جستجوی مقالات مرتبط با کلیدواژه « institutional investors » در نشریات گروه « مدیریت »

  This paper is to investigate the effect of the policy of institutional investors, price synchronization and profitability index on the risk of falling stock prices between 2011-2015 (1390-1394).
Research The research is conducted through desk resarch and statistical analysis. To test the hypotheses, the regression and correlation coefficient as well as the t-test are used to determine the stationarity of variables Fisher’s ADF test were used Further more, to estimate the model panel method and the F lemmer test as well as Hausman test were used. Also, Excel and Eviews 8 software were used to analyze the data and to test the assumptions of the research. The results indicate that there is a negative and significant relationship between the policy of institutional investors with the risk of falling stock prices, which means that the existence of institutional investors has the incentive and management ability to hide or delay the publication of bad news. This eventually reduces the likelihood of falling stock prices. There is also a positive and significant relationship between stock price synchronization and the risk of falling stock prices. Increasing synchronization will increase the risk of falling stock prices. There is also a negative and significant relationship between profitability and the risk of stock price collapse, so that increasing company profitability significantly reduces the risk of stock price collapse

This study tries to examine the effect of monitoring mechanism of Corporate Governance to decreasing the Earning Management Intensity. Intensity of earning management behavior is described on the basis of the 'threshold model' through bringing up the reported earnings to thresholds. It consists beating the benchmark (thresholds) and not doing so. Our empirical tests are conducted by regression analysis using data 185 listed firms with fiscal years 1382-1388, and pooling time series and cross-section data. The results of empirical tests indicate that with α=0.01 there is income-increasing earning management behavior both each thresholds. Examining the role of monitoring device of corporate governance in intensity of EM behavior that is tested by logistic regression and U Mann Whitney indicates that monitoring device don’t restrict it. Only when pre-managed earning are below last period’s reported earning outside directors and institutional investors influence the likelihood that reported earnings exceed the thresholds

The corporate governance system has engaged in circumstance of manage and control of corporate, and especially the role of board of directors in this connection, and explains framework of an effective answering system. Corporate governance can be cause decrease of earnings management (decrease of discretionary accrual). Two basic mechanism of corporate governance system are: 1) institutional investors and 2) Board of directors. In this article we will engage in relationship between these two mechanisms with earnings management. In this research, we examined the relationship between institutional investors and board of directors with Earnings management in the companies accepted in the Tehran stock exchange. In the way of this goal, 75 accepted companies in the Tehran stock exchange had been chosen during 2004-2007. In this research, we adopt discretionary accrual measure of earnings management. Statistic results showed that there is a significant relation between institutional ownership, managerial share ownership and the number of outside directors with earnings management. That is, increase institutional ownership, managerial share ownership and the number of outside directors can be cause decrease of earnings management.

Since difererent aspects of corporate governance could result in considerable impacts on corporate performance, leaving remarkable changes behind, along the corporate life cycle, this article embarks on a research to analyze the impact of ownership stracture on financial performance, taking the life cycle of the corporations in mind. Accordingly, four factors, namely "ownership concentration", "institutional investors", "non-executive directors", and "free float shares" are taken as the dimensions of corporate ownership; in the meantime, Return on Asset (ROA) and Return on Equity (ROE) are employed as a criterion to appraise the performance of corporation. The role of "life cycle", as the adjusting factor of such a relationship, in addition to the "sum of sales and assets" are, in turn, tested as controlling variables of the research. The population and samples of the research consist of 252 companies, listed in Tehran Stock Exchange in 2013. In order to test the hypotheses, after having gone through multicollinearity, Kolmogorov–Smirnov tests, the Hierarchical Multiple Regression method was put to use. The findings of the study illustrated the impact of "non-executive directors" and institutional investors" on the financial performance, taking into account the corporation's life cycle. Moreover, the results further indicate that the relationship between "ownership structure" and "corporation's performance" varies during differing stages of the life cycle continuum.