چکیده:
The purpose of this study was to an investigation of financing costs factors on
the auditor's qualified report in companies listed in Tehran stock exchange. The
criteria considered in this study were the audit firm size, auditor's specialization in
the partner level, auditor's selection tenure and audit fees. For this purpose, five
hypotheses were developed and data related to 85 companies of Tehran stock
exchange for the period 2009-2014 were used. To test them, the multivariate
regression technique was applied to panel data. The results of the first hypothesis
indicated that there was no significant relationship between the audit firm size and
qualified audit report. According to the second and third hypotheses, there were
significant positive and negative relationships between auditor's specialization in
the partner level and audit firm with the qualified report, respectively. The fourth
one regarding the relationship between the auditor's selection tenure and qualified
audit report was rejected. The fifth hypothesis results also indicated that there was
a significant negative relationship between audit fees and qualified audit report.
خلاصه ماشینی:
The Effects of Accruals and Cash Flow Anomalies on Net Profit and Abnormal Stock Returns in Accepted Companies in Tehran Securities Exchange Saeid Barati a,*, Hossein Karbasiyazdib aDepartment of Management, Arak Branch, Islamic Azad University, Arak, Iran.
The results indi- cate that the first assumption based on rational pricing related to cash flows and total accruals in the companies in Tehran Securities Exchange is rejected in the study period; this indicates anomalies and regarding the significance of the coeffi- cient related to the total accruals among the group of companies under study, the companies with low accruals have a higher abnormal return compared to compa-nies with high accruals.
3. 1 Estimation of the First Equation Set of Research 2SLS method is applied for the test of market efficiency related to Mishkin [18] (in the format of cash flow and total accrual rational pricing) and the results are presented in Table 9.
Table 9: Results of the combined regression estimation of the first equation set of research (View the image of this page) In Table 10, the constraint tests above are implemented for the following equation set (dividend continuity sample) (View the image of this page) In this study, the assumption of rational pricing related to the components of profit (cash flows and total accruals) is estimated for the dividend continuity model.
The empirical findings of this research show that the first assumption of the re- search based on rational pricing related to cash flows and total accruals in the companies under study in Tehran Securities Exchange in the given period is rejected indicating anomalies.