musa bozorg asl

The present research seeks to determine the priorities of the managers of the organization and the audit firms in determining the audit fees and compare these views with regard to the conditions (monopoly or competitive) of each of them in the pricing of audit services. Be Based on the analysis of the content of theoretical literature and audit experts, 17 factors were identified as affecting the determination of audit fees. The statistical sample consists of 15 managers of audit organization and 15 managers of audit firms. The required data were collected by means of a paired comparison questionnaire and the verbal indices were extracted from the questionnaire to determine the factors affecting the audit fees paid from the perspective of the audit firm’s managers and other audit institutions by the Excel software. The basis of the fuzzy logic is made. After the phase-out phase, and the comparison of factors weights from both groups, 9 factors of 17 factors were identified as the most important factors influencing audit fees. Although there was no significant difference between the two groups in determining the most important factors affecting audit fees, the weighting of the nine factors was different from the viewpoint of the two groups in determining audit fees. The 9 factors affecting the determination of audit fees are: the volume of operations, the complexity of the operation, the quality and effectiveness of the internal controls of the entity under investigation, the geographical distribution of the audit operation، the size of the unit reviewed, the initial audit، the employer’s risk, the characteristics of the auditor and Duration of the auditor’s responsibility in a registrar unit.

The capital structure and financing method and accordingly the factors affecting them are issues that have always been important for companies and stakeholders. The purpose of this paper is to investigate the impact of managers' overconfidence on corporate leverage and the moderating effect of institutional ownership on the relationship between managers' overconfidence and corporate leverage.

The study used a sample of 151 companies listed in the Tehran Stock Exchange for the period 2008-2017. In order to test the research hypotheses, multiple regression was used.

The results show that the managers' overconfidence and institutional ownership have a positive and significant impact on the leverage. In addition, the evidence shows that institutional ownership has a negative and significant impact on the relationship between managers' overconfidence and corporate leverage.

Managers who are optimistic about the future of the company, while feeling that their stock will not be properly valued by the market due to their optimism, they will seek financing through borrowing when needed. Companies also have different potential opportunities for financing due to the composition of their capital structure. Some companies are more likely to attract more foreign resources than political firms with less size and credibility due to their political influence, their size and credibility. In addition, with the increase in institutional ownership due to their active oversight, manager decisions will be made to improve company performance and avoid decisions that compromise company performance.

In the present paper the relationship between managerial ability and investment inefficiency has been investigated using financial information of 76 Tehran stock exchange listed companies for a six year from the beginning of 1387 to the end of 1392. Managerial ability is defined as talent of individual or individuals who have undertaken the management of a certain organization, and investment inefficiency as renouncing investment on positive net present value projects or choosing negative net present value ones. In order to measure the managerial ability the model developed by Demirjian et al.(2012) and to measure investment inefficiency the Chen et al.’s expanded version (2011) of the model developed by Biddle et al. (2009) was used. The results of this investigation shows that, according to the review of literature, there is an inverse relationship between managerial ability and investment inefficiency; however, this relationship is not statistically significant

Risk management is an integrated procedure which helps banks to measure and control their risks. Due to the recent banking crises and nature of banking activities, central banks have made it compulsory for banks to have independent risk committees. Also, financial instability is another factor which can lead banks to distress and bankruptcy. This study investigates the simultaneous relationship between credit risk and liquidity risk and their impacts on financial stability of Iranian banks over the period of 2005-2014 using panel data approach. Results of the simultaneous equation modeling show that in general, liquidity risk and credit risk have significant positive relationship with each other. In other words, every one unit increase in liquidity risk will cause the credit risk to increase by 0.38 unit and every one unit increase in credit risk leads to 0.51 unit increase in liquidity risk. Moreover, we employ the quantile regression to examine the effect of these two types of risk on the different quantiles of financial stability of commercial banks in Iran. Results show that credit risk and liquidity risk negatively affect the financial stability and increase probability of bankruptcy of the Iranian banks. Moreover, we demonstrate that the magnitude of the negative impact is much higher for the banks in the lower quantiles that have lower financial stability comparing with the banks in upper quantiles having higher financial stability.

The relationship between different types of risk and their impacts on financial stability is very important for the banking industry. Due to lack of consensus regarding the relationship between these risks in the banking industry, especially the relationship among credit risk and liquidity risk, this study examines the simultaneous relationship among these two risks and their impacts on the financial stability of Iranian banks during the period of 2005-2014 by using panel data approach. For this reason, we have used the simultaneous equation modeling to test the relationship between liquidity risk and credit risk. Also, we have used the generalized method of moments (GMM) to assess the impact of these two risks on financial stability. Results show that, in general, liquidity risk and credit risk have a significant positive relationship with each other. Moreover, using GMM we found that these two types of risk negatively impact financial stability and increase the probability of bankruptcy of the Iranian banks.

This study is designed investigate the investors reaction to corporate social responsibility disclosures. The reaction of 240 investors divided to two groups of sophisticated and less sophisticated was surveyed using questionnaire. The sophisticated investors involved market analysts and less sophisticated investors involved financial management MA college students. The purpose of the study was to compare the reaction of two groups of investors to 4 types of social responsibility behaviors. In order to test the hypotheses, ANOVA was used. The purpose of the study was to compare the impact of 4 types of social behaviors on investors and to compare the sophisticated and less sophisticated investor's reaction to social behaviors. The results of the study revealed that investors react to social responsibility behaviors, but there is no significant difference between sophisticated and less sophisticated investor's reactions.

The purpose of investing in any property or institution to maintain capital in addition, is yield that in this direction predicted yield for potential investors, actual and financial analysts is important.Present research, a new method has provided for analyzing and forecasting stock return. In this method, the operational assets considered by Sloan in 1996, is used as a new variable to predict the stock return. This research relationship between net operating assets and abnormal stock returns has investigated companies accepted on Tehran Security Exchange if any relationship can be meaningful, can be used study results to predict the stock return. In order to, for companies accepted in Tehran Stock Exchange, as the statistical community, the number of 95 companies eligible for the above research were selected. The results of the research after applying F test and regression analysis conducted in this study showed that there was not a significant relationship between net operating assets and abnormal stock returns. In other words, information contained in balance sheet in the investors decision making to determine the stock returns and abnormal stock returns no effect or balance sheet have no content information.