maryam seifzadeh

The present study assesses the relationship between management characteristics (management entrenchment, narcissism, CEO overconfidence, board effort, real and accrual-based earnings management) and audit opinion shopping in the Tehran Stock Exchange-listed firms. In other words, this paper seeks to answer the question "whether management characteristics can exert a favourable effect on audit opinion shopping or not." For this study, the multivariate regression model is used for hypothesis testing. Research hypotheses are examined using a sample of 1309 observations on the Tehran Stock Exchange during 2012-2018 and by employing the panel data-based multivariate regression and fixed-effects model. The results show a negative and significant relationship between management entrenchment and managers' overconfidence and audit opinion shopping. A positive and meaningful relationship was observed between management narcissism, real and accrual-based earnings management, and board effort and audit opinion shopping.

The present study is concerned about the relationship between corporate governance and the volatility of profit and loss components in companies listed on the Tehran Stock Exchange. This paper's statistical population includes 129 listed companies on the Tehran Stock Exchange during 2012-2017. For testing the study's hypotheses, the multivariate linear regression is used based on the panel data. The study's findings show no significant relationship between institutional shareholders’ ownership percentage and profit volatility and loss. Moreover, the results indicate a negative and significant relationship between the percentage of major shareholders and volatility of profit and loss. The study's findings suggest a positive and significant relationship between board independence, financial expertise, and CEO education, and volatility of profit and loss. This paper fills the gap by presenting logical reasoning and empirical evidence on the Tehran Stock Exchange and further develops the conducted studies on corporate governance.