The Financial Accounting and Auditing Researches
Year:2012 | Volume:3 | Issue:12|Papers Count:8

As one of the strategies adopted in managing companies, the dividend decisions are influenced by corporate governance. Therefore, the present research aims at investigating into the effect of corporate governance such as ownership structure and the board composition on dividend policies adopted in companies accepted in Tehran Stock Exchange.The sample consists of 106 companies during 2004 to 2008. The statistical results achieved through testing the research hypothesis using regression model of panel data show that variable of ownership concentration has a negative meaningful relationship with dividend payout ratio. Also, the percentage of the outside directors on the board has a positive meaningful relationship with dividend payout ratio. Moreover, no meaningful relationship was found between percentage of institutional ownership, percentage of management ownership, family ownership, independence of the board of directors and dividend payout ratio.

The interest in accounting disclosure and audit quality by academics, investors and regulators heightened following the various financial reporting scandals, and subsequent legislative and professional response to these scandals. Thus, this study aims to investigate the effect of increasing accounting disclosure resulted from the implementation of revised auditing standards on the information asymmetry.Therefore, 71 firms of statistical society (Tehran Stock Exchange) that whose necessary information for seven- year period was available, were selected. Information asymmetry was measured by bid-ask spread. To examine the hypotheses, compound regression technique with panel data was used. Signification of models was examined by T and F statistics. The results of this study showed that revised auditing standards had no effect on information asymmetry.

The aim of this study is to assess the errors which would occur in the prediction of absolute earnings in the increasing capital reporting. To achieve mentioned objective, we have examined some information as performance evaluation measures including assets, debits, sales, financial leverage ratio, internal rate of returns and the errors which would occur in the prediction of absolute earnings in the increasing capital reporting from 1386 to 1388.The correlation analysis with linear regression and test variance analysis have been used as the statistical method and the gathered data has been analyzed via the SPSS software. On top pf that, rationality of the regression equation and its coefficients were investigated respectively with F and T tests.The results reveal a significant relation between the errors which would occur in the prediction of absolute earnings in the increasing capital reporting and financial position of the companies, internal rate of returns, the industry type, the reports type (financing for working capital or financing for development plans). In addition the errors which would occur in the prediction of absolute earnings was found independent to financial leverage rate, when the companies get into the Stock Exchange and size of the companies.

The conflict of interest between issuers of financial statements and the users of financial statements have been the subject of significant debate for using different methods of accounting accepted principles and implementing earning as an important criterion for decision making process. Thus, this controversial results, made us to contribute to this debate by investigating the relationship between earnings quality attributes and performance of Iranian public listed firms in Tehran stock exchange. We examined sample of 63 firms that randomly selected in the period from 2002 to 2009. We derived a summary measure of earnings quality by applying factor analysis on two variables representing different components of two primary dimensions of earnings quality: Feedback value (FV) and Predictive Value (PV). Also two common financial performance measures namely Returns on Assets (ROA) and Tobin’s Q were examined. We then provide empirical evidence to address the question, whether earnings quality of Iranian listed firms is associated with their performance or not. Based on using pool regression, we interpret our results that, the feedback value of earnings has both positive and significant association with firm performance measures. On the other hand, predictive value has both negative and significant association with returns on assets and has not significant association with Tobin’s Q. further, the current study provide novel evidence towards the understanding of more powerful association between feedback value with firm performance measures than predictive value. Specifically in this survey, we controlled the influence of essential firm characteristics namely size, leverage, and growth on firm performance.

The main objective of this research is the investigation of earning management effect on intangible value of entity using Tobin’s Q in accepted companies in Tehran Stock Exchange for time period of 2003 to 2007. For income smoothing measurement, in this research we employed Eckel model (1981) in three levels of gross income, net income and operating income. In the research 60 companies using systematic random sampling selected and to test hypotheses we used from Pearson Correlation and T independent test. Research findings indicate no significant relationship between income smoothing and intangible value using Tobin’s Q. in other words, the companies cannot produce any intangible value by income smoothing and earning management. On the other hand, the results show there is no significant difference between two groups of companies with income smoothing and no income smoothing in intangible value.

The present paper studies the linear and non-linear relation between accounting variables and stock return of automobile industry accepted companies in Tehran exchange during 1382 to 1387.The studied accounting variables include: operation income, net income and operation cash flow. The stock return has been calculated for the five-old year average period beginning 1 of farvardin until 29 of esfand for each year. The regression analysis technique has been used for testing the relationship between variables and degree of significance of our predicted regression models. Also the significance of the regression models was tested according to t-test and F-test.The result of our investigation narrated that there is a linear and nonlinear relationship between accounting variables and stock return of the automobile industry companies. However some of this regression models have more explanatory power than other models. In other word, some of this regression models such as power and cubic non-linear models have the best explanatory power. Also, the zero-distance models (a=0) have more explanatory power than non-zero distance models (a¹0).

This Study investigates the Relationship between corporate governance and earning quality the listed companies in Tehran stock exchange, over the period of 2002 through 2008. In this study following Gov-Score developed by Brown and Caylor (2006), the corporate governance has investigated by using features of dual responsibility of CEO, board of directors independent, board of directors size, board of directors ownership, institutional investors ownership, auditor size, auditor tenure, CEO tenure and law merchant compliance. To determinate of earning quality based on modified Jones (1991) model, used from absolute value of discretionary accruals. For test of hypothesis are used the variance analyse (ANOVA) and multiple linear regression and measurement method of Cross-sectional. We find evidence that there is no significant relationship between all of the features of corporate governance used in this study and earning quality. Also, there is no significant Difference between earning quality of companies with strong, medium and weak corporate governance.

The object of this research is study of the changes trend in debt to equity ratio and weight average cost of capital (WACC), and also to investigate the relationship between capital structure and WACC. According to the second theory of Miller and Modigiliani (1963), there is a meaningful and linear relation between capital structure and WACC; so that through increase in debts, the cost of capital will be decreased. This research has investigated the information collected via Rahavard Novin software, for 38 samples of the firms that listed in the Tehran Stock Exchange during 1379 to 1388. for hypothesis testing used of the ANOVA test and Pearson correlation coefficient. The results show that change in debt to equity ratio, doesn’t have increasing trend and also the changing process of WACC doesn’t have a decreasing trend. The other results indicate there is not a meaningful relation between capital structure and WACC.