FINANCIAL ACCOUNTING
Year:2015 | Volume:6 | Issue:24|Papers Count:11

The purpose of this study is to investigate the association between client-specific investment opportunities and audit fees of industry specialists among accepted firms of Tehran Stock Exchange. In this study, we use market to book value of equity as the index of client-specific investment opportunities and specialization multiplied by client-specific investment opportunities as the index of fee premiums. In this regard, to explain the association between client-specific investment opportunities and audit fees of industry specialists, two hypotheses are edited. So, the data regarding to the accepted firms of Tehran Stock Exchange is gathered for the period 1385 to 1391 and the combined data regression model is used to test the hypotheses. The results show that the association between client-specific investment opportunities and audit fees of industry specialists is significantly positive. Client-specific investment opportunities, also, significantly affect the fee premiums in negative direction.

Prior studies on the incremental predictive ability of accrual models over cash flow models with respect to future cash flows led to conflicting results. This paper extends the model of the accrual process developed by including cash flow implications of growth in future sales and using direct observations on the new model's parameters. The Barth, Cram, and Nelson model is further modified to allow the incorporation of accrual-based prediction of future sales. The evidence shows that the incremental predictive ability of accrual models in not uniform across firms. The paper also investigates the factors that affect the cross- sectional variability in the incremental predictive ability of accrual models specifically, the incremental predictive ability of the accrual models in found to be decreasing in the volatility of earnings and sales as well as decreasing in the volatility of the ration of inventors to future sales. The evidence supports the hypotheses that the incremental predictive ability is increasing in size.

With regard to importance of auditors task for accrediting financial statements and the fact that shareholders combination is one of the main internal factors of companies governance system, so the main purpose of this research is studying effect of ownership structure on audit fee and independent auditors opinion in companies listed in Tehran stock exchange. By testing individual hypotheses of research and using multivariate regression in panel method for 69 companies in 2007-2012 period ,it was determined that ownership of share percent by institutional investors has positive significant effect on companies audit fee. Also, results of research show that share ownership by institutional investors has the significant negative relationship with issuance of qualified audit opinion. And no significant relationship was observed between management ownership with qualified auditors' opinion and audit fee.

In this paper, Guile’s and Hayne’s model has been adopted to measure the conservation. Furthermore, we have used Tehran stock exchange ranking system to measure the voluntary disclosure. In this system, the companies that have been ranked are based on their disclosure quality. On the other hand, the size of the company and the debt ratio are used as the control variables. Regarding the theoretical background of our topic, we have used the library sources, books, and articles which were related to our paper To test hypotheses, the data of 97 listed companies at Tehran stock exchange have been used. The data were gathered over a six-year period from 1385 to 1390. Regarding preliminaries data, they have been extracted from the financial statements and their accompanying notes. The method of least square regression and pooled data has been used in order to test these hypotheses. The findings of the study show that there is a negative relationship between the conservatory and voluntary disclosure in the big and small firms. Moreover, the results explain that the relationship between the firm size and the level of voluntary disclosure of information is a positive and a significant relationship. On the other hand, at the making the comparison between the big firms and the small ones, we get a lesser voluntary disclosure.

Recently, regulators and governmental agencies have considered corporate governance and information disclosure as two integral key instruments to protect the investor interests. Managers disclose information to create a better picture of economic condition of their entities and absorb more investments, specifically institutional investments. In this study the effects of information disclosure on corporate governance quality and the composition of institutional owners are examined. The information of 75 listed entities in 17 industries has been examined during 2005-2012. The statistical analysis using regression shows that as much as the level of information disclosure increases, the quality of corporate governance enhances and the institutional investments increase.

Investors and managers are seeking of stock selection in investment of stocks firms that have optimize of profitability and they use of accounting information as a source of information in selecting of purchase and sale of own shares. If accounting information reported by entities, have quality, it can be affected in decision of investors. Therefore, in this research, we study the effect of accounting information quality on reflecting of information timeliness in stock price. So, to test the hypothesis, 71companies listed in Tehran Stock Exchange in the period 2002 to 2011 was chosen with using the systematic elimination method. Also, we utilized multiple- variables regression and pooling- data to analysis of data. Based on research of Andrew (2011), in this research, we used accruals quality and earnings smoothing to measuring of accounting information quality. Results indicate that there is a positive and significant relationship between accrual quality and earnings smoothing with Reflecting of information timeliness on stock price, but whatever, accounting information quality is higher, this information affects stock prices more quickly. Also, findings indicate that there is a positive (negative) relationship between firm size (corporate governance) and Reflecting of information timeliness on stock price, respectively.

The main purpose of formulating and implementing of the corporate governance principles is to create confidence among financial market activists and to encourage the managers to take steps in the interest of the corporate rather than pursuing their personal interests. So it can be expected that formulating and implementing the mentioned principles would increase the confidence of the owners and other interest groups and ultimately reduces the agencies and supervising costs. The more coordinated and favorable the ownership and management structures,it lead to create value to the company in several ways in which the most important one is the reduction of the conflict of interest between the managers and the owners, and improving these measures would reduce the agencies costs. This research has been done in order to determine the direction and the amount of the influence of each of managerial and ownership structures of corporate governance over the agency costs. The research method is cause - effect and it is applicable objectively according to the function of the results in the capital market. The test method is multi-variables regression by useing panel data and the mean comparison test has been used to investigate the variable of the separation of CEO post from the chairman of the board’s. In total, the results obtained from analysis of data from 124 companies listed in Tehran Stock Exchange during 2006-2013 indicate that the separation of the CEO from chairman of the board has the opposite effect on agency costs. The percentage of free float stocks affects the agency costs directly. Board independence, board size, government ownership, board ownership and institutional ownership have no impact on agency cost. The company's size and financial leverage are the controlled variables of the research.