پیشرفتهای حسابداری2008-998812220201221Cosmetic Earnings (Losses) and Debt Management with Emphasis on Corporate Governance Roleآراستگی منفعت طلبانه ارقام سود (زیان) و بدهی با تاکید بر نقش نظام راهبری شرکتی126592110.22099/jaa.2020.35676.1959FAحمیده اثنی عشریاستادیار گروه حسابداری، دانشکده مدیریت و حسابداری، دانشگاه شهید بهشتی،تهران، ایران0000-0003-3648-8899محمدحسین صفرزادهاستادیار گروه حسابداری، دانشکده مدیریت و حسابداری، دانشگاه شهید بهشتی،تهران، ایران0000-0003-0767-5193حسین رضایی نماورکارشناس ارشد حسابرسی، دانشکده مدیریت و حسابداری، دانشگاه شهید بهشتی،تهران، ایران0000-0002-0781-9401Journal Article20191221<strong>Journal of Accounting Advances, (2020) 12(1): 1-27</strong>
DOI: 10.22099/JAA.2020.35676.1959
<strong>Journal of Accounting Advances (JAA)</strong>
Journal homepage: www.jaa.shirazu.ac.ir/?lang=en
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<strong>Cosmetic Earnings (Losses) and debt Management with Emphasis on Corporate Governance Role</strong>
Hamideh Asnaashari<sup>1</sup>, Mohammad Hossein Safarzadeh<sup>2</sup>,
Hossein Rezaei Namavar<sup>3</sup>
Assistant Professor of Accounting, Shahid Beheshti University, Tehran, Iran.
Assistant Professor of Accounting, Shahid Beheshti University, Tehran, Iran, hosein470@gmail.com
M.A. of Accounting, Shahid Beheshti University, Tehran, Iran.
<strong>ARTICLE INF</strong>
<strong>ABSTRACT</strong>
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Received: 2020-10-10
Accepted: 2020-11-18
This study examines the Cosmetic earnings and debt management and the effect of Corporate Governance on them. Our approach to investigate the cosmetic earnings upward and debts downward is based on “Benford's Law”. To evaluate Corporate governance we used 4 variables: percentage of non-Executive managers, percentage of institutional shareholders, concentration of ownership, auditor type and an aggregate index. With regard to this, we tested the data gathered from 145 firms listed in Tehran’s Stock Exchange (TSE) from 2009 to 2009. Normal Z test, Chi-squared distribution and Cramer V test are used to examine and compare actual distribution numbers of earnings (loss) and debts with expected distribution (Benford's). Results show that managers manipulate the second digits of earnings upward. Nonetheless, this is not the case of losses and debts. Furthermore, the findings show that corporate governance does not diminish the managers’ opportunity in manipulating the digits of earnings (losses) and debts.
* Corresponding author:
Mohammad Hossein Safarzadeh
Assistant Professor of Accounting, Shahid Beheshti University, Tehran, Iran
Email: hosein470@gmail.com
<strong>1- Introduction</strong>
Earnings management is an essential issue in accounting and auditing for financial researchers, auditors and analyzers. The phenomenon of cosmetic earnings (loss) and debt management is considered as a kind of deception and important fraudulent activity done by the managers to draw the shareholders’ attention to the initial figures of earnings (loss) and debt. Cosmetic earnings and debt management provides a relatively more suitable perspective for the users than the time when it does not happen. This type of earnings management will mislead the users in their decisions and encourages the fraudulent thinking in the company. Previous studies showed that legal protections including corporate governance may reduce the managers’ desire for arranging the financial statements, considerably.
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<strong>2- Research Purpose</strong>
The goal of this study is surveying the Cosmetic earnings and debt management and the effect of Corporate Governance on them.
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<strong>3- Methods and Results</strong>
To measure the cosmetic upward earnings and downward loss and debt management, Benford’s Law has been applied. The corporate governance system was also measured using a cumulative index and making use of board independence criteria, institutional shareholders, concentration of ownership and the type of auditor. The data were gathered from 145 firms listed on Tehran’s Stock Exchange (TSE) between 2009 and 2019. To examine and compare the actual distribution of profit (loss) and debt statement with the expected Benford’s distribution, the standard Z-test, Chi-square distribution and Cramér’s V-test were utilized. The results indicated that managers arrange the earnings figures significantly upward in order to benefit from the users’ psychological responses; while such a rule is not true about the loss and debt figures and they are not arranged by the managers. Furthermore, the findings of the study show that the company’s corporate governance will not decrease the managers’ power in arranging the earnings (loss) and debt.
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این پژوهش، به بررسی آراستگی منفعت طلبانه ارقام سود و بدهی و اثر نظام راهبری شرکتی بر روی آن میپردازد. بهمنظور سنجش آراستگی روبه بالای سود و روبه پایین زیان و بدهی از شیوهای به نام قاعده بنفورد (1938) استفادهشده است. نظام راهبری شرکتی نیز با استفاده از یک شاخص تجمیعی با استفاده از معیارهای استقلال هیئتمدیره، سهامداران نهادی، تمرکز مالکیت و نوع حسابرس سنجیده شد. در این راستا دادههای 155 شرکت پذیرفتهشده در بورس اوراق بهادار تهران برای دوره 1387 الی 1397 آزمون شده است. برای بررسی و مقایسه توزیع واقعی اعداد سود (زیان) و بدهی با توزیع مورد انتظار(بنفورد)، از روش آزمون Z استاندارد، توزیع کای مربع و همچنین آزمون وی کرامر، استفاده شد. نتایج نشان داد مدیران ارقام سود را برای بهرهمندی از واکنشهای روانی استفادهکنندگان، بهصورت معناداری به سمت بالا میآرایند؛ این در حالیست که چنین قاعدهای در خصوص ارقام زیان و بدهی برقرار نیست و این ارقام از سوی مدیران آراسته نمی شوند. بعلاوه، نتایج پژوهش حاکی از آن است که نظام راهبری شرکت توان مدیران را در آراستگی مبالغ سود (زیان) و بدهی کاهش نمی دهد.https://jaa.shirazu.ac.ir/article_5921_6aa7c493aaba8ed5fa267a7563560f1c.pdfپیشرفتهای حسابداری2008-998812220201221The study of Institutional Pressures Effects on Accountants' Intentions of Accounting Information System Adoption: Empirical Evidence of Unified Theory of Acceptance and Use of Technologyتاثیر فشارهای نهادی بر نیت حسابداران از پذیرش سیستمهای اطلاعاتی حسابداری: استنادی تجربی از مدل یکپارچه پذیرش و به کارگیری فناوری2763607310.22099/jaa.2021.39300.2079FAمصطفی اعتمادی جوریابیدانشجوی دکتری حسابداری، واحد رشت ،دانشگاه آزاد اسلامی ،رشت،ایران0000-0002-8351-1708سینا خردیاراستادیار گروه حسابداری، واحد رشت، دانشگاه آزاد اسلامی، رشت، ایران(نویسنده مسئول)کیهان آزادی هیراستادیارگروه حسابداری، واحد رشت، دانشگاه آزاد اسلامی، رشت، ایران.Journal Article20201223<strong>Journal of Accounting Advances, (2020) 12(1):</strong><br />DOI: 10.22099/JAA.2021.39300.2079<br /> <br /> <br /> <br /> <br /> <br /><strong>Journal of Accounting Advances (JAA)</strong><br />Journal homepage: www.jaa.shirazu.ac.ir/?lang=en<br /> <br /> <br /> <br /> <br /> <br /><strong> </strong><br /><strong>The study of Institutional Pressures Effects on Accountants' Intentions of Accounting Information System Adoption: Empirical Evidence of Unified Theory of Acceptance and Use of</strong><strong> Technology</strong><br />Mostafa Etemady Jooriaby<sup>1</sup>, Sina Kheradyar<sup>2*</sup>, Keihan Azadi Hir<sup>3</sup><br /><strong> </strong><br /> <br />Ph.D. Student of Accounting, Faculty of Accounting and Management, Rasht Branch, Islamic Azad University, Rasht, Iran. Mostafa.etemady@gmail.com<br />Assistant Prof., Faculty of Accounting and Management, Rasht Branch, Islamic Azad University, Rasht, Iran. sinakheradyar@gmail.com<br />Assistant Prof., Faculty of Accounting and Management, Rasht Branch, Islamic Azad University, Rasht, Iran. ka.cpa2012@yahoo.com<br /> <br /> <br /> <br /> <br /> <br /> <br /><strong>ARTICLE INF</strong><br /> <br /> <br /><strong>ABSTRACT</strong><br /> <br /> <br /> <br /> <br /><strong> </strong><br />Received: 2020-05-30<br />Accepted: 2021-03-21<br /> <br /> <br /> <br />The goal of this research is to study the institutional pressures and UTAUT constructs effects on accountants' intentions of accounting information system adoption. To achieve this goal Unified Theory of Acceptance and Use of Technology model (Venkatesh et. al, 2003) and Institutional theory (DiMaggio & Powell, 1983) have been utilized. Data is gathered by distributed questionnaires among listed companies of Tehran Stock Exchange accountants during a period of 15 months (July 2019 to October 2020) and the analysis is utilized by Spearmans' correlation coefficient. Results show that UTAUT model constructs and all kinds of institutional pressures have positive significant effects on accounting information system adoption. Results of combined model show that performance expectancy is the most effective construct (0/866) and effort expectancy (0114) is the least. Moreover, using Mann-Whitney and Kruskal-Wallis tests, respondents' characteristics analysis holds that although there is no significant difference among accountants' experience, significant differences have been seen in the gender and age of them.<br /> <br /> <br /> <br /> <br /> <br />* Corresponding author:<br /> <br />Sina Kheradyar<br /> <br />Assistant Prof., Faculty of Accounting and Management, Rasht Branch, Islamic Azad University, Rasht, Iran.<br />Email: sinakheradyar@gmail.com<br /> <br /> <br /> <br /> <br /> <br /><strong>1- Introduction</strong><br />Computerized accounting information system as one of the technologies, is a set of software applicable on computers and is utilized for all of accountants' duties including recording, sorting, retrieving, storing, declaring, presenting and transferring accounting information to stakeholders. Nowadays, businesses and other organizations have tendency to adopt and implement accounting information systems; because AIS adoption has benefits such as performance improvement of accounting department and pace increase of processing which results in firms' better cost control and external financial reporting.<br />Individuals need recognition and adoption is the first step of every business and an understanding of this issue is useful to future development. So that, researchers like to recognize factors of users' adoption accepting or rejecting. Professionals and researchers permanent question is "why do individuals accept new technologies?". The answer to this this question might help them to better design, evaluate and anticipate methods of users toward new technologies. However, AIS successful implementation depends on accountants' and managers' full adoption. Thus, organizations need to explore the way through which accountants and managers adopt AIS, instead of concentrating on decision makers' adoption. Some researchers suggest that integrating extracted factors of different approaches would provide comprehensive understanding of potential factors effect on IT. Besides, better understanding of managers' and accountants' behavioral intentions toward AIS adoption is needed through individual, technological, organizational and institutional factors, however, there is not any definite consensus for them. On the other hand, introduction of new accounting technologies might be affected by institutional players (i.e. managers and accountants) and institutional influence would affect on how AIS is selected or adopted. Two theories which have the most justifiable behavioral reasoning on information systems/technologies adoption have been utilized in this study (Unified theory of acceptance and use of technology model (Venkatesh et. al., 2003) and Institutional theory (DiMaggio & Powell, 1983)). So, this research intends to study factors effect on accountants' AIS adoption considering individual, technological, organizational and institutional aspects using the mentioned model and the theory. Having access to comprehensive understanding of accountants' behavioral intentions' factors toward accounting information system adoption is the prerequisite for risk reduction of non-adoption of AIS by any organization.<br /><strong> </strong><br /><strong>2- Research Questions or hypothesis</strong><br />According to the research literature and previous studies research hypotheses are developed as follows:<br />H<sub>1</sub>: There is a significant relation between Performance Expectancy and listed companies of Tehran Stock Exchange accountants' behavioral intentions.<br />H<sub>2</sub>: There is a significant relation between Effort Expectancy and listed companies of Tehran Stock Exchange accountants' behavioral intentions.<br />H<sub>3</sub>: There is a significant relation between Facilitating Conditions and listed companies of Tehran Stock Exchange accountants' behavioral intentions.<br />H<sub>4</sub>: There is a significant relation between Social Influence and listed companies of Tehran Stock Exchange accountants' behavioral intentions.<br />H<sub>5</sub>: There is a significant relation between Coercive Pressure and listed companies of Tehran Stock Exchange accountants' behavioral intentions.<br />H<sub>6</sub>: There is a significant relation between Mimetic Pressure and listed companies of Tehran Stock Exchange accountants' behavioral intentions.<br />H<sub>6</sub>: There is a significant relation between Normative Pressure and listed companies of Tehran Stock Exchange accountants' behavioral intentions.<br /> <br /><strong>3- Methods</strong><br />The research methodology is categorized as quantitative. The analyzing method is utilized by Spearman’s correlation coefficient. Data is gathered by standard questionnaires. Venkatesh et. al. (2003) 19-items questionnaire, DiMaggio & Powell (1983) 19-items questionnaire were used for UTAUT and institutional pressures evaluating, respectively. The questionnaires were distributed among Tehran Stock Exchange listed companies' accountants based on convenience sampling. According to statistical society characteristics the sample size was determined by unlimited society sampling formula as 384. 424 questionnaires were distributed. 337 questionnaires were returned during 15 months, 311 of them were properly answered. Moreover, using Mann-Whitney and Kruskal-Wallis tests, respondents' characteristics were tested.<br /> <br /><strong>4- Results</strong><br />Results show that all of UTAUT constructs have significant positive effect on accounting information system adoption. Besides, all kinds of institutional pressures have significant effect on accounting information system adoption, too. Results of combined model show that performance expectancy is the most effective construct (0/866) and effort expectancy (0114) is the least. Also, Mann-Whitney and Kruskal-Wallis tests respondents' characteristics analysis hold that although there is no significant difference among accountants' experience, significant differences have been seen with regard to gender and age of them.<br /> <br /><strong>5- Discussion and Conclusion</strong><br />Accounting information system can be defined as a processing system of data and economic transactions to provide users information of making decision. The goal of this study was to investigate UTAUT constructs and institutional pressures effects on accountants' AIS adoption. The results provide a basis of understanding toward this context which is not well explored in Iran, comprehensively. Moreover, increasing development of businesses and technology uses’ influence in success sustainability clarify the needs which could be tracked in individual behavior toward AIS adoption. However, according to the research results, this is provided that a vast approach which includes individual, technological, organizational and institutional factors must have been considered in accounting information system adoption reasons exploring. Based on the enhanced results of this research, it is suggested that accounting software developers and vendors should consider accountants' perceived easiness of use in their designing. Moreover, the compatibility should be enhanced between accountants' needs and AIS interface. It is also suggested that in order not to just prioritize individual modeling of successful accountants, efficient criteria of accountants' performance assessment should be developed to provide stakeholders' benefits.<br /> <br /> <br /><strong> </strong>هدف از این پژوهش بررسی تاثیر فشارهای نهادی و مدل یکپارچه پذیرش و به کارگیری فناوری در پذیرش سیستمهای اطلاعاتی حسابداری است. اطلاعات با استفاده از پرسشنامه توزیع شده میان حسابداران شرکتهای پذیرفته شده در بورس اوراق بهادار تهران طی مرداد 1398 تا آبان ماه 1399 جمعآوری و با استفاده "همبستگی پیرسون" تحلیل گردید. نتایح پژوهش نشان میدهد تمامی سازههای مدل پذیرش و به کارگیری فناوری (انتظار عملکرد، انتظار تلاش، تاثیر اجتماعی و شرایط تسهیل کننده) و فشارهای نهادی با پذیرش سیستمهای اطلاعاتی حسابداری رابطه مستقیم و مثبت دارد. بر اساس نتایج حاصله تاثیرگذارترین متغیر در این مدل ترکیبی، انتظار عملکرد (866/0) دارای بیشترین تاثیر و متغیر انتظار تلاش (114/0) دارای کمترین تاثیرگذاری بود. همچنین، تحلیل خصوصیات پاسخدهندگان بر اساس آزمونهای "من ویتنی" و "کروسکال والیس" نشان دادند که تفاوت معنیداری میان تجربه حسابداران در نیت پذیرش سیستم اطلاعاتی حسابداری وجود ندارد ولی تحلیل مولفههای جنسیت و سن در خصوص نیت پذیرش حسابداران حاکی از تفاوت معنیدار میان گروه زنان و مردان و همچنین سنین پاسخ دهندگان بود.https://jaa.shirazu.ac.ir/article_6073_371af6755eb15b2110833b7384e41857.pdfپیشرفتهای حسابداری2008-998812220201221Developing Fama and French Multi-Factor Pricing Model Using a Fundamental Factor Based on Accounting Characteristicsتوسعه مدلهای عاملی قیمتگذاری فاما و فرنچ با استفاده از عامل بنیادی مبتنی بر ویژگیهای حسابداری65102606910.22099/jaa.2021.39285.2077FAساناز اعلمی فردانشجوی دکتری گروه حسابداری،دانشکده علوم اداری و اقتصاد دانشگاه اصفهان،ایرانعبدالله خانیدانشیار گروه حسابداری دانشکده علوم اداری و اقتصاد دانشگاه اصفهانهادی امیریاستادیار گروه اقتصاد،دانشکده علوم اداری و اقتصاد دانشگاه اصفهان،ایران، اصفهانJournal Article20201221<strong>Journal of Accounting Advances, (2020) 12(1):</strong><br />DOI: 10.22099/JAA.2021.39285.2077<br /> <br /> <br /> <br /> <br /> <br /><strong>Journal of Accounting Advances (JAA)</strong><br />Journal homepage: www.jaa.shirazu.ac.ir/?lang=en<br /> <br /> <br /> <br /> <br /> <br /><strong> </strong><br /><strong>Developing Fama and French Multi-Factor Pricing Model Using a Fundamental Factor Based on Accounting Characteristics</strong><br />Sanaz Aalamifar<sup>1</sup>, Abdollah Khani<sup>2*</sup>, Hadi Amir<sup>3</sup><br /><strong> </strong><br /> <br />1. Ph.D. Candidate, Department of Accounting, Faculty of Administrative Science and Economics, University of Isfahan, Iran. sanazaalamifar@ase.ui.ac.ir<br />Corresponding author, Associate Prof., Department of Accounting, Faculty of Administrative Science and Economics, University of Isfahan, Isfahan, Iran. a.khani@ase.ui.ac.ir<br />Assistant Prof., Department of Economic, Faculty of Administrative Science and Economics, University of Isfahan, Isfahan, Iran. h.amiri@ase.ui.ac.ir<br /> <br /> <br /> <br /> <br /> <br /> <br /><strong>ARTICLE INF</strong><br /> <br /> <br /><strong>ABSTRACT</strong><br /> <br /> <br /> <br /> <br /><strong> </strong><br />Received: 2020-12-21<br />Accepted: 2021-04-03<br /> <br /> <br /> <br />The purpose of the present research is to introduce a fundamental factor, based on related accounting characteristics (including earnings to price, book to price, sales growth rate, accruals, investment and growth in net operating assets), as a factor in the structure of Fama and French asset pricing model. The mentioned factor has been deducted from consumption theory and accounting principles and assumptions. In order to test the hypotheses, data of 345 companies listed in the Tehran Stock Exchange (TSE) and Iran Farabourse market, during the period 2006 to 2020, were used. To evaluate the performance of the multi-factor asset pricing model, test assets were ranked in two categories (once considering expected return characteristic, and once without considering the company’s expected return<strong> </strong>characteristic). In the following, using time series regression approach, the performance of augmented multifactor asset pricing models and corresponding conventional ones are compared. The results of this research showed that development of the research models with the fundamental factor based on mentioned accounting characteristics, can lead to improving the performance of these multi-factor models in explaining the variation in (expected) stock returns, and the test assets that considered the company’s expected return performed better compared to those that did not. The findings of this study indicate that the information in the financial statements has information content and can play an undeniable role in determining the expected return.<br /> <br /> <br /> <br /> <br /> <br /> <br />* Corresponding author:<br /> <br />Abdollah Khani<br /><span style="vertical-align: super;"> </span><br />Associate Prof., Department of Accounting, Faculty of Administrative Science and Economics, University of Isfahan, Isfahan, Iran.<br /> <br /> E-mail: a.khani@ase.ui.ac.ir<br /> <br /> <br /> <br /> <br /> <br /> <br /><strong>1-Introduction</strong><br />Identifying the correct asset pricing model has long been an important topic in the thematic literature of financial economics. Such a model not only explains stock returns, but also increases the ability to predict abnormal returns. The first models for estimating returns date back to the 1960s, when Markowitz’s (1952) new theory of securities attracted the attention of researchers. The first model for estimating returns was the capital asset pricing model (CAPM) which was presented by William Sharp (1964). In his research, William Sharp showed that return on asset was a function of line of market risk premium. But from 1975 to 1990, deviations and anomalies related to the CAPM model gradually became apparent. Following the recognition of these anomalies in accounting, in this study, based on the research of Penman and Zhou (2018), a fundamental factor based on accounting characteristics is introduced. For this purpose, consumption theory and accounting principles and assumptions will be used for initial identification; and empirical tests will be used for final identification of accounting characteristics that affect earnings growth and expected returns. Then these identified characteristics are summarized in a factor called the fundamental factor. Therefore, the purpose of this study is to evaluate the possibility of improving the performance of the asset pricing factor models in explaining the stock returns by adding a fundamental factor based on accounting characteristics. The hypothesis, methods, result and discussion and conclusion have been explained below.<br /> <br /><strong>2-Hypothesis</strong><br />The aim of this research is to introduce a fundamental factor based on accounting characteristics as a factor in the structure of the Fama and French asset pricing models. For this purpose, data of 345 companies, listed in the Tehran Stock Exchange, during the period 2006 to 2020 have been used. In order to achieve the objectives of this research, the following hypothesis are developed:<br />H1: Adding a fundamental factor, based on accounting characteristics, to Fama and French three-factor model, improves its performance in explaining the stock returns.<br />H2: Adding a fundamental factor, based on accounting characteristics, to Carhart four-factor model, improves its performance in explaining the stock returns.<br />H3: Adding a fundamental factor, based on accounting characteristic, to Fama and French five-factor model, improves its performance in explaining the stock returns.<br />H4: Adding a fundamental factor, based on accounting characteristics, to Fama and French six-factor model, improves its performance in explaining stock returns.<br /><strong> </strong><br /><strong>3- Methods</strong><br />This is an applied research in terms of purpose and an inferential and descriptive research, in terms of method. For data analysis and hypothesis testing, the data have been collected from 345 companies listed in the Tehran Stock Exchange for a period of 15 years (2006 to 2020). For initial calculations, the Excel and Ox Metrics software tools, and for the final analysis, Eviews and State software tools were used.<br /> <br /><strong>4- Results</strong><br />The results of this research showed that a research model with fundamental factor, based on accounting characteristics, has a better performance in explaining the stock returns compared to the corresponding multifactor pricing models; and the tests that considered the company’s expected return, performed better compared to those that did not.<br /><strong> </strong><br /><strong>5- Discussion and Conclusion</strong><br /> Findings of this research indicate that adding a fundamental factor based on accounting characteristics to Fama and French three-factor, Carhart four-factor, Fama and French five-factor, and<strong> </strong>Fame and French six-factor models, improves their performance in explaining the stock returns. In other words, developing a model with a fundamental factor, based on accounting characteristics, can lead to an improvement in the asset’s pricing model. This is a result of all the efforts that have been made since the time of Sharpe (1964). In addition, the research findings show that despite the research and efforts that have been made in the field of assets’ pricing, it is still possible to further develop this model from other angles in the financial field.<br /> <br /> <br /> هدف این پژوهش، معرفی عامل بنیادی مبتنی بر ویژگی های حسابداری، شامل نسبت سود به قیمت، نسبت ارزش دفتری به ارزش بازار، نرخ رشد فروش، اقلام تعهدی، سرمایه گذاری و رشد خالص دارایی های عملیاتی، به عنوان یک عامل در مدل های چند عاملی قیمت گذاری فاما و فرنچ است که مستخرج از نظریه مصرف و اصول و مفروضات حسابداری می باشد. به منظور آزمون فرضیه ها از اطلاعات 345 شرکت پذیرفته شده در بورس اوراق بهادار تهران و فرابورس ایران طی بازه 1385-1398 استفاده شده است. برای ارزیابی عملکرد مدل های چند عاملی قیمت گذاری دارایی ها، دارایی های آزمون در دو دسته، با لحاظ کردن ویژگی بازده مورد انتظار شرکت و بدون لحاظ کردن ویژگی بازده مورد انتظار شرکت، طبقهبندی شده اند. در ادامه به کمک رویکرد رگرسیون های سری زمانی، عملکرد مدل های بسط یافته با عامل بنیادی مبتنی بر ویژگی های حسابداری مذکور و مدل های متداول در توضیح بازده سهام مقایسه شده اند. نتایج این پژوهش نشان می دهد که بسط مدل های مورد بررسی پژوهش با عامل بنیادی مبتنی بر ویژگی های حسابداری موجب می شود تا عملکرد این مدل ها در توضیح الگوهای مختلف بازده سهام بهبود یابد که این تفاوت عملکرد از لحاظ قدرت توضیح دهندگی برای دارایی های آزمونی که با استفاده از بازده مورد انتظار تشکیل شده، مطلوب تر می باشد. یافته های این پژوهش بیانگر این مهم است که اطلاعات صورت های مالی دارای محتوای اطلاعاتی بوده و در تعیین بازده مورد انتظار می تواند نقش انکارناپذیری داشته باشند.https://jaa.shirazu.ac.ir/article_6069_e155db07a65963c440e39cc7f488c101.pdfپیشرفتهای حسابداری2008-998812220201221Employees Skill and Sticky Wagesمهارت کارکنان و چسبندگی هزینههای حقوق و دستمزد103132629610.22099/jaa.2021.40315.2123FAعباس پارسافرکارشناس ارشد حسابداری مدیریت،دانشکده علوم اداری و اقتصادی، دانشگاه فردوسی مشهد،مشهد،ایرانرضا حصارزادهدانشیار گروه حسابداری،دانشکده علوم اداری و اقتصادی،گروه حسابداری، دانشگاه فردوسی مشهد،مشهد،ایران0000-0002-5118-022Xبهزاد کارداناستادیار گروه حسابداری، دانشکده علوم اداری و اقتصادی،دانشگاه فردوسی مشهد،مشهد،ایرانJournal Article20210411<strong>Journal of Accounting Advances, (2020) 12(1): 1-27</strong><br />DOI: 10.22099/JAA.2021.40315.2123<br /> <br /> <br /> <br /> <br /> <br /><strong>Journal of Accounting Advances (JAA)</strong><br />Journal homepage: www.jaa.shirazu.ac.ir/?lang=en<br /> <br /> <br /> <br /> <br /> <br /><strong> </strong><br /><strong> </strong><br /><strong>Employees Skill and Sticky Wages</strong><br />Abbas Parsafar<sup>1</sup>, Reza Hesarzadeh<sup>2*</sup>, Behzad Kardan<sup>3</sup><br /> <br />1- MSc. of Management Accounting, Ferdowsi University of Mashhad, Mashhad, Iran, Abbas.parsafar@mail.um.ac.ir<br />2- Associate Professor of Accounting, Ferdowsi University of Mashhad, Mashhad, Iran, Hesarzadeh@um.ac.ir<br />3- Assistant professor of Accounting, Ferdowsi University of Mashhad, Mashhad, Iran, Kardan@um.ac.ir<br /> <br /> <br /> <br /> <br /> <br /> <br /><strong>ARTICLE INF</strong><br /> <br /> <br /><strong>ABSTRACT</strong><br /> <br /> <br /> <br /> <br /><strong> </strong><br />Received: 2021-04-11<br />Accepted: 2021-08-23<br /> <br /> <br /> <br />The issue of asymmetric cost behavior has attracted much attention in management accounting literature. According to the economic theory of sticky costs, sources adjustment costs, especially employees adjustment costs, is one of the main reasons for this asymmetry. Previous studies attempting to empirically examine this theory face limitations. Therefore, this study takes a new look at this theory by using Employees Skills index for Employees adjustment costs. Theoretically, higher levels of employees’ skills are argument to increase wages stickiness. To prove this statement, the companies listed on the Tehran Stock Exchange during the years 1391 to 1398 were examined. The results show that the level of employees skills has a positive effect on the stickiness of wages, which is consistent with the hypothesis of the research. Also, the results show that wages costs in highly skilled firms have sticky behavior, and in low skill firms, employees have no stickiness. Additional analyzes and sensitivity tests show that the results are robust enough.<br /> <br /> <br /> <br /> <br /> <br />* Corresponding author:<br />Reza Hesarzadeh, Associate Professor of Accounting, Ferdowsi University of Mashhad, Mashhad, Iran<br /> <br />Email: Hesarzadeh@um.ac.ir<br /> <br /> <br /> <br /> <br /> <br /><strong>1- Introduction</strong><br />The issue of asymmetric cost behavior, also known as "cost stickiness", has attracted much attention in the management accounting literature. Asymmetric cost behavior arises from management decisions to adjust resources in response to activity level changes (Anderson, Banker & Janakiraman, 2003; Banker, Byzalov, Fang & Liang, 2018). According to the economic theory of sticky costs, employees’ dismissal costs are one of the main reasons for such asymmetry. Despite the importance of adjustment costs, especially employees’ dismissal costs in cost stickiness theory, few studies have been able to empirically examine the relationship between employees’ dismissal costs and cost stickiness, because it is difficult to identify an empirical indicator for adjustment costs (Banker, Byzalov & Chen, 2013; Golden, Mashruwala & Pevzner, 2020). Therefore, in this research, "employees’ skills" is considered as an index for employees’ dismissal costs and its impact is investigated on the behavior of wages costs.<br /><strong> </strong><br /><strong>2- Hypothesis</strong><br />H<sub>1</sub>: With the skills level of employees increases, the severity of sticky wages increases.<br />H<sub>2</sub>: The intensity of Sticky wages among highly skilled firms is more.<br /><strong> </strong><br /> <br /><strong>Methods</strong><br /> <br />The statistical population of this research includes all firms listed on the Tehran Stock Exchange (TSE) that have been active in TSE during the years 2011-2020. Required data from the report of the activities of the board of directors, financial statements and explanatory notes along with the financial statements available in the stock exchange information system (called “CODAL”) and the website of the Statistics Center of Iran were collected manually.<br />The independent variable in this research is the skill level of employees. In this research, following the guidelines of the International Standard Classification of Occupations (ISCO-08), employees’ skills level is measured using these components: per capita training, work experience and employees education level.<br />The dependent variable in this research is wages stickiness. Anderson <em>et al.</em> (2003) present an empirical model (ABJ) that allows empirical examination of costs behavior.<br />In this research, following the cost stickiness literature, control variables include: GDP growth, successive decrease in revenue, asset intensity and employees’ intensity (see e.g., Anderson <em>et al.</em>, 2003; Dierynck, Landsman & Renders, 2012; Chen, Lu & Sougiannis, 2012; Banker, Byzalov and Chen, 2013; Venieris, Naoum & Vlismas, 2015; Golden <em>et al.</em>, 2020).<br /> <br /><strong>Results</strong><br /> <br />The research hypothesis was tested using the ordinary least squares regression model, taking into account the constant effects of year and firm. To solve the problem of variance heterogeneity and autocorrelation, robust regression of standard errors method (clustering standard errors at the firm level) was used. Moreover, the variance inflation factor (VIF) was used to identify collinearity.<br />The results show that the level of employees skills has a positive effect on the stickiness of wages, which is consistent with the hypothesis of the research. Also, the results show that wages costs in highly skilled firms have sticky behavior, and in low skilled firms, employees have no stickiness.<br /> <br /> <br /><strong>Discussion and Conclusion</strong><br /> <br />This research examined the impact of employees’ skills on the stickiness of wages costs in firms listed on the Tehran Stock Exchange (TSE). The results showed that the employees’ skills level has a positive impact on the stickiness of wages costs, which is in conformity with the research hypothesis. Furthermore, by examining the behavior of wages costs among firms with high and low levels of skills of employees, it was found that wages costs for firms with highly skilled employees show a sticky behavior. Meanwhile, wages cost behavior for low skill firms is anti-sticky. The results of this research are in line with the findings of research conducted by Anderson <em>et al.</em> (2003), Banker <em>et al.</em> (2013), and Golden <em>et al.</em> (2020).<br /> <br /> موضوع رفتار نامتقارن هزینهها توجه زیادی را در ادبیات حسابداری مدیریت به خود جلب نموده است. مطابق نظریة اقتصادی هزینههای چسبنده، هزینههای تعدیل منابع بهویژه هزینههای تعدیل کارکنان یکی از دلایل اصلی برای این رفتار نامتقارن است. پژوهش حاضر با بررسی تأثیر مهارت کارکنان بر چسبندگی هزینه های حقوق و دستمزد بینشی تازه برای نظریه ی اقتصادی چسبندگی هزینه ها فراهم می آورد. در این پژوهش شرکتهای پذیرفتهشده در بورس اوراق بهادار تهران در طی سال های 1390 تا 1399 به عنوان جامعه ی آماری انتخاب و مهارت کارکنان با استفاده از مؤلفه های سرانه آموزش، تجربه و سطح تحصیلات کارکنان اندازه گیری می شود. نتایج این پژوهش، نشان میدهد که سطح مهارت کارکنان بر چسبندگی هزینههای حقوق و دستمزد تأثیر مثبتی دارد. همچنین نتایج حاکی از آن است که هزینههای حقوق و دستمزد در شرکتهای با مهارت بالای کارکنان دارای چسبندگی و در شرکتهای با مهارت پایین کارکنان فاقد چسبندگی است.https://jaa.shirazu.ac.ir/article_6296_cec4e5c7cbba55fe495f1f2081463638.pdfپیشرفتهای حسابداری2008-998812220201221Identifying Factors Influencing Tendency to Cheat in Accounting by Emphasizing Fraud Triangle Theoryشناسایی عوامل مؤثر بر تمایل به تقلب در مدرسان حسابداری با تأکید بر نظریه مثلث تقلب133158600710.22099/jaa.2021.35202.1935FAرضوان حجازیاستاد حسابداری دانشگاه خاتم،تهران،ایرانحسین رجب دریدانشجوی دکتری حسابداری و عضو باشگاه پژوهشگران جوان و نخبگان ،واحد بندر عباس،دانشگاه آزاد اسلامی،بندرعباس،ایران(نویسنده مسئول)0000-0002-9064-658Xمجتبی بردباردانشجوی کارشناسی ارشد حسابداری،واحد فسا،دانشگاه آزاد اسلامی،فسا،ایرانJournal Article20191125<strong>Journal of Accounting Advances, (2020) 12(1):</strong><br />DOI: 10.22099/JAA.2021.35202.1935<br /> <br /> <br /> <br /> <br /> <br /><strong>Journal of Accounting Advances (JAA)</strong><br />Journal homepage: www.jaa.shirazu.ac.ir/?lang=en<br /> <br /> <br /> <br /> <br /> <br /><strong> </strong><br /><strong>Identifying Factors Influencing Tendency to Cheat in Accounting by Emphasizing</strong> <strong>Fraud Triangle Theory</strong><br />Rezvan Hejazi<sup>1</sup>, Hossein Rajabdorri<sup>2*</sup>, Mojtaba Bordbar<sup>3</sup><br /> <br /> <br />Professor of Accounting at Khatam University, Tehran, Iran, Hejazi33@gmail.com<br />Ph.D. Student of Accounting and Member of Young Researchers and Elite Club, Bandar Abbas Branch, Islamic Azad University, Bandar Abbas, Iran, Hosrado@gmail.com<br />M.A. Student of Accounting, Fasa Branch, Islamic Azad University, Fasa, Iran, Mojtaba.bordbar91@gmail.com<br /> <br /> <br /> <br /> <br /> <br /> <br /><strong>ARTICLE INF</strong><br /> <br /> <br /><strong>ABSTRACT</strong><br /> <br /> <br /> <br /> <br /><strong> </strong><br />Received: 2020-10-02<br />Accepted: 2021-01-24<br /> <br /> <br /> <br />The purpose of this study is to identify factors influencing the tendency to cheat in accounting by emphasizing the fraud triangle theory. Scientific and literary fraud has detrimental effects that tarnish the professional status of the scientific community. This research is in terms of practical purposes that society consists of accounting instructors of different universities in the country. For this purpose, by obtaining the opinion of 170 accounting instructors in the country in a simple random method in 2020, this issue was investigated.The effect of the dimensions of the fraud triangle including pressure (financial pressure and work pressure), opportunity (control and monitoring and technology development), and justification (unfair competition) on the tendency of fraud in accounting instructors was investigated by the partial least squares technique and structural equations in PLS software. Findings showed that there is a significant relationship between the studied factors and the tendency to cheat in accounting instructors, the severity of which is 61. Also, the study of research hypotheses showed that there is a positive and significant relationship between financial pressure (54%) and work pressure (43%) and the tendency to cheat. Also, a positive and significant relationship was observed between unfair competition and the tendency to cheat at the level of 19%. Other research findings also showed that there is no significant relationship between control and supervision and technology development with the tendency to cheat in accounting instructors. The general finding of this study indicates that more attention is paid to the tendency of fraud and plagiarism in the field of accounting and it is necessary to pay more attention to it.<br /> <br /> <br /> <br /> <br /> <br />*Corresponding author:<br /> <br />Hossein Rajabdorri<br /> <br />Ph.D. Student of Accounting and Member of Young Researchers and Elite Club, Bandar Abbas Branch, Islamic Azad University, Bandar Abbas, Iran<br /> <br />Email: Hosrado@gmail.com<br /> <br /> <br /> <br /> <br /> <br /> <br /><strong>1- Introduction</strong><br />There have been numerous reports of the tendency to cheat in Iranian universities, both formal and informal, in domestic and foreign news, highlighting the importance of paying close attention to the tendency to cheat. Although there have been numerous studies on the tendency to cheat internationally and nationally, no independent research has yet been conducted on the factors affecting accounting piracy with emphasis on the fraud triangle in Iran. It is of utmost importance in the accounting profession, and its conditions cannot be equated with other disciplines, and thus requires independent research that clarifies the need for research.<br /> <br /><strong>2- Research Questions or Hypothesis</strong><br />First hypothesis: There is a positive and significant relationship between financial pressure and the tendency to cheat.<br />Second hypothesis: There is a positive and significant relationship between work pressure and the tendency to cheat.<br />Third hypothesis: There is a negative and significant relationship between control and surveillance and the tendency to cheat.<br />Fourth hypothesis: There is a significant positive relationship between technology development and the tendency to cheat.<br />Fifth hypothesis: There is a negative significant relationship between unfair competition and the tendency to cheat.<br /> <br /><strong>3- Methods</strong><br />The present study is a descriptive-survey in terms of data collection. The primary data collection methods in this study are a combination of library and field research methods. Using a library method through study, subject literature, and research background, a suitable framework was provided for the subject. In the field method, questionnaires were used to collect information needed to investigate the topic.<br /> In order to test the research hypotheses, the structural equation technique was used in Smart PLS software.<br /> <br /><strong>4- Results</strong><br />The results showed that R2 of the study was 0.612. R<sup>2</sup> is a criterion used to connect the measurement section and the structural section to the structural equation model and indicates the effect that an exogenous variable has on an endogenous variable. The essential point here is that R<sup>2</sup> is calculated only for endogenous (dependent) structures of the pattern, and for exogenous structures, the value of this criterion is zero. The higher the R<sup>2</sup> value of the endogenous structures of a model, the better the research pattern fits. The overall result of this section will be that 56% of the factors investigated will be effective in accounting professors' tendency to cheat. There is a significant relationship between financial pressure, job pressure, and unfair competition with the tendency to cheat in accounting instructors, but there is no significant relationship between technology development and control and supervision with accounting fraud.<br /> <br /><strong>5- Discussion and Conclusion</strong><br />Pressure has been identified as a trigger for the tendency to cheat. In this study, the pressure includes financial pressure and work pressure. The first hypothesis of the study showed that there is a positive and significant relationship between financial pressure and the tendency to cheat at the level of 54%. Since the publication of the article promotes the academic standing of teachers, and when academic lecturers are promoted to higher academic positions, their salaries increase according to the academic fee scheme; financial pressure can cause academic fraud.<br />The second hypothesis of the study also showed that there is a positive and significant relationship between work pressure and the tendency to cheat at the 43% level. In relation to job stress, factors such as the desire to show off, job dissatisfaction, worry, and anxiety about losing a job can lead to cheating in accounting instructors. Lack of time is another factor that can be put in the work pressure group and cause teachers to cheat. Consequently, with regard to the factors stated, teachers tend to publish more articles in spite of the situations that lead them to cheat.<br />Opportunities in this research include technology control, monitoring, and development. The third hypothesis showed that there was no significant relationship between control and supervision and the tendency to cheat. One of the causes of fraud is the lack of internal control that will reduce the tendency to cheat despite control. The findings did not show a significant relationship between the variables considered in this hypothesis that could be due to the inefficiency and ineffectiveness of controls.<br />The fourth hypothesis also showed no significant relationship between technology development and the tendency to cheat. This was expected because the development of technology in the country in the area of research and software related to the prevention of the tendency to cheat is not appropriate.<br />In the fifth hypothesis of the research, the effect of unfair competition on the basis of fraud triangle justification on accounting theft was investigated. This part of the findings also showed that there is a positive and significant relationship between the two mentioned variables at the level of 19%. Because misconduct in which accounting officers misrepresent activities or practices or violate existing laws is an inappropriate practice that results in an increased tendency to cheat.<br /> <br /><strong>Keywords</strong>: Tendency to cheat, Plagiarism, Fraud triangle, Lecturers, Accounting.<br /> <br /> <br /><strong> </strong><br /><strong> </strong><br /><strong>Journal of Accounting Advances, (2020) 12(1): 1-27</strong><br />DOI: 10.22099/JAA.2021.40327.2124<br /> <br /> <br /> <br /> <br /> <br /><strong>Journal of Accounting Advances (JAA)</strong><br />Journal homepage: www.jaa.shirazu.ac.ir/?lang=en<br /> <br /> <br /> <br /> <br /> <br /><strong> </strong><br /><strong> </strong><br /><strong>The effect of Earnings Co-movement on </strong><strong>Quarterly Earnings Response Coefficient</strong><br />Narges Hamidian<sup>1</sup><br /> <br />1. Assistant Professor, Department of Accounting, Faculty of Administrative Sciences and Economics, University of Isfahan<br /> <br /> <br /> <br /> <br /> <br /><strong>ARTICLE INF</strong><br /> <br /> <br /><strong>ABSTRACT</strong><br /> <br /> <br /> <br /> <br /><strong> </strong><br />Received: 2021-04-12<br />Accepted: 2021-06-22<br /> <br /> <br /> <br />Prior literature shows that a firm’s earnings tend to move with other firms in the same industry. This concept is called co-movement. So investors will be able to form an expectation of a firm’s earnings from the industry. Given that the reported earnings do reflect the flow of information to the market, the purpose of this study is investigating the effect of earnings co-movement on quarterly earnings response coefficient. The sample of this study consists of 134 listed companies in Tehran Stock Exchange during the period 2008 to 2019. The results of the first hypothesis showed that the response coefficients to quarterly earnings announcement have a positive and significant relationship with the buy and hold returns in the three-day earnings announcement window, and earnings co-movement weakens this relationship. Also, the results of testing the second and third hypotheses showed that when there is good news, earnings co-movement weakens earnings response coefficient, but under bad news, earnings co-movement has no effect on earnings response coefficient.<br /> <br /> <br /> <br /> <br /> <br />* Corresponding author:<br />Narges Hamidian<br />Assistant Professor, Department of Accounting, Faculty of Administrative Sciences and Economics, University of Isfahan<br /> <br />Email: n.hamidian@ase.ui.ac.ir<br /> <br /> <br /> <br /> <br /> <br /><strong>1- Introduction</strong><br />Prior literature shows that firms’ earnings tend to co-move together, so investors will be able to form an expectation of a firm’s earnings from the market (Brown and Ball, 1967). This concept is called co-movement. Given that there is a significant relationship between a firm’s earnings and the earnings of other firms in the market, and the reported earnings do reflect the flow of information to the market, the question is whether this relationship has an effect on earnings informativeness?<br />There are two different views about how earnings co-movement impacts earnings response coefficient (earnings informativeness). First, some studies imply the higher the degree of earnings co-movement of a firm with other firms in same industry, the less informative that firm’s earnings release will be. In other words, investors will be able to predict a firm’s earnings by using similar firms in the same industry and so there will be less uncertainty about that firm’s earnings (see, e.g. Fischer and Verrecchia, 2000; Jackson et al, 2020). Second, some other papers (such as Heinle and Verrecchia, 2016 and Jackson et al., 2017) show that the more the earnings of a firm co-move with the industry and market, the less likely it is that the firm will issue a biased earnings report. So, the earnings will be more informative to investors.<br />Therefore, this study attempts to investigate the effect of earnings co-movement on quarterly earnings response coefficient. Also, because of the behavioral biases of investors in reaction to good and bad news, the effect of earnings co-movement on quarterly earnings response coefficient with considering good and bad news has also been investigated.<br /> <br /><strong>2- Hypothesis</strong><br />According to the literature, the research hypotheses include:<br /> <br />Earnings co-movement weakens response coefficient to quarterly earnings announcement.<br />Under good news, earnings co-movement weakens response coefficient to quarterly earnings announcement.<br />Under bad news, earnings co-movement strengthens the response coefficient to quarterly earnings announcement.<br /> <br /> <br /><strong>3- Methods</strong><br />In this study, in order to calculate the variables and test the hypotheses, required data has been collected from the annual and quarterly financial statements and its footnotes of listed companies in the Tehran Stock Exchange and the existing databases including “Rahavard Novin” and “Codal”. The sample of this study consists of 134 listed companies in Tehran Stock Exchange during 2008 to 2019. To test this hypotheses, the period of 8 years (2012 to 2019) and panel data methods have been used.<br /> <br /> <br /><strong>4- Results</strong><br />The results of investigating the first hypothesis showed that the response coefficients to quarterly earnings announcement have a positive and significant relationship with the buy and hold returns in the three-day earnings announcement window, and earnings co-movement weakens this relationship. Also, the results of testing the second and third hypotheses showed that when there is good news, earnings co-movement weakens earnings response coefficient, but under bad news, earnings co-movement has no effect on earnings response coefficient.<br /> <br /><strong>5- Discussion and Conclusion</strong><br />In this paper we investigated the informativeness of a firm’s earnings in the presence of information about other firms’ earnings (i.e., earnings co-movement). Some literatures show the greater the degree of co-movement, the less relevant earnings become as investors do not need to rely on the information signal from the firm because they can predict earnings from alternative sources in the same industry. On the other hand, some studies imply the greater the degree of co-movements, the less opportunity managers have to bias the earnings signal which will lead to the earnings becoming more reliable and more informative.<br />The results of investigating the first hypothesis showed that the response coefficients to quarterly earnings announcement have a positive and significant relationship with the buy and hold returns and when earnings co-movement is considered, the quarterly earnings response coefficient decreases. This means that when earnings’ firms move with other firms in the same industry, investors can get information from other firms in the industry and better predict the earnings’ firm. So, earnings announcement will contain less unexpected information. As a result, earnings response coefficient decreases. This result is consistent with Jackson et al., (2020).<br />The results of testing the second hypothesis indicates that when there is good news, earnings co-movement weakens earnings response coefficient. This implies that investors pay more attention to the good news of the industry and react less to the earnings when good news is published by the firm. But the results of testing the third hypothesis showed under bad news, earnings co-movement has no effect on earnings response coefficient. This lack of relationship may be due to the fact that investors do not pay much attention to the bad news of the industry.<br />For future studies, we suggest to analyze the relationship between co-movement and other variables such as comparability of financial statements, earnings quality, earnings management, fraud, etc. The results of this research can also be done separately by industry to determine in which industries there is more co-movement.<br /> <br /> <br /><strong> </strong><br /><strong> </strong><br /> <br /><strong> </strong><br /><strong> </strong>هدف پژوهش حاضر، بررسی عوامل مؤثر بر تمایل به تقلب در مدرسان حسابداری با تأکید بر نظریه مثلث تقلب است. تقلب علمی و ادبی دارای آثار زیان باری است که حیثیت حرفهای جامعه علمی را مخدوش میکند. این پژوهش ازلحاظ هدف کاربردی است که جامعه آن را مدرسان حسابداری دانشگاههای مختلف در سطح کشور تشکیل میدهد. برای این منظور با کسب نظر 170 نفر از مدرسان حسابداری در سطح کشور به روش تصادفی ساده در سال 1399، این موضوع بررسی شد. برای بررسی یافتهها اثر ابعاد مثلث تقلب شامل فشار (فشار مالی و فشار کاری)، فرصت (کنترل و نظارت و توسعه فناوری) و توجیه (رقابت غیرمنصفانه) بر تمایل به تقلب در مدرسان حسابداری توسط فن حداقل مربعات جزئی و معادلات ساختاری در نرمافزار PLS آزمون قرار شد. یافتههای پژوهش نشان داد که بین عوامل موردبررسی و تمایل به تقلب در مدرسان حسابداری، رابطه معناداری وجود دارد که شدت آن 61 درصد است. همچنین، بررسی فرضیههای پژوهش نشان دادکه بین فشار مالی (54 درصد) و فشار کاری (43 درصد) و تمایل به تقلب نیز رابطه مثبت و معناداری وجوددارد. افزون بر آن، بین رقابت غیرمنصفانه و تمایل به تقلب نیز رابطه مثبت و معناداری در سطح 19 درصد مشاهده شد. سایر یافتههای پژوهش نیز نشان داد که بین کنترل و نظارت و توسعه فناوری با تمایل به تقلب در مدرسان حسابداری رابطه معناداری وجود ندارد. یافته کلی این پژوهش بیانگر توجه بیشتر به مقوله تمایل به تقلب وسرقت ادبی دررشته حسابداری است و لازم است توجه بیشتری به آن صورت گیرد.https://jaa.shirazu.ac.ir/article_6007_78d17fb018f272e3219aae86a7b924d7.pdfپیشرفتهای حسابداری2008-998812220201221The effect of Earnings Co-movement on Quarterly Earnings Response Coefficientتاثیر هم حرکتی سود بر ضریب واکنش اعلام سودهای فصلی159190621910.22099/jaa.2021.40327.2124FAنرگس حمیدیاناستادیار گروه حسابداری دانشکده علوم اداری و اقتصاد، دانشگاه اصفهانJournal Article20210412<strong>Journal of Accounting Advances, (2020) 12(1): 1-27</strong><br />DOI: 10.22099/JAA.2021.40327.2124<br /> <br /> <br /> <br /> <br /> <br /><strong>Journal of Accounting Advances (JAA)</strong><br />Journal homepage: www.jaa.shirazu.ac.ir/?lang=en<br /> <br /> <br /> <br /> <br /> <br /><strong> </strong><br /><strong> </strong><br /><strong>The effect of Earnings Co-movement on </strong><strong>Quarterly Earnings Response Coefficient</strong><br />Narges Hamidian<sup>1</sup><br /> <br />1. Assistant Professor, Department of Accounting, Faculty of Administrative Sciences and Economics, University of Isfahan<br /> <br /> <br /> <br /> <br /> <br /><strong>ARTICLE INF</strong><br /> <br /> <br /><strong>ABSTRACT</strong><br /> <br /> <br /> <br /> <br /><strong> </strong><br />Received: 2021-04-12<br />Accepted: 2021-06-22<br /> <br /> <br /> <br />Prior literature shows that a firm’s earnings tend to move with other firms in the same industry. This concept is called co-movement. So investors will be able to form an expectation of a firm’s earnings from the industry. Given that the reported earnings do reflect the flow of information to the market, the purpose of this study is investigating the effect of earnings co-movement on quarterly earnings response coefficient. The sample of this study consists of 134 listed companies in Tehran Stock Exchange during the period 2008 to 2019. The results of the first hypothesis showed that the response coefficients to quarterly earnings announcement have a positive and significant relationship with the buy and hold returns in the three-day earnings announcement window, and earnings co-movement weakens this relationship. Also, the results of testing the second and third hypotheses showed that when there is good news, earnings co-movement weakens earnings response coefficient, but under bad news, earnings co-movement has no effect on earnings response coefficient.<br /> <br /> <br /> <br /> <br /> <br />* Corresponding author:<br />Narges Hamidian<br />Assistant Professor, Department of Accounting, Faculty of Administrative Sciences and Economics, University of Isfahan<br /> <br />Email: n.hamidian@ase.ui.ac.ir<br /> <br /> <br /> <br /> <br /> <br /><strong>1- Introduction</strong><br />Prior literature shows that firms’ earnings tend to co-move together, so investors will be able to form an expectation of a firm’s earnings from the market (Brown and Ball, 1967). This concept is called co-movement. Given that there is a significant relationship between a firm’s earnings and the earnings of other firms in the market, and the reported earnings do reflect the flow of information to the market, the question is whether this relationship has an effect on earnings informativeness?<br />There are two different views about how earnings co-movement impacts earnings response coefficient (earnings informativeness). First, some studies imply the higher the degree of earnings co-movement of a firm with other firms in same industry, the less informative that firm’s earnings release will be. In other words, investors will be able to predict a firm’s earnings by using similar firms in the same industry and so there will be less uncertainty about that firm’s earnings (see, e.g. Fischer and Verrecchia, 2000; Jackson et al, 2020). Second, some other papers (such as Heinle and Verrecchia, 2016 and Jackson et al., 2017) show that the more the earnings of a firm co-move with the industry and market, the less likely it is that the firm will issue a biased earnings report. So, the earnings will be more informative to investors.<br />Therefore, this study attempts to investigate the effect of earnings co-movement on quarterly earnings response coefficient. Also, because of the behavioral biases of investors in reaction to good and bad news, the effect of earnings co-movement on quarterly earnings response coefficient with considering good and bad news has also been investigated.<br /> <br /><strong>2- Hypothesis</strong><br />According to the literature, the research hypotheses include:<br /> <br />Earnings co-movement weakens response coefficient to quarterly earnings announcement.<br />Under good news, earnings co-movement weakens response coefficient to quarterly earnings announcement.<br />Under bad news, earnings co-movement strengthens the response coefficient to quarterly earnings announcement.<br /> <br /> <br /><strong>3- Methods</strong><br />In this study, in order to calculate the variables and test the hypotheses, required data has been collected from the annual and quarterly financial statements and its footnotes of listed companies in the Tehran Stock Exchange and the existing databases including “Rahavard Novin” and “Codal”. The sample of this study consists of 134 listed companies in Tehran Stock Exchange during 2008 to 2019. To test this hypotheses, the period of 8 years (2012 to 2019) and panel data methods have been used.<br /> <br /> <br /><strong>4- Results</strong><br />The results of investigating the first hypothesis showed that the response coefficients to quarterly earnings announcement have a positive and significant relationship with the buy and hold returns in the three-day earnings announcement window, and earnings co-movement weakens this relationship. Also, the results of testing the second and third hypotheses showed that when there is good news, earnings co-movement weakens earnings response coefficient, but under bad news, earnings co-movement has no effect on earnings response coefficient.<br /> <br /><strong>5- Discussion and Conclusion</strong><br />In this paper we investigated the informativeness of a firm’s earnings in the presence of information about other firms’ earnings (i.e., earnings co-movement). Some literatures show the greater the degree of co-movement, the less relevant earnings become as investors do not need to rely on the information signal from the firm because they can predict earnings from alternative sources in the same industry. On the other hand, some studies imply the greater the degree of co-movements, the less opportunity managers have to bias the earnings signal which will lead to the earnings becoming more reliable and more informative.<br />The results of investigating the first hypothesis showed that the response coefficients to quarterly earnings announcement have a positive and significant relationship with the buy and hold returns and when earnings co-movement is considered, the quarterly earnings response coefficient decreases. This means that when earnings’ firms move with other firms in the same industry, investors can get information from other firms in the industry and better predict the earnings’ firm. So, earnings announcement will contain less unexpected information. As a result, earnings response coefficient decreases. This result is consistent with Jackson et al., (2020).<br />The results of testing the second hypothesis indicates that when there is good news, earnings co-movement weakens earnings response coefficient. This implies that investors pay more attention to the good news of the industry and react less to the earnings when good news is published by the firm. But the results of testing the third hypothesis showed under bad news, earnings co-movement has no effect on earnings response coefficient. This lack of relationship may be due to the fact that investors do not pay much attention to the bad news of the industry.<br />For future studies, we suggest to analyze the relationship between co-movement and other variables such as comparability of financial statements, earnings quality, earnings management, fraud, etc. The results of this research can also be done separately by industry to determine in which industries there is more co-movement.<br /> <br /> <br /><strong> </strong><br /><strong> </strong><br /> <br /><strong> </strong><br /><strong> </strong>ادبیات پیشین نشان میدهد سود یک شرکت همراه با سود سایر شرکتها در همان صنعت حرکت میکند. این مفهوم، اصطلاحا هم حرکتی سود نامیده میشود که سرمایهگذاران میتوانند بر اساس آن انتظارات خود از سود شرکت را با استفاده از اطلاعات صنعت شکل دهند. از آنجاییکه سودهای فصلی منعکس کننده جریان اطلاعات به بازار هستند هدف پژوهش حاضر بررسی تاثیر هم حرکتی سود بر واکنش سرمایهگذاران نسبت به اعلام سودهای فصلی شرکتها است. نمونه پژوهش شامل داده های فصلی 134 شرکت پذیرفتهشده در بورس اوراق بهادار تهران در دوره زمانی 1387 تا 1398 است. نتایج حاصل از آزمون فرضیه اول نشان داد ضریب واکنش سودهای فصلی با بازده خرید و نگهداری در پنجره سه روزه اعلام سود رابطه مثبت و معنادار دارد و هم حرکتی سود این رابطه را تضعیف میکند. این بدین مفهوم است که میزان بالاتر هم حرکتی سود شرکت منجر به کاهش ضریب واکنش سود میشود. همچنین نتایج آزمون فرضیه دوم و سوم نشان داد زمانی که اخبار خوب سود وجود دارد هم حرکتی سود، ضریب واکنش سود را تضعیف میکند ولی در شرایط وجود اخبار بد، هم حرکتی تاثیری بر ضریب واکنش سود ندارد.https://jaa.shirazu.ac.ir/article_6219_435050a2a00f78a3b7c328473c2c94a9.pdfپیشرفتهای حسابداری2008-998812220201221The Effect of Risk Disclosure and its Types on Crash Stock Price Riskتأثیر افشای ریسک و انواع آن بر ریسک سقوط قیمت سهام191229599710.22099/jaa.2021.38010.2046FAسیده زهرا طباطباییدانشجوی دکتری، گروه حسابداری، دانشکده علوم اداری و اقتصاد، دانشگاه اصفهان، اصفهان، ایرانسید عباس هاشمیدانشیار گروه حسابداری دانشکده علوم اداری و اقتصاد دانشگاه اصفهان نویسنده مسئول)هادی امیریاستادیار گروه اقتصاد دانشکده علوم اداری و اقتصاد، دانشگاه اصفهانJournal Article20200809<strong>Journal of Accounting Advances, (2020) 12(1):</strong><br />DOI: 10.22099/JAA.2021.38010.2046<br /> <br /> <br /> <br /> <br /> <br /><strong>Journal of Accounting Advances (JAA)</strong><br />Journal homepage: www.jaa.shirazu.ac.ir/?lang=en<br /> <br /> <br /> <br /> <br /> <br /><strong> </strong><br /><strong>Effect of Risk Disclosure and its Types on Crash Stock Price Risk</strong><br />Seyedeh Zahra Tabatabaei<sup>1</sup>, Seyed Abbas Hashemi<sup>2*</sup>, Hadi Amiri<sup>3 </sup><br /> <br /> <br /> <br />PhD student in Accounting, Esfahan University, Esfahan, Iran. z.tabatabaei@ase.ui.ac.ir<br />2. Associate Professor of Accounting, Esfahan University, Esfahan, Iran. a.hashemi@ase.ui.ac.ir<br />3. Assistant Professor of Economics, Esfahan University, Esfahan, Iran. h.amiri2@ase.ui.ir<br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /><strong>ARTICLE INF</strong><br /> <br /> <br /><strong>ABSTRACT</strong><br /> <br /> <br /> <br /> <br /><strong> </strong><br />Received: 2020-08-09<br />Accepted: 2021-01-18<br /> <br /> <br /> <br />The act of hiding and accumulating the bad news within the company by management has led to the creation of massive negative information. The sudden outburst of this news to the market would cause a stock price crash. In this regard, information disclosure about the risks faced by the company can lead to transparency of information and thus reduce the stock price crash risk. The goal of this research is to survey the effect of disclosure of risk and its types on stock price crash risk. In this study, 548 company-years during the period from 2011 to 2019 have been selected using systematic deletion method and research hypotheses have been tested using regression based on panel data with fixed effects. The results indicate that the disclosure of total risk has a negative and significant effect on the stock price crash risk. types of risk disclosures including financial risk, non-financial operating risk and strategic non-financial risk have a negative and significant effect on stock price crash risk.<br /> <br /> <br /> <br /> <br /> <br />* Corresponding author:<br /> <br />Seyed Abbas Hashemi<br /> <br />Associate Professor of Accounting, Esfahan University, Esfahan, Iran.<br />Email: a.hashemi@ase.ui.ac.ir<br /> <br /> <br /> <br /> <br /> <br /><strong>1- Introduction</strong><br />In order to protect the manager's interests, attempts are made to conceal negative news inside the company and not disclose it. The act of hiding the bad news and accumulating it within the company has led to the creation of a mass of negative information. The sudden outburst of such news to the market will cause a dramatic decrease in stock prices. In this regard, disclosure of information about the risks faced by the company can lead to transparency of information and thus reduce the stock price crash risk. The aim of this study is to investigate the effect of risk disclosure, including financial risk, non-financial operating risk and strategic non-financial risk on stock price crash risk.<br /> <br /><strong>2- Hypothesis</strong><br />Based on what was stated in the theoretical foundations of the research, one of the factors affecting the stock price crash risk is the disclosure of various risks. If the disclosure of the risks to which the company is exposed has informational content, it is expected to reduce the stock price crash risk. Therefore, the research hypotheses were formulated as follows:<br /> H1: Disclosure of total risk by the company has a negative impact on the stock price crash risk.<br />H2: Disclosure of financial risk by the company has a negative impact on the stock price crash risk.<br /> H3: Disclosure of non-financial operating risk by the company has a negative impact on the stock price crash risk.<br />H4: Disclosure of strategic non-financial risk by the company has a negative impact on the stock price crash risk.<br /> <br /><strong>3- Methods</strong><br />Since the results of this research can be used in the decisions of users of financial statements, the purpose of this research is categorized as an applicable one. Besides, in terms of nature, it is included in descriptive research groups. It is also based on real information about the financial statements of companies listed on the Tehran Stock Exchange, which can be generalized to the entire statistical community by inductive method. As the goal of this research is to analyze the effect of exposing different types of risk on stock price crash risk, so it is in the field of post-event studies. In this research, the achievement of results has been done by testing the available data, so the present study is considered in the group of positive research.<br /> <br /><strong>4- Results</strong><br />The first hypothesis of the research based on the negative and significant effect of total risk disclosure on stock price crash risk was not rejected. The results of this hypothesis indicate that the higher the risk disclosure in financial reporting, the lower the stock price crash risk. The second hypothesis of the research based on the negative and significant effect of disclosure of financial risk on stock price crash risk was not rejected. The results of this hypothesis indicate that the higher the level of disclosure of financial risk in financial reporting, the lower the stock price crash risk. The third hypothesis of research based on the negative and significant effect of non-financial operational risk disclosure on stock price crash risk was not rejected. The results of this hypothesis show that as the amount of non-financial operational risk disclosure in financial reporting increases, the stock price crash risk will decrease. The fourth hypothesis of the research based on the negative and significant effect of disclosure of strategic non-financial risk on stock price crash risk was not rejected. The results of this hypothesis reveals that, as the level of disclosure of strategic non-financial risk in financial reporting increases, the stock price crash risk will decrease.<br /> <br /><strong>5- Conclusion</strong><br />The results of this reserach suggest that the disclosure of risk and its types in the Report of Directors has information content. As a result of more timely disclosure of information about the good and bad news of the company and reducing the motivation of managers to accumulate bad news and publish this news to the market, the stock price crash risk is reduced. Also, among the types of risk disclosure, using both negative skewness of stock returns criteria and down-to-up volatility, disclosure of non-financial operational risk leads to a further reduction in the stock price crash risk.<br /> <br /> <br /> <br /> عدم انتشار اخبار بد و انباشت آنها در داخل شرکت توسط مدیران، منجر به ایجاد یک توده از اطلاعات منفی شده که انتشار یکباره این اخبار به بازار منجر به سقوط قیمت سهام میگردد. در این راستا افشای اطلاعات در خصوص ریسکهایی که شرکت با آنها مواجه است میتواند منجر به شفافیت اطلاعات و در نتیجه کاهش ریسک سقوط قیمت سهام شود. هدف پژوهش حاضر بررسی تاثیر افشای ریسک از جمله ریسک مالی، ریسک غیرمالی عملیاتی و ریسک غیرمالی راهبردی بر ریسک سقوط قیمت سهام میباشد. در این پژوهش برای ارزیابی و تشخیص افشای ریسک و انواع آن، ابتدا با استفاده از پیشینه پژوهش و نظرسنجی از خبرگان واژههایی که بیانگر ریسک هستند تعیین گردید. سپس با استفاده از روش تجزیه و تحلیل متن گزارش فعالیت هیات مدیره فراوانی واژههای ریسک محاسبه شده است. همچنین تعداد 548 سال-شرکت در طی دوره زمانی سالهای 1389 تا 1397 با استفاده از روش حذف نظامند انتخاب و فرضیههای پژوهش با استفاده از رگرسیون مبتنی بر دادههای تابلویی با اثرات ثابت آزمون شده است. نتایج پژوهش بیانگر این است که افشای ریسک کل تاثیر منفی و معناداری بر ریسک سقوط قیمت سهام دارند. همچنین انواع افشای ریسک شامل ریسک مالی، ریسک غیرمالی عملیاتی و ریسک غیرمالی راهبردی بر ریسک سقوط قیمت سهام تاثیر منفی و معناداری دارند. بهعبارتی با افشای دقیقتر اطلاعات ریسک، عدم تقارن اطلاعاتی کاهش یافته و مدیران انگیزه کمتری به نگهداشت اخبار بد در شرکت دارند از اینرو ریسک سقوط قیمت سهام کاهش مییابد.https://jaa.shirazu.ac.ir/article_5997_c969bb35ce55627c8c008a65cb1c2197.pdfپیشرفتهای حسابداری2008-998812220201221the Impact of Corporate Governance Mechanisms on Readability of Audit Reportبررسی تاثیر مکانیزم های حاکمیت شرکتی بر خوانایی گزارش حسابرس231268598910.22099/jaa.2021.36326.1990FAشایان فرهنگ دوستکارشناس ارشد حسابرسی،دانشکده مدیریت و حسابداری،دانشگاه بین المللی امام رضا(ع)،مشهد،ایران(نویسنده مسئول)0000-0002-7684-7027آرزو زند شانقیکارشناس ارشد حسابرسی،دانشکده مدیریت و حسابداری،موسسه آموزش عالی کاویان،مشهد،ایرانسعید شیرشکنکارشناس ارشد حسابرسی،دانشکده مدیریت و حسابداری،دانشگاه بین المللی امام رضا(ع)،مشهد،ایرانJournal Article20200419<strong>Journal of Accounting Advances, (2020) 12(1):</strong><br />DOI: 10.22099/JAA.2021.36326.1990<br /> <br /> <br /> <br /> <br /> <br /><strong>Journal of Accounting Advances (JAA)</strong><br />Journal homepage: www.jaa.shirazu.ac.ir/?lang=en<br /> <br /> <br /> <br /> <br /> <br /><strong> </strong><br /><strong>The Impact of Corporate Governance Mechanisms on</strong><br /><strong>Readability of Audit Report</strong><br />Shayan Farhangdoust<sup>*1</sup>, Arezoo Zand Shanaghi<sup>2</sup>, Saeed Shirshekan<sup>3</sup><br /> <br /> <br />Department of Accounting, Imam Reza International University, Mashhad, Iran. shayan_fd@yahoo.com<br />Department of Accounting, Kavian Institute of Higher Education, Mashhad, Iran. zandarezoo95@gmail.com<br />Department of Accounting, Imamreza International University, Mashhad, Iran. saeedshirshekan@gmail.com<br /> <br /> <br /> <br /> <br /> <br /> <br /><strong>ARTICLE INF</strong><br /> <br /> <br /><strong>ABSTRACT</strong><br /> <br /> <br /> <br /> <br /><strong> </strong><br />Received: 2020-05-17<br />Accepted: 2020-12-27<br /> <br /> <br /> <br />Theoretically, due to the separation of ownership and management, audit and financial reports are regarded as a communication bridge between managers and outside stakeholders. Nevertheless, the increasing weakening of the readability levels of financial and audit reports in recent years has had an adverse effect on their communication performance. Therefore, the present study aims to examine the impact of corporate governance mechanisms on audit report readability in the Tehran Stock Exchange. In this regard, the corporate governance mechanisms include corporate board’s independence, corporate board’s financial expertise, audit committee’s independence, CEO duality, board’s gender and institutional ownership. We also use Flesch and Fog readability indices as our readability measures. The statistical population of this research includes all listed companies on the Tehran Stock Exchange whose stocks are actively traded. A sample of 103 companies (721 firm-year observations) during the period 2011 to 2017 are chosen from this statistical population after lifting intended restrictions. Our findings suggest that corporate governance mechanisms significantly affect audit report readability.<br /> <br /> <br /> <br /> <br /> <br />* Corresponding author:<br />Shayan Farhangdoust<br /> <br />Department of Accounting, Imam Reza International University, Mashhad, Iran.<br /> <br />Email:<br />Shayan_fd@yahoo.com<br /> <br /> <br /> <br /> <br /> <br /> <br /><strong>1- Introduction</strong><br />Theoretically, due to the separation of ownership and management, audit and financial reports are regarded as a communication bridge between managers and outside stakeholders. Nevertheless, the increasing weakening of the readability levels of financial and audit reports in recent years has had an adverse effect on their communication performance. Therefore, the present study aims to examine the impact of corporate governance mechanisms on audit report readability in the Tehran Stock Exchange.<br /> <br /><strong>2- Hypothesis</strong><br /> The present study uses six different corporate governance mechanisms including board independence, board financial expertise, board gender, CEO duality, audit committee independence and institutional ownership as potential mechanisms likely to affect audit report readability. Accordingly, we present our main and sub-hypotheses as follows:<br />Main hypothesis: corporate governance mechanism affects audit report readability.<br />Sub-H1: board’s independence affects audit report readability.<br />Sub-H2: board’s financial expertise affects audit report readability.<br />Sub-H3: board’s gender affects audit report readability.<br />Sub-H4: CEO duality affects audit report readability.<br />Sub-H5: audit committee independence affects audit report readability.<br />Sub-H6: institutional ownership affects audit report readability.<br /><strong> </strong><br /><strong>3- Methodology</strong><br />We use Flesch and Fog readability indices as our readability measures. The statistical population of this research includes all listed companies on the Tehran Stock Exchange whose stocks are actively traded. A sample of 103 companies (721 firm-year observations) during the period 2011 to 2017 are chosen from this statistical population after lifting intended restrictions.<br /> <br /><strong>4- Results</strong><br />Our findings suggest that corporate governance mechanisms significantly affect audit report readability. More specifically, our findings indicate that corporate board’s independence, board’s financial expertise and CEO duality are significantly associated with audit report readability.<br /> <br /><strong>5- Conclusion</strong><br />The present research is among the applied researches. The audit report serves as a bridge between the auditor and the users of the financial statements, and therefore its transparency and legibility will give credibility and legitimacy to the auditors. In other words, the difficulty or illegibility of the audit report will reduce the desirability of the audit opinion. Therefore, it is expected that the findings of the present study could inform the Tehran Stock Exchange, auditing firms and auditing standard setters, including the Certified Public Accountants, to create and strengthen strategies to increase the readability of audit reports and more appropriate governance mechanisms and prevent managerial opportunistic behaviors such as earnings management in the future.<br /><strong> </strong><br /> <br /> <br /> از جنبه نظری، به سبب تفکیک مالکیت از مدیریت، گزارشهای مالی و حسابرسی پلی ارتباطی میان مدیران و ذینفعان بیرونی در شرکتهای سهامی محسوب میشوند. با این حال، تضعیف فزاینده سطوح خوانایی گزارشهای مالی و حسابرسی در سالهای اخیر بر عملکرد ارتباطی آنها تاثیر معکوس داشته است. لذا، هدف این پژوهش آزمون رابطه میان مکانیزمهای حاکمیت شرکتی و خوانایی گزارش حسابرس در بازار بورس اوراق بهادار تهران میباشد. مکانیزمهای حاکمیت شرکتی مورد بررسی شامل استقلال هیئتمدیره، تخصص مالی هیئتمدیره، استقلال کمیته حسابرسی، دوگانگی وظایف مدیرعامل، جنسیت هیئتمدیره و مالکیت نهادی میباشد و به منظور سنجش خوانایی گزارش حسابرس نیز از دو شاخص فلش و فوگ استفاده شده است. جامعه آماری پژوهش شامل تمامی شرکتهای فعال در بازار بورس اوراق بهادار تهران میباشد که پس از اعمال محدودیتهای موردنظر، تعداد 103 شرکت (721 مشاهده سال-شرکت) در قلمروی زمانی سالهای 1390 تا 1396 انتخاب گردید. نتایج حاصل از آزمون فرضیههای پژوهش حاکی از وجود ارتباط معنادار میان مکانیزم های حاکمیت شرکتی مذکور و خوانایی گزارش حسابرسی میباشد.https://jaa.shirazu.ac.ir/article_5989_aff2211de65ff2b33288c840c287101b.pdfپیشرفتهای حسابداری2008-998812220201221Investigating the Mediating Role of Overconfidence on the Effect of Senior Managers' Personality Traits on Financial Distress of Companies Listed in Tehran Stock Exchangeبررسی نقش واسطهای اعتماد به نفس بیش از حد بر میزان اثرگذاری ویژگیهای شخصیتی مدیران ارشد بر درماندگی مالی شرکتهای پذیرفته شده در بورس اوراق بهادار تهران269292600110.22099/jaa.2021.36423.1996FAخدامراد قانی دهکردیدانشجوی دکتری گروه حسابداری،دانشکده علوم انسانی،,واحد شهر کرد،دانشگاه آزاد اسلامی ،شهرکرد،ایرانحمیدرضا جعفری دهکردیاستادیار گروه حسابداری-دانشکده علوم انسانی،واحد شهر کرد،دانشگاه ازاد اسلامی ،شهرکرد،ایرانجمشید پیک فلکاستادیار گروه حسابداری،دانشکده علوم انسانی،واحد شهر کرد،دانشگاه ازاد اسلامی ،شهرکرد،ایرانJournal Article20200222<strong>Journal of Accounting Advances, (2020) 12(1):</strong><br />DOI: 10.22099/JAA.2021.36423.1996<br /> <br /> <br /> <br /> <br /> <br /><strong>Journal of Accounting Advances (JAA)</strong><br />Journal homepage: www.jaa.shirazu.ac.ir/?lang=en<br /> <br /> Khodamorad Ghani Dehkordi<sup>1</sup>,<sup> </sup>Hamid Reza Jafari Dehkordi<sup>2</sup>, Jamshid Peikfalak<sup>3</sup><br />1 PhD student, Department of Accounting, Faculty of Humanities, Shahrekord Branch, Islamic Azad University, Shahrekord, Iran. Ghani247@yahoo.com.<br /><sup>2</sup> Assistant Professor, Department of Accounting, Faculty of Humanities, Shahrekord Branch, Islamic Azad University, Shahrekord, Iran. (Corresponding, Author) hamidreza.jafaridehkordi@yahoo.com.<br />3 Assistant Professor, Department of Accounting, Faculty of Humanities, Shahrekord Branch, Islamic Azad University, Shahrekord, Iran. peikfalak@yahoo.com<br /> <br /> <br /> <br /> <br /><strong> </strong><br /><strong>Investigating the Mediating Role of Excessive Overconfidence on the Effect of Personality Traits of Senior Managers on the Financial Distress of Companies Listed on the Tehran Stock Exchange</strong><br /> <br /> <br /> <br /> <br /> <br /> <br /><strong>ARTICLE INF</strong><br /> <br /> <br /><strong>ABSTRACT</strong><br /> <br /> <br /> <br /> <br /><strong> </strong><br />Received: 2020-09-26<br />Accepted: 2021-01-18<br /> <br /> <br /> <br />The purpose of this research is to investigate the mediating role of senior managers' overconfidence in the extent to which their personality traits affect companies' financial distress. The statistical sample studied in this paper is 181 senior managers of companies listed on the Tehran Stock Exchange in 2018, using the following questionnaires: Neo five-factor model (McCrae and Costa, 1985), Rosenberg overconfidence (1965), and the designed checklist of financial distress and structural equation modeling method, PLS software were tested. The results showed that the personality dimensions of extraversion, openness to experience and agreeableness with indirect path coefficients of 0.23, 0.073 and 0.101, respectively, through the mediating variable of Overconfidence had a positive effect on firms' financial distress, but the characteristics of conscientious personality and neuroticism had no effect on financial distress through the mediating variable of overconfidence. The variable of overconfidence has a positive direct effect on financial distress and directly explains more than 45% of the changes of the variable of financial distress.<br /> <br /> <br /> <br /> <br /> <br />* Corresponding author:<br /> <br />Hamid Reza Jafari Dehkordi<br />Assistant Professor of Accounting, Faculty of Humanities, Islamic Azad University, Shahrekord Branch, Iran<br />Email: hamidreza.jafaridehkordi@yahoo.com<br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /><strong>Introduction</strong><br /> <br />Corporate financial distress has always been one of the main concerns of creditors, investors and governments, so that early detection of companies that are on the verge of financial distress can to some extent prevent potential losses to stakeholders (Mashayekhi & Ganji, 2014). Determining the exact cause or causes of bankruptcy and financial problems is not an easy task. In most cases, multiple causes together lead to the phenomenon of bankruptcy. However, these factors can be classified into two general groups of intra-organizational and extra-organizational reasons (Bruno and Lei Decker, 2008). Inefficient management and lack of management are among the most important reasons within the organization of this phenomenon (Newton, 1998). Studies conducted by personality models have often highlighted the role of personality as one of the most important determinants in job performance, success and productivity (Alizadeh, 2007). According to Taylor and Brown (1998), "overconfidence is an effective factor in increasing performance, but if people are overconfident in their capabilities, it will lead to judgmental biases." Therefore, identifying the factors affecting companies’ financial distress, including: personality traits of senior managers (including: neuroticism, extroversion, openness to experience, adaptability and conscientiousness) and their overconfidence, factors that greatly influence companies' financial decisions and performance, is one of the most important issues in predicting and preventing financial distress and corporate bankruptcy, which has been addressed in the present study.<br /> <br /> <br /><strong>Hypotheses</strong><br /> <br />The purpose of this study was to investigate the mediating role of overconfidence on the effect of personality traits of senior managers on corporate financial distress. Accordingly, research hypotheses are formulated as follows.<br />H1: The personality factor of neuroticism indirectly has a negative effect on corporate financial distress through the intermediate variable of overconfidence of senior managers.<br />H2: The personality factor of extroversion indirectly has a positive effect on the financial distress of companies through the intermediate variable of overconfidence of senior managers.<br />H3: The personality factor of openness to experienceindirectly has a positive effect on corporate financial distress through the intermediate variable of overconfidence of senior managers.<br />H4: The personality factor of adaptation indirectly has a positive effect on corporate financial distress through the intermediate variable of overconfidence of senior managers.<br />H5: The conscientious personality factor indirectly has a negative effect on corporate financial distress through the intermediate variable of overconfidence of senior managers.<br />H6: Overconfidence of senior managers has a positive effect on companies' financial distress.<br /> <br /> <br /><strong>Method</strong><br /> <br />To examine the subject of the research, the required data through the financial statements of companies listed on the Tehran Stock Exchange and standard questionnaires of Five factors of neo personality (McCrae and Costa (1985), overconfidence (Rosenberg, 1965) and designed checklist of financial distress were collected. Structural equation modeling method, Smart PLS2 software was used to analyze the data. The statistical sample studied in this study includes 181 senior managers of manufacturing companies listed on the Tehran Stock Exchange in 1397 who were selected by purposive removal method.<br /> <br /> <br /><strong>Results</strong><br /> <br />The results of testing the hypotheses showed that some personality traits of senior managers indirectly affect the financial distress of companies through the mediating variable of overconfidence, in such a way that:<br />The test results of the first and fifth hypotheses indicated that personality traits of neuroticism and conscientious did not have an indirect effect on managers' financial distress through overconfidence of managers.<br />The test results of the second, third and fourth hypotheses showed that the personality dimensions of extraversion, openness to experience and adaptability with indirect path coefficient of 0.23, 0.073, 0.101, respectively, indirectly through the mediating variable of overconfidence have a positive effect on companies’ financial distress.<br /> The result of the sixth hypothesis, showed that the variable of overconfidence with a positive effect on financial distress, directly explains more than 45% of the changes of the variable of financial distress.<br /> <br /> <br /><strong>Discussion and Conclusion</strong><br /> <br />Findings showed that the three personality dimensions of extraversion, openness to experience and adaptability of senior managers indirectly through the variable of overconfidence have a positive effect on the financial distress of companies and two personality dimensions of neuroticism and conscientiousness indirectly through the intermediate variable of overconfidence had no effect on the financial distress of companies. Therefore, considering the strategic decisions of senior managers in the success and failure of companies, which can be affected by the personality traits and their overconfidence behavioral bias, and also requires the responsibility of managers to be accountable to the company's stakeholders, shareholders and the appointing committee of senior managers of companies, when selecting senior managers, consider the personality traits and behavioral bias of their managers' overconfidence as two factors affecting the company's performance. From the perspective of this study, are individuals with conscientious personality traits, the best range of personality and the option of appointment to hold managerial positions at various organizational levels, especially senior managers.<br /><strong> </strong><br /> <br /> <br /> <br /> <br /> هدف این پژوهش، بررسی نقش واسطهای اعتماد به نفس بیشاز حد مدیران ارشد بر میزان اثرگذاری ویژگیهای شخصیتی آنها بر درماندگیمالی شرکتها میباشد. نمونه آماری مورد مطالعه در این پژوهش 181 مدیر ارشد شرکتهای پذیرفته شده در بورس اوراق بهادار تهران در سال 1397 میباشد که با استفاده از پرسشنامههای: پنج عاملی نئو (مککری و کاستا،1 1985)، اعتماد به نفس بیش از حد روزنبرگ،2(1965) و چک لیست طراحیشده درماندگیمالی و روش مدلسازی معادلات ساختاری، نرمافزار PLS مورد آزمون قرار گرفتند. نتایج پژوهش نشان داد، ابعاد شخصیتی برونگرایی، تجربهپذیری و تطابقپذیری به ترتیب با ضریب مسیر غیرمستقیم 23/0، 073/0 و 101/0 از طریق متغیر واسطهای اعتماد به نفس بیشازحد تاثیر مثبت بر درماندگیمالی شرکتها داشتند، اما ویژگیهای شخصیتی وظیفهشناسی و روانرنجوری از طریق متغیر واسطهای اعتماد به نفس بیشازحد تاثیری بر درماندگیمالی نداشتند. متغیر اعتماد به نفس بیشاز حد با تاثیر مثبت بر درماندگیمالی، بیش از 45 درصد از تغییرات متغیر درماندگیمالی را به طور مستقیم تبیین میکند. <br />کلید واژه: درماندگیمالی، اعتماد به نفس بیشاز حد،. ویژگیهای شخصیتی.https://jaa.shirazu.ac.ir/article_6001_0e2116f7dc0f8c11aa1ff7d09aa3d7ac.pdfپیشرفتهای حسابداری2008-998812220201221A Model for Identification of Internal Audit Quality Criteria From the perspective of professional expertsمدلی برای شناسایی معیارهای سنجش کیفیت حسابرسی داخلی از منظر خبرگان حرفه ای293319607410.22099/jaa.2021.34214.1892FAسعید محسنی نیادانشجوی دکترای حسابداری،دانشگاه علامه طباطبایی،تهران،ایرانجعفر باباجانیاستاد حسابداری،دانشگاه علامه طباطبایی،تهران،ایران(نویسنده مسئول)محمدتقی تقوی فرددانشیار مدیریت صنعتی،دانشگاه علامه طباطبایی،تهران ،ایرانJournal Article20190708 <br /><strong>Journal of Accounting Advances, (2020) 12(1):</strong><br />DOI: 10.22099/JAA.2021.34214.1892<br /> <br /> <br /> <br /> <br /> <br /><strong>Journal of Accounting Advances (JAA)</strong><br />Journal homepage: www.jaa.shirazu.ac.ir/?lang=en<br /> <br /> <br /> <br /> <br /> <br /><strong> </strong><br /><strong>A Model for Identification of Internal Audit Quality Criteria</strong><br /><strong>From the perspective of professional experts</strong><br />Saeed Mohseninia<sup>1</sup>, Jafar Babajani<sup>2*</sup>, Mohammadtaghi Taghavifard<sup>3</sup><br /><strong> </strong><br /> <br />PhD Student of Accounting, School of Graduate Studies, Allameh Tabataba'i University, Tehran, Iran, Samoh1362@yahoo.com<br />Full Prof of Accounting Department, Faculty of Management & Accounting, Allameh Tabataba'i University, Tehran, Iran, jafar.babajani@gmail.com<br />Assistant Prof of Industrial Management Department, Faculty of Management & Accounting, Allameh Tabataba'i University, Tehran, Iran, dr.taghavifard@gmail.com<br /> <br /> <br /> <br /> <br /> <br /> <br /><strong>ARTICLE INF</strong><br /> <br /> <br /><strong>ABSTRACT</strong><br /> <br /> <br /> <br /> <br /><strong> </strong><br />Received: 2019-10-09<br />Accepted: 2021-04-04<br /> <br /> <br /> <br />Internal audit is considered as one of the pillars of corporate governance in banks, corporations and organizations. The importance of internal audit in organizations across the world is undeniable. In current research, by using Delphi research methodology and a survey of 156 professional experts in internal auditing, it was tried to identify the internal audit quality criteria, in order to design a suitable model. For this end, based on the literature review and the research background, 29 criteria were identified which were classified in four sections including: a. Competence of internal auditors with eleven criteria; b. Independence of the internal audit department with eight criteria; c. Criteria related to the performance of internal audit work with seven criteria; and d. Other criteria with three criteria. Data were analyzed by utilizing R software with a confirmatory factor analysis model. The results of the study indicate that 19 criteria have been adopted, which provides a model for identification of internal audit quality criteria from the perspective of professional experts.<br /> <br /> <br /> <br /> <br /> <br />* Corresponding author:<br />Jafar Babajani<br />Full Prof of Accounting Department, Faculty of Management & Accounting, Allameh Tabataba'i University, Tehran, Iran,<br /> <br />Email: jafar.babajani@gmail.com<br /> <br /> <br /> <br /> <br /> <br /><strong>1- </strong><strong>Introduction</strong><br />Internal audit has a critical role in managing and conducting the organization's operations. Organizations with an efficient and effective internal audit department can more accurately evaluate the risks of businesses, processes and commercial systems. The internal audit department is so important that, according to the corporate governance model of the American Institute of Internal Auditors, it is listed as one of the four cornerstones of the corporate governance, along with the audit committee, executive manager and independent auditor. In this regard, some researchers, such as Abbott and Carlos, point out that in order to achieve the desired results in a company, the mere existence of an internal audit unit is not enough, but the quality of the internal audit department that plays a critical role (Johl et al., 2013). Therefore, there is a widespread issue in the field of internal audit called "Internal Audit Quality" and various studies and researches have been conducted in this regard.<br /> <br /><strong>2- Research</strong> <strong>Questions</strong><br />The aim of the study is to identify the criteria of internal audit quality from the perspective of professional experts (individuals with experience in the internal audit profession). Therefore, the following questions are proposed:<br /> <br />Which criteria are approved by professional experts to measure internal audit quality?<br />What is the priority (rank) of internal audit quality criteria from the perspective of professional experts?<br /> <br /> <br /><strong>3- Methods</strong><br />In current research, by using Delphi research methodology and a survey of 156 professional experts, it was tried to identify the internal audit quality criteria approved by those experts, in order to design a suitable model for the Iran environment. To this end, based on the literature review and the research background, 29 criteria were identified which were classified in four sections including: a. Competence of internal auditors with eleven criteria; b. Independence of the internal audit department with eight criteria; c. Criteria related to the performance of internal audit work with seven criteria; and d. Other criteria with three criteria. Data were analyzed by utilizing R software with a confirmatory factor analysis model.<br /> <br /><strong>4- Results</strong><br />The results of the study indicate that 19 criteria have been adopted as described below, which provides a model for Identification of Internal Audit Quality Criteria from the view of professional experts. a. Competence of internal auditors: 1. Having professional experience in independent auditing, 2. Having educational programs, 3. Having higher education, 4, 5 & 6. Being familiar with the company's industry, IT and communication skills. b. Independence of the internal audit department: 7. Direct presentation of the internal audit report to the audit committee, 8. Approval of the annual budget of the internal audit department by the audit committee, 9. Approval of the internal audit risk-based program by the audit committee, 10. Appointment and dismissal of the internal audit manager by the audit committee, c. Criteria related to the performance of internal audit work: 11. Having a charter of internal audit activity, 12. Having a risk-based program, 13. Implementing internal audit activities according to a risk-based program, 14. Utilizing a variety of hardware and software (IT), 15. The highest percentage of internal audit recommendations that have been implemented, 16. The existence of an appropriate mechanism to follow up the findings and recommendations of the audit, 17. Evaluation of the performance of the internal audit department by the audit committee, and d. Other criteria: 18. Size of internal audit department and 19. Age of internal audit department.<br /><strong> </strong><br /><strong>5- Conclusion</strong><br />The results of the data analysis indicate that all seven criteria related to the performance of internal audit work were accepted. In this regard, the three criteria of "having a risk-based program", "implementing internal audit activities according to a risk-based program", and "Performance evaluation of the internal audit department by the audit committee" have the highest rank among the 19 internal audit quality criteria that show the importance of these criteria and their fundamental role in providing quality services of internal audit.<br />In the category of "competence", six criteria of the eleven criteria including "Being familiar with IT, communication skills and the company's industry", "having higher education, professional experience in independent auditing and educational programs by internal auditors", which were presented in order of importance, were accepted as criteria for assessing the quality of internal audit. Meanwhile, the five proposed criteria of this class including "having experience in internal audit and financial services", "Being a member of AICPA, Iranian official experts and Internal Auditor Institute" was not accepted. This means that from the perspective of professional experts, these criteria cannot be suitable for evaluation of internal audit quality.<br />It should be noted that two criteria, including "Being familiar with IT and communication skills", with a factor of more than 0.6, are in the first half of the ranking table of the internal audit quality criteria, which indicates the importance of the above criteria.<br />In the category of "independence", four criteria of the eight criteria including "approval of the internal audit risk-based program by the audit committee", "appointment and dismissal of the internal audit manager by the audit committee", "approval of the annual budget of the internal audit department by the audit committee" and "direct presentation of the report of the internal audit department to the audit committee", which were presented in order of importance, were accepted as criteria for evaluating internal audit quality. Hence, four other proposed criteria, including "the less the outsourced activity of the internal audit department to the entire internal audit activity", "the engagement of internal audit staff, only in internal audit work", "not providing assurance services by the internal auditor who has already been responsible for it" and "the absence of restrictions on the access of internal audit department to documents, personnel, assets and resources" was not accepted. This means that, from the perspective of professional experts, these criteria cannot be suitable for evaluating internal audit quality.<br />In relation to the "other criteria" category, the results of the research indicate acceptance of two criteria of the three criteria, including "the age of the internal audit department" and "the size of the internal audit department" as criteria for assessing the quality of the internal audit, but the criterion of "the amount of investment in the internal audit department" was not accepted.حسابرسی داخلی یکی از ارکان حاکمیت (راهبری) شرکتی صحیح در بانک ها، شرکت ها و سازمان ها تلقی می گردد. اهمیت حسابرسی داخلی در سازمان های مختلف در سراسر جهان غیرقابل انکار است لذا در این پژوهش، سعی گردید با بهره گیری از روش تحقیق دلفی و نظرخواهی از تعداد 156 نفر از افراد دارای سابقه در حرفه حسابرسی داخلی، معیارهای سنجش کیفیت حسابرسی داخلی شناسایی شده تا منتج به طراحی مدلی مناسب گردد. در این راستا و بر اساس مطالعه ادبیات و پیشینه تحقیق، تعداد 29 معیار احصاء گردید که در چهار بخش شامل الف. صلاحیت حسابرسان داخلی با یازده معیار؛ ب. استقلال واحد حسابرسی داخلی با هشت معیار؛ ج. معیارهای مرتبط با اجرای عملیات حسابرسی داخلی با هفت معیار؛ و د. سایر معیارها با سه معیار، طبقه بندی شد. داده ها با مدل تحلیل عاملی تأییدی و به کمک نرم افزار R مورد تحلیل قرار گرفت. نتایج تحقیق، حاکی از پذیرفته شدن 19 معیار از معیارهای یاد شده می باشد که مدلی به منظور شناسایی معیارهای سنجش کیفیت حسابرسی داخلی از منظر خبرگان حرفه ای ارائه می نماید.https://jaa.shirazu.ac.ir/article_6074_e37a3d4c1167272db44c25908120ec68.pdfپیشرفتهای حسابداری2008-998812220201221Presented a model for explaining the stock price crash risk with mediating role of agency costارائه مدلی برای تبیین ریسک سقوط قیمت سهام با نقش میانجی هزینه نمایندگی321350596010.22099/jaa.2021.35506.1949FAمحمد مهدیدانشجو دکتری مالی گرایش مهندسی مالی، دانشگاه سیستان و بلوچستان،زاهدان،ایرانزهرا وظیفهاستادیاردانشگاه سیستان و بلوچستان،زاهدان،ایران(نویسنده مسئول)رضا تهرانیاستاد دانشگاه تهران،تهران،ایرانسید مجتبی میرلوحیاستادیار دانشگاه صنعتی شاهرود،شاهرود،ایرانJournal Article20191125<strong>Journal of Accounting Advances, (2020) 12(1):</strong><br />DOI: 10.22099/JAA.2021.35506.1949<br /> <br /> <br /> <br /> <br /> <br /><strong>Journal of Accounting Advances (JAA)</strong><br />Journal homepage: www.jaa.shirazu.ac.ir/?lang=en<br /> <br /> <br /> <br /> <br /> <br /><strong> </strong><br /><strong>Presented Model for Explaining the Stock Price Crash Risk with Mediating Role of Agency Cost</strong><br />Mohamad Mehdi<sup>1</sup>, Zahra Vazife<sup>2</sup>*, Reza Tehrani<sup>3</sup>, Seyed Mojtaba Mirlohi<sup>4</sup><br /><strong> </strong><br /> <br />PhD Candidate in Financial Engineering, University of Sistan and Baluchestan, Zahedan, Iran. mohamadmahdi@pgs.usb.ac.ir<br />Assistant Professor, University of Sistan and Baluchestan, Zahedan, Iran. vazife@mgmt.usb.ac.ir<br />Full Professor, University of Tehran, Tehran, Iran. rtehrani@ut.ac.ir<br />Assistant Professor, Shahroud University of Technology, Shahroud, Iran. mirlohism@shahroodut.ac.ir<br /> <br /> <br /> <br /> <br /> <br /> <br /><strong>ARTICLE INF</strong><br /> <br /> <br /><strong>ABSTRACT</strong><br /> <br /> <br /> <br /> <br /><strong> </strong><br />Received: 2019-11-09<br />Accepted: 2021-01-06<br /> <br /> <br /> <br />The stock price crash risk is always the inhibiting factor to attract liquidity on the capital market. Tehran stock exchange is at a lower level in terms of efficiency. Sudden changes of stock return have been observed. This will lead to liquidity transfer to non–productive markets including the Exchange of exchange and gold. The aim of this paper is to model the stock price crash risk in Tehran stock exchange. In this regard, the effect of factors such as cash management, financial distress, and disclosure quality and board composition were measured in the stock price crash risk. Also, the agency cost is considered as an intermediary variable. The statistical population of the companies listed in Tehran stock exchange is in the period from 1392 to 1396. To test the hypotheses, multivariate linear regression analysis and structural equation method are used. The results of the hypotheses tests show that, apart from the financial distress of other studied variables, the stock price crash risk is effective<br /> <br /> <br /> <br /> <br /> <br />* Corresponding author:<br /> <br />Zahra Vazif<br /> <br />Assistant Professor, University of Sistan and Baluchestan, Zahedan, Iran.<br />Email: vazife@mgmt.usb.ac.ir<br /> <br /> <br /> <br /> <br /> <br /> <br /><strong>1- </strong><strong>Introduction</strong><br />As companies grow up, there is no possibility of all the owners in the company for that purpose. This will cost the agency. In the absence of complete transparency of financial reporting, there will be a chance to exploit managers to hide negative information about the company to maintain their jobs and reputation. If the company has no liquidity, it does not succeed in using short - term investment opportunities. The continuation of this state is accompanied by the falling price of the company's shares and the decline of its value.<br />It is vital to identify the factors affecting stock price crash risk in Tehran Stock Exchange. Because the Iranian capital market is exposed to many dangers due to being a young market. In this model, the quality disclosure quality (risk assessment and corporate information disclosure), board of directors (variables of corporate governance mechanism), the cash flow variable, the cash management variable as predictor variables and agency cost variable (motivational variable and managerial characteristics) are considered as mediating variables.<br /><strong> </strong><br /><strong>2- Hypothesis</strong><br />Research hypotheses are designed as follows.<br />1- Cash management has a significant effect on the stock price crash risk by mediating the role of agency cost.<br />2-The board composition with the mediating role of agency cost has a significant effect on the stock price crash risk.<br />3-The quality of disclosure of information on the role of mediating agency cost has a significant effect on the stock price crash risk.<br />4-The financial disturbances with the mediating role of agency cost has a significant effect on the stock price crash risk.<br /><strong> </strong><br /><strong>3- Methods</strong><br />The present study is applied in terms of purpose, practical research and in terms of data collection method, post - event research method, which is carried out using multivariate regression method and econometric models. The study population studied in this study comprises the companies listed in Tehran Stock Exchange from 1392 to 1396 and the selected sample of the research is companies that have the following set of conditions:<br />1-By the end of 1393, the company’s name is listed in the companies listed in Tehran Stock Exchange. 2-Their financial year ends in March and has not changed during the study. 3- The company did not perform any sorption, consolidation, analysis operations during the study period. 4- The corporate symbol is not off a month or so. 5-The company’s financial information is available during the period. 6-There are no insurance, bank and insurance companies.<br />The present research data were extracted from Tehran Stock Exchange (TSE) and other related bases. The final analysis of the collected data was done by Excel, Matlab, Eviews, smartpls.<br /><strong> </strong><br /><strong>4- Results</strong><br />To reveal the latent variables of research, obvious variables were used. Cash management latent variable (cash adjustment speed, cash surplus), latent variable of the board composition (total number of members, members of duty and non - duty), the latent variable of disclosure of information (reliability, timeliness), the latent variable of the financial distress (loss, negative working capital, the simultaneous existence of negative working capital and loss in the previous year), the latent variable of agency cost (leverage ratio, the ratio of assets, the ratio of assets, and the latent variable stock price crash risk variable (by three factors) was revealed. The results indicate that the composition of the board, cash management and disclosure quality have direct and significant effect on agency cost. This means that the agency cost decreases with increasing board composition, cash management and disclosure quality. But financial distress has no direct and significant effect on agency cost. Also agency cost has a positive and significant effect on stock price crash risk. This means that the higher the agency cost, the stock price crash risk also increases.<br /> <br /><strong>5- Conclusion</strong><br />Optimal management of cash, transparent and proper disclosure of company information, corporate governance (board composition) are among the factors that prevent stock price crash risk. They risk sudden fluctuations in stock returns of companies' stock returns. Market activists and managers are suggested to pay special attention to these factors to witness sudden liquidity of liquidity from the stock market and provide a suitable environment for micro - investors. Market managers are able to reduce the stock price crash risk by setting rules such as increasing transaction transparency, transparency of financial reporting and disclosure of corporate information. Corporate managers also keep the cash flow and optimal value of it at the point of equilibrium and direct their board to no duty- binding members. It also enhances disclosure of information in terms of disclosure quality and timely disclosure, which can control the cost of the agency and manage the stock price crash risk.<br /> <br /><strong>Keywords</strong>: Stock price crash risk, agency cost, cash management, disclosure quality.<br /> <br /> <br /> <br /> <br /><strong>Journal of Accounting Advances, (2020) 12(1): 1-27</strong>ریسک سقوط قیمت سهام همواره عامل بازدارنده جذب نقدینگی در بازار سرمایه میباشد. در بورس اوراق بهادار تهران که ازنظر کارایی در سطح پایینتری قرار دارد، تغییرات ناگهانی بازدهی سهام به کرات مشاهدهشده که باعث انتقال نقدینگی به بازارهای غیر مولد ازجمله بازار ارز و طلا میباشیم. و این امر یکی از دغدغه های اساسی فعالین بازار می باشد. هدف این مقاله مدلسازی ریسک سقوط قیمت سهام در بورس اوراق بهادار تهران است. در این راستا تأثیر عواملی ازجمله مدیریت وجه نقد،آشفتگی مالی، کیفیت افشای اطلاعات و ترکیب هیئتمدیره شرکتها با نقش میانجی هزینه نمایندگی بر ریسک سقوط قیمت سهام سنجیده شد. جامعۀ آماری تحقیق شرکتهای پذیرفتهشده در بورس اوراق بهادار تهران در دورۀ زمانی 1392 الی 1396 میباشد. برای آزمون فرضیههای از تحلیل آماری رگرسیون خطی چند متغیره و روش معادلات ساختاری استفادهشده است. نتایج آزمون فرضیهها نشان میدهد که به جز آشفتگی مالی سایر متغیرهای موردمطالعه با نقشه میانجی هزینه سرمایه بر ریسک سقوط قیمت سهام شرکتها مؤثر میباشد.https://jaa.shirazu.ac.ir/article_5960_717a66e222f1d88e2e23101ef3ce120e.pdfپیشرفتهای حسابداری2008-998812220201221The effect of Neural Knowledge on the Decisions and Risks of the Activities of Management Accountantsتاثیر دانش عصبی بر تصمیمگیریها و ریسک فعالیتهای حسابداران مدیریت351386623510.22099/jaa.2021.39556.2091FAمحمد نمازیاستادممتازحسابداری، دانشگاه شیراز،شیراز،ایران(نویسنده مسئول)0000000203427603حسن اسماعیل پورکارشناس ارشد حسابداری،دانشگاه شیراز،شیراز،ایران0000-0003-0777-3228Journal Article20210121<strong>Journal of Accounting Advances, (2020) 12(1): 1-27</strong><br />DOI: 10.22099/JAA.2021.39556.2091<br /> <br /> <br /> <br /> <br /> <br /><strong>Journal of Accounting Advances (JAA)</strong><br />Journal homepage: www.jaa.shirazu.ac.ir/?lang=en<br /> <br /> <br /> <br /> <br /> <br /><strong> </strong><br /><strong> </strong><br /><strong>The Effect of Neural Knowledge on Decisions and Risks of the Activities of Management Accountants</strong><br />Mohammad Namazi<sup>1</sup>*, Hassan Esmaeilpour<sup>2</sup><br /> <br /> <br />Distinguished Prof. of Accounting, Shiraz University, Shiraz, Iran. mnamazi@rose.shirazu.ac.ir<br />MSc. of Accounting, Shiraz University, Shiraz, Iran. hassan.esmaeilpour1995@yahoo.com<br /> <br /> <br /> <br /> <br /> <br /> <br /><strong>ARTICLE INF</strong><br /> <br /> <br /><strong>ABSTRACT</strong><br /> <br /> <br /> <br /> <br /><strong> </strong><br />Received: 2021-01-20<br />Accepted: 2021-07-17<br /> <br /> <br /> <br />This study, for the first time in Iran, uses neuroscience to generalize neural accounting issues in accounting. More specifically, it examines the impact of the hemispheres on the decision-making activities of management accountants due to the mediating role of activity risk assessment. The research method is descriptive-survey. The statistical population is management accountants working in the Tehran Stock Exchange in 2019. For this purpose, 300 questionnaires were designed and distributed among management accountants. Finally 154 items were analyzed using structural equation modeling (SEM) and partial least squares (PLS) approach. The results showed that the total cerebral hemispheres with 55.3 percent have a positive and significant effect on the various decisions of management accountants. The positive effect of the right hemisphere (77.9 percent) was greater than the left hemisphere (77.1 percent). The effect of information about activity risk, as a mediating variable, on the relationship between the cerebral hemispheres and the decision-making of management accountants is also positive and equal to 92.3 percent. The effect of the right hemisphere on risk (+36.3 percent) is less than the effect of the left hemisphere (+37.4 percent). Also, the effect of risk on different management accountants' decisions is positive and significant (33.7 percent). The left and right hemispheres of the brain together directly explain 8.8 percent of the changes in the decision-making activities of management accountants. Also, the right hemisphere of management accountants posit the greatest impact on marketing and human resource activities, and their left hemisphere has the greatest impact on budgetary and operational activities. These findings can have a considerable impact on the development of theoretical foundations as well as the performance of professional management accountants.<br /> <br /> <br /> <br /> <br /> <br />* Corresponding author:<br />Mohammad Namazi, Distinguished Prof. of Accounting, Shiraz University, Shiraz, Iran<br /> <br />Email:<br />mnamazi@rose.shirazu.ac.ir<br /> <br /> <br /> <br /> <br /><strong>1- Introduction</strong><br />This study, for the first time, uses neuroscience knowledge to examine the effects of the hemispheres on the decision-making activities of management accountants, due to the mediating role of risk assessment of activities, in order to spread the behavioral financial literature, neural finance and behavioral management accounting as well as helping managers with information they need to make decisions. Accordingly, it provides a model for improvement. This model can be applied in practice as well as for future research and academic communities to investigate behavioral and neurological issues in management accounting and accounting.<br /><strong>2- Hypotheses</strong><br />Based on the conceptual model of the research, theoretical foundations, and research background, the following hypotheses are presented:<br />H1: Management accountants' use of cerebral hemispheres maintain different effects on different decisions.<br />Sub-H1: The right hemisphere maintains different effects on different decision-making activities of management accountants.<br />Sub-H2: The left hemisphere maintains different effects on different decision-making activities of management accountants.<br />H2: Assessing the risk of activities as a mediating variable would affect the relationship between the cerebral hemispheres and the different activities of management accountants.<br />Sub-H3: The cerebral hemispheres would affect the activity risk assessment.<br />Sub-H4: The right hemisphere of the brain would affect the risk assessment of activities.<br />Sub-H5: The left hemisphere of the brain would affect the risk assessment of activities.<br />Sub-H6: Activity risk assessment would affect the various decision-making activities of management accountants.<br /> <br /><strong>3- Method</strong><br />This research is a quantitative study that utilizes the scientific method approach, and is based on the predetermined hypotheses and design. This type of research is used when the criteria for measuring data are quantitative and statistical techniques are used to derive the results. In addition, since the data was collected through a questionnaire, this study can be considered a survey research.<br /><strong>4- Results</strong><br />The results showed that the total cerebral hemispheres with 55.3 percent have a positive and significant effect on the various decisions of management accountants. The positive effect of the right hemisphere (77.9 percent) was greater than the left hemisphere (77.1 percent). The effect of information about activity risk, as a mediating variable, on the relationship between the cerebral hemispheres and the decision-making of management accountants is also positive and equal to 92.3 percent. The effect of the right hemisphere on risk (+36.3 percent) is less than the effect of the left hemisphere (+37.4 percent). Also, the effect of risk on different management accountants' decisions is positive and significant (33.7 percent). Furthermore, the right hemisphere of management accountants posits the greatest impact on marketing and human resource activities, and their left hemisphere has the greatest impact on budgetary and operational activities.<br /> <br /><strong>5-Conclusion</strong><br />According to the impact of decisions on the company's profit and loss, this can also explain the possible reasons for the company's profit or loss and even increase or decrease the earnings per share and cash earnings per share of the company. In addition, by introducing risk as a mediating variable, it not only expanded the literature on neural knowledge and behavioral cases in accounting, but also showed relevant empirical evidence in this area.<br /> <br /><strong>Keywords</strong>: Activity Risk Assessment, Behavioral Management Accounting, Management Accountants Decision Making Activities, Brain Hemispheres.<br /> این پژوهش برای اولینبار در ایران از دانش عصبشناسی جهت تعمیم موارد حسابداری عصبی در حسابداری استفاده میکند. به گونه دقیقتر، به بررسی تأثیر نیمکرههای مغز بر فعالیتهای تصمیمگیری حسابداران مدیریت با توجه به نقش میانجی ارزیابی ریسک فعالیتها میپردازد. روش پژوهش توصیفی-پیمایشی از نوع نظرسنجی است. جامعه آماری، حسابداران مدیریت شاغل در بورس اوراق بهادار در سال 1398 است. بدین منظور 300 پرسشنامه طراحی و بین حسابداران مدیریت توزیع شد. در نهایت 154 فقره آن با استفاده از مدلسازی معادلات ساختاری (SEM) و رویکرد حداقل مربعات جزئی (PLS) بررسی گردید. یافتهها نشان داد که نیمکرههای مغزی جمعاً معادل 3/55 درصد بر تصمیمگیریهای مختلف حسابداران مدیریت تأثیر مثبت و معناداری دارند. تأثیر مثبت نیمکره مغزی راست (9/77 درصد) بیشتر از نیمکره مغزی چپ (1/77 درصد) بوده است. تأثیر اطلاعات مربوط به ریسک فعالیتها، به عنوان متغیر میانجی، بر رابطه بین نیمکرههای مغزی و تصمیمگیری حسابداران مدیریت نیز مثبت و برابر 3/92 درصد است. تأثیر نیمکره مغز راست بر ریسک (3/36+ درصد) کمتر از تأثیر نیمکره مغزی چپ (4/37+ درصد) است. همچنین تأثیر ریسک بر تصمیمگیری مختلف حسابداران مدیریت مثبت و معنادار ( 7/33 درصد) است. نیمکرههای مغزی چپ و راست مشترکاً به میزان 8/8 درصد از تغییرات فعالیتهای تصمیمگیری حسابداران مدیریت را به طور مستقیم تبیین میکنند. همچنین، نیمکره مغزی راست حسابداران مدیریت دارای بیشترین تأثیر بر فعالیتهای منابع انسانی و بازاریابی است و نیمکره مغزی چپ آنان دارای بیشترین تأثیر بر فعالیتهای عملیاتی و بودجهای است. این یافتهها میتواند تأثیر بسزایی در گسترش مبانی نظری و همچنین عملکرد حسابدارانhttps://jaa.shirazu.ac.ir/article_6235_f569939f276b4437a0204f7e5b826057.pdf