Iranian Journal of Accounting, Auditing and Finance
Volume:8 Issue: 2, Spring 2024

The measures taken by companies are in line with their activities, in addition to ensuring the interests of shareholders and the company, and have social, environmental, and economic effects on society. Today, we are witnessing an increase in the concerns of society under the influence of these measures. One of these measures is the payment of taxes by the company, which can lead to an increase in social services and the prosperity of the economic system and generally improve the status of society. The primary purpose of this research is to explain the methodology of social and stakeholder analysis to participate in corporate sustainability by using the tax compliance of stock exchange companies. The current research is developmental-practical regarding objective, mixed-exploratory (causal) data, and survey-cross-sectional. Therefore, this research method to achieve the mentioned goals is descriptive-analytical. In this research, the components are first determined by the Delphi method, and then the significance of the components is checked using the factor analysis method by Smart PLS Software. The research findings in the first stage, which were obtained by using a questionnaire and receiving the opinions of experts, include the identification of the following components: the perception of stakeholders, including internal stakeholders and our company; Social norms, including personal, descriptive, subjective and predicted norms, and participation in corporate sustainability includes desire, plan, commitment, and enthusiasm. Also, in the second stage, which was done by distributing questionnaires among the accountants and financial managers of the companies admitted to the stock exchange, the results show that social and stakeholder-related indicators, which include stakeholders' perceptions and social norms, lead to tax compliance to participate in corporate sustainability. In previous studies, the subject of corporate sustainability used tax compliance to examine the impact or relationship. In this research, modeling was carried out, so the present results can provide useful suggestions to law-making institutions, including the audit organization and the Tehran Stock Exchange Organization, so that these organizations apply more appropriate regulations.

Capital is considered the engine of economic growth and development in all economic growth theories and models. Therefore, providing direct financing and attracting enough capital to implement economic plans is one of the most critical concerns of economic decision-makers in every society. By understanding this issue, compilers of Iran's economic development programs have stated that one of the crucial goals in the country is to provide the necessary grounds for developing monetary and financial markets. Currently, there are many financing tools in the world, most of which cannot be used in Islamic societies due to their nature of usury. The data from 2001 to 2018 for selected countries were extracted from WDI, ICRG, and IIFM databases and analyzed through the econometric method. The results showed a positive and significant effect of Sukuk issuance on the economic growth of Islamic countries. In the end, implications were made to attract liquidity using this tool. In Iran, the role of Sukuk on economic growth has not been investigated, and the critical point is that in this research, the data related to economic risk and political risk have been used and simultaneously, along with other variables, its effect on economic growth has been evaluated and analyzed.

Faster attainment of optimal financial leverage guarantees the company's survival and the growth of shareholders' interests. This paper investigates the effect of family ownership on the speed of adjustment of financial leverage toward optimal leverage. The data of 133 companies listed on the Tehran Stock Exchange, selected according to the systematic exclusion pattern, was collected for 10 years from 2012 to 2021 to achieve the research objectives. A multivariate linear regression model was used to test the research hypotheses. In order to measure the speed of adjustment of financial leverage, the partial adjustment pattern model of Öztekin (2015) has been used, and to evaluate the Family Ownership, Chen et al. (2008) method was used. The results showed that the speed of adjustment of financial leverage towards optimal leverage in family companies is faster than in non-family companies. Therefore, family owners in companies with a higher sense of responsibility towards the company's capital can create a safe environment for investors and ensure a return on their investment.

Stock price garners considerable attention from internal (financial and executive managers) and external (creditors and shareholders) users. Shareholders invest in the company’s stock to gain profitable returns. Cash holding level is among the most important determinants of firm value (stock price). Managers might invest the excess cash in non-profitable projects and reduce the firm value. However, studying corporate governance mechanisms and ownership structure can control such managerial behaviors. Therefore, this study investigates the impact of corporate governance, ownership structure, and cash holding on firm value. The sample comprises 35 companies listed on the Iraq Stock Exchange via a systematic sampling method. Multiple regression models and panel data analyzed the data. Findings show that corporate governance and cash holding affect the value of Iraqi companies, but ownership structure does not significantly affect firm value. To the extent of our knowledge, this is the first study investigating the impact of corporate governance, ownership structure, and cash flow on the value of Iraqi companies. Despite earlier studies, this study uses the composite index to evaluate corporate governance.

This study addresses the impact of psychological contract breaches and organizational factors on fraud disclosure in the banking system. The statistical population includes all the employees and internal auditors in the banks listed on the stock exchange in 2022. The data is collected using a questionnaire. Structural equation modeling and Smart PLS v.3 Software propose and test eight hypotheses. Results showed a significant negative relationship between interpersonal effect, employee transactional relationship, financial system instability, deficient organizational changes, and unethical organizational morality with fraud disclosure. However, results showed no significant relationship between past disclosure responses and fraud disclosure tendency. The mentioned organizational factors affect fraud disclosure via the mediating role of psychological contracts. The last hypothesis showed that employees tend to disclose fraud to their supervisors rather than to the fraudster and internal auditors. This article is an innovative study because it is the first research addressing psychological contracts' effects in the accounting and auditing field. Our results and findings by investigating the negative impact of psychological contract breach on the tendency to disclose fraud contribute to audit literature, fraud diamond, and fraud disclosure. Psychological contract breach might affect the “opportunity” element in the fraud diamond by not whistleblowing fraud. Management relies on their employees as an internal control against fraud.

This research examines the effect of valuing social responsibility by combining the company's life cycle. In other words, by examining the role of life cycle stages on the relationship between high social responsibility and company value, the related literature on corporate social responsibility will be expanded to the less researched area in Iran. The statistical population of the research is the companies listed on the Tehran Stock Exchange. A sample of 115 companies from 2006 to 2021 is 1725 company-year. Multiple panel regression methods and STATA version 17 statistical software were used to test the hypotheses. The results show that although social responsibility and company value generally have a positive relationship, this relationship is conditional on the company's life cycle stages. The effect of each dimension of social responsibility on the company's value is different in the life cycle stages. Social responsibility's social and governance aspects predict higher firm value in all life cycle periods, but this effect is more significant in the decline period. The environmental aspect of social responsibility generally positively impacts the firm’s value, but this effect is insignificant at different life cycle stages.

This study aims to investigate the effect of some macroeconomic variables on the performance indicators of companies listed on The Tehran Stock Exchange (selected industries) during sanction periods (before and after the Joint Comprehensive Plan of Action). This research is an applied and correlated study using deductive-inductive reasoning. Collected data is analyzed (financial reports). Therefore, this study is ex post facto. The sample of this study was collected over 11 years, spanning from 2010 to 2020, and included 181 firms listed on the Tehran Stock Exchange. Multivariate linear regression is conducted to test the hypotheses. The findings indicate that sanctions (both pre-and post-JCPOA) acted as moderators in the relationship between exchange rate fluctuations and firms’ added value. Except for the automotive industry, sanctions (pre-and post-JCPOA) moderated the relationship between foreign investment and corporate investment activities in all industries. Sanctions (pre-and post-JCPOA) moderated the relationship between the production price index and corporate profitability in all industries except the automotive industry. Sanctions (pre-and post-JCPOA) moderated the relationship between the import of raw materials for intermediate and capital goods and corporate operational activities. America’s withdrawal from Iran's nuclear deal, JCPOA, in 2018 caused great damage to Iran’s economy. These sanctions are expected to have a more destructive impact on business enterprises in the post-JCPOA era. Testing the hypotheses, the results show that sanctions (pre-and post-JCPOA) moderated the relationship between the exchange rate fluctuations and corporate performance indicators. This research provides valuable insight into the sanction conditions and companies’ reactions. It leads companies towards self-sufficiency and cooperation with knowledge-based firms for development and growth and reduces dependence on foreign resources and goods.