نشریه پژوهش های راهبردی بودجه و مالیه
سال سوم شماره 4 (پیاپی 12، زمستان 1401)

One of the external factors affecting the financial reporting quality is the company’s social attitude to ensure the stakeholders interests as social legitimacy. Because accepting social responsibility strengthens disclosure, reduces information asymmetry and reduces business risk. The purpose of this study is to investigate the effect of social responsibility dimensions (Quantitative dimensions) on financial statement comparability. This research is applied in terms of purpose and correlation in terms of method. For this purpose, 984 year-company in the period of 2013-2020 were selected and analyzed using multivariate regression models in Eviews software. The results show that the overall index of social responsibility has a positive effect on financial statement comparability. Also, the moral and economic dimensions of social responsibility have the most positive effect on the financial statement comparability respectively. Which shows the importance of moral indicators of social responsibility in improving the financial reporting quality. While the legal dimension of social responsibility does not have a significant effect on financial statement comparability, which can be due to the lack of legal capabilities expected to respond to the business social responsibility.

This study examines the resource curse hypothesis among countries with different levels of democracy, based on a dynamic model considering the issue of endogenousness. To achieve this, the panel vector autoregression model (pvar) as well as the panel shock response functions for data on oil dependence, economic growth and several political institutional variables in 68 countries were divided into income, development and democracy groups. The period 2020-1995 has been used. The results show that in the groups of countries, developed countries and high-income countries in the long run there is a positive relationship between oil rents and economic growth. If the relationship is not established for a group of middle-income and developing countries. Considering the combined effect of oil rents and institutional quality (interactive variables) on the long-term abundance of resources, it reduces the economic growth of these countries. In other words, the resource curse hypothesis is confirmed in almost all groups and also the institutional quality variable in all groups (except non-democratic middle-income countries) can moderate the relationship between oil rents and real per capita income growth.

The adoption of aggressive tax policies is one of the policies that are considered in evaluating the performance of managers by shareholders and the capital market, and on the other hand, stock price synchronization is a relatively new field in financial and economic research, and since it has a strong relationship with economic growth and development and The stability of the country's capital market is of interest. The aim of the present study is to investigate the role of the lack of transparency of financial information and audit quality on the relationship between aggressive taxation and stock price synchronization in companies listed on the Tehran Stock Exchange. The statistical population of the research includes all the companies admitted to the Tehran Stock Exchange during the years 2014-2018. In order to select the statistical sample, the systematic elimination method was used, and after applying the relevant criteria, 860 companies (172 companies) were selected as the statistical sample. The results of the first hypothesis test of the research showed that there is a positive and significant relationship between aggressive taxation and stock price concurrency. Also, the findings of the second hypothesis showed that the lack of transparency of financial information has a positive and significant effect on the relationship between aggressive taxation and stock price concurrency. Finally, the findings of the third research hypothesis also indicated that high-quality auditing limits aggressive taxation and reduces stock price concurrency.

This study examines the association between political hypothesis (political costs) and corporate financing decisions in a sample of 123 listed firms in Tehran Stock Exchange for the period 2011–2019. Political costs are measured by observable variables such as the risk, capital intensity, size, concentrate rate and employee intensity. Financing decisions are measured by total current liabilities to total assets, total non-current liabilities to total assets and total equity to total. In addition, tangibility, growth opportunities and profitability are entered to the model as control variables. Based on the structural equation modeling approach, our results demonstrate that firms with a high level of political costs increase the equity more than firms with a low level of political costs.

Crises can lead to changes in management control practices, especially budget controls. Therefore, this study attempts to investigate the behavioral effects of budget tightness of the Covid-19 crisis. The present study is practical in nature and is considered as a descriptive-exploratory correlation study. The required data were collected through the distribution of questionnaires among 97 administrative and financial managers. The time period of this study is the first season of year 2022. The research data were analyzed using structural equation modeling method. According to the research findings, (1) the crisis caused by the Covid-19 pandemic causes to tighten budget controls. (2) the crisis-induced budget tightening will be positively associated with emotional exhaustion through role conflict and role ambiguity (job stressors), respectively. (3) Enabling budgets moderate the relationship between budget tightness and job stressors. (4) The expectations of senior managers intensify the relationship between budget tightness and job stressors. Based on the research findings, studying the changes in the tightness of budget control can lead to a better understanding of how budgeting practices affect these changes and also how these practices are affected by organizational responses to a crisis. Finally, it is suggested that firms increase the emphasis they place on behavioral controls such as budgetary controls to ensure ongoing compliance in the implementation process.

The present study has examined the relationship between the turbulence of the structures of important industries of the Tehran Stock Exchange during the last twelve years using the daily turbulence of the index values of each industry. Using the volatility model based on the analysis of variance approach, the effects of risk spillover due to the occurrence of corona on the stability of twenty important and major industries in the Iranian stock market were measured and evaluated. Empirical findings showed that the twenty industries studied had little dependence before the corona and the occurrence of Covid 19 had significant effects on the dynamics of turbulence in the industrial structure and the correlation of turbulence reached its maximum during the corona. The most important industries of the Iranian capital market, including chemicals, basic metals, and cement, have the highest impact during this period, and the important role of large industries in propagating turbulence shocks is significant due to their strong internal dependence during extreme events. Medium and small industries have also increased system turbulence at the time of the corona. Overall, in the pre-Covid 19 era, there were ten risk-taking industries and ten risk-issuing industries, while in the Corona era, thirteen were the risk-issuing industries and seven were the turbulent industries.