نشریه پیشرفت های مالی و سرمایه گذاری
پیاپی 2 (بهار 1400)

Considering the importance of the stock valuation models, the comprehensive study of these models can lead investors to use them correctly and make the right decisions in capital market. Therefore, in this research, one of the most widely used models, the P/E ratio model with nonlinear perspective, has been investigated and compared with linear model. For this purpose, by performing panel regression for the information of 182 companies in the form of 28 industries in Tehran stock exchange during the years 2009 to 2016, we find that the ratio of dividend payment has a nonlinear impact on P/E ratio and the relationship between price to earning ration and dividend payment ratio has convexity and its degree of convexity is conditional on the relationship of return on equity and shareholders required rate of return. Also, based on results of this study, the explanatory power of the nonlinear model is greater than the linear model. It is recommended that investors pay attention to the nonlinear model along with the linear model to achieve a better result.

The amount of information and data we retrieve and use is growing rapidly. Data mining is the process of extracting relevant data from large volumes of data and the method of discovering and finding the appropriate pattern from large volumes of data sets. Clustering is one of the most common methods of statistical data analysis, and also one of the best data mining approaches. This approach, as a method of unsupervised learning, uses algorithms to classify time series data according to different criteria. The purpose of this study is to investigate the types of applications of clustering and networking in various financial fields, including risk, algorithmic trading, banking and other widely used topics in this field. In this research, using the bibliometrix package in the software, all the researches on clustering is reviewed. While extracting various criteria and clustering approaches, its applications have been studied. This study with a comprehensive review of all research in this field can help researchers as a toolbox to provide a variety of clustering methods in ideation and selection of appropriate methods in classifying and analyzing financial data.

Provision and presentation of quality information is a prerequisite for decision making by stakeholders of business units. One of the features of this information is having the ability to compare with other peer companies, as one of the quality features of this information. Social responsibility can affect the qualitative characteristics of financial reporting. Therefore, the purpose of this study is to investigate the relationship between corporate social responsibility and the ability to compare financial statements as one of the most important features of financial reporting. To achieve the purpose of the study, the composite data of 114 companies listed on the Tehran Stock Exchange in the period 2010-2020 were analyzed using multivariate linear regression. Findings showed that there is a positive and significant relationship between corporate social responsibility and the ability to compare financial statements. Based on these findings, it can be said that social responsibility obliges company managers to adhere to their ethical commitments and provide accurate and quality information to their stakeholders. To do this, they use quality and similar standards and procedures that help reduce information asymmetries at the company level, employees, stakeholders, peer companies and even the capital market.

Evaluating the performance of the Iranian capital market is one of the important issues for users (investors). The most important users are the general public. Assessing capital market performance and reassuring users will maximize capital attraction and boost production. Iran's capital market will be responsible for performing the duties of protecting the rights of users. Articles 51 to 55 of the Constitution address the areas of responsibility for financial accountability and the legal right of citizens to know the facts. The purpose of this study is to evaluate the performance of the Iranian capital market by emphasizing the perspective of financial accountability, operational accountability, learning and growth. The present study is descriptive-survey in terms of applied purpose and data collection and its statistical population consists of auditors, brokers, managers of financial institutions and faculty members of the university who work in the capital market. The research sample is based on Cochran's method and using Morgan table, 290 people, and the research period is 1399. In this research, a researcher-made questionnaire has been used, the validity and reliability of which has been determined by obtaining the opinion of professors, professional experts and capital market experts. SPSS software and t-test were used to test the research hypotheses. The results show that the indicators and components of capital market performance evaluation are evaluated with emphasis on financial accountability perspective, operational accountability perspective and the perspective of optimal learning and growth.

Technology is an everchanging phenomenon which effects widely to organizations. Enterprise Resource Planning (ERP) systems influenced management accountants’ job description in the past and nowadays Business Intelligence transforms their roles even further. This research study intentions to update existing, traditional management accounting query and decisions system, in a holistic sense, so management accounting can improve and reclaim its leading role in decision-making. The main role of management accounting is to use available information in the best possible way to make the best possible decisions. Handling information to great possible use in order to increase the efficiency of management accounting information system can be achieved through the adoption of Business Intelligence tools (BI). Business intelligence tools such as ETL (Extract, Transform, and Load), OLAP (Online Analytical Process), DWH (Data Warehouse) intruded and have been addressed.Traditionally management accountings are seen as the primary support for decision-making and control in an organization. As respects such it has clear connections to and can benefit from applying Business Intelligence technologies. However, a review of the literature in top accounting and information systems journals shows that to date little research has focused on this subject and connection. Therefore, in this study, we analyse the exist studies, review their findings, and discuss the implications and opportunities for research. Therefore, the purpose of this study is to investigate the positive impact of using business intelligence tools on modern management accounting by making the decision-making process more effective.

The purp ose of this study wa s to investing ate the re lationship bet ween audit q uality and stoc k pric e de lay with modern ating to le of info rmation asymmetry in T S E. This rese arch was studies d in tw o hypotheses. The findings of the study showed that there I s a negative and sign ficant relations hip betwe en audit quali ties and stock price delay using the least-squares method. Also, the relation ship between audit quality and stock price delay with the mode rate role of the in formation sym metry variable is negatively corrected and reduced. Findings of the res ear ch indicate that due to the important nce of st ock price delay in mar k et effic iency, it is nec essary to p ay attention on to the is is ue a nd its effective va riables.