نوع مقاله : مقاله پژوهشی
نویسندگان
1 استاد گروه حسابداری، دانشگاه اصفهان، اصفهان، ایران
2 استادیار گروه حسابداری، دانشگاه اصفهان، اصفهان، ایران
3 دانشجوی کارشناسی ارشد حسابداری، دانشگاه اصفهان، اصفهان، ایران
چکیده
کلیدواژه‌ها
موضوعات
عنوان مقاله [English]
نویسندگان [English]
According to the research literature, the tone of peer reports, as a strategic signal, shapes the company's view of economic and industry conditions and influences the firm's investment decisions. An optimistic peer tone encourages investment, while a pessimistic peer tone reinforces caution and conservatism. On the other hand, it is assumed that high-quality peer disclosure is associated with a stronger spillover effect of peer tone, and with increasing competition in the industry, the spillover effect of peer tone on firm investment may increase. Therefore, this study aims to determine the effect of peer firms' financial reporting tone on firm investment by considering the moderating role of information disclosure quality and industry competition. The sample of this study consists of 130 listed companies on the Tehran Stock Exchange from 2012 to 2023, and the hypotheses were tested using regression models and panel data. The results of the hypothesis test show that the more optimistic the tone of peer firms' financial reports is, the more the firm invests. This means that the optimistic tone of peers creates a safe environment that shows strong market potential and stability to managers. On the other hand, when peers publish high-quality and transparent financial information, the credibility of their optimistic tone increases and strengthens managers' trust. In addition, in competitive industries, managers may interpret the optimistic tone of peers as a signal of increasing competition, leading to more conservative investment decisions.
کلیدواژه‌ها [English]
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