فصلنامه دانش حسابداری
پیاپی 14 (پاییز 1392)

This research studies the relationship between Audit firm industry specialization and the audit report lag (ARL) from 2002 to 2011، in the firms listed in Tehran Stock Exchange. ARL is one of the few externally observable audit output variables that allows outsiders to gauge audit efficiency، because it is related to the timeliness of both audit and earnings information. In this research the time between the financial year end and the date of audit report is considered the audit report lag، and auditor specialization is measured by the market share approach. Industry-specialized auditors are able to develop the industry-specific knowledge and expertise and to familiarize themselves quickly with clients’ business operations and، therefore، are likely to complete the audit operation faster than their non-specialized counterparts. Using regression analysis and controlling known determinants of the ARL، results show that the ARL is shorter for the firms audited by the industry specialized auditors.

Short term financial decisions such as cash holding and working capital management may affect firm’s value in the long term. The purpose of this study is to provide help for managers to know the importance of cash holding and management of working capital to choose the best financial decisions. Also، understanding the relationship between cash holding and working capital management on Excess Return are important for investors to choose the best investments. This paper takes a sample of firms listed in Tehran Stock Exchange to investigate the relationship between cash holding and working capital management on Excess Return. In this study 84 companies during 1385 to 1389 were selected and the panel data analysis was carried on. The results show that there are significant relationships between cash holding and working capital management with Excess Return، regarding the effects of the last year cash holding and working capital on the current year cash holding and working capital، and the leverage affects on them. The finding shows the importance of the short term financial decision on Excess Return in emerging market، and because of the financial constraints، the relationships between cash holding and working capital management with Excess Return are positive.

In this study، the influence of product market competition on disclosure quality of companies is investigated، regarding the aspects of strategic effect and governance effect. The data is obtained from 105 companies listed in Tehran Stock Exchange، in the years 1383- 1390. In order to test the hypotheses، Logistic Regression Model is applied. The results from strategic effect showed that there is a meaningful and negative relationship between Herfindohl-Hirschman index and entry costs. This shows there is meaningful and positive relationship between competition and disclosure quality. Findings from governance effect revealed that Herfindohl-Hirschman index and entry costs index have no meaningful effects on the relationship between the board of directors’ independence and the disclosure quality.

To estimate abnormal accruals، prior researches employed a wide variety of models and estimation procedures. We evaluate the performance of three representative models، modified Jones model (MJ)، MJ with operating cash flows (MJOCF)، and MJ with return on assets (MJROA)، using multi regression model and a sample with 80 active companies in Tehran Stock Exchange (TSE). In addition، we investigated accrual anomaly، using MJ with operating cash flows (MJOCF)، and MJ with return on assets (MJROA). The result showed that the best model for perspective abnormal accrual is the MJOCF model، and that MJOCF shows less accrual anomaly.

The objective of this study is to investigate the effect of auditor change on audit opinion change، during a period of 9 years from 2002 to 2010. The study sample consists of 243 firms، listed in Tehran Stock Exchange. Research method is of regression type، and the hypotheses tests are carried out by the logistic regression method. The findings of this study confirm a direct relationship between auditor change and audit opinion change. Additionally، firm size has direct relationship with audit report change، and other variables such as loss، firm’s age and audit tenure have reverse relationship with audit report change. Auditor change has strong relationship with the opinion change. The positive relationship between auditor change and audit report change confirms the phenomenon of opinion shopping in the Iranian audit market.

The aim of this study is to investigate the impact of effective variables on the levels of accounting conservatism in the companies listed in Tehran Stock Exchenge. The effective variables are growth sales، growth assets، dividend، company size، fanancing expense، return on assets، return on sales، leverage، investment in fixed assetes and effective tax rate. The sample includes 243 companies listed in Tehran Stock Excancge during 1381-1389. We used t-test and simple linear regression analysis to examine the hypotheses. Findings indicate that the accrual approach more than the non operating accrual approach، and the latter more than the market approach present storng relationships with the variables. The study also showed that the variables of balance sheet more than the variables of statment of income provide storng relationships with conservatism.

The purpose of this study is to investigate audit quality impact on cost of equity capital. The data has been collected from financial statements of 91 firms accepted in Tehran Stock Exchange (TSE) in the years 2004 to 2010. In this study، the audit quality is measured by audit size and auditor tenure، and the cost of equity capital is measured by industry-adjusted earnings-price ratio. The hypotheses of the study were tested by polled regression model. The results indicate that audit firm size and auditor tenure have meaningful negative relationships with cost of equity capital. Hence، it could be concluded that audit quality reduces cost of equity capital of the manufacturing companies accepted in Tehran Stock Exchange.