Naser Izadinia Assistant Professor Department of Accounting University of Isfahan,Iran. Dariush Foroghi Assistant Professor
|
|
- Lynn Ford
- 5 years ago
- Views:
Transcription
1 The Effect of Size, Return on Sales,Leverage, Fixed Assets, Industry And Ownership on Effective Tax Rate in the Listed Companies of Tehran Stock Exchange Naser Izadinia Assistant Professor Department of Accounting University of Isfahan,Iran Dariush Foroghi Assistant Professor Department of Accounting University of Isfahan,Iran Setare Soltan Gheis MA Accounting Department of Accounting Mobarakeh Branch, Islamic Azad University, Mobarakeh, Iran Abstract The ministry of economy and finance proposed amendment has prepared after years of work and struggle with the idea of using the tax system for establishing reinforce areas and economic expanding. In this amendment companies tax that has determined by article 131 exponentially, was changed to 25 percent fixed annual profit. Regarding this change; six variable included size, profitability, financial leverage, fixed asset, industry type and ownership structure have chosen in this study and the purpose is determining whether these six variable have any effect on the tax rate or not? Testing the hypothesis, multiple regression model are used based on a sample including 78 company accepted in stock exchange during 2004 to Results are shown that four out of six variable (size, financial leverage, ownership structure and industry type) examined in this study, have affected the tax rate. Keywords: Effect of Size, Return on Sales,Leverage, Fixed Assets, Industry And Ownership, Effective Tax, Rate, Listed Companies, Tehran Stock Exchange 1.Introduction Taxation is one of the most important economic issues in every community. Before the adoption of the amendment, the average tax rate on companies based on Article 131 was about 64%. Calculating method of companies income tax was received by virtue of article 131 of the act as follow: in the beginning 10% of company s taxable income will be received, the rest of it will transfer to the direct tax article 131 table and up to 45% of taxable income will be computed, and also at the time of dividing the profits between shareholders, a double taxation will be deducted. Tax paying in the above mentioned way has led to inefficient economy and shareholders may reduce their liquidity (cash) and investments, so for solving this problem direct tax act has modified and many alternations had occurred on 2002/02/16; including applying a fixed rate equal to 25% and considering the appropriate dispensation but the main issue is monitoring the changes occurred in listed companies in stock exchange in Tehran caused by direct tax act modification in 2002 and the issues that change this flat rate for the companies. 2. Prior Research Now a days, tax as an important payable item by companies, become one of the most important financial issues which its amount is set in the context of tax law. In Iran, in accordance with the article 105 of the direct taxes law, legal entities are obliged to pay 25% of their taxable income to the government. In practice, however, because of some unacceptable costs from the tax viewpoint, effective tax rate is defined as cash ratio of fixed paid tax to the pre-tax income that is higher than the rate that is registered in law, it is clear that with an interval existence between taxable income and companies fixed payable taxes, effective tax rate will be higher. A large volume of literature in accounting and economy is considering real and effective rate of tax. This is the subject of Feldestein and Summers (1979), Fullerton (1984), Stickney and McGee (1982), Gupta and New berry (1997), Lammerson (2002), Plesko (2003), Gordon et al (2002), Lim and Hyun (2006), Dyreng et al (2007) COPY RIGHT 2013 Institute of Interdisciplinary Business Research 523
2 researches. These studies generally considered member of Organization for Economic Co-operation (OEC) and developed countries but the developing countries are less noted. In Iran, however, few research is settled on taxable profit, return on sale profit and fixed tax. These researches have taken place by Ghanbari Fard (1995), Ahadiyan (2000), Hasanpour (2001) and Safiri (2008). The mentioned findings shows some factors effect on the difference between fixed and return on sale profit, including different tax laws interpretation, differences between rules and regulations of principals adopted and accepted by accounting, payers tax evasion, exemption from taxation in legislation and government targets. This study tries to prepare an answer to this question, whether other external factor such as different interpretation of tax laws, differences between rules and regulations of principals adopted and accepted by accounting, payer s tax evasion, exemption from taxation in legislation and taxation targets, internal factors like some financial variable such as size, profitability, financial leverage, amount of fixed assets and nonfinancial variables like ownership structure and industry type have any effect on the effective tax rate or not? 3. RESEARCH METHODOLOGY The present study have tested the research hypotheses by use of regression model and synthetic data (Baltaji, 2005). This study is describing variables state systematically and its nature is cross-correlation and considers the relation between variables by regression analysis presented by Rodrigrz and Hiemen (2010) in the below equation (1-1), (2-1) and (3-1). TAXi= (1) TAX (Tax effective rate): total payable tax divided by total income before tax which is tax effective rate. SIZE (size): the sum of asset s logarithm which is the company s size index. PRO (return on sales): income before deduction of tax divided by total assets which would be profitable. LEV (leverage): total liabilities divided by total assets which is leverage. FIX (Fixed assets): total amount of fixed assets divided by total assets that are fixed assets amount. is i company model error in t year. TAXi= (2) OWNit: I company ownership variable at the end of the year. (3) IDU it : I company s industry variable at the end of t year (in this study the sample companies are classified in 9 industry). 5.Conclusion This research hypothesis results show that the size of a company, fixed assets, ownership type and industry will affect the amount of payable tax and increase or decrease the tax proportionally due to their amount (size). Automotive, pharmaceutical, chemical, machinery, cement, food, metal and tile industries par more tax than others and also companies that have more than 50% ownership of the stock are paying tax more than other companies. These results are achieved in a situation if the tax authorities and auditors acted according to the law and regulations, there will be no factor to affect the payable tax system and show growth or reduction. In this direction psychological factors and the auditors different interpretation about taxable income taxes should be taken to consideration. For instance a company that have more fixed assets is an agent which will affect the auditors and causes to receiving more taxes from the company. COPY RIGHT 2013 Institute of Interdisciplinary Business Research 524
3 References.Ahadiyan; Fatima (2000), consideration of the relationship between taxable income and fixed gains realized by tax auditors, master thesis, Tehran University Aldoun S. Handrikson, Michel F. Vonberda (2006), Accounting theories, Volume 1, Translated by Ali Parsaiyan, Terme Publication Salami, Gholamreza; Taxation in Iran, Accountant, No 10 Safar, Ahmad (2006); review of differences between authorities profits and detection profit realized by tax authorities, Azad University Ghanbari fard, Saied (1995); review of major causes of the differences between income tax and return on sale profit in production companies, master thesis, Tehran Alame Tabatabaie University Mastband zade, Mahdi (2008), effect of running article 272 of direct tax law on listed companies in Tehran stock exchange, Master thesis, Mobarake Azad University Bahl, R.W. and Bird, R.M. (2008), Tax Policy in Developing Countries: Looking back and forward, National Tax Journal, Vol. LXI No. 2,P Feldstein, M. and Summers, L. (1979), Inflation and the Taxation of Capital Income in the Corporate Sector, National Tax Journal, Vol. 32 No. 4, pp Lammersen, L. (2002), The Measurement of Effective Tax Rates: Common Themes in Business Management and Economics, Centre for European Economic Research, Mannheim. Lim, B.I. and Hyun, J.K. (2006), Comparative Analysis of the Effective Income Tax Function : Empirical Evidence Using LIS data, Applied Economics Letters, Vol. 13, pp Stickney, C.P. and McGee, V.E. (1982), Effective Corporate Tax Rates the Effect of Size, Capital Intensity, Leverage, and other factors, Journal of Accounting &Public Policy, Vol. 1, pp Wu, L Wang, Y., Gillis, P. and Wei, L. (2008a), State ownership, Tax Status, and size effect of effective tax rate in China, working paper, Peking COPY RIGHT 2013 Institute of Interdisciplinary Business Research 525
4 Table (1): Summary of achieved results of regression model 1 Basis width way Size SIZE Profitability PRO Financial leverage LEV Fixed assets FIX R determination coefficient 0.88 F Statistics Glass statistics- Watson 1.87 F probability statistics Table (2): Summary of achieved results of regression model 2 Basis width way Size SIZE Profitability PRO Financial leverage LEV Fixed assets FIX Ownership structure OWN R determination coefficient 0.48 F Statistics Glass statistics- Watson 1.71 F probability statistics Table (3): Summary of achieved results of regression model 3 Basis width way Size SIZE Profitability PRO Financial leverage LEV Fixed assets FIX Ownership structure OWN Automotive industry IDU Pharmaceutical industry IDU Chemical industry IDU Machinery industry IDU Cement industry IDU Food industry IDU Metal industry IDU Tile industry IDU Other industry IDU R determination coefficient F Statistics Glass statistics- Watson 1.64 F probability statistics COPY RIGHT 2013 Institute of Interdisciplinary Business Research 526
5 Table (4): Test results of research hypothesis Hypothesis No Description Result 1 Presence of a relation between company size and effective tax rate of the Approved listed 2 Presence of a relation between profitability and effective tax rate of the listed Unapproved 3 Presence of a relation between financial leverage and effective tax rate of the Unapproved listed 4 Presence of a relation between fixed assets and effective tax rate of the listed Approved 5 Presence of a relation between ownership structure and effective tax rate of Approved the listed 6 Presence of a relation between industry and effective tax rate of the listed Approved COPY RIGHT 2013 Institute of Interdisciplinary Business Research 527
The Effective Factors in Abnormal Error of Earnings Forecast-In Case of Iran
The Effective Factors in Abnormal Error of Earnings Forecast-In Case of Iran Hamid Rasekhi Supreme Audit Curt of Mashhad, Iran Alireza Azarberahman (Corresponding author) Dept. of Accounting, Islamic Azad
More informationThe Examination of Effective Factors on Financial Leverage of the Companies Subjected to Article 44 Listed in Tehran Stock Exchange
International Research Journal of Management Sciences. Vol., 2 (6), 180-186, 2014 Available online at http://www.irjmsjournal.com ISSN 2147-964x 2014 The Examination of Effective Factors on Financial Leverage
More informationInvestigate the Relationship Between Earnings Management incentives and Earnings Response Coefficient
Investigate the Relationship Between Earnings Management incentives and Earnings Response Coefficient 1-Seyd Fakhrodin Khamesi Hamane, Department of Accounting, Yazd Science and Research Branch, Islamic
More informationThe relationship between the restated financial statements and the independent auditor using logit model in the Tehran Stock Exchange
The relationship between the restated financial statements and the independent auditor using logit model in the Tehran Stock Exchange Hamidreza Alamdar *, Dr. Issa Heidari ** * Department of Accounting,
More informationijcrb.webs.com INTERDISCIPLINARY JOURNAL OF CONTEMPORARY RESEARCH IN BUSINESS MAY 2014 VOL 6, NO 1
Relationship Between Earnings Management Incentives and Cash Flow 1-Seyd Fakhrodin Khamesi Hamane, Department of Accounting, Yazd Science and Research Branch, Islamic Azad University, Yazd, Iran. 2- Saeed
More informationThe Effect of Economic Factors and Firm Characteristics on the Capital Structure of Listed Companies in Tehran Stock Exchange (TSE)
Journal of Financial Accounting Research 1 The Effect of Economic Factors and Firm Characteristics on the Capital Structure of Listed Companies in Tehran Stock Exchange (TSE) R. Hejazi* Associate Professor
More informationThe Effect of Financing Methods on the Profitability Level of Food Industry Companies Quoted in Tehran Stock Exchange
Vol. 4, No.3, July 2014, pp. 36 40 E-ISSN: 2225-8329, P-ISSN: 2308-0337 2014 HRMARS www.hrmars.com The Effect of Financing Methods on the Profitability Level of Food Industry Companies Quoted in Tehran
More informationDoes cost of common equity capital effect on financial decisions? Case study companies listed in Tehran Stock Exchange
Does cost of common equity capital effect on financial decisions? Case study companies listed in Tehran Stock Exchange Anna Ghasemzadeh * Department of accounting, Bandar Abbas Branch, Islamic Azad University,
More informationThe effect of firm s performance on the stock liquidity (Empirical evidence: Tehran Stock Exchange)
Available online at www.scinzer.com Scinzer Journal of Accounting and Management, Vol 2, Issue 4, (2016): 11-15 DOI: 10.21634/SJAM.2.4.1115 ISSN 2415-1017 The effect of firm s performance on the stock
More informationThe Relationship between Cash Holdings and the Quality of Internal Control over Financial Reporting of Listed Companies in Tehran Stock Exchange
Journal of Accounting, Financial and Economic Sciences. Vol., 2 (3), 142-147, 2016 Available online at http://www.jafesjournal.com ISSN 2149-7346 2016 The Relationship between Cash Holdings and the Quality
More informationThe Relationship between Ownership Structure and Risk Management: Evidence from Iran
The Relationship between Ownership Structure and Risk Management: Evidence from Iran Sheyda Lotfi Department of Accounting, Kurdistan Science and Research Branch, Islamic Azad University, Sanandaj, Iran
More informationThe effect of dividend policy on stock price volatility and
European Online Journal of Natural and Social Sciences 2013; vol.2, No. 3(s), pp. 51-59 ISSN 1805-3602 www.european-science.com The effect of dividend policy on stock price volatility and investment decisions
More informationA Survey of the Relation between Tobin's Q with Earnings Forecast Error and Economic Value Added in TSE
AENSI Journals Advances in Environmental Biology Journal home page: http://www.aensiweb.com/aeb.html A Survey of the Relation between Tobin's Q with Earnings Forecast Error and Economic Value Added in
More informationYAZDANI SHIRI. University, Qeshm, Iran b PhD student in Human Resource Management, Yasouj
THE RELATIONSHIP BETWEEN ECONOMIC VALUE ADDED (EVA) WITH EARNINGS PER SHARE AND STOCK PRICE ON TEHRAN STOCK EXCHANGE (CERAMIC, TILE AND CEMENT INDUSTRIES) a ABOOTALEB YAZDANI SHIRI, YAZDANI SHIRI b ABDOLKHALEGH
More informationInvestigating the Effect of Capital Structure and Growth Opportunities on Earnings Management
Investigating the Effect of Capital Structure and Growth Opportunities on Earnings Management Mahmoud Nozarpour 1 Department of Accounting, Persian Gulf International Branch, Islamic Azad University, Khorramshahr,
More informationSTUDYING THE RELATIONSHIP BETWEEN COMPANY LIFE CYCLE AND COST OF EQUITY
Kuwa Chapter of Arabian Journal of Business Management Review www.arabianjbmr.com STUDYING THE RELATIONSHIP BETWEEN COMPANY LIFE CYCLE AND COST OF EQUITY Hossein Karvan M.A. Student of Accounting, Islamic
More informationA Study of the Factors Affecting Earnings Management: Iranian Overview
A Study of the Factors Affecting Earnings Management: Iranian Overview Farzaneh Nassirzadeh Assistant professor, Accounting Department, Ferdowsi University of Mashhad, Iran Mahdi salehi (Corresponding
More informationQuality of Financial Information and stock liquidation
Quality of Financial Information and stock liquidation Heydar Mohamad Zade Salte Department of Accounting, Islamic Azad University, Tabriz, Iran. Mohammad Reza Bagherlo Department of Accounting, Islamic
More informationThe Effect of Credit Risk on Profitability and Liquidity in Tehran Stock Exchange Banking Industry
The Effect of Credit Risk on Profitability and Liquidity in Tehran Stock Exchange Banking Industry Salman Salmani Deprtment of Management, Naragh Branch, Islamic Azad University, Naragh, Iran Seyed Mohammad
More informationASSET GROWTH OR LIQUIDITY?
ASSET GROWTH OR LIQUIDITY? Seyed Hossein Raad * M. A, Student of Accounting, Branch-Islamic Azad University of Khuzestan, Iran Mohammad Ramezan Ahmadi Accounting Department Branch-Islamic Azad University
More informationEstimate the profitability of accepted companies in Tehran Stock Exchange: Because of the relative position (ROE) of the companies industry
International Journal of Applied Operational Research Vol. 6, No. 1, pp. 41-49, Winter 2016 Journal homepage: ijorlu.liau.ac.ir Estimate the profitability of accepted companies in Tehran Stock Exchange:
More informationInvestigation of the relationship between ownership structure and cost of equity in companies listed on the Tehran Stock Exchange
Original Article Print ISSN: 2321-6379 Online ISSN: 2321-595X DOI: 10.17354/ijssSI/2017/6 Specialty: Humanities Investigation of the relationship between ownership structure and cost of equity in companies
More informationTHE IMPACT OF EARNINGS MANAGEMENT INCENTIVES ON EARNINGS RESPONSE COEFFICIENTS OF COMPANIES
THE IMPACT OF EARNINGS MANAGEMENT INCENTIVES ON EARNINGS RESPONSE COEFFICIENTS OF COMPANIES *Hossein Ashrafi Soltan Ahmadi 1 and Faramarz Kazemi Hasirchi 2 1 Department of Accounting, Payame Noor University,
More informationFatemeh Arasteh. Department of Accounting, Science and Research Branch, Islamic Azad University, Guilan, Iran. (Corresponding Author)
The study of relationship between capital structure, firm growth and financial strength with Financial leverage of the company listed in Tehran Stock Exchange Fatemeh Arasteh Department of Accounting,
More informationThe Study of Cash Conversion Cycle effects on Return On Asset (ROA)
The Study of Cash Conversion Cycle effects on Return On Asset (ROA) Kawa qaderi Master of Accounting, University of Payamnoor, Iran Tekosh.gh@gmail.com Abstract The purpose of this study is to investigate
More informationA STUDY OF RELATIONSHIP BETWEEN ACCRUALS OVER LIFE CYCLES OF LISTED FIRMS IN TEHRAN STOCK EXCHANGE
A STUDY OF RELATIONSHIP BETWEEN ACCRUALS OVER LIFE CYCLES OF LISTED FIRMS IN TEHRAN STOCK EXCHANGE Mahmood Moein Addin 1, Vahideh Jouyban 2 1 Corresponding Author: Assistant Professor, Department of Accounting,
More informationTHE STUDY OF RELATIONSHIP BETWEEN UNEXPECTED PROFIT AND SHARES RETURN IN ACCEPTED COMPANIES LISTED IN TEHRAN STOCK EXCHANGE
: 953-963 ISSN: 2277 4998 THE STUDY O RELATIONSHIP BETWEEN UNEXPECTED PROIT AND SHARES RETURN IN ACCEPTED COMPANIES LISTED IN TEHRAN STOCK EXCHANGE HOUSHANG SHAJARI * AND ATEMEH KHAKINAHAD 2 : Department
More informationThe Relationship between the Ability to Manage and Efficiency, Economic and Market Value of Companies Listed on the Tehran Stock Exchange
Journal of Accounting, Financial and Economic Sciences. Vol., 2 (4), 240-245, 2016 Available online at http://www.jafesjournal.com ISSN 2149-7346 2016 The Relationship between the Ability to Manage and
More informationEffect of Earnings Growth Strategy on Earnings Response Coefficient and Earnings Sustainability
European Online Journal of Natural and Social Sciences 2015; www.european-science.com Vol.4, No.1 Special Issue on New Dimensions in Economics, Accounting and Management ISSN 1805-3602 Effect of Earnings
More informationThe relationship between pay policy dividends and earnings quality firms
International Research Journal of Applied and Basic Sciences 2014 Available online at www.irjabs.com ISSN 2251-838X / Vol, 8 (6): 667-674 Science Explorer Publications The relationship between pay policy
More informationExamining the relationship between growth and value stock and liquidity in Tehran Stock Exchange
www.engineerspress.com ISSN: 2307-3071 Year: 2013 Volume: 01 Issue: 13 Pages: 193-205 Examining the relationship between growth and value stock and liquidity in Tehran Stock Exchange Mehdi Meshki 1, Mahmoud
More informationINTERNATIONAL JOURNAL OF HUMANITIES AND CULTURAL STUDIES ISSN
An Investigation of the Role of Financial Reporting Quality in Relation to Reducing the Impact of Dividend Policy Imposed on Investment Decisions (Accepted Companies in Tehran s Stock Exchange) * Amin
More informationThe Effect of Free Cash Flow-based Agency Costs on Dividends in Companies Listed on the Tehran Stock Exchange (TSE)
The Effect of Free Cash Flow-based Agency Costs on Dividends in Companies Listed on the Tehran Stock Exchange (TSE) 1 Abbas Rostamlu 2 Reza Pirayesh 3 Kazem Hasani Abbas Rostamlu, Master of Accounting,
More informationThe Investigation of Relationship between Structure of Assets and the Performance of Firms Evidence from Tehran Stock Exchange
Research article The Investigation of Relationship between Structure of Assets and the Performance of Firms Evidence from Tehran Stock Exchange Claudio Sattoriva 1 Akbar Javadian Kootanaee 2 Jalal Seyyedi
More informationExamination of Fama-French Five-Factor Model by inclusion of corporate variables
Examination of Fama-French Five-Factor Model by inclusion of corporate variables Ali Asghar Anvary Rostamy Professor of Finance, Tarbiat Modares University, Tehran, Iran Shahla Rowshandel Phd Candidate
More informationInvestigating the Relationship between Tax Avoidance and Debt in Corporates
Investigating the Relationship between Tax Avoidance and Debt in Corporates Dr. Farzin Rezaei 1, Javad Rezazadeh 2 and Esmaeil Moradi 3,* 1 Assistant Professor, Islamic Azad University, Qazvin Branch 2
More informationThe Effect of Cash Dividend on Future Share Prices of Financial Institutions Listed on Tehran Stock Exchange ( )
European Online Journal of Natural and Social Sciences 2015; www.european-science.com Vol.4, No.1 Special Issue on New Dimensions in Economics, Accounting and Management ISSN 1805-3602 The Effect of Cash
More informationThe Relationship between Accounting Conservatism and Stock Price Crash Risk
Journal of Accounting, Financial and Economic Sciences. Vol., 2 (3), 152-158, 216 Available online at http://www.jafesjournal.com ISSN 2149-7346 216 The Relationship between Accounting Conservatism and
More informationINVESTIGATING THE EFFECT OF FINANCIAL LEVERAGE AND FIRM SIZE ON THE RANK OF SHARE LIQUIDITY FOR COMPANIES LISTED ON TEHRAN STOCK EXCHANGE
INVESTIGATING THE EFFECT OF FINANCIAL LEVERAGE AND FIRM SIZE ON THE RANK OF SHARE LIQUIDITY FOR COMPANIES LISTED ON TEHRAN STOCK EXCHANGE HAMIDREZA VAKILIFARD, PHD. 1 GHOLAMREZA ASKARZADEH 2 Faculty member
More informationInvestigation the effect of ownership structure, financial leverage, profitability and Investment Opportunity on Dividend Policy
Investigation the effect of ownership structure, financial leverage, profitability and Investment Opportunity on Dividend Policy Leila Heidary Mohamadi 1, Houshang Amiri 2 1. 2. Department of Accounting,
More informationCorporate Governance Attributes, Audit Quality and Financial Discourser Quality: Case of Tehran Stock Exchange
2013, TextRoad Publication ISSN 2090-4304 Journal of Basic and Applied Scientific Research www.textroad.com Corporate Governance Attributes, Audit Quality and Financial Discourser Quality: Case of Tehran
More informationEXAMINING THE RELATIONSHIP BETWEEN CORPORATE SOCIAL RESPONSIBILITY AND STOCK PRICE CRASH RISK OF COMPANIES LISTED IN TEHRAN STOCK EXCHANGE
EXAMINING THE RELATIONSHIP BETWEEN CORPORATE SOCIAL RESPONSIBILITY AND STOCK PRICE CRASH RISK OF COMPANIES LISTED IN TEHRAN STOCK EXCHANGE Dariush Heidari and *Reza Fallah Department of Accounting, Ayatollah
More informationThe Impact of Capital Structure and Ownership Structure on Firm Performance: A Case Study of Iranian Companies
Research Journal of Applied Sciences, Engineering and Technology 6(22): 4265-4270, 2013 ISSN: 2040-7459; e-issn: 2040-7467 Maxwell Scientific Organization, 2013 Submitted: March 05, 2013 Accepted: March
More informationMohammad Kachooli 1, Zohreh Hajiha 2*, Abbas Ali Hagh Parast 3
Journal of Accounting, Financial and Economic Sciences. Vol., 2 (4), 246-251, 2016 Available online at http://www.jafesjournal.com ISSN 2149-7346 2016 The Relationship between the Ability to Manage and
More informationManagement Science Letters
Management Science Letters 2 (2012) 2625 2630 Contents lists available at GrowingScience Management Science Letters homepage: www.growingscience.com/msl The impact of working capital and financial structure
More informationOn The Relation between Information Asymmetry and Real Earnings Management in Listed Companies on Tehran Stock Exchange
Journal of Financial Accounting Research 1 On The Relation between Information Asymmetry and Real Earnings Management in Listed Companies on Tehran Stock Exchange A. Ahmadpour * Full professor of Accounting,
More informationThe relationship between the measures of working capital and economic value added (EVA) a case study of companies listed on the Tehran Stock Exchange
The relationship between the measures of working capital and economic value added (EVA) a case study of companies listed on the Tehran Stock Exchange Amir Mosazadeh * Department of Accounting, Germi Branch,
More informationThe mathematical model of portfolio optimal size (Tehran exchange market)
WALIA journal 3(S2): 58-62, 205 Available online at www.waliaj.com ISSN 026-386 205 WALIA The mathematical model of portfolio optimal size (Tehran exchange market) Farhad Savabi * Assistant Professor of
More informationThe effects of financial and non-financial variables on financial information and investment efficiency in Tehran bourse
The effects of financial and non-financial variables on financial information and investment efficiency in Tehran bourse A. Reza Hadi Ghanavat 1, Mohammad Khodamoradi 2 2. 1. Department of Accounting,
More informationAudit Report Lag and Auditor Change: Evidence from Iran
2012, TextRoad Publication ISSN 2090-4304 Journal of Basic and Applied Scientific Research www.textroad.com Audit Report Lag and Auditor Change: Evidence from Iran Bahman Banimahd, Mehdi Moradzadehfard,
More informationInformation disclosure quality and Earnings Management Evidence from Tehran Stock Exchange
Information disclosure quality and Earnings Management Evidence from Tehran Stock Exchange Fereydoun Ohadi 1, Tahmineh Shamsjahan 1 * 1 Department of Management and Economy,Sciences & Research Branch,
More informationEVALUATION OF ABNORMAL RETURNS FROM ANNUAL PROFIT ANNOUNCEMENT IN TERMS OF THE CAPITAL MARKET BOOM AND RECESSION
EVALUATION OF ABNORMAL RETURNS FROM ANNUAL PROFIT ANNOUNCEMENT IN TERMS OF THE CAPITAL MARKET BOOM AND RECESSION Mohamed Hassan Janani 1 and * Sabah Saifolahy 2 1 Deprtment of Accounting, Tehran Branch,
More informationManagement Science Letters
Management Science Letters 4 (2014) 2139 2144 Contents lists available at GrowingScience Management Science Letters homepage: www.growingscience.com/msl Measuring financial performance using new liquidity
More informationThe Effect of Working Capital Strategies on Performance Evaluation Criteria
Asian Social Science; Vol. 11, No. 23; 2015 ISSN 1911-2017 E-ISSN 1911-2025 Published by Canadian Center of Science and Education The Effect of Working Capital Strategies on Performance Evaluation Criteria
More informationSurveying Different Stages of Company Life Cycle on Capital Structure (Case Study: Production companies listed in Tehran stock exchange)
International Journal of Basic Sciences & Applied Research. Vol., 3 (10), 721-725, 2014 Available online at http://www.isicenter.org ISSN 2147-3749 2014 Surveying Different Stages of Company Life Cycle
More informationAc. J. Acco. Eco. Res. Vol. 3, Issue 5, , 2014 ISSN:
2014, World of Researches Publication Ac. J. Acco. Eco. Res. Vol. 3, Issue 5, 479-487, 2014 ISSN: 2333-0783 Academic Journal of Accounting and Economics Researches www.worldofresearches.com The Investigate
More informationA study on the Relationship between Financial Flexibility and Cash Policies of Listed Companies in Tehran Stock Exchange
J. Appl. Environ. Biol. Sci., 5(7)138-143, 2015 2015, TextRoad Publication ISSN: 2090-4274 Journal of Applied Environmental and Biological Sciences www.textroad.com A study on the Relationship between
More informationSensitivity of Cash Flow of Investment and Cost of Capital on Conservatism. Received: ; Accepted:
Cumhuriyet Üniversitesi Fen Fakültesi Fen Bilimleri Dergisi (CFD), Cilt:36, No: 4 Özel Sayı (2015) ISSN: 1300-1949 Cumhuriyet University Faculty of Science Science Journal (CSJ), Vol. 36, No: 4 Special
More informationAuthor for Correspondence
AN INVESTIGATION INTO THE RELATIONSHIP BETWEEN AUDITOR INDUSTRY SPECIALIZATION AND LENGTH OF AUDITOR TENURE, AND EARNINGS MANAGEMENT IN THE FIRMS LISTED IN TEHRAN STOCK EXCHANGE Khorshid Karimi 1 and *
More informationAc. J. Acco. Eco. Res. Vol. 3, Issue 2, , 2014 ISSN:
2014, World of Researches Publication Ac. J. Acco. Eco. Res. Vol. 3, Issue 2, 118-128, 2014 ISSN: 2333-0783 Academic Journal of Accounting and Economics Researches www.worldofresearches.com Influence of
More informationStudying the effect of increase of capital on the traditional and modern financial criteria in the companies listed in Tehran Stock Exchange
Available online at www.scinzer.com Scinzer Journal of Accounting and Management, Vol 2, Issue 4, (2016): 38-43 DOI: 10.21634/SJAM.2.4.3843 ISSN 2415-1017 Studying the effect of increase of capital on
More informationSTUDYING INFLUENCE OF SMOOTHING PROFIT ON BANK LOAN EXPENSES IN ACCEPTED COMPANIES IN TEHRAN STOCK EXCHANGE
STUDYING INFLUENCE OF SMOOTHING PROFIT ON BANK LOAN EXPENSES IN ACCEPTED COMPANIES IN TEHRAN STOCK EXCHANGE *Masoumeh Farokhi Namin 1 and Leila Farokhi Naming 2 1 Sarein Branch, Islamic Azad University,
More informationA Study on the Relationship between Financial Performance and Credit Risk: A Case Study of Maskan Bank Iran
ORIGINAL ARTICLE Received 9 July. 2015 Accepted 29 July. 2015 Vol. 4, Issue 3, 126-130, 2015 Academic Journal of Accounting and Economic Researches ISSN: 2333-0783 (Online) ISSN: 2375-7493 (Print) jeslm.worldofresearches.cm
More informationA Study of Relationship between Accruals and Managerial Operating Decisions over Firm Life Cycle among Listed Firms in Tehran Stock Exchange
A Study of Relationship between Accruals and Managerial Operating Decisions over Firm Life Cycle among Listed Firms in Tehran Stock Exchange Vahideh Jouyban Young Researchers Club, Borujerd Branch, Islamic
More informationA Study of the Relationship between Dividend Policies and Future Growth: Iranian Evidence
Zagreb International Review of Economics & Business, Vol. 15, No. 2, pp. 15-28, 2012 2012 Economics Faculty Zagreb All rights reserved. Printed in Croatia ISSN 1331-5609; UDC: 33+65 A Study of the Relationship
More informationJ. Life Sci. Biomed. 4(1): 57-63, , Scienceline Publication ISSN
ORIGINAL ARTICLE Received 11 Sep. 2013 Accepted 28Nov. 2013 JLSB Journal of J. Life Sci. Biomed. 4(1): 57-63, 2014 2014, Scienceline Publication Life Science and Biomedicine ISSN 2251-9939 Relationship
More informationThe Impact of Capital Structure on Banks Performance: A Case Study of Iran
J. Appl. Environ. Biol. Sci., 5(8S)112-119, 2015 2015, TextRoad Publication ISSN: 2090-4274 Journal of Applied Environmental and Biological Sciences www.textroad.com The Impact of Capital Structure on
More informationTHE IMPACT OF INSTITUTIONAL OWNERSHIPAND MANAGERIAL OWNERSHIP, ON THE RELATIONSHIPBETWEEN FREE CASH FLOW AND ASSET UTILIZATION
THE IMPACT OF INSTITUTIONAL OWNERSHIPAND MANAGERIAL OWNERSHIP, ON THE RELATIONSHIPBETWEEN FREE CASH FLOW AND ASSET UTILIZATION * Fatemeh Taheri 1, Seyyed Yahya Asadollahi 2, Malek Niazian 3 1 Department
More informationINVESTIGATING THE EFFICACY OF BASU S DIFFERENTIAL TIMELINESS MODEL IN EVALUATING CONSERVATISM
INVESTIGATING THE EFFICACY OF BASU S DIFFERENTIAL TIMELINESS MODEL IN EVALUATING CONSERVATISM *Majid Azemi and Mohammad Nasiri Mohammadabadi Department of Accounting, Islamic Azad University, Mobarakeh
More informationINVESTIGATING THE RELATIONSHIP BETWEEN INSTITUTIONAL OWNERSHIP WITH FINANCIAL POLICIES AND PERFORMANCE OF LISTED COMPANIES IN TEHRAN STOCK EXCHANGE
INVESTIGATING THE RELATIONSHIP BETWEEN INSTITUTIONAL OWNERSHIP WITH INANCIAL POLICIES AND PERORMANCE O LISTED COMPANIES IN TEHRAN STOCK EXCHANGE Shohreh Heydari 1, Seyedeh atemeh Mir Razeghi 2, Armin Sharifi
More informationValue Relevance (VR), Earnings Management and Corporate Governance System
Value Relevance (VR), Earnings Management and Corporate Governance System Reza Dowlatabadi Department of Accounting, Sabzevar Branch, Islamic Azad University Sabzevar Branch, Iran Mahdi Filsaraei (Corresponding
More informationJournal of Applied Science and Agriculture
AENSI Journals Journal of Applied Science and Agriculture ISSN 1816-9112 Journal home page: www.aensiweb.com/jasa/index.html Investigating the Relation of Independence of Boards of Directors with Earning:
More informationRelationship between Business Cycles and Financial Criteria of Performance Appraisal in Companies Listed in Tehran Stock Exchange
Relationship between Business Cycles and Financial Criteria of Performance Appraisal in Companies Listed in Tehran Stock Exchange Naser Yazdanifar Master of Accounting (Corresponding Author) Department
More informationAnalysis of influence of financial leverage on returns and risks of companies listed in the Tehran Stock Exchange during 2009 to 2014
WALIA journal 31(S7): 16-22, 2015 Available online at www.waliaj.com ISSN 1026-3861 2015 WALIA Analysis of influence of financial leverage on returns and risks of companies listed in the Tehran Stock Exchange
More informationInternational Review of Management and Marketing ISSN: available at http:
International Review of Management and Marketing ISSN: 2146-4405 available at http: www.econjournals.com International Review of Management and Marketing, 2017, 7(1), 85-89. Investigating the Effects of
More informationManagement Science Letters
Management Science Letters 3 (2013) 2039 2048 Contents lists available at GrowingScience Management Science Letters homepage: www.growingscience.com/msl A study on relationship between investment opportunities
More informationJ. Appl. Environ. Biol. Sci., 4(2s)74-79, , TextRoad Publication
J. Appl. Environ. Biol. Sci., 4(2s)74-79, 2014 2014, TextRoad Publication ISSN: 2090-4274 Journal of Applied Environmental and Biological Sciences www.textroad.com The Relationship between Profit Forecasting
More informationTax Policy, Firm Size and Effective Tax Rates: Empirical Evidence from Quantile Regression. Yao-Chih Hsieh *
INTERNATIONAL JOURNAL OF ECONOMICS Volume 5 Number 2 December 2011 pp. 227-234 Tax Policy, Firm Size and Effective Tax Rates: Empirical Evidence from Quantile Regression Yao-Chih Hsieh * In order to promote
More informationProcedia - Social and Behavioral Sciences 205 ( 2015 ) th World conference on Psychology Counseling and Guidance, May 2015
Available online at www.sciencedirect.com ScienceDirect Procedia - Social and Behavioral Sciences 205 ( 2015 ) 499 504 6th World conference on Psychology Counseling and Guidance, 14-16 May 2015 The Relationship
More informationEarnings Quality Determinants of the Jordanian Manufacturing Listed Companies
International Journal of Economics and Finance; Vol. 7, No. 5; 2015 ISSN 1916-971X E-ISSN 1916-9728 Published by Canadian Center of Science and Education Earnings Quality Determinants of the Jordanian
More informationStudying the Opportunity Investment set and financial analysis of the value of listed companies in Tehran Stock Exchange
ORIGINAL ARTICLE Received 18 April. 2015 Accepted 1 June. 2015 Vol. 4, Issue 3, 92-101, 2015 Academic Journal of Accounting and Economic Researches ISSN: 2333-0783 (Online) ISSN: 2375-7493 (Print) jeslm.worldofresearches.cm
More informationA STUDY OF THE RELATIONSHIP BETWEEN THE FINANCIAL AND NON-FINANCIAL VARIABLES, AND THE SYSTEMATIC RISK IN FIRMS LISTED IN TEHRAN STOCK EXCHANGE
ISSN : 0976-2876 (Print) ISSN : 2250-0138 (Online) A STUDY OF THE RELATIONSHIP BETWEEN THE FINANCIAL AND NON-FINANCIAL VARIABLES, AND THE SYSTEMATIC RISK IN FIRMS LISTED IN TEHRAN STOCK EXCHANGE ALI LALBAR
More informationSTUDYING THE IMPACT OF FINANCIAL RESTATEMENTS ON SYSTEMATIC AND UNSYSTEMATIC RISK OF ACCEPTED PLANTS IN TEHRAN STOCK EXCHANGE
STUDYING THE IMPACT OF FINANCIAL RESTATEMENTS ON SYSTEMATIC AND UNSYSTEMATIC RISK OF ACCEPTED PLANTS IN TEHRAN STOCK EXCHANGE Davood Sadeghi and Seyed Samad Hashemi Department of Accounting Management,
More informationConcentration of Ownership in Iranian Listed Firms
Concentration of Ownership in Iranian Listed Firms Meysam Foroughi and Masood Fooladi Abstract An important mechanism to monitor the firm s activities and assure investors to get an appropriate return
More informationEvaluating the Relationship between Economic Value Added and Capital Structure in Companies Listed at Tehran Stock Exchange
ORIGINAL ARTICLE Received 13 Jun. 2014 Accepted 21 Sep. 2014 2014, Science-Line Publication www.science-line.com ISSN: 2322-4770 Journal of Educational and Management Studies J. Educ. Manage. Stud., 4(4):
More informationThe effect of corporate disclosure policy on risk assessment and market value: Evidence from Tehran Stock Exchange
Management Science Letters 5 (2015) 481 486 Contents lists available at GrowingScience Management Science Letters homepage: www.growingscience.com/msl The effect of corporate disclosure policy on risk
More informationThe Effect of Free Float on Cost of Equity Capital in the Companies Listed in Tehran Stock Exchange
International Journal of Basic Sciences & Applied Research. Vol., 2 (6), 635-639, 2013 Available online at http://www.isicenter.org ISSN 2147-3749 2013 VictorQuest Publications The Effect of Free Float
More informationThe relation between financial flexibility and financial performance with the ratio of book value to market value in Tehran listed firms
Journal of Scientific Research and Development 2 (2): 216-222, 2015 Available online at www.jsrad.org ISSN 1115-7569 2015 JSRAD The relation between financial flexibility and financial performance with
More informationAnalytical Study of the Effect of Dividend Policy and Financing Policy on Market Value-Added in Tehran Stock Exchange
Analytical Study of the Effect of Dividend Policy and Financing Policy on Market Value-Added in Tehran Stock Exchange Karim RezvaniRaz 1, Ghasem Rekabdar 2 1. Department of Accounting, Khorramshahr branch,
More informationEvaluating the Relationship between Economic Values Added and Stock Return in Companies Listed at Tehran Stock Exchange
2013, TextRoad Publication ISSN 2090-4304 Journal of Basic and Applied Scientific Research www.textroad.com Evaluating the Relationship between Economic Values Added and Stock Return in Companies Listed
More informationThe Relationship between Earning, Dividend, Stock Price and Stock Return: Evidence from Iranian Companies
20 International Conference on Humanities, Society and Culture IPEDR Vol.20 (20) (20) IACSIT Press, Singapore The Relationship between Earning, Dividend, Stock Price and Stock Return: Evidence from Iranian
More informationRelationship between Return on stocks and Asset Values in Dual Portfolio Consisting of Stock of Companies Listed on Tehran Stock Exchange
Original Article Print ISSN: 2321-6379 Online ISSN: 2321-595X DOI: 10.17354/ijssJuneI/2017/09 Relationship between Return on stocks and Asset Values in Dual Portfolio Consisting of Stock of Companies Listed
More informationOnline Publication Date: 10 March, 2012 Publisher: Asian Economic and Social Society
Online Publication Date: 10 March, 2012 Publisher: Asian Economic and Social Society Relationship between Working Capital, Operating Cash Flows and Operating Income: Empirical Evidences from Listed Firms
More informationJ. Basic. Appl. Sci. Res., 3(4) , , TextRoad Publication
J. Basic. Appl. Sci. Res., 3(4)847-854, 2013 2013, TextRoad Publication ISSN 2090-4304 Journal of Basic and Applied Scientific Research www.textroad.com Investigation the Effects of Working Capital Management
More informationYadollah Tariverdi 1, Amir Reza Keighobadi 2, Samaneh Agha Kazem Shirazi 3
International Research Journal of Applied and Basic Sciences 2013 Available online at www.irjabs.com ISSN 2251-838X / Vol, 4 (5): 1163-1169 Science Explorer Publications The relationship between Cash flows
More informationTobin s Q Model and Cash Flows from Operating and Investing Activities in Listed Companies in Iran
Zagreb International Review of Economics & Business, Vol. 12, No. 1, pp. 71-82, 2009 2009 Economics Faculty Zagreb All rights reserved. Printed in Croatia ISSN 1331-5609; UDC: 33+65 SHORT PAPER Tobin s
More informationThe relationship between liquidity and the company size with company value in companies listed on the Tehran Stock Exchange
European Online Journal of Natural and Social Sciences 2013; vol.2, No. 3(s), pp. 1210-1217 ISSN 1805-3602 www.european-science.com The relationship between liquidity and the company size with company
More informationResearch on the Influence of Non-Tradable Share Reform on Cash Dividends in Chinese Listed Companies
Research on the Influence of Non-Tradable Share Reform on Cash Dividends in Chinese Listed Companies Fang Zou (Corresponding author) Business School, Sichuan Agricultural University No.614, Building 1,
More informationManagement Science Letters
Management Science Letters 3 (2013) 1125 1132 Contents lists available at GrowingScience Management Science Letters homepage: www.growingscience.com/msl Investigating the effect of growth and financial
More informationINVESTIGATING THE RELATIONSHIP BETWEEN CORPORATE GOVERNANCE RANKING AND EARNINGS MANAGEMENT IN COMPANIES LISTED IN TEHRAN STOCK EXCHANGE
INVESTIGATING THE RELATIONSHIP BETWEEN CORPORATE GOVERNANCE RANKING AND EARNINGS MANAGEMENT IN COMPANIES LISTED IN TEHRAN STOCK EXCHANGE Yaser Sasaninejad MSc in Industrial Management - Financial Orientation.
More information