firm performance

The opportunistic behavior of credit risk as well as corporate behavior is strongly challenged by the institutional change of a country, such as the privatization process and the turnovers of managers at the top of the board. The new CEO can significantly influence the company's activities and ultimately increase profits. However, the new CEO also brings significant uncertainty to the company, which can affect its credit risk. In this research, a comparative study of the relationship between company management change and A comparative study of the relationship between Management turnovers with credit risk and Firm performance in companies subject to Article 44 before and after the handover was done. the sample includes three groups of companies that have been assigned through the stock exchange and OTC, negotiation and auction methods. The data of this research were collected and tested between 2014 and 2021. The results showed that there is an inverse and significant relationship between the Management turnovers and credit risk in companies that have been assigned through the stock exchange and over-the-counter, negotiation and auction and there is an inverse and significant relationship between the Management turnovers and return on assets, return on equity and equity of the company.

Based on higher ladder theory, the present study is an attempt to evaluate the relationship between CEO overconfidence and company performance. This study also examines the moderating role of board independence in this context. Using the considered limitations. 141 companies were selected as the research sample in the period of 2016-2022. In order to test the research hypotheses, multivariate linear regression based on panel data has been used. . The empirical results of this research show that there is a positive and significant relationship between CEO confidence and company performance. CEOs with high self-confidence tend to make fast and experimental decisions and reduce the company's low investment problems and are more inclined to increase the overall performance of the company. Furthermore, the results show that independent board directors can turn the positive relationship between CEO overconfidence and firm performance into a negative relationship due to their limited knowledge of the industry and business. In fact, independent directors, as independent board members, may not be fully familiar with industry and business dynamics. They often take the main decisions of the company when necessary and therefore tend to reject the financial and investment proposals of the CEO. This may lead to a decrease in the financial performance of a company in the long run.

cpehdaf in pajoosh motaleh ye barresi tasir haram mali ve tamrakz malkit bar rabeteh bin sarmayeh gozari tahaqiq ve toseeh ve amolkard sharkat mi bashod. ghabel zekar est bazdeh zamani dar in pajoosh mahdud bah salenpehei 1392- 1400 mibashod, npamchenin in pajoosh daraye seh farzieh esli mi bashod. pajoosh enjam shodeh az nazar no cpehdaf joz pajoosh cpehei karbardi est ve rosh pajoosh az nazar manpanit ve mohtavayi npambastegi mi bashod. enjam pajoosh dar charchub estedelalat ghiasi- estegharayi sort garafteh est ve baray tajzyyeh ve tahlyle farzieh cpeha az tahlyle panely kamak garafteh shodeh est.

Given that managers play a crucial role in grounded and old theories such as agency theory, stewardship theory, and contracts theory, the concept of managerial ability and its measurement has attracted the researchers' attention. Recent dominant perspective emphasizes that manager's ability is reflected in the firm's performance. Therefore, measuring managerial ability depends on the separation of the manager's performance from the firm's performance, and the more the manager's contribution to the company's performance, the higher ability he/she has. The current study seeks to develop a model to measure managerial ability, taking into account the unique circumstances of the country in which the companies operate.

To develop a model for measuring managerial ability, a comprehensive approach is applied including systematic literature review, interpretive analysis of interviews with experts, and a descriptive method. In systematic literature review domestic and foreign studies and reliable information sources and databases is applied based on specific related keywords. Additionally, interviews with experts such as executive managers, financial managers, internal and external auditors, and academics were analyzed using interpretive analysis based on chain sampling. To run and validate the designed model, data from 158 firms listed on the Tehran Stock Exchange (TSE) across 12 industries from 2012 to 2021 is used. Triangulation was employed to evaluate the research validity, considering multiple dimensions including methodology, data, and the researchers. This rigorous approach ensures the reliability and robustness of the model developed for measuring managerial ability.

According to the research findings, we focus on three areas of performance indicators (PI), namely operational, financing, and dividend performance indicators. The performance indicators, as dependent variable, represent different aspects of firm performance based on managers decision-making process and the status of firms in real world. Variables such as firm size, firm age, the percentage of active institutional shareholders, export sales, and transactions with related parties represent the inherent characteristics of each company as independent variables. Considering environmental conditions and performance indicators are very important in determining related variables. By running Tobit regression, the residual value is considered as managerial ability measurement or managers’ contribution in firm performance. Furthermore, the comparison of the designed model and the model developed by Demerjian et al. (2012), as the most widely used model in prior literature, in terms of log-likelihood and information criteria including Akaike Information Criterion (AIC), Schwarz Criterion (SC), and Hannan-Quinn Criterion (HQ) at the overall and industry-specific levels shows that our model has higher goodness-of-fit.

Generally, by combining operational, financing, and profit distribution indicators, as well as taking into account shareholder structure and intra-group transactions, this model provides a more proper measurement of managerial effectiveness and it can be a basis for selecting managers and determining appropriate remuneration methods.

The present study examines the relationship between management overconfidence and company performance with the manipulation of accruals and the moderating role of the company's life cycle in companies listed on the Tehran Stock Exchange. This research is an applied research in terms of its nature and descriptive method and in terms of its purpose, and since in the present research the current state of the variables has been analyzed by collecting information through past information, it is in the ranks of descriptive studies. And it is included after the event. In the course of conducting this research, eight hypotheses were formulated and 131 companies were selected through systematic elimination sampling for the 8-year period between 1394 and 1401, and the data related to the research variables were collected in Excel software using the software Amari Evioz version 10 were analyzed. The results of the hypothesis test showed that there is a significant direct relationship between the overconfidence of the management and the performance of the company with the manipulation of accruals. Also, firm life cycle moderates the relationship between management overconfidence and firm performance by manipulating accruals.

The novel Coronavirus (COVID-19) has rapidly spread all over the world. The first diagnosed cases in Iran were confirmed on 19th February 2020.The COVID-19 pandemic has a concentrated influence on all aspects of life as well as corporate activities; One of the most important issues that has been affected by the spread of the Corona disease is performance and financial reporting quality. The purpose of this study is to evaluate the effect of COVID-19 on corporate governance, financial reporting quality, and firm performance. For this purpose, the information of 180 companies listed on the Tehran Stock Exchange from 2019 to 2022, is reviewed. The study indicates no relationship between corporate governance and performance. And coronavirus make negative the relationship between corporate governance and performance and corporate governance and financial reporting quality. And coronavirus make negative the relationship between corporate governance and performance and corporate governance and financial reporting quality. and

One of the models that is used to measure the efficiency and decision support is DEA, but considering all the merits, it also has its own limitations, which has led to the idea of combining it with artificial neural networks. ANN is increasingly used in model and data-based approaches to enrich analytical and predictive capabilities and thus improve decision-making. The present research presents a model for evaluating the efficiency of units by integrating neural networks. The studied sector is the active pharmaceutical industry in the Tehran stock market. To create the model, the efficiency of 4 DEA models on a variable scale, including input-oriented and output-oriented BCC model, SBM model and RAM model during the years 2018 to 2022 was calculated in GAMS. The efficiency values of these four models were ANN'S education vector. Also cost, income and profit data from 2018 to 2022 was entered into MATLAB as ANN'S input. To generalize education, the data of 2023 was used. The results showed that the trained efficiency boundary shows a more comprehensive and accurate approximation of efficiency for the ranking of pharmaceutical companies. The results of this research will help pharmaceutical companies in the fields of investment, resource allocation, predicting the results of policies and planning.

Considering the important role of managers in the success of firms, the present research investigates the effect of managerial ability and managerial incentives on the firm's performance. Specifically, this study investigates how the managerial ability factor can have a significant impact on the profitability and risk of firms. By doing so, this study can provide several policy implications about how managerial ability can influence a firm's decisions and its related business policies. The statistical population of this research is the firms admitted to the Tehran Stock Exchange during the period of 2015 to 2019 and the sample includes 140 firms. The data of the research was extracted from Rahvard Navin software and the panel data method was used to estimate the model. In this study, the independent research variable is the managerial ability (Demirjan et al. model, 2012) and managerial incentives (CEO cash bonus), and the dependent variable is the firm's performance, where the firm's profitability and risk indicators are considered as performance criteria. The results of the research show that the managerial ability and cash reward of the CEO have a positive and significant relationship with the firm's profitability, in other words, more capable managers with high managerial incentives can have better profitability. Also, the ability of the managers and the CEO's cash bonus has a positive and significant effect on the firm's risk. The coefficients and significance levels related to control variables also show that firm size, sales growth, and firm growth have a positive and significant effect on firm profitability and firm risk. Accordingly, management's ability and motivations can affect the firm's decisions, business policies, and the firm's performance, including the firm's profitability and risk.

This study examined the impact of innovation orientation on innovation performance and firm performance with the mediating role of strategic market planning capability and strategic marketing implementation capability. This is an applied, descriptive and survey research. A researcher-made questionnaire with a five-point Likert scale is used for data collection. To measure the questionnaire validity, formal and content validity and confirmatory factor analysis are used while Cornbrash’s alpha is utilized to measure the reliability. The statistical population consisted of 119 Ariadysel company employees which are evaluated in total and 115 questionnaires are returned. Questionnaire data are tested using SPSS 25 software and hypotheses are analyzed using Structural Equation Method by Amos 24 software. The findings showed that the innovation orientation has a positive impact on strategic market planning capability and strategic marketing implementation capability and innovation performance. Also, strategic market planning capability and strategic marketing implementation capability have a positive effect on innovation performance. On the other hand, strategic market planning capability have a positive indirect effect on the relationship between innovation orientation and innovation performance. However, strategic marketing Implementation capability have no significant effect on the relationship between innovation orientation and innovation performance. In addition, innovation performance has a mediating role and strong positive impact in the relationship between innovation orientation and firm performance. Based on the results, it is suggested that the different units of the company continuously interact and communicate with each other in order to develop innovation and use different techniques (problem solving methods, simultaneous engineering, cross-functional teams and QFD) to create ideas.

Our country is among developing countries which represent interesting in regard to corporate governance mechanisms, because operating firms in them don't follow usual norms and incomplete commodity markets, managerial intellectual capital is prolific in those countries. Therefore, our research intends to examine the relationship between corporate governance and firm performance. A sample consists of 1,276 company-year observations (for 116 companies during 11 years from- 2011 to 2021. The data is extracted from audited financial statements and macroeconomic indicators are obtained from international databases (for example: The World Bank). Both categories of book value (return and asset and return on equity) and market value (Q-Tobin) performance indicators are used in this research to increase result credibility . Our findings show no relationship between board size and performance indicators (both market based and booked value based). Other findings implicate positive relationship between non-executive boards and performance. Finally, research results suggest negative adjustments in presence of institutional macroeconomic factors, some economic and institutional factors had negative adjustment in presence of ROA and ROE. Using marketbased proxy for company performance provided similar results regarding negative adjustment of institutional macroeconomic factors.

Pyramidal and network ownership structures, which give ultimate owners greater control rights over companies than cash flow rights, are prevalent in the Iranian stock market. Given the complex shareholding networks and significant changes in the ownership structures of large Iranian firms over the past two decades, this study aims to examine the relationship between ownership structure and company performance. Four measures are used to analyze ownership structure: cash flow right of the largest shareholder, wedge between control right and cash flow right of the largest shareholder, difference in cash flow rights of the two largest shareholders, and type of ownership. The study investigates their relationship with the performance and stock returns of 261 listed companies during the period of 2015 to 2020. The results indicate a positive and significant association between the cash flow right of the largest shareholder and firm performance, but only when the largest shareholder owns at least 15% of the company's shares. For firms with only one owner and less than 50% in control rights, there is no significant correlation between the cash flow right of the largest shareholder and performance. The study also reveals that ownership by insurance companies has a positive correlation with firm performance, while quasi-governmental ownerships have a negative correlation with performance.

The purpose of this research is to use the meta-analysis approach in order to analyze and combine the contradictory and incompatible results of the studies conducted in the field of investigating the relationship between social responsibility reporting and corporate performance, taking into account different performance measurements. These measures include Return on Equity, Return on Asset, Tobin's Q index, Earnings per Share and Net profit Margin. To achieve this goal, by applying the approach of Lipsey and Wilson (2001) as well as the Q tests of Cochran and Egger, 37 studies including 7 domestic articles in the period of 1378 to 1401 and 30 foreign articles in the period of 2000 to 2022 were examined. In these studies, social responsibility reporting was considered as an independent variable and company performance as a dependent variable. According to the findings of the research, with the meta-analysis of all eligible studies and the compilation of all performance indicators, there is no significant relationship between social responsibility-reporting and company performance. Also there is no significant relationship between social responsibility reporting and the two indicators: Return on equity and Net profit Margin. However, there is a significant relationship between social responsibility reporting and three indicators: Tobin's Q, Return on Assets and Earnings per Share. Considering the significant relationship between social responsibility reporting and three financial performance indicators, managers are advised to pay more attention to social responsibility reporting, which is the bridge between business units and stakeholders, because improving social responsibility reporting can lead to improved firm financial performance.

The developmentof a new system of corporate governance after the collapse of Enron and WorldCom in the early years of the 21st century at the global level and the acceleration of the process of handing over government assets simultaneously with the development of the capital market and the strengthening of institutional investment at the country level, the issue of ownership and its impact has made the performance of companies a controversial topic in the field of financial literacy. The purpose of this research is to investigate the relationship between the ownership structure and the financial performance of companies listed in the Tehran Stock Exchange. Based on this, the research investigated the effect of the relationship between institutional and government ownership on the financial performance of 146 listed companies on the Tehran Stock Exchange from 2012 to 2021 using the dynamic panel(Panel GMM) method. The research results indicate the positive effect of institutional ownership on the performance of sample companies. Also, performance metrics based on accounting information show a significant and negative relationship between government ownership and company performance. Other findings of the research show the positive effect of financial leverage and the positive view of shareholders towards the shares of large and growing companies in evaluating the company's financial performance