فهرست مطالب gholam reza soleimani amiri

The purpose of this study is to provide a comprehensive framework of effective anti-fraud and financial corruption criteria in public and private sector with emphasia on the fraud triangle.In order to achieve the purpose of the study, by studying the literature and the background of the, a set of effective factors were extracted in the framework of anti-fraud and financial corruption. Then, by implementing the fuzzy Delphi method, we identified the most important influencing factors in this framework, which is based on 29 criteria and 159 sub-criteria. In the next step, after the finalization of the framework, by using the best-worst approach, the main dimensions and criteria of the framework were prioritized.The results of the fuzzy Delphi method show that 141 sub-criteria were confirmed out of a total of 159 sub-criteria . Also, the results of ranking the main dimensions and criteria using the best-worst method in this study show that the most important dimensions of the fraud triangle are "opportunity", "justification" and "motivation" respectively.The results of the research help regulatory organizations to develop integrated anti-corruption laws for companies by industry. Also, companies should strengthen the most important anti- fraud and corruption, criteria such as; environmental factors, corporate governance, motivational methods, implementation of laws and regulations, transparency and disclosure, risk management, information and communication technology, interaction of organizations with each other, business partners, attitude and way of thinking of managers, whistleblowing, and human resources procedures in the dimensions of the fraud triangle.

The main objective of this study is to investigate the impact of auditor distraction to the audited companies in shock on Audit quality.

The sample consists of 103 firms listed in Tehran Stock Exchange during 2017 to 2022, which are selected using the systematic removal method. In this research, the audit quality has been measured by using two criteria of beating earnings forecast and earnings restatement. Finally, the hypothesis of this research was tested through logistic regression using Eviews software.

Results of the study indicate that clients of distracted auditors are more likely to meet earnings forecasts or the actual earnings per share will be geater than earnings forecasts (beating earnings forecast) and also, clients of distracted auditors exhibit a higher probability of restating their earnings in subsequent years.

Overall, auditor distraction to the audited companies in shock reduces the audit quality.           

Contribution: 

Considering the impact of the auditor distraction on audit quality, it is very important to pay attention to the quality of auditors’ report in preventing their clients’ opportunistic financial reporting.

Audit quality is an important part of the information disclosure system that directly affects the quality of financial reporting. Considering that in practice, the audit process of a company is the responsibility of the audit team, and also, due to the small size and partner-oriented nature of most audit institutions in Iran, examining the characteristics of Individual partners are important as people who influence the quality of auditing. For this purpose, the diversity of the individual characteristics of the audit partners, including gender, level of education, work experience, and their tenure in the institution on three factors that determine the quality of the audit, including modified audit opinions, the restatement of annual financial reports and discretionary accruals were investigated. The statistical analysis of the research was carried out based on the data extracted from 119 companies listed in the Tehran Stock Exchange, from 2017 to 2022; Also, to test the research hypotheses, multivariate regression was used. Based on the findings of this research, the diversity of the individual characteristics of the partners of audit institutions has a negative and significant effect on the modified audit opinions, the restatement of annual financial reports, and discretionary accruals. Also, in general, the diversity of the characteristics of audit institutions' partners has a positive (negative) and significant effect on the (lack of) audit quality.

The question that is raised today in the field of implementation of operational budgeting is "What requirements and needs should be considered in order to fully and properly implement operational budgeting by government organizations?" This research seeks to identify a model to explain the key and effective factors of operational budgeting in the public sector, and the key factors extracted to identify a suitable model through Delphi research are submitted to experts and after obtaining consensus as the ideal model of the budget system. Operational planning should be introduced.This research has a qualitative approach and multi-grounded theory method was used as a research method. The method of data collection, library studies and in-depth and open interviews with 15 experienced university professors and activists and managers of public sector organizations through targeted sampling is discussed until the saturation point is reached. The validity of the research was confirmed by the interviewees and experts. Reliability was also obtained using the retest method of 91%. To analyze the data, the continuous comparison method was used during three stages of open, central and selective coding. Data analysis showed that political, functional, and organizational factors as causal factors; Organizational ability, organizations and organs, management, as categories; Systemic, human, structural, national factors as background factors; organizational, process, economic factors, as intervening factors; Technical and society factors were identified as organizational and national strategies and consequences as the consequences of effective factors in operational budgeting in the public sector.

The purpose of this study is to investigate the effect of managers' narcissism on auditing fees. For this purpose, data related to companies listed on the Tehran Stock Exchange for a period of ten years between 1390 to 1399 for 90 companies were extracted and used using Eviews 8 statistical software. The present study is descriptive and analytical in terms of purpose; In terms of the type of research process, quantitative; In terms of logic, it is an inductive research and in terms of research result, it is an applied research. Personality traits (such as the brain and hormones) suggest that individuals' behavior depends on their origins and personality traits. Individuals' personality traits underlie their behaviors. Organizational leadership is one of the topics that has been widely discussed in organizational psychology. Therefore, after statistical analysis, the results of research hypotheses indicate that managers' narcissism has a positive and significant effect on audit fees.

This study investigates the relationship between the variables of financial health status and earnings volatility with the audit report lag in the insurance industry. Weak in financial health indicators can increase the likelihood of a company going bankrupt and expose the auditor to greater audit risk. Therefore, in such circumstances, it is necessary for the auditor to increase the scope of his proceedings and, by documenting the evidence, provide the necessary preparation and ability to defend his opinion against any possible future complaint. The natural result will be longer operating times and lag in issuing audit reports.Auditors may also consider higher or lower levels of earnings volatility as additional risk. On the one hand, more earnings volatility are less predictable; Therefore, there is likely to be a significant discrepancy between the auditor's expectation of earnings and the amount of earnings that the employer generates, and in these circumstances it may be challenging to make reliable accounting estimates; Especially estimates that face a lot of uncertainty. Auditors, on the other hand, may consider less earnings volatility as an additional risk; Because auditors' inference from fluctuating profits is aware of the risks of profit management.Because previous research has shown that lag in the audit report are a reasonable measure of an auditor's effort, if auditors view the firm's financial health and earnings volatility as an effective risk and adjust their efforts to respond to those risks, then are expected to have the firm's financial health indicators and also, the company's earnings indicators a significant relationship with the audit report lag. In this regard, Altman z score and risk-based capital ratios are considered as indicators of financial health and standard deviation of earnings during the five-year period and the percentage of annual changes in Dividend Per Share (DPS), as indicators of earnings volatility.This study has been able to participate in the development of research in this field by using several innovations. First, considering the important role of insurance companies in the development and economic security of societies, it has examined the factors affecting on the audit report lag (with emphasis on financial health indicators and earnings volatility) in this industry. Second, it contributes to timely financial reporting by showing that earnings volatility can affect on audit report lag. The results of this study help auditors better estimate audit risk by providing evidence that more earnings volatility as a sign of increased risk that requires additional audit effort. Also, using the risk-based capital criterion and Altman z3 score, which is specific to service companies, has attracted the attention of stakeholders and researchers to the specific financial health indicators suitable for insurance companies in examining related issues. This study can be considered by a wide range of stakeholders in the timeliness of financial reporting of insurance companies, such as insurance industry investors, insurers, managers, legislators, auditors and academics.

The statistical population of the study includes all insurance companies listed on the Tehran Stock Exchange and the OTC Iran. Due to the limited number of companies and the years of presence of these companies in the Iranian capital market, all available society that had the necessary conditions to conduct research have been studied. The test of research hypotheses was performed using ordinary least squares regression on the data of insurance companies listed on the stock exchange and over-the-counter, which provides a total of 51 observations of the company-year during the period 2017 to 2019.

Although there is a reasonable expectation that the financial health status of companies - especially in the insurance industry - will be considered by auditors and will be considered in assessing audit risks and planning the necessary efforts to perform audit operations; However, the findings indicate that the selected financial health indicators do not have a significant effect on the audit report lag. In addition, the findings show that the explanatory power of Altman z-score variables and the risk-based capital ratios are not significantly different from each other in terms of audit report lag.The results of the test of earnings volatility indices show that both indices of standard deviation of earnings during the five-year period and the percentage of annual changes in earnings per share have a positive effect on the audit report lag; The difference is that the percentage of annual changes in Dividend Per Share has a lower error level.

The results may indicate auditors' possible disregard for an important factor in corporate financial health; But there is a different interpretation, and that is the same situation of companies in terms of financial health. In other words, if the same economic reality exists for the companies under study, the researcher will make a measurement error and the results will not be inferred. Using the criterion set in the Altman model, only two Reinsurance companies are recognized as financially qualified and have a value of 1. The same is true of the risk-based capital ratios of insurance companies. Contrary to Altman Z's scores, most insurance companies have the risk-based capital ratios of more than 100% over the years, and have earned the first level of financial wealth. However, according to insurance standards in some countries (including the United States), the capital Ratio for insurance companies is considered 200%. If the insurance legislators in our country require a ratio of 200%, the results of the risk-based capital ratios will be similar to the Altman z score and only 4 insurance companies will be recognized as having financial health conditions. Finally, our interpretation of the results of this study is that in terms of accurate financial health indicators, most Iranian insurance companies have insufficient capital to cover their accepted risks, and Therefore, auditors are aware of this issue and have considered this issue in planning their audit operations. The fact that the average audit report lag in this industry is too high compared to other industries is a proof of this claim.

In the present study, the relationship between audit quality and growth and value stock returns was investigated experimentally and with the approach of logistic regression model. The quality of the audit is measured using two criteria: the type of auditor's opinion and the size of the audit firm and The division of stocks into growth and value was done using the Hagen model. Also, the size of the company, the leverage ratio and the profitability ratio as the control variables were introduced into the research model. The research sample consists of 80 companies during the period from 2007 to 2017. The results indicate that audit quality has a significant relationship with growth and value stock returns Based on p/s, Roa, p/e and Roe.

Risk and its management make one of the most important concerns of different firms and industries. Insurance is one of the most important institutions in this field. Also the origin of confidence is one of the most important pillars of the capital market that the insurance industry can easily provide for market participants. One of the new tools used by the insurance industry and the capital market for risk management in recent years is Insurance-Linked Securities. After the introduction of Insurance-Linked Securities into the insurance industry, there emerged a variety of securities in this industry. Catastrophe swaps are one of the Insurance-Linked Securities instruments for transferring risk on both sides of transaction in the insurance market. The idea of a trade-off for catastrophe swap can greatly help to form the market for the non-life insurance market swaps. In this paper, besides investigating the catastrophe swaps from the perspective of definitions, types, features, mechanisms, applications, advantages and disadvantages using the descriptive-analytical method, we attempt to present the final design of the non-life insurance market swaps including actors, pillars and instruments used in the market that are jurisprudentially and financially approved.

The purpose of this study was to investigate the effect of conservatism on the relationship between operating cash flow and cash value in companies admitted to the Tehran Stock Exchange. In order to test the hypotheses of this research, 184 companies were selected during the period 2015-2019 using a systematic elimination method from the companies accepted on the Tehran Stock Exchange and for analyzing the data, a multiple regression model based on data technique compilation was used. The results show that in the first hypothesis, cash flow and cash value of the company are related and have a positive and significant relationship, so the zero hypothesis is based on the lack of correlation between operating cash and cash value. In the second hypothesis, conservatism influences the relationship between cash flow and cash value and strengthens this relationship. Therefore, the second hypothesis of non-conservative effect on the relationship between operating cash and cash value is rejected. Conservatism can also be described as a structure that, if done appropriately, will lead to the resolution of many representation issues and information asymmetries that generally result from the growing gap between managers and funders of business units. According to the general results of the article, it can be seen that conservatism affects the relationship between operational cash and cash value and strengthens this relationship.

In the last decade, Securities and Exchange Organization has required issuers listed in Tehran Stock Exchange and Iranian over the counter market to establish an audit committee (internal audit guidelines) having communication with an external auditor (audit committee charter) in order to improve firms’ internal controls. Therefore, this study investigates effects of management ingratiation, earnings management incentives and audit committee communication with the external auditor on the quality of auditor's judgment. The statistical test method is MANCOVA. Results indicate that "management ingratiation", "earnings management incentives " and "audit committee communication with external auditors" have positive significant effects on auditors' judgment quality. In addition, interactions of "management ingratiation and  earnings management incentives", "earnings management incentives and audit committee communication with external auditors", and "management ingratiation and earnings management incentives and audit committee communication with external auditors" have  positive significant effects on auditors' judgment. Finally, results show that, according to the source credibility theory, when there is management ingratiation, high earnings management incentives result in positive significant effects of the audit committee communication with external auditor, on the quality of auditor's judgment.

The purpose of this study was to investigate the effect of intellectual capital indices and information asymmetry on growth and value stock returns empirically. Intellectual capital has been measured using the three criteria of human capital, structural capital efficiency and productivity capital efficiency And dividing stocks into growth and value is done using the pe ratio and asset growth rate. Also, firm size, leverage ratio as control variables were included in the research pattern. The sample of the study consists of 78 companies in the period 2012-2018. The results obtained by using regression data indicate that among intellectual capital indices, human capital index has a positive and significant effect, structural efficiency has a negative and significant effect, and productivity efficiency has a negative and significant effect with grown Portfolio returns based on the pe ratio.. Also, the ratio of human capital had a significant negative impact, the structural efficiency had a positive and significant effect, and the productivity of productivity had a significant negative impact on the value portfolio return based on the pe ratio. The second hypothesis test also showed that human capital and productivity capital productivity in both growth and value portfolios based on asset growth had a negative and significant effect on stock returns But structural efficiency has had a meaningful effect on both growth and value portfolios on stock returns. Information asymmetry in both growth and value portfolios based on pe ratio and asset growth had a positive and significant effect on returns

swaps market and the different types of risks associated with the two operational models of the non-life insurance exchange marketRisk assessment and management are among the most important challenges for managers in different companies and industries. The insurance industry is no exception, and there are numerous problems in distributing the risks and demands of large insurance companies that are not repaid for a long time and the amount of claims is increasing day by day, necessitating the design and use of new financial tools to solve the problems of the insurance industry.Non-life insurance swaps are one of the new derivative financial instruments that additionally contributes to the hedge and transfer of risk and as an insurance security can also balance the risk as well as free up the risk-holding capacity of insurance and reinsurance companies. In addition, insurers' differing views on risks and their probability of occurrence can lead to the formation of insurance swaps markets, especially catastrophic swaps.

 first, based on library studies and by descriptive-analytical method, are calculated based on the results obtained from the experts of the focus group of reinsurance experts to present non-life insurance swaps market and non-life insurance swaps tools, Then different types of methods of covering these risks are expressed

 After analying the market risks of non-life insurance swaps, different types of risks are calculated based on the two operational models of the non-life insurance swap market and the methods of covering their risks counts, which are based on the results obtained from the experts of the focus group.

  One of the dimensions of the implementation of the non-life insurance swap market is the study of its risks. In this research, the risks and various methods of risk coverage of the model are presented.

Working capital management is a vital part of corporates' financial management, which is also related to profitability and reflects the financial health of the company. Since Iran's business environment, as well as its prevailing economic and political conditions, are different from some other countries, it was decided to specifically examine how to manage working capital in Iran qualitatively.

In this study, a qualitative content analysis method and in-depth interview tools were used and for this purpose, 26 board members, managers, deputies and financial advisors of companies in 10 listed industries of Tehran Stock Exchange were interviewed.

In this study, in addition to the factors affecting working capital management (external factors including: global commodity prices, macroeconomic factors, political conditions, the role of government, suppliers, industry; and internal factors including: financial factors, corporate governance mechanisms, board of directors, Company credibility, type of goods, type of sales, dividends policy, production volume, company's credit policy, non-systematic risk, company's life, geographical location) and consequences of optimal working capital management  (improving liquidity, increasing profitability, developing  market share, improving Company's credibility, company's survival), some factors such as background conditions (economic structures, cultural structures and state's actions) and strategies to improve optimal working capital management (management, board structure, establishing risk committee , budget forecasting, financial regulation for each Industry, conducting internal audits and operational audits, industry's partnerships with universities and scientific centers, and conducting analytical work) are provided. Obstacles and problems that industries and companies encounter in Iran for the optimal implementation of working capital management are also presented.

According to the research findings, the most influential factor on working capital management is made by the economic and political conditions of the country and the role of the government, which can be provided by developing long-term economic plans according to the political and economic conditions of the country. Besides, research findings also provide managers and financial deputies with a broader perspective for optimal working capital management.

Rate of stock return is the minimum rate that an investor should earn to get a sufficient return. There are various criterion to assess companies and investors expected return that using by investors and creditors. The purpose of this study is to comparison explanatory power of assessing stock rate of return models in Iran during 1391 to 1395 at seasonal basis. At this study Eviews software was used for statistics and data was combinatorial. Results shows that using dual conditional beta increase Carhart model explanatory power and therefore it is a better model for decision makers. Also at the basic format, HXZ model has better explanatory power than Carhart model and it is more useful for investment decision making.

The purpose of this study is to identify the content characteristics of the articles in the 1 to 25 issues of the Journal of “Empirical Research in Accounting”, affiliated to Al-Zahra University. The research method is content analysis and the research population consists of 243 articles published in 26 booklets of this journal between 2011 and 2018. The research findings indicate that 607 people have taken part in writing the articles, 66 percent of the authors being male and 34 percent female. 236 works (97%) are the result of group work and 8 others (4%) of individual work. 27 percent of the authors are articles, assistant professors, 15 percent associate professors, 13 percent doctoral students, 5 percent professors, and the rest of the academic levels have been ranked lower. Investigation into the organizational affiliation of the authors shows that 38 works (16%) are the results of the efforts of the researchers at Al-Zahra University. Allameh Tabatabai, Shiraz, Tehran and Mazandaran universities are ranked the next stages of producing works, respectively. 58% of the articles belong to the field of financial accounting, 12% management accounting, 11% auditing, 8% corporate governance and 2% taxes.

The dominant approach in international financial reporting standards is measuring fair value.The complexity of estimates of fair value mentioned in the International Financial Reporting Standard No. 13 will create challenges in auditing and it affects the quality of the audit; therefore, the main objective of this study is examining the views of Iranian auditors about the audit of fair value estimates and its audit challenges. Data was collected by questionnaire.  In this study, statistical tests like One-Sample T-Test and Friedman have been used for analyzing data. The findings of 118 collected questionnaires indicate thatthe use of Audit Standard 540 approved by the Audit Organization is difficult and requires reconsideration. Auditors believe that the most important audit challenge with regard to measuring fair value is the absence of an active market for most assets and liabilities. Also, according to the findings, the audit challenges of the measurement of the fair value for financial assets and liabilities are different from non-financial assets and liabilities. Audit difficulty Levels 2 and 3 of the fair value, the lack of educational guidelines, lack of auditor's competence and lack of experienced specialists can affect the quality of auditing fair value, and these issues point to the need for auditing knowledge and revision of audit standards. Also, the Audit Organization is the most important reference in the codification of educational guidelines on auditing fair value estimates; therefore, it is necessary that the Audit organization takes the necessary steps to codification these guidelines.

According to the capabilities of the Extensible Business Reporting Language (XBRL) , this paper addresses the issue of adopting this new reporting language by employees of Iranian National Tax Administration, as precondition of using it in the organization. This research, at first, examines theoretical and empirical literature and then, based on TAM technology mode, presents a theoretical model and identifies the factors influencing the adoption of this language in reporting. Then, by adopting a qualitative method and analyzing the content of 21 semi-structured interviews, the original theoretical model is amended and the factors influencing the adoption of this language in tax reporting are identified. Ultimately, by gathering and analyzing 70 Fuzzy Delphi questionnaires, this study presents the final conceptual model and evaluates the attitude of the employees of Iranian National Tax Administration around XBRL. The results of this study indicate that Iranian National Tax Administration employees embrace the eXtensible Business Reporting Language (XBRL) and, according to them, the main reason of accepting this new technology is its usefulness as a result of its positive impact on the qualitative information characteristics.

  Thisstudy shows cost stickiness and income smoothing in the cement industry occur in response to managerial caution and motives. The reason for choosing the cement industry is the specific nature of costs and production costs in this industry that may affect the managerial motives, and then, the management of profits. This research is descriptive and experimental and takes the financial data from 2007 to 2016. Assuming that the cement industry managers were susceptible to some misleading behaviors in financial reporting due to excess supply of cement in the domestic market over the study years, this study examined the relationship between cost stickiness and profit smoothing in this industry. The results showed that there is no negative and significant relationship between cost stickiness and income smoothing in the cement industry, and that it may be resulted from management distorting behavior to reduce costs stickiness by income smoothing. The results also suggested that the two variables do not have negative and significant effect on each other. It is expected that there is negative relationship between the two managerial events. However, due to the certain conditions of the cement industry, this relationship did not observed.

Pension as a motivational system by providing future financial security of employees has an important role in their job satisfaction and calmness; despite the importance of financial reporting of pension funds, their accounting standard not been thoroughly investigated. The purpose of this paper is assessing the effectiveness of Iranian Accounting Standard of Retirement benefit plans (No.27) and its overall evaluation using Post Implementation Review and mixed method; in other words, we used questionnaires and interviews for collecting data: 104 collected questionnaires were been analyzed by Fuzzy Delphi method; content analysis was also used to analyze the interviews. The results indicate that Standard No.27 has achieved its goals; Cost-benefit analysis also justifies the application of standard requirements. It is applicable to all pension funds, but approving appropriate accounting standards for other retirement benefit plans is necessary. As well as there are not essential infrastructures for applying Standard NO.27 in Iran.  These infrastructures include Actuarial and tax issues, calculating fair value and legal and structural conflicts.

In this research have been investigated role, effectiveness and evaluation of internal audit in the Offshore Oil Company as a subsidiary of the national oil companies. In this study, a questionnaire that its reliability and validity has been confirmed, is used to collect data. The population studied in this research was included managers, directors, supervisors, authorities, senior specialists, external auditors and internal auditors of Iranian Offshore Oil Company's headquarter and six operation areas in 1393 year. To test the hypotheses of this study is used T-test.
The findings showed that the internal auditor has failed to play its role well in the company and that function is not effective and current performance of internal audit is not in accordance with the its expected role.

Working capital should be available to any company to have the sufficient funds to cover short-term commitments and operating costs in the future. This guarantees the continuity of the company’s activities. Given the significance of the role of working capital management (WCM) in the companies, the study analyzed the content of texts and studies done in this field, presented three main hypotheses and examined the effect of most of the variables affecting WCM (both external and internal factors of the company), as well as the consequences of WCM in 161 companies listed in Tehran Stock Exchange (TSE) during a seven-year period from 2011 to 2017. The purpose of the study was to determine the most important factor affecting WCM and its consequences. The hypotheses were tested using multivariate regression and Granger causality test. The hypothesis testing indicated that extra-organizational factors such as gross domestic product (GDP), inflation rate and exchange rate have the greatest effect on WCM. Moreover, hypothesis testing indicated that some intra-organizational factors, such as current ratio, capital expenditures, financial leverage, return on assets, operating cycle, operating profit return, institutional shareholders ownership-percentage, and independence of board of directors affect WCM. Finally, hypothesis testing showed that optimal capital management improves the firms’ performance.

Cross-sectional stability of the leverage means that a firm’s current high or low leverage (relative to other firms) reliably predicts a comparable relative position in future cross-sections. The extent of stability in the cross-section is gauged by assessing the explanatory power of the current cross-section for future cross-sections going forward one year at a time and extending well into the future. This study examines the stability of leverage for 113 componies in Tehran Stock Exchange over the period 1999–2012. It conducts simulations that gauge the ability of random financing and a variety of leverage targeting models to replicate the instability of the crosssection over long horizons. The results show instability in leverage ratios. Target leverage models do a good job replicating the substantial instability of the actual leverage cross-section.

Regarding to the quest toward adoption of IFRS in Iran and Intent to globalization of accounting standards and Security and Exchange Organization’ announcement about adherence of IFRS, this study reports on an exploratory study of Iran's accounting and auditing professional's perceptions about important issues relevant to developing and implementing IFRSs. Results show that harmonization of accounting standards is a worthwhile objective and however there are some challenges about how adoption of IFRS, majority of professionals are agree with developing and implementing IFRSs.
Results from test show that Ranking of Enterprises Based on reporting are positively associated with returns.
This suggest that the ability for investment with considering the ranking of the enterprises based on reporting disclosed by Tehran Securities and Exchange Organization and taking of the information into account in their decisions.

Based on the dynamic trade-off theory, for the presence of costs of deviations from target leverage and costs of adjustments toward the target leverage, capital structure may not be necessarily compatible to the target structure, therefore, firms will take an action to adjust the capital structure only when its benefits are more than the costs. This study examines the speed of adjustment to target capital structure based on interaction between trade-off and pecking order theories in Tehran Stock Exchange over the period 1380–1393. For hypothesizes testing, this study uses Fixed Effect and Generalized Method of Moments methods. The results show that firms with both above-target leverage and a financing deficit have the fastest speeds of adjustment. Firms that tend to undertake quick adjustment have higher profitability and more growth opportunities. The evidence provides support for the dynamic trade-off theory of capital structure.

The present article examines the relationship between corporate social responsibility and financial performance listed in the Tehran Stock exchange. In order to collect information pertaining to corporate social responsibility, a questionnaire was used containing questions on social responsibility regarding customers, employees, the environment and institutions within the society; corporate financial performance was measured using the Return on Assets (ROE). For this purpose 71 companies were examined in the time span from 2009 to 2013. To analyze the data, statistical regression was applied. Results of the research indicate the presence of a relationship between financial performance and the social responsibility towards customers and the environment, while no significant relationship was observed between the employees and social institutions. The present research shall assist managers in developing effective websites related to corporate social responsibility in order to achieve superior financial performance in the long term. It also provides a perspective, for companies, regarding the role of social responsibility in gaining future benefits.