Assessment the Impact of Inefficient Investment Decisions on the Relationship between Conservatism and New Investment

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HASSANI MOHAMMAD; Asadian fili Saeid

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Journal: INVESTMENT KNOWLEDGE Year:2021 | Volume:9 | Issue:36 Page(s): 61-82

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Information Journal Paper

Title

Assessment the Impact of Inefficient Investment Decisions on the Relationship between Conservatism and New Investment

Author(s)

HASSANI MOHAMMAD | Asadian fili Saeid | Issue Writer Certificate

Keywords

ConservatismQ1

investmentQ1

Investment InefficiencyQ1

Over InvestmentQ1

Abstract

The purpose of this research is investigation the relationship between Conservatism and new investment; In addition, this research assessed the impact of Investment Inefficiency on the relationship between Conservatism and new investment. Conservatism is measured based on the pattern presented by Givoly and Hayn (2000). Also, Over Investment is considered as a proxy of Investment Inefficiency which is measured based on the model proposed by Biddle et al (2009). So, research population includes 216 firms listed in Tehran Securities & Exchange over the period 2012-2017 which selected through filtering method. The hypotheses analyzed through multivariable regression models based on panel data and fixed effect method. The results showed that Conservatism had significant and negative impact on new investment. Also, Over Investment as a proxy of Investment Inefficiency had significant and positive impact on new investment. However, Conservatism had no significant impact on the relationship between prior Over Investment and new investment.

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APA: Copy

HASSANI, MOHAMMAD, & Asadian fili, Saeid. (2021). Assessment the Impact of Inefficient Investment Decisions on the Relationship between Conservatism and New Investment. INVESTMENT KNOWLEDGE, 9(36 ), 61-82. SID. https://sid.ir/paper/405423/en

Vancouver: Copy

HASSANI MOHAMMAD, Asadian fili Saeid. Assessment the Impact of Inefficient Investment Decisions on the Relationship between Conservatism and New Investment. INVESTMENT KNOWLEDGE[Internet]. 2021;9(36 ):61-82. Available from: https://sid.ir/paper/405423/en

IEEE: Copy

MOHAMMAD HASSANI, and Saeid Asadian fili, “Assessment the Impact of Inefficient Investment Decisions on the Relationship between Conservatism and New Investment,” INVESTMENT KNOWLEDGE, vol. 9, no. 36 , pp. 61–82, 2021, [Online]. Available: https://sid.ir/paper/405423/en

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