بررسی تأثیر مالکیت خانوادگی و غیر‌خانوادگی بر محافظه‌کاری در گزارش‌گری مالی شرکت‌های پذیرفته شده در بورس اوراق بهادار تهران

 
Journal of Accounting Advances (J.A.A)
Vol. 6, No. 2, 2014, Ser. 67/3
 
 
Extended Abstract
 
A Study of Family and Non-family Ownership Influence on Conservatism in Listed Companies of Tehran Stock Exchange
 
Dr. Shokrollah Khajavi                                  Ahmad Eshagi
Shiraz University
 
 
Introduction
Financial statements comprise the main part of financial reporting process (Accounting Standard Committee, 1389/2009). Financial reporting goals and accounting foundations require information of financial reporting which has some specific properties (Research Center of Accounting and Auditing, 1385/2005).
Family firm defined as a kind of ownership structure is managed and controlled by one of the family members (Chen et al., 2008). Although family firms and family members’ significant ownership in these films are in vogue, there is a little information about such firms and their reporting (Watts, 2003). As mentioned above, various aspects of family firms’ financial reporting can be useful in stakeholders’ decision making.
 
Research Hypotheses
This research consists of two main hypotheses and four sub hypotheses.
The first main hypothesis: there is a significant difference between conservatism of financial reporting in family firms using non-family CEO and conservatism of financial reporting in non-family firms.
Sub-hypotheses of the first main hypothesis:
1. There is a significant difference between discretionary accruals (non-operational) of family firms using non-family CEO and non-family firms.
2: There is a significant difference between the difference of cash dividend skewness and cash flows of family firms using non-family CEO and non-family firms.
Second main hypothesis: there is a significant difference between conservatism of financial reporting in family firms using family CEO and conservatism of financial reporting in non-family firms.
Sub-hypotheses of the second main hypothesis:
1. There is a significant difference between discretionary accruals (non-operational) of family firms using family CEO and non-family firms.
2: There is a significant difference between the difference of cash dividend skewness and cash flows of family firms using family CEO and non-family firms.
 
Methods
Data research is collected from listed companies of Tehran stock exchange during the period of 1379-1390.
Conservatism is a variable of this research and is explored in family and non-family firms. T-test is used to test research hypotheses.
 
Results
The results of the First sub-hypothesis show that the mean difference P-value is 0.357. So there is no significant difference between discretionary accruals (non operational) of family firms using non-family CEO and non-family firms; hence the first sub-hypothesis is not accepted.
In exploring the second sub-hypothesis the mean difference P-Value of cash dividend skewness and cash flows equals 0.201; hence there is no significant difference and the second sub-hypothesis is not accepted either.
The results of the third sub-hypothesis show that the mean difference P-value equals 0.021 and thereupon there is a significant difference between discretionary accruals of family firms using family CEO and non-family firms wherefore the third sub-hypothesis is accepted.
 
 
Discussion and Conclusion
According to this research results suggest that family firms owners’ employ family CEO to improve financial reporting quality by utilizing more conservatism.