The Investigation of the Impact of Effective Factors on Accuracy of Forecasted Profits Made By Firms’ Management In Tehran Stock Exchange Market
Mohammad
Namazi (Ph.D)
Professor of Accounting, Shiraz University, Shiraz, Iran.
author
Kazem
Shamsoddini
M.A. of Accounting, Shiraz University, Shiraz, Iran.
author
text
article
2008
per
Forecasted profits provides important information for investors and other users of financial statements. In recent years, a large number of studies have investigated the accuracy of forecasted profits made by company management. In this study, we investigate the effect of nine variables on accuracy of management earnings forecasts for firms in Tehran Stock Exchange Market. These variables include Growth Profit, Growth Sale, Growth Assets, Past Forecasted Profit, Dividend, Company Size, Leverage, Stock’s Price and Industry. Accuracy is measured by forecast errors, absolute forecast errors, squared forecast errors and natural logarithm of squared forecast errors. Using a sample of 77 firms in Tehran Stock Exchange Market within 1379-1383 years, our findings on simple regression model show that there are relationships between growth profit, growth sale, growth assets, past forecast profit, But there aren’t leverage, stock’s price and accuracy of earnings forecasts relationships between dividend, company size and accuracy of earnings forecasts. In addition, the results of the results of multiple regression model show that there are relationships between growth profit, leverage and accuracy of earnings forecasts.
Journal of Development and Capital
Shahid Bahonar University of Kerman
2008-2428
1
v.
1
no.
2008
1
28
https://jdc.uk.ac.ir/article_1884_49622ef5507d370db549ac1a440392d0.pdf
dx.doi.org/10.22103/jdc.2007.1884
Impact of Trade Liberalization on the Iran’s Employment Level
Seyed Komail
Tayebi, Ph.D
Associate Professor of Economy, Isfahan University, Isfahan, Iran.
author
Narjes
Zakerfar
M.A. of Economics, Isfahan University, Isfahan, Iran.
author
text
article
2008
per
Trade Liberalization as a feature of globalization provides international competitiveness and contribution of countries to the most economic activities. It is obvious that the lower degree of competion the less chance exists for some firms that wish to continue their activities. However, there is evidence in the literature that trade liberalizaion leads to job opportunities in various industires.The objective of this paper is to investigate a dynamic interacted relationship between trade liberalization and emploment for the Iranianian economy. This includes both short-run and long-run effects, arising from globalization which deals with a completed stage of liberalization. We use time series data over 1959-2003, to examine the long-run and short-run trade liberalization-emploment relationship by specifying an ARDL model and ECM, respectively.The estimation results obtained indicate that trade liberalization, through policies either eliminatining or reducing tariff, has a significant short-run effect on the Iran’s employment level. In addition, a proxy for globalization has statistically a significant sign in the long-run employment model, specified by the ARDL (1,0,01). This implies that employment creation in the Iranian economy is based upon an appropriate synchronization between a trade liberalization policy and globalization. The results also show that import liberalization in consumer and a part of intermediate goods has a positive and significant impact on employment, while capital import liberalization affects highly emploment in the long-run.
Journal of Development and Capital
Shahid Bahonar University of Kerman
2008-2428
1
v.
1
no.
2008
27
46
https://jdc.uk.ac.ir/article_1885_ac1e8cf5ee4268e24d859ae321919a81.pdf
dx.doi.org/10.22103/jdc.2007.1885
The Estimation of Compressed Natural Gas (CNG) Application Function in Industry Section of Country
Karim
Azerbaijani, Ph.D
Associate Professor of Economy, Isfahan University, Isfahan, Iran.
author
Alimorad
SSarifi, Ph.D
Assistant Professor of Economy, Isfahan University, Isfahan, Iran.
author
Abdolnasser
Shojaee
M.A. of Economics, Isfahan University, Isfahan, Iran.
author
text
article
2008
per
Planning for optimization of natural consumption in the country requires foreseeing and forecasting the long term demand for natural gas. Natural gas, as one of the energy vectors in Iran, has a unique position. Having the second richest reservoir of natural gas in the world ,plus , a specially natural gas environment , Iran has propounded natural gas as the better energy source in the country. The industrial sectors, as the most productive economic sector of every country has special position in that country and undoubtedly without iis development economics dynamics and economic growth and development will not take place. In addition industry is one of the most important DEMARDERS OF natural gas. There fore it has been tried in this paper to examine the demand for natural gas in the industrial sector. To this end, while analyzing the theoretical side of the subject, the effective factors for natural gas demand in the industrial sector will be examined, and then, with the use of autoregressive distributed lag (ADRL) and error correction model (EME), the long and the short run, effects would be analyzed through time series. The results show that the real prices of natural gas and electricity have no effect on the consumption of natural gas in the industrial sector. Also in considering the cross elstiety of the natural gas to the real prices of the oil products the gainted results show that natural gas and oil products are complementary goods. In addition, amongst other influencing factors on demand for the natural gas in the industrial sector in the value added in that sector.
Journal of Development and Capital
Shahid Bahonar University of Kerman
2008-2428
1
v.
1
no.
2008
47
70
https://jdc.uk.ac.ir/article_1886_e5ce342af11137e4590b404fd513bd0f.pdf
dx.doi.org/10.22103/jdc.2008.1886
Applying Genetic Optimization Algorithm in Selecting Portfolios of listed companies at Tehran Stock Exchange
Ahmad
Modarres, Ph.D
Assistant Professor of Accounting, University of Tehran, Tehran, Iran.
author
Nazanin
Mohammadi Estakhri
M.A. Accounting, University of Tehran, Tehran, Iran.
author
text
article
2008
per
Selecting a portfolio is one of the most critical issues in investment. In this process, the investor faces numerous alternatives and he must choose the most optimized one. Determining which shares are most suitable to be put in the portfolio and capital allocation between them, are complex issues. Theoretically, assuming constant return, we can minimize the risk by applying a quadratic equation, but experimentally and with respect to the Diverse investing tools and different investor's utility functions, the mathematical approach for solving this model requires vast calculation and planning. The main object of this research is applying genetic optimization algorithm in selecting a portfolio from Tehran Stock Exchange, listed companies, In away that the chosen portfolio minimize the investment risk while maximizing the return. In order to do this, we choose 40 companies shares from the population. After calculating the main variables – monthly risk and return for an eight year period- and preparing the required algorithm, the results are compared with Markowitz and the Random choice models ones in different levels of portfolio and with respect to hypotheses. Relevant statistical tests on 1st and 2nd hypotheses showed a meaningful difference; furthermore the genetic algorithm results defeated the Markowitz and the Random choice models.
Journal of Development and Capital
Shahid Bahonar University of Kerman
2008-2428
1
v.
1
no.
2008
71
92
https://jdc.uk.ac.ir/article_1887_eaadbf2a1e6af06435061a57aecdf7d7.pdf
dx.doi.org/10.22103/jdc.2007.1887
Identifying the Obstacles of Management Accounting Development in Productive Companies Accepted in Tehran Stock Exchange
Naghi
Bahramfar, Ph.D
Assistant Professor of Accounting, University of Tehran, Tehran, Iran.
author
Shokrolah
Khajavi, Ph.D
Professor of Accounting, Shiraz University, Shiraz, Iran.
author
Amin
Nazemi
Ph.D. Student in Accounting, Tehran University, Tehran, Iran.
author
text
article
2008
per
In this article, the obstacles of management accounting in productive companies accepted in Tehran stock exchange are studied. The statistical sample is including 52 companies among current industries. The research method is inducting and based on the collected data by means of interview and questionnaire. Hypotheses have been tested using statistical method of Kai 2 distribution.
The results indicate that the following 4 factors are of major obstacles in management accounting development of productive companies accepted in Tehran stock exchange.
Lack of managers' knowledge about the concepts and methods of management development.
Lack of enough and appropriate training in universities and other high education institutes to prepare promising managers.
Lack of providing data on time by accounting systems.
Continuous changes in economic policies.
In addition, according to respondents, lack of accepted standards in management accounting is not an obstacle in front of its development.
Journal of Development and Capital
Shahid Bahonar University of Kerman
2008-2428
1
v.
1
no.
2008
93
116
https://jdc.uk.ac.ir/article_1888_8469028878e567e516e0febdd8cd1943.pdf
dx.doi.org/10.22103/jdc.2007.1888
The study of relationship between five resource of manager’s Authority and staff commitment In Rafsanjan
Ali
Mollahosseini, Ph.D
Assistant Professor of Managment, Shahid Bahonar University, Kerman, Kerman, Iran.
author
Kobra
Kahnooji
M.A of Management, Shahid Bahonar University, Kerman, Kerman, Iran.
author
text
article
2008
per
Organizational situation induce the managers to relieve special behavior from themselves. Therefore the human behavior under the effect of complex psychology, biology, social and economic variables, for this reason the manager should employ authority source to know the above problems which cause to commitment sense in the staff, in order to change, their behavior according to organization expectations. This research was descriptive kind of measurement method to determine the relationship between five sources of manager’s authority and staff commitment in Rafsanjan governmental organization from the point of staff. The selective sample capacity was 360 from 6758 staffs in this city.The result of research shows that there is a relationship between manager’s authority and staff commitment. In five authority sources the expert and reference have positive relationship with staff commitment, but punishment, rule and reward authority have negative relationship with staff commitment.
Journal of Development and Capital
Shahid Bahonar University of Kerman
2008-2428
1
v.
1
no.
2008
117
132
https://jdc.uk.ac.ir/article_1889_f50654471c335968699e76d5f9c8823f.pdf
dx.doi.org/10.22103/jdc.2007.1889
The Trade Lileralization Effect on FDI of OIC Meraler Counties
Hossein
Karimi Hosnijeh, Ph.D
Assistant Professor of Economy, Isfahan University, Isfahan, Iran.
author
Kiumars
Aghaei, Ph.D
Assistant Professor of Economy, Isfahan University, Isfahan, Iran.
author
text
article
2008
per
Trade lileralization is based on the degree of economic openness, which is an important factor in the international trade area of every country. Other different factors influence is the path of to day's world economy. Value added and a suitable share in the world markets. If so the FDI accompany may be shown the effective role. In this paper we look at the trade lileralization OIC members to FDI and through panel method we investigate the degree of openness on FDI also.
Journal of Development and Capital
Shahid Bahonar University of Kerman
2008-2428
1
v.
1
no.
2008
133
148
https://jdc.uk.ac.ir/article_1890_adbaea5b7882f4b5f9f70101d91ab10a.pdf
dx.doi.org/10.22103/jdc.2007.1890