Earning Quality and Investment Efficiency; Do Board Characteristics Matter? Evidence from Tehran Stock Exchange
محل انتشار: مجله مالی ایران، دوره: 3، شماره: 1
سال انتشار: 1398
نوع سند: مقاله ژورنالی
زبان: انگلیسی
مشاهده: 235
فایل این مقاله در 23 صفحه با فرمت PDF قابل دریافت می باشد
- صدور گواهی نمایه سازی
- من نویسنده این مقاله هستم
استخراج به نرم افزارهای پژوهشی:
شناسه ملی سند علمی:
JR_IJFIFSA-3-1_001
تاریخ نمایه سازی: 24 فروردین 1401
چکیده مقاله:
This study postulates the relationships between earning quality and investment efficiency among Tehran Stock Exchange-listed companies with an emphasis on the moderating role of board characteristics including independence, the duality of executives and the financial expertise of members. The research is applied in terms of purpose and takes a correlative-descriptive approach. The statistical population is comprised of TSE listed companies from ۲۰۰۸ to ۲۰۱۸ and, the final sample consisting of ۷۸ companies was selected using systematic (purposeful) elimination. To test the hypotheses, two regression models were estimated using Ordinary Least Squares method through Eviews software. The empirical results revealed a positive and significant relationship between the quality of earning and investment efficiency in TSE publicly-traded companies. As well as, the board members' independence and financial background can significantly exaggerate such a relationship. Based on our findings, capital market legislators, regulators, and policymakers may reinforce the governance role of the board of directors in monitoring the behavior of firms, and as a result, increase the efficiency of allocating capital among companies listed in TSE and also in macroeconomic levels. The findings can persuade corporate shareholders to pay more attention to the degree of independence and expertise of their board of directors to gain more return on their investment opportunities.
کلیدواژه ها:
نویسندگان
Mahmoud Karimi
Ph.D. Candidate, Department of Finance, Faculty of Management, Islamic Azad University, Science Research & Technology Branch, Tehran, Iran.
Ali Eshaghzadeh
MSc., Department of Finance, Faculty of Petroleum, Petroleum University of Technology, Tehran, Iran.
Hadi Poursina
B.S., Department of Accounting, Faculty of Petroleum, Petroleum University of Technology, Tehran, Iran.
مراجع و منابع این مقاله:
لیست زیر مراجع و منابع استفاده شده در این مقاله را نمایش می دهد. این مراجع به صورت کاملا ماشینی و بر اساس هوش مصنوعی استخراج شده اند و لذا ممکن است دارای اشکالاتی باشند که به مرور زمان دقت استخراج این محتوا افزایش می یابد. مراجعی که مقالات مربوط به آنها در سیویلیکا نمایه شده و پیدا شده اند، به خود مقاله لینک شده اند :