kamran jamali

The goal of this study is to answer to this question that qualified audit opinions could have what kinds of the consequences for companies? On the other side, shareholders, capital investors and creditors show what kind of reaction with regard to qualified audit opinions? With taking into consideration that audit opinions increase reliability of information that are accessible for investors and creditors, at the same time, representing of qualified audit opinions can increase the risk of information as well. This research examines the impact of qualified audit opinions on the expected return on common shareholder's and giving credibility by creditors in accepted companies in the Tehran Stock Exchange. Statistic samples of this study are collected from 120 companies listed in Tehran Stock Exchange for the time period of 2004 to 2011 and in order to examine hypothesis of this study panel data method of research was applied. Based on the findings of this study there is a significant relationship between qualified audit opinions and the expected return on common shareholders and, on the contrary there is no significant relationship between qualified audit opinions and the granting of credit by the creditor.

Today one of the main problems of oil-exporting countries is severe dependence on oil revenues. The existence of volatility of oil prices and the uncertainty which stems from it exacerbates the problem. Therefore, the investigation of the consequences of oil price volatility on different sectors of the economy, particularly the country's capital markets which represent growth of economic activities, is very important and vital. In this paper, we examine the effect of oil price volatility on investing strategies. Our sample is the listed companies in Tehran Stock Exchange during the period 1379 to 1389. To measure the impact of oil price volatility on investment strategies, GMM (Generalized moment method) is used. Empirical results showed that there is a U shaped relationship between oil price volatility and firm investment.

The auditing caused the increase in the validation of the information that contained in the financial statements. So، when the audit quality increases، the accounting information quality also increases. And، information asymmetry between the management and the users will somehow decrease. The quality of auditing report will strengthen the user’s ability to predict the future performance and the future return of the company. The purpose of this study is to examine the association between audit quality standards and the future return of the stock. For this purpose، we have used the sample data of 100 companies which are listed in Tehran stock exchange from 1384 to 1390. We have applied the panel analysis to test the hypothesis of this study. The results of this study reveal a significant positive relationship between auditor experience and auditing firm size with future stock return. In addition، there is a significant negative relationship between the frequent auditor selection and future stock return.