فصلنامه پژوهش های حسابداری مالی
سال یازدهم شماره 3 (پیاپی 41، پاییز 1398)

Since the first classical study conducted by Beaver (1968), the importance of quantification of the information content of accounting figures and its effect on the decisions of investors is the attention paid by the researchers he aim of this study is to provide a model for measuring the content of the message in general and financial statements in particular. This model will be able to extract the information contained in the figures of financial statements and make it possible to predict the firm's performance even though the facts are not readily acknowledged. in the aim of this study, 60 companies listed in tehran stock exchange in tehran stock exchange during the period 2000 to 2017 were analyzed. the results showed that the ratio of the lack of reliability of operational earnings and net profit, operational income, net profit and the sum of assets have generated more information content compared to the uncertainty ratio of individual variables, and reduces the concern of investors. this relation has a negative relationship with the future return of the company.

The purpose of this paper is investigating the certain point of inflation and optimal level of working capital management and its impact on the financial performance of the companies. Inflation variable is measured using the Consumer price index and the measurement of the working capital management is done using the variable of Net working capital. Financial performance variable is measured using the variable of return on assets ratio. To achieve this goal the data of 90 companies listed in Tehran Stock Exchange during the financial periods from 2008 to 2017 is used. The results of this study showed that there is a non-linear and inverse U-shape relationship between Inflation and financial performance. This means that as the inflation increases the financial performance of firms will increase, but when inflation reaches a certain point, the financial performance will decrease as the inflation increases. The results showed, this is the critical point inflation for Iranian firms, 14 percent and for firms with positive working capital 17 percent. Also, the results showed that there is a non-linear and inverse U-shape relationship between working capital and financial performance, which indicates the existence of an optimal working capital level for firms. This study also reveals that working capital management is an important factor in the relationship between Inflation and financial performance.

Disclosure of useful and high-quality information can improve investor decision-making in the capital market. One of the channels of Information disclosure in the capital market is the management commentary. The purpose of this study is to investigate the effect the quality of disclosure of the business nature of the management commentary and the financial performance of the company on the decision-making of investors. To test the research hypotheses, a scenario-based questionnaire has been used. The period of research is 2018. The statistical population consists of all active professional investors in Tehran Stock Exchange (TSE) and the research sample consists of 160 professional investors. The results of the study showed that professional investors tend to more ( less) investment in a condition which the quality of business nature disclosure is high (low). Also, the results of the research point out that in condition of incremental (decrease) financial performance, the high (low) quality of business nature disclosure is increases (low) the willingness of professional investors to investment. In addition, the results of the research indicate that with increasing (decreasing) the quality of business nature disclosure, professional investors ' decision-making on the earnings persistence of company is increases (decrease).

Understanding cost behavior is one of the important discussions of industrial accounting and management accounting. The basic assumption in the traditional literature of cost accounting is that for any increase and decrease in activity level, there is a symmetrical relationship between costs and activity level; that is, the magnitude of changes in costs regardless of the direction of change depends only on the change in the amount of the surface activity. The prospect of future earnings, its stickiness, and the cash returns of the stock, due to the objectivity and tangibility, have a special place in the analysis of a group of stakeholders with technical knowledge. Therefore, attention to the issue of stickiness of the prospects of future income as a new feature of costing looks necessary. The Purpose of this research is Effectiveness of future earnings prospects stickiness of cognitive disorders CEO. The sample of this study includes 206 companies accepted in Tehran Stock Exchange during the period of 2009-2016, which was investigated using multivariate linear regression using Eviews software. The results of the research indicate that there is a meaningful relationship between the three criteria and the stickiness of the prospects of future earnings. This relationship was positive in both cases of optimism and optimism in terms of optimism among the three criteria of the rest.

Anomaly is deviation from common rules. In finance; it can be defined as a pattern in the average of stock returns that is not consistent with the prevailing asset pricing models literature. For anomaly investigation, two common methods are used: portfolio approach and individual firm approach. The aim of this study is to examine accounting anomalies of Fama and French three-factor model at the individual firm level due to the weaknesses of the portfolio approach. The sample consists of 1150 firm – year (13800 firm-month) observations in Tehran Stock Exchange in the period of 2008-2017. Bayesian approach and standard Markov chain Monte Carlo simulation have been used to test hypotheses. The results of the research show that size, book value to market value, profitability, asset growth, working capital accrual items, investments, net stock issuance and external financing, cannot be interpreted as anomaly for Fama and French three factors model when the test is at the individual firm level.

The purpose of this study is to investigate the effect of management behavioral strains on financial distress at companies listed in Tehran Stock Exchange. Research sample consists of 150 distressed year-companies and 150 healthy years-companies for overconfidence, 165 distressed year-companies and 165 healthy years-companies for myopic,112 distressed year-company and 112 healthy years-companies for narcissism in the period of 2009 to 2017. To separate distressed and healthy companies, Asquith et al (1994) criteria is used and model is fitted using binary logistic regression. Research findings show that management behavioral strains including overconfidence and narcissism have a positive and significant effect on financial distress but myopic has not such an effect. So, Managers’ overconfidence and narcissism increase the likelihood of financial distress