An Investigation of the Effect of Disclosure Quality on Future Stock Price Crash Risk with Moderating Effect of Auditing Firm

The present study aimed at investigating the effect of auditing fir

A survey on the effects of the exchange rate changes and financial flexibility on the usage of financial leverage in accepted companies of Tehran stock exchange

In the present study we try to examine the exchange rate changes and financial flexibility as the economic stable indexes on the financial leverage use in the companies so the main issue in this study is to define the financial leverage relation with exchange rate changes and financial flexibility. That is why 88 companies of the companies listed in Tehran stock exchange in 2005–2011. The study type is descriptive–correlative and the multivariable linear regression was used to analyze the data. The findings from the hypotheses test state there is a significant relation between financial leverage and financial flexibility while there isn't relationbetween financial leverage and exchange rate changes

Determination of Premier Firms according to Investors Decision Making Model (Evidence of Firms Listed in Tehran Stock Exchange)

The main goal of this paper is determination of premier companies according to investors' decision making model. Based on previous studies, this study applies 6 factors for investors decision making, 3 of which are cash basis (dividend per share, operational cash flow and free cash flow) and 3 others are accrual basis (operational income, earning per share and retained earnings). Data from 109 firms listed in Tehran Stock Exchange (TSE) is collected using Rahavard Novin software for a 13 years period from 2000 to 2013. Then, the firms are ranked based on cash basis, accrual basis and total factors using TOPSIS technique and Excel software. To test the first hypothesis, that is relative proximity index difference, the Friedman test and SPSS and to the second hypothesis, that is the relation between cash and accrual criteria, Spearman correlation and multiple regression tests are used. The first hypothesis test findings show that there is no significant difference between two relative proximity indexes. To determine premier companies, the study uses both cash and basis factors. The results of the second hypothesis test show that investors do not use efficiently scientific models and decision-making techniques