effect traditional measures (Standard Deviation and Semi-Standard Deviation) and asymmetric risk (Value at Risk parameteric and HR) on the expected return. The results also indicate that the control factors effect such as financial leverage, firm size, book value to market value, liquidity, reverse and momentum is not to change the positive relationship between different measures of risk and expected return.

Emerging equity markets such az Iran generally need an exogenous liquidity supply in order to accelerate their development. Margin trading represents an important vehicle which promotes exogenous supply of market liquidity. Adequately regulated margin trading can increase market efficiency and improve price discovery. Margin purchase facilities require regulators, financial intermediaries, and investors to have heightened risk management skills in addition to robust market infrastructure. Despite their standardized features, the actual design and operation of the market infrastructure necessary for margin trading should be country-or market-specific. the key components of this important market infrastructure must be flexible so that they can change over time. traditional pattern of margin trading is The giving loan to brokerage company by banks and then brokerage take loan to the customers against adequate colateral. This paper uses analytical method and field study through questionnaire from financial and Religious Experts and by using Murabaha and Wakala contracts indeed optimization of present pattern in Iran, presents new patterns Financing by the investment fund and Financing by the spv.

There figure Prior Period Adjustments in annual financial statement can be influence on relied this matter and some of the body affected by. The purpose of this research is investigating the effect of Prior Period Adjustments on the firm growth has been listed in Tehran stock exchange. This research was conducted on 143 firms that has been listed in Tehran stock exchange during the period 1381 to 1391. This research has the main hypothesis and the main has three subsidiary hypotheses. In order to measuring of the firm growth used three criteria including growth of sales, assets and profitability has been used. The Methodology was applicable and the type of correlation studies. The results of the hypothesis test shows Prior Period Adjustments did not have significant effect on growth. Other findings show that market to book value ratio has a positive and significant relation with all of the growth variables.