فصلنامه دانش حسابداری مالی
سال دهم شماره 3 (پیاپی 38، پاییز 1402)

The purpose of this study is to investigate the impact of business strategy and profitability of the firm's internal transactions and also to investigate the moderating effect of managers' overconfidence on this relationship.

Bentley et al.'s (2013) combined scoring system has been used to determine the strategy of each firm. In this research, 74 of the firms listed on the Tehran Stock Exchange during the period 2014-2020 have been examined. To test the hypotheses, were used the test of comparing two independent societies (defensive firms and aggressive firms) and t-test (Wilcoxon rank-sum tests).

The main results of the study show that the profitability of internal transactions in offensive firms is higher than defensive firms, but in firms with overconfidence of managers, the profitability of internal transactions in defensive firms is higher than offensive firms. Additional tests show that the relationship between business strategy and the profitability of internal transactions is more pronounced in these cases: domestic sales, internal transactions by men (relative to women), firms that are not covered by Act 141 of the Commercial Code in Iran, and are under family control and have significant distortions in reporting and the high level of information asymmetry.

This study empirically shows that business strategy can affect the profitability of internal transactions and managers' overconfidence is an effective indicator in adjusting this relationship. Understanding the impact of business strategy on the profitability of internal transactions can help foreign investors cautiously allocate resources among firms with a distinct business strategy.

Contribution: 

This study provides interesting evidence of the impact of business strategy on the profitability of internal transactions as well as the moderating effect of managers' overconfidence as one of the behavioral biases on the relationship between business strategy and profitability of internal transactions. These cases have not been studied so far and the results of this study develop the theoretical literature in this regard.mThe findings can also be useful in understanding the characteristics of firms that seek profitability through internal transactions, and also useful for those seeking to reduce the benefits of internal transactions (e.g., legislators).

When the company is in a stable state, its value is enhanced from the perspective of investors, creditors, and the general public, and the company's short-term and long-term performance is determined as a function of multiple management policies. Considering that the result of management policies can be evaluated with the value chain performance index of the company, The purpose of this research is to investigate the effect of value chain performance on profitability, financial stability, as well as financial health and going concern. On the other hand, its effect on the company's bankruptcy risk has been investigated.

The statistical population of the research includes all active companies in the Tehran Stock Exchange; However, by applying the necessary restrictions, the number of 142 active companies in the period of 11 years, i.e. from 2011 to 2021, has been examined. To measure the performance of the value chain by purposefully determining the input and output variables, Stochastic Frontier Analysis (SFA) function approach has been used. Also, multiple regression has been used to test the research hypotheses.

The findings of the research showed at the confidence level of 95%, the performance of the company's value chain has a positive effect on the profitability index, financial stability, as well as financial health and going concern. But they significantly have a negative effect on the bankruptcy risk.

The results of the present research showed that the performance of the set of steps in the value chain of listed companies, while improving the financial performance, had a favorable effect on their financial health and stability, as well as their survival, and as a result, the probability of their bankruptcy was reduced. Although the value chain performance evaluation index has a score of less than 50%, the overall performance of companies can contribute to the economic growth and development of the country and the optimal allocation of resources.

Contribution: 

Evaluating the performance of the set of components of the company's value chain in the form of a single index is particularly important for researchers as a result of multiple management policies; In addition, it can help in the proper selection of investors, the correct assessment and advice of consultants and analysts, the decision-making and planning of company managers, as well as the direction and control of the capital market and macroeconomics by statesmen.

This study investigates the phenomenon of relationship-oriented strategies in the audit market of Iran and identifies the various forms of strategies used by audit firms to build and maintain relationships with clients.

Using qualitative and quantitative approaches, in-depth and semi-structured interviews were conducted with audit partners, and a questionnaire was designed to collect quantitative data.

The qualitative findings reveal that Iranian audit firms employ favoritism relationships with a social approach and utilitarian relationships with an economic and political approach. Moreover, the study found that large and old audit firms exhibit different behaviors in terms of utilitarian relationships compared to small and young audit firms. The quantitative approach involved factor analysis, which confirmed the validity and reliability of the introduced model, and the test of the data indicated that only half of the identified relationship-oriented strategies in qualitative approach were confirmed as common forms of relationship-oriented in the Iranian audit market.

The results of the study indicate that Iranian audit firms inevitably use relationship-oriented strategies as a business strategy to mitigate the negative effects of economic issues on their business.

Contribution:

 As an initial effort, this study provides a comprehensive and lucid depiction of the phenomenon of relationship-oriented strategies, and their classification into various forms, as well as their prevalence in the context of the Iranian audit market.

Today, many companies are facing uncertainty due to political changes. Economic uncertainty makes current tax planning strategies ineffective and forces companies to increase tax avoidance. The aim of the current research is to investigate the financial constraints and its role on the relationship between the uncertainty of macroeconomic variables and tax avoidance.

The present research method is applied research and descriptive-correlation research group and the theoretical framework and background of the research is based on the library research method. The statistical population includes all companies accepted and active in the Tehran Stock Exchange from 2013 to 2020. Based on this, the statistical sample of the research is 163 companies using the method of systematic data removal. Data analysis was done with the help of Eviews12 software.

The results showed that there is no significant relationship between the uncertainty variable of exchange rate and the uncertainty variable of interest rate with tax avoidance of companies. But there is a positive and significant relationship between the uncertainty variable of the GDP rate and the uncertainty about the inflation rate with corporate tax avoidance. Also, the results show that financial restrictions did not have a significant effect on the relationship between the uncertainty of macroeconomic variables and tax avoidance.

Uncertainties of some macroeconomic variables are important criteria that have a significant impact on the tax avoidance of companies and their resource acquisition activities.

Contribution:

 When planning and making decisions, companies should take a special look at macroeconomic variables, especially the GDP rate and the inflation rate, as well as their fluctuations and trends.

This research examines the effect of management lobbying on the relation between investor sentiment and product market competition with the firm's performance quality (PQ).

To measure firm's PQ, used a measure of nine criteria includes four of which were related to profitability, three to financial status, and two to operational efficiency, and to measure the investor sentiment used the index of the cumulative return movement, the competition of the product market used the Lerner index, and management lobbying has used the criteria of board members affiliated with the government, parliament and governmental shareholders with more than ten percent. 167 companies were selected by systematic screening from the companies listed on the TSE during 2011 to 2021. Logistic regression model and likelihood ratio test were used to check the significance of the whole model.

Investor sentiment has a significantly positive effect on the firm's PQ, management lobbying has a significantly negative effect on the firm's PQ, management lobbying has a negative and significant effect on the relation between investor sentiment and PQ. Product market competition has a significantly positive effect on the firm's PQ, and management lobbying has a significantly negative effect on the relation between product market competition and PQ.

The investor sentiment improves PQ, but management lobbying weakens PQ, and also it weakens the effect of investor sentiment on PQ. Product market competition will improve PQ and management lobbying will weaken the relations between product market competition and PQ.

Contribution:

 In the current literature, management lobbying plays an important role in managing and directing the firm's PQ, as well as product market competition, investors show reactions by judging and observing such behaviors of company officials.

With global warming and environmental pollution, today's societies are trying to reduce pollution and require companies to be socially responsible. One of the factors that can affect accountability is the optimistic tone of managers. In the current research, it examines the effect of managers' optimistic tone on corporate social responsibility disclosure, emphasizing information asymmetry.

This research is practical from the point of view of purpose, and from the point of view of correlation methodology, it is causal type (post-event). The statistical population of the research is the companies admitted to the Tehran Stock Exchange, and using the systematic elimination method, 138 companies were selected as the research sample in the 6-year period between 2017and 2022. Stata software was used to test research hypotheses.

The results of the research show that the optimistic tone of the managers has a direct effect on the disclosure of the social responsibility of the company. But information asymmetry has the opposite effect on the disclosure of corporate social responsibility. Also, information asymmetry has an inverse effect on the relationship between managers' optimistic tone and corporate social responsibility disclosure.

Although the optimistic tone of managers increases the disclosure of corporate social responsibility, information asymmetry causes it to decrease. Therefore, it can be concluded that information symmetry is effective in social responsibility.

Contribution:

 In recent years, shareholders and investors and governments have paid special attention to social responsibility. Therefore, this research can provide a new study platform in the sense that the social responsibility of companies with regard to environmental pollution is relevant, in order to explain the necessary solutions and increase the pressure on companies. Especially, attention has been paid to the tone of managers and its compliance with the financial and non-financial performance of companies.

The purpose of the current research is to investigate the information system and data analysis in the accounting curriculum, the above research is practical and it is addressed with four main questions and thirteen sub-questions. Recently, accounting professionals have emphasized the need for accounting students to have technology and data analysis skills to succeed in the accounting profession. In order to meet this demand, accounting schools with additional credit should include at least information technology and data analysis skills in their curriculum, which requires the approval of the Ministry of Science, and several researches should be done in this regard. We report the results of a survey of accounting professors and administrators about their experiences integrating technology into the curriculum, including their views on the state of implementation and challenges, as well as their current program proposals. We found that the current accounting curriculum does not adequately explain information technology, but the integration method, as well as the courses available, vary among programs. Our findings and discussion should be of interest to accounting professors and managers, the Ministry of Science and all accounting researchers.