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بررسی رابطه محافظه کاری حسابداری با واکنش بازار و ارزش شرکت ها | ||
حسابداری و منافع اجتماعی | ||
مقاله 6، دوره 7، شماره 4 - شماره پیاپی 27، دی 1396، صفحه 99-126 اصل مقاله (1.25 M) | ||
نوع مقاله: مقاله پژوهشی | ||
شناسه دیجیتال (DOI): 10.22051/ijar.2017.9221.1093 | ||
نویسندگان | ||
سحر روحی ملکی* 1؛ عسگر پاک مرام2 | ||
1دانش آموخته کارشناسی ارشد حسابداری دانشگاه آزاد اسلامی واحد علوم و تحقیقات آذربایجان شرقی، نویسنده مسئول | ||
2استادیار گروه حسابداری دانشگاه آزاد اسلامی واحد بناب | ||
چکیده | ||
محافظه کاری حسابداری از نظر مشارکت کنندگان در بازار سرمایه و به ویژه سهامداران مطلوب بوده و منجر به افزایش تقاضا برای خرید سهام در شرکتهای دارای سطح بالای محافظهکاری میگردد.افزایش تقاضا هم به نوبه خود منجر به افزایش قیمت سهام و در نتیجه منجر به افزایش واکنش بازار و ارزش شرکت ها می گردد. این مقاله به بررسی رابطه بین محافظه کاری حسابداری با واکنش بازار و ارزش شرکت های پذیرفته شده در بورس اوراق بهادار تهران می پردازد. دراین پژوهش برای سنجش محافظه کاری شرطی از مدل بال و شیوا کومار و برای سنجش محافظه کاری غیر شرطی از مدل گیولی و هاین استفاده شده است. این پژوهش از نوع همبستگی بوده وجامعه آماری ، شامل شرکت های پذیرفته شده در بورس اوراق بهادار است که با روش حذفی، 68 شرکت در نمونه آماری این پژوهش قرار گرفته اند.دوره زمانی پژوهش سال های 1387 تا 1392 است. برای آزمون فرضیه های صورت بندی شده از رگرسیون چند گانه خطی بهره گیری شده است. نتایج آزمون نشان می دهد که محافظه کاری حسابداری باواکنش بازار وارزش شرکت رابطه معنی داری دارد وازبین متغیر های کنترلی وارد شده در مدل، نرخ بازده دارایی باواکنش بازار رابطه مثبت داشته و نرخ بازده دارایی و نسبت ارزش بازار به دفتری و نسبت نقدینگی باارزش شرکت رابطه مثبت و معنی دار دارد. | ||
کلیدواژهها | ||
محافظه کاری شرطی؛ محافظه کاری غیر شرطی؛ واکنش بازار و ارزش شرکت | ||
عنوان مقاله [English] | ||
The Relationship of Accounting Conservatism with Market Responsess and Firms Value | ||
نویسندگان [English] | ||
Sahar Ruhi1؛ Asgar Pakmaram2 | ||
1Graduate Student of Accounting at Islamic Azad University, East Azarbaijan Branch, Researcher | ||
2Assistant Professor, Department of Accounting, Bonab Islamic Azad University | ||
چکیده [English] | ||
Accounting conservatism, leading to increases in demand for stock buying in companies with higher level of conservatism, is profitable for capital market participants, particularly shareholders. Increases in demand may lead to an increase in share prices in its own right which will inevitably trigger market reaction and boost company value. This paper investigates the relationship between accounting conservatism, market reaction and value of the companies accepted at stock exchange. Ball and Shivakumar (2005) model and Givoly and Hayn model (2000) were adopted in order to measure the degree of conditional and unconditional conservatism, respectively. The statistical population consists of 68 companies accepted at Tehran stock exchange, during the period of 5 years (1387-1392), which are selected by using systematic elimination procedure. Simple linear regression was used to test research hypothesis. The results indicated a relationship between market reaction and company value. In addition, return on assets, from among control variables in regression, had a positive relation with market reaction. A positive and meaningful relation was indicated between return on assets, book-to-market ratio, liquidity ratio and company value. Keywords: conditional conservatism, unconditional conservatism, market reaction and company value. | ||
کلیدواژهها [English] | ||
conditional conservatism, Unconditional Conservatism, Market responsess, Firm valuation | ||
مراجع | ||
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