فصلنامه پژوهش های تجربی حسابداری
سال دهم شماره 2 (پیاپی 38، زمستان 1399)

The purpose of this study is identifying interesting accounting information for Tehran Stock Exchange investors with different personalities. In this regard, the NEO Multi-Personality Questionnaire (NEO-FFI) is used to determine the personality types of investors. The research method is a descriptive survey one. The statistical population of this study is all real investors who are active in Tehran Stock Exchange. In addition, the random sampling is used to determine a sample consisting 379 investors. One-Way Anova in SPSS software is used to test the hypotheses of the research. The results of the research show that the personality type of investors is an effective factor in their information interests, moreover, investors with more risk averse personality type are more interested in reliable information while investors with more risky personality type are interested in relevant information. Regardless of the different types of personality, almost all investors are very interested in obtaining information about the trading volume with related parties and auditor report. However, investors have shown the least interest in respect of sales growth information over the past ten years.

The purpose of this study is presentation of an agency cost model and simulation of these costs for Shiraz Petrochemical Company in a 100-month period.  In order to develop an agency cost model, firstly, using the historical recognition method in the framework of library studies, we extract the variables, mechanisms and relations existing between them. Then, a general and practical model is presented to simulate the agency costs of manager-owner for Shiraz Petrochemical Company using the software Vensim DSS. With the implementation of the developed model, it is found that the company's agency costs would increase over a period of 100 months. Therefore, several policies are introduced to reduce costs. These policies include the manager’s ownership of the stock (as a bonus) , an increase in the debt and the board efficiency. The results show that each of these policies, alone and in combination, can significantly reduce the agency costs. Introducing a systemic attitude in the field of accounting research, specifically the agency costs of manager-owner is innovation in this research.

Economic entities generally hold part of their assets in cash. Determining how much of the assets should be held in cash, is one of the important decisions taken by firm management. Despite of extensive investigations on determinants of cash holding level, in accounting literature, effects of product market competition on the relation between social responsibility (CSR) and cash holding in firms is largely unknown. So, this research is aimed to examine these effects. The sample consists of 84 firms listed in Tehran Stock Exchange during the period from 1390 to 1396. This study tests the hypothesis by the panel-data regression model. Results show that the product market competition and social responsibility have a negative and significant effect on the level of cash holding. In addition, findings indicate that the product market competition has a negative and significant effect on the relation between social responsibility and the level of cash holding.

Managerial forecasts of future profits will help investors make optimal decisions. Like other information, the value of these forecasts depends on their accuracy. Revision of past forecasts leads to a forecast error. The revisions result from new information. On the other hand, some managers revise their forecasts slowly in response to new information. This research investigates the relation between the sustainability of profitability signals and stickiness of manager expectations. The sample consists of 178 firms for the period of 6 years from 2011 to 2016. This study analyzes data and tests the hypothesis using panel-data and multi-variate regression methods. Findings show a positive and significant relation of manager expectations stickiness to sustainability of return on equity, the sustainability of gross profitability and the sustainability of cash flows. Moreover, findings indicate a negative and significant relation between manager expectations stickiness and sustainability of return on assets. Therefore, we can say that the stickiness expectations of managers have effects on sustainability of profitable signals.

In accounting literature, earnings information content is yet one of the unresolved issues in the financial reporting. In this regard, this study aims to identify elements effective on earnings information content by modelling these elements. Research method is descriptive correlational and quasi-experimental. The sample consists of 122 firms listed in Tehran Stock Exchange over the period from 2007 to 2016. In order to test the research hypotheses, SPSS and structural equation modelling software (PLS) are used. Research results show that audit quality increases the earnings information content. Also, a higher audit quality decreases the internal control weakness. There is a negative relation between internal control weakness and earnings information content. In addition, internal control weakness can play a mediating role in the relation between audit quality and earnings information content. These findings can improve the information content of accounting earnings thorough the audit quality.