The effect of real profit management on the relationship between managers' overconfidence and financial performance in companies listed on the Tehran Stock Exchange

The success rate of a company depends on the realization of the goals of its activities, that the amountof investment in that activity and the level of achievement of its goals are effective in measuring theextent of this success. The factors influencing the company's success are dramatically influencing thecompany's management. It seems that since powerful managers have a better understanding of theeconomic situation and can make decisions that have negative effects and predict their outcomes, if realprofits management activities occur, there is less negative effect on The company's performance in themanagement of actual earnings is deliberately manipulated in the actual activities of the company tochange the reported profit in a particular direction, and this is created by changing the scheduling of theactivity or the structure of the transactions. In this regard, the effect of earnings management on therelationship between the trustworthiness of management and the financial performance of listedcompanies in the stock market has been investigated. The statistical population of the research is thecompanies listed in the Tehran Stock Exchange between ۲۰۱۱ and ۲۰۱۶. The statistical populationaccording to the screening method and after the removal of unacceptable observations is equal to ۱۰۳companies. Accordingly, in this research, the management's more trustworthiness is considered as anindependent variable to its relationship with the dependent variable, financial performance, as well asthe effect of the moderating variable of the actual profit management on the above relationship. In thefirst hypothesis, the study of the relationship between high trust management and financial performance,in the second hypothesis, was investigated the effect of earnings management on the relationshipbetween trust management and financial performance. In this research, which uses panel data (panel)with fixed effects, the results of data analysis using a multivariate regression of research hypotheses at۹۵% confidence level show that there is a significant negative correlation between CEO overconfidenceand financial performance And Earning Management does not have a significant effect on therelationship between CEO overconfidence and financial performance.

کلیدواژه ها:

CEO overconfidence ، Earning Management ، Financial Performance