جستجوی مقالات مرتبط با کلیدواژه "سود پیش بینی شده" در نشریات گروه "حسابداری"

Given the authenticity of the financial statements presented, accruals based on accrual accounting should be able to reflect valuable information about the company's current position and future market prospects. In this case, profits may reflect the personal interests of managers and cause analysts to err in their forecasts and lead to incorrect valuation of profits by the market. Now this research was to examine whether the management of excessive threshold profits will mislead the market or not? By applying the proposed restrictions, 167 companies listed in the 10-year period between 2011 and 2022 in the Tehran Stock Exchange have been selected as a sample of this study. The result of testing the first hypothesis shows that at the 99% confidence level there is a significant direct relationship between earnings forecast error and earnings management. Confirmation of this hypothesis means that by manipulating earnings through accruals, there is a significant difference between earnings per real share and earnings per forecast. The results of testing the second hypothesis indicate a significant positive relationship between earnings forecast error and abnormal returns of new shares listed on the stock exchange, which ultimately indicates the content of variable earnings information. In other words, the announcement of a projected profit causes a deviation in the average abnormal rate of return on stocks. In general, the results of this study show that if managers make mistakes in their calculations for forecasting next year's profit or change their forecasts, investors will have a higher rate of return on capital in proportion to the increase in the percentage of profit forecast errors and the number of times the managers revise their forecast. They demand it themselves. Companies that do not achieve the expected profit or constantly change their forecasts do not have much stability, so they may not meet the expectations of investors.

In this paper, headline earnings reporting and it’s value relevance components have been studied, using data from companies listed in the Tehran Stock Exchange (TSE). To test the relative and incremental value relevance, regressions for price and return levels within Ohlson (1995) model were used.
The data from a sample of 72 companies listed in the TSE, in the period 2003 to 2014, was used. The results of price levels regression showed that the headline earnings, in contrary to the headline earnings exclusions, have incremental value relevance. Also, the results of return levels regression, indicated that the headline earnings, in contrary to headline earnings exclusions, lack incremental value relevance. For relative value relevance, the test results of Vuong (1989) in price levels regression showed that the headline earnings have not relative value relevance more than basic earnings. This test in return levels regression showed that the headline earnings have relative value relevance more than basic earnings.

The main purpose of investing is getting return. Return consists of dividends and increase in stock price. Changing in stock price for investors is very important and factors like predicted profits may have an effect on stock price. So predicted profit for investors is important and this information can help them make better decisions or affect their decisions about buying, selling or holding a stock. Reactions of investors to predicted profit affect the market.
In an efficient market, stock price reflects all information, and determining the real price of stock is the most important task of market; in non-efficient market some information and reactions of real and potential investors may affect stock price. Predicted profit may also affect volume of stock transaction and numbers of stock buyers. The study includes 153 Companies during the period of 1380-1392. Data is analyzed using Panel data; furthermore, the correlation between variables are investigated using regression. The aim of this paper is to investigate the effects of predicted profits on stock price of companies listed in the Tehran Stock Exchange.
Research Hypotheses: Research hypotheses are described as below: 1. There is a significant relationship between predicted profits and stock price.
2. There is a significant relationship between predicted profits and volume of stock transactions.
3. There is a significant relationship between predicted profits and number of stock buyers.
Research In order to achieve the objective of the study we have used data of 153 listed companies on Tehran Stock Exchange for the period of 1380-1392 to test the above hypotheses. Collected data were analyzed with Eviews econometric software. The panel regression was used to test the hypothesis.
Variables are: predicted profit, stock price volume of stock transaction and number of stock buyers.
The results of regression analysis of the first hypothesis show that there is a positive relationship between predicted profits and stock price. At the beginning of the period one percent increase in predicted profits caused 18percent increase in stock price at 95 percent confidence level, but at the end of the period one percent increase in predicted profits resulted in 18 percent increase in stock price at 95percent confidence level.
The results of regression analysis of the second hypotheses show that there is a positive relationship between predicted profits and volume of stock transactions; at the beginning of the period one percent increase resulted in 22 percent increase in volume of stock transaction at 95 percent confidence level, but at the end of the mentioned period one percent increase in predicted profits caused 36 percent increase in volume of stock transaction at 95 percent confidence level.
The results of regression analysis of the third hypothesis show that there is a positive relationship between predicted profits and number of stock buyers. At the beginning of the period the Coefficient was not meaningful, but at the end of the period at 90percent confidence level, one percent increase in predicted profits caused 6 percent increase in number of stock buyers.
This study was conducted in order to investigate the effects of predicted profits on stock price of companies listed on the Tehran Stock Exchange. There are some limitations in predicted profit such as lack of the reliable information about companies listed on Tehran Stock Exchange, lack of major trading, companie's transactions were stopped temporary or in short term, because of sending information out of time. The information of companies in different resources is different and integration of this information is very difficult.
The results of this paper can help real and potential stockholders decide properly and also stock market to determine the real stocks prices.

This study investigates how the market reacts to a negative revision of management earnings forecast (bad news) and late announcement of this news. The study spans the period of 2004 (AHS) to 2011. The linear multivariate regressions have been used to test the hypotheses. We found that market reacts negatively to bad news but late news are followed by a positive market reaction. Also, there is no difference in market reaction to late and on time bad news. But late announcement of good news is followed by a positive differential reaction, as compared to on-time announcement of it.

In two recent decades, researches focus has been turned from the relation between earnings and returns or stock price behavior towards earning quality, financial reporting quality and their effects on capital market. Besides, information asymmetry and its consequences are among the most vital issues to be dealt with in all the capital markets including Iranian Capital Market. Therefore, this paper, relying on the theoretical principles, attempts to examine the relation between earnings quality and information asymmetry in the firms listed in Tehran Stock Exchange as between 2004-2008.To examine the research hypotheses, different testing methods (Mann-Whitney Test, Sign Test, and Wilkakson test) have been applied. The findings of the study show that the difference between the information asymmetry of the companies with low earnings quality, on the one side, and the companies with high earnings quality, on the other side, is not significant. Also the levels of information asymmetry have increased in the period after the earnings announcement, as compared to the period before it. To examine the research hypotheses, different testing methods (Mann-Whitney Test, Sign Test, and Wilkakson test) have been applied. The findings of the study, finally, revealedthat the difference between the information asymmetry of the companies with low earnings quality, on the one side, and the companies with high earnings quality, on the other side, is not significant. The findings also showed that the levels of information asymmetry have ascended in the period after the earnings announcement, as compared to the period before it.

Of the criteria that have been paid attention by the investors are the cost of capital and the growth rate of the companies and corporations. To focus these criteria، the objective of the present research is to propose a model for evaluating the capital cost and growth rate. This study would be categorized as a practical and descriptive research for its objective، nature and method respectively. The sampling method used in this study is the systematic elimination method in which 79 accepted companies and corporations in the Securities Exchange Commission of Tehran were selected as a sample in the interval of 1379- 1391. In order to evaluate and compare the cost of credits and growth rate of the companies and corporations with the real values، the simple and extended models were used. The t-test results revealed that there is no possibility to evaluate the cost of capital، although، the growth rate can be obtained by the aid of extended model coefficients.

Stocks Valuation needs information related to the level of company’s profitability. Investors and managers should pay attention to historical information in decision making regarding stock valuation and forecasting the future earnings. In this paper، the theory of earnings components superiority was compared with the total earnings in explaining the future earnings. It was also evaluated whether or not managers and investors consider the earnings components in their decisions. Furthermore، the way of earnings components weighted by investors and managers was tested. For these purposes، the data of 80 companies listed in Tehran Stock Exchange (480 years-firms) for a period of 1382-87، was collected. The results revealed that persistency of different components of earnings is not the same and components of earnings are better explains future earnings compared to the total earning. The earnings components are also taken into account by the managers and investors in their decision-making process. Furthermore، managers and investors underestimate the cash components of earnings persistency in forecasting the future earnings.

Profit as the most important factor of measurement of an operation of an entity, is one of the topics of accounting which has secured its special place in the theoretical issue for a number of years. Accounting from the beginning of 20th century has started its activity in the scientific and classic form. In the last number of decades, especially from the year 1960 onward after efficient market hypothesis (EMH), with the start of experimental --evidential researches by Ball and Brown about the content of information pertaining accounting earning was able to stable its theoretic fundamentals on the basis of evidence. In this research, the content of information of predicted profit is studied. The results reported here indicate that Earning Forecast by companies possessing information and efficiency content and from this purpose the importance of prediction of accounting earning due to its role and effect in the decision takings of users especially investor's is considerable.