نشریه پیشرفت های مالی و سرمایه گذاری
پیاپی 14 (بهار 1403)

The credibility of auditors is directly linked to the added value of confidence in communication between the auditee and their audience. Consequently, the credibility of auditors takes precedence due to the significance of audited financial statements in facilitating transactions in capital markets. This research aims to measure auditors' credibility using artificial neural networks.

Initially, research variables were identified using grounded theory, and factor analysis was employed to analyze research questions. The final model for measuring auditors' credibility was then presented, and MATLAB software was utilized to measure auditors' credibility. This research was conducted in the year 1401 (Solar Hijri calendar, equivalent to 2022-2023 in the Gregorian calendar).

The results revealed that various factors influence the evaluation of auditors' credibility, including examining independence, acceptance or continuation of work, correspondence file, permanent file, understanding the unit under scrutiny and its environment (including internal controls), content tests, work planning, control and supervision, checklists and reports, the execution of duties by the second manager, overall assessment of audit files, the general status of the audit institution, human resource status within the audit institution, functions of the audit institution, compliance with auditing profession rules and regulations, and the external appearance of the audit institution.

The weed optimization algorithm outperforms the particle swarm optimization algorithm in predicting auditors' credibility. Based on the findings of this study, stakeholders in the auditing profession, especially the Iranian Institute of Certified Accountants responsible for assessing auditors' credibility, should pay attention to the identified factors that experts and professionals believe to have an impact on evaluating auditors' credibility.

Venture capital is an investment model for launching new businesses such as startups and small companies with long-term growth potential, and venture funds provide financial resources from the time the idea is formed to the end of the project. As the name suggests, high risk tolerance and courage are required to start and invest in these funds, and the purpose of this research is to investigate the fluctuations and overflow of returns between these funds and its benchmark index (total index).

This research has utilized time series data of five risky ETFs and index returns between 2018 and 2023. Heterogeneity models including generalized autoregressive conditional heteroskedasticity (GARCH) and exponential generalized autoregressive conditional heteroskedasticity (EGARCH) models have been employed for data analysis.

The findings of the research indicate that all tradable ETFs have return overflow from the benchmark index to ETF returns. Additionally, the returns of tradable ETFs and the benchmark index exhibit stability in volatility, and the presence of asymmetric volatility shows that negative news has a greater impact on volatility compared to positive news.

Originality/Scientific Value: 

The results of this research can offer venture fund managers and investors a novel perspective for evaluating the performance and risk of these funds by considering both positive and negative news using volatility models.

Organizations today operate in an uncertain, complex, and rapidly changing environment that necessitates the development of capabilities and capacities for competitive advantage. The aim of this research is to present a model for the development of technological startups to enhance the dynamics of extra-organizational navigation mechanisms.

The research adopts an exploratory objective and a mixed-method approach (qualitative-quantitative). The qualitative research population consists of experts and top managers of industrial companies listed on the stock exchange, with 20 purposively selected participants, and sampling continued until theoretical saturation was achieved.Within the quantitative segment, the sample comprises 500 individuals drawn from the academic faculty, senior executives, middle managers, and industry experts associated with firms listed on the Tehran Stock Exchange. The sample size of 217 individuals was determined using Cochran's formula for the period spanning 2012 to 2022.

The results indicate that constraints on financial resources (research and development budgets) and risk-sharing, the transition towards the digital economy synchronized with regional and global developments, market penetration processes, increasing competitiveness, and the formation of an economic scale for product development, as well as social and cultural transformations such as the emergence of an educated middle class, underscore the necessity of strategic thinking in organizations commensurate with changes in the operating environment as key factors in the development of startups. Moreover, contextual and intervening factors include 10 and 5 categories, respectively, comprising macroeconomic conditions and constraints in attracting foreign investment, and the inherent complexity of innovation and commercialization, especially in advanced technology domains. Furthermore, strategies encompassing 16 components, including adopting an agile startup approach and risk-taking and crisis management. Additionally, consequential categories include creating value for businesses following a market-oriented approach through resource integration and product development. In the quantitative section, the conceptual research model was tested, and the research hypothesis was confirmed.

Originality/Scientific Contribution:

 The research findings can contribute to enhancing competition among companies listed on the stock exchange, and it is expected that the establishment of extra-organizational navigation mechanisms will effectively assist in the implementation of the board of directors' tasks and compliance with legal requirements.

The purpose of the research is to develop a model to explain the impact of the main factors of development on the efficiency and effectiveness of management accounting techniques based on contingency theory and political economy.

In this research, to collect economic, social, political and cultural data from the data of international reports and to collect data related to the quality of the internal information environment from the financial statements of all companies in the automotive industry, parts manufacturing, electronic equipment and heavy vehicles in Tehran Stock Exchange is used. The mentioned model was developed through structural equation modeling with PLS software.

The developed model and the results of the research hypothesis test showed that contingent factors including economic, social, political and cultural factors have a significant positive impact on improving the quality of the internal information environment due to the efficiency and effectiveness of management accounting techniques and tools. In between, economic and social factors have the most impact and cultural factors have the least impact.

The basis and economic foundation and their economic structure is the existence of numerous financial markets, including the stock exchange, which is considered one of the main economic pillars due to its strong role in providing drivers. The indicators reflect the performance of companies in this market. But instead of many, they sometimes undergo artificial changes. Identifying the formation of this damage in the period of 2018-2021 is the main goal of the research.

conducting research consists of three stages: first; By using the theme analysis, it examines the available evidence to calculate the key factors and types of manipulation in the stock. Second; Using the two-stage Delphi , new findings are identified and combined with the findings and confirmed by experts. Third; Using the Delphi-Fuzzy technique, it screens the previously obtained key factors using the opinion of same experts.

research show that the Tehran Stock Exchange is prone to manipulation of indices and the manipulation and management of indices takes place in two general ways: some of them are real actions, but with ulterior motives and are introduced as real index management, and the other part It is also with fake and ill-intentioned actions, which is categorized and described as artificial index management.

Originality/scientific added value: 

this research can be effective in revising and modifying the guidelines and information transparency framework in the field of indicators. Content innovation in identifying dimensions and how to manipulate the stock market index is one of the other achievements.

The necessity of accountability and attention to other social groups, along with the environmental impacts of corporate activities, has introduced the concept of social responsibility disclosure in accounting theory. The increasing demand from stakeholders for companies to accept social responsibilities has encouraged them to engage in environmental and social responsibilities. Considering this necessity, the present study aims to identify and rank the components of social responsibility disclosure and provide a localized model.

Utilizing Delphi forecasting methods, hierarchical analysis, and questionnaires, the study presents and analyzes within a comprehensive framework. Additionally, the current status and the level of social disclosure in companies were determined through content analysis of the reports from the boards of directors of Iranian companies.

The findings indicate that the most critical social dimension components, in order of priority, are the customer factor with a relative weight of 0.220 in the first rank, followed by the community responsibility factor with a relative weight of 0.174 in the second rank, environmental issues with a relative weight of 0.140 in the third rank, products and services with a relative weight of 0.128 in the fourth rank, energy with a relative weight of 0.117 in the fifth rank, economic factor with a relative weight of 0.112 in the sixth rank, and human resources with a relative weight of 0.108 in the seventh rank. Overall, the low level of social disclosure in Iranian companies indicates a significant gap between the current status and societal expectations, necessitating appropriate regulations, requirements, and standards in corporate reporting and disclosure to meet stakeholder and societal expectations.

Originality/Scientific Contribution:

 The results of path analysis and favorable model fit indices demonstrate the significance and appropriate explanation and justification of all components for the disclosure of the social dimension of corporate responsibility. This facilitates the reduction of the gap between the expectations of economic units and society as industries and various business units grow and develop, impacting the community and their lack of social reporting.

With the advent of behavioral finance theories in recent decades and the challenge of classical financial theories that states investors' decisions are rational, studies and investigations of behavioral factors affecting investors' decisions have become increasingly important. In recent years, the cognizance of these factors and their impact on the performance and decisions of investors has been the focus of many researchers. This study investigates the effect of personality traits on investment decisions with the mediating role of risk tolerance.

Primary data was collected from 386 individual investors from Tehran Stock Exchange. Descriptive analysis of the data was run on SPSS. whereas, Structural Equation Modelling (SEM) with pls was used to conduct hypothesis testing through path analysis.

As per the results personality traits have a significant effect on investment decisions and risk tolerance, and also risk tolerance has a significant effect on investment decisions. Mediation analysis confirmed that risk tolerance partially mediated the relationship between personality traits and investment decisions.

Originality / Value: 

The Originality this research was the use of the risk tolerance variable as a mediating role in investigating the effect of personality traits on investment decisions, which can be used to improve investment decisions and develop theoretical foundations. study and results have theoretical and practical implications for the investors, financial planners and managers