Iranian Journal of Accounting, Auditing and Finance
Volume:5 Issue: 3, Summer 2021

This study investigates the dynamic linkages between the efficiency of 126 selected banks and the Single Monetary Policy (SMP) defined by credit channel, interest rate channel, exchange rate channel, and price stability in 17 Euro area countries from 1999 to 2012. The dynamic generalised method of moments (GMM) estimator shows a positive relationship between the bank's cost and profit efficiency and bank lending and liquidity by estimating the two-stage panel regression model. Still, capitalisation, exchange rate, inflation targeting (price stability), long term interest rate targeting was associated with lower cost and profit efficiency scores. Therefore, the impact of the Maastricht Protocol targeted policy, coefficients of inflation and long-term interest rate targeting variables are negatively related to the bank efficiency level. Specifically, on average higher bank lending, liquidity and deposit facility can be associated with improving profit efficiency of banks. In contrast, capitalisation, exchange rate, inflation targeting, and long-term interest rate targeting variables had a negative effect on cost and profit efficiency levels. The policy implication arising from the analyses presented is that the European monetary authority has faced significant pressures of inflation targeting and long-term interest rate targeting policy on bank performance that negatively influence bank efficiency.

This paper aims to examine the effect of financial literacy on investors' financial risk tolerance among investors of the Tehran Stock Exchange. The research sample selected by available methods includes 384 investors of the Tehran Stock Exchange in the first half of 2020. The standard questionnaire of financial literacy and financial risk tolerance of Yaghoubnejad et al. (2011) and Carina & Lisa (2015) has been used to measure the research variables and test hypotheses. The content and face validity methods and factor analysis were used to confirm the validity of the questionnaire, and its reliability was evaluated using Cronbach's alpha coefficient. Structural equation and PLS methods have been used to test the research hypotheses. The research hypotheses test results showed that earning money literacy, investment literacy, spending and borrowing literacy and financial risk literacy as components of financial literacy has a positive and significant effect on financial risk tolerance. But savings literacy does not affect financial risk tolerance.

Human resource is one of the most critical resources of any organisation that can play an influential role in different functional departments of companies. One of these practices is tax avoidance, which may occur due to the company's poor economic condition. In this study, we intend to investigate the relationship between the inefficiency of investment in human resources and tax avoidance in companies in Iran as a developing country. The research method used among the companies listed on the Tehran Stock Exchange is quasi-experimental with a post-event design. A sample consisting of 108 companies from 2013-2020 was examined using multivariate regression and panel data. The results of examining and analysing the hypotheses showed that over-investment and under-investment in human resource has a positive and significant effect on corporate tax avoidance. It seems that over-investment in human resources leads to an increase in administrative and sales costs (agency costs), and under-investment in human resources leads to a decrease in productivity. Companies tend to pursue policies to survive in competition with other companies, and corporate executives pursue tax avoidance as a helpful solution in this regard.

In the present study, a comprehensive, scientific, and practical pattern is presented for the first time by relying on theory on potential remedies to manage talents in accounting and auditing using the qualitative method of the grounded theory approach. The study's statistical population includes a combination of 16 university scholars and accounting and auditing executives (or both) selected in 2020 using the targeted sampling approach based on the theoretical saturation rule. Data are gathered via interview by using the general guidance method in semi-structured form. Two methods of participants’ review and review of non-participating experts are used to achieve validity and reliability of data. The main focus of the study is meritocracy for accounting and auditing. The issue is posed in three concepts of reaching a consensus about the definition of talent, creating a culture of talent management, and regularization of talent management process(attract, raise, and hold) and some strategies are formulated, and final pattern is mapped out regarding the rationale, background, and intervening conditions. By developing theory on potential remedies, this paper proposes some clear outlooks for planning and benefiting from talent management to lower human resources costs and increase efficiency in accounting and auditing.

The present study is concerned about the relationship between the board characteristics and intellectual capital efficiency in companies listed on the Iran and Iraq Stock Markets.A multivariate regression model is used for this study. Research hypotheses were tested using a 903 firm-year observation sample from the Tehran Stock Exchange and 280 firm-year observations from the Iraq Stock Exchange during 2012-2018 for both counties based on multiple regression patterns and pooled data techniques. The results show that there is a significant relationship between board characteristics and efficiency of intellectual capital, which means there is a negative and significant relationship between the board independence, the board size, CEO ownership, and CEO gender, and intellectual capital and a positive and meaningful relationship between CEO change and intellectual capital both in Iran and Iraq. However, while the relationship between board independence and intellectual capital is negative in Iraq, such a relationship is positive and significant in Iran.

Professional turnover is a primary concern for the audit profession, as reported in many recent professional reports. Also, based on the official reports by Iranian authorities in 2019, the average retention period for Iranian auditors was 571 days which is too low compared to global statistics. Therefore, this study aims to identify the factors affecting professional turnover intention. In line with this goal, this research has been done using a qualitative meta-synthesis approach. The present study's data collection tools and information are past documents in this field, including 70 articles. The method of data analysis is based on open coding. The results indicate that the factors affecting professional turnover intention can be classified into seven general categories: individual factors, occupational factors, occupational and organizational attitudes, intra-organizational links, organizational climate, characteristics of audit firms and characteristics of the profession. In the end, based on the research findings, possible suggestions are given.

The present study's primary purpose is to investigate the relationship between the company's market value, capital expenditures, value creation, and the product market power of the companies listed on the Tehran Stock Exchange. The study's statistical population consists of 129 companies during 2013-2018. The Combined data method has been used to test the research hypotheses. The Herfindahl–Hirschman, the Lerner, and the Industry-adjusted Lerner Index measure product market power. To measure the company's market value, Maditinos et al. (2011) were used to measure capital expenditures. The model presented in Liao, Lin and Lin, (2016) has been used, and the Pulic Model (2004) to measure value creation. The results show a positive (negative) correlation between the market value of the company and the Herfindahl–Hirschman Index and Lerner Index (Industry-adjusted Lerner Index). There is a positive (negative) correlation between capital expenditure and the Herfindahl–Hirschman index and Lerner Index (Industry-adjusted Lerner Index). The results show a negative (positive) correlation between value creation and the Herfindahl–Hirschman Index (Lerner Index and Industry-adjusted Lerner Index).