Life Science Journal (discontinued) (10978135)10(SUPPL. 5)pp. 611-615
Accounting plays an important role in economical system. Precise decision-making is inevitable by individuals, companies, government, etc for proper distribution and efficiency of financial resources. To make such decisions, decision-makers must have reliable information. In fact, the goal of accounting is to help these decisionmakers. On the other hand, investment is essential in growth process and economical development of country. In this study, a number of accounting variables such as accounting profit, degree of operating leverage (DOL), degree of financial leverage (DFL) and degree of total leverage (DTL) were selected as symbols of accounting information. Then their relation with systematic risk of those companies accepted in Tehran Stock Exchange was investigated. In this research, a sample including 98 companies accepted in Tehran Stock Exchange were selected during a 6 years period (2005-2011). Regarding to nature and method, this is correlation research,In order to test the assumptions, linear regression was used and in order to test correlation of variables, p-value test was used. The results showed that there is a direct relation between accounting profit and DFL with systematic risk by 90% confident level. Also, there is not a significant relation between DOL and DTL with systematic risk.
Zareq, E., Taheri, M.R., Nekounam, J., Fardi, K., Samaei baghbadorani, M.R.
Life Science Journal (discontinued) (10978135)10(SUPPL. 5)pp. 616-619
Precise decision-making is inevitable by individuals, companies, government, etc for proper distribution and efficiency of financial resources. To make such decisions, decision-makers must have reliable information. In fact, the goal of accounting is to help these decision-makers. On the other hand, investment is essential in growth process and economical development of country. In this study, a number of accounting variables such as accounting profit, degree of financial leverage were selected as symbols of accounting information. Then their relation with systematic risk of those companies accepted in Tehran Stock Exchange was investigated. In this research, a sample including 98 companies accepted in Tehran Stock Exchange were selected during a 6 years period (2006-2012). Regarding to nature and method, this is correlation research,In order to test the assumptions, linear regression was used and in order to test correlation of variables, p-value test was used. The results showed that there is a direct relation between degree of financial leverage with systematic risk by 90% confident level.
Zareq, E., Ghandehari, F., Nekounam, J., Malak hossini, H.R., Fardi, K.
Life Science Journal (discontinued) (10978135)10(SUPPL. 5)pp. 620-626
Analyzing expected rate of return according to the assets and estimations of value at enormously help the company in optimum use of financial and physical resources. if an assortment of investments is organized in such a way to be the best possible set, investors, by minimizing the attendant risks, can approach the optimum rate of return that is close to the market value. In this study, Capital Assets Pricing Model (CAPM), Fama and French three factor model and Value-at-Risk (VaR) model and their forecasting capabilities are thoroughly analyzed. Investors are aptly informed to make a conscious decision in extracting the best portfolio set. The study sample consisted of 118 companies listed in Tehran Stock Exchange, on a monthly basis during 2003-2010 and was selected. This study is based on assumptions that each model is efficient enough to forecast the arrangement of optimum portfolios. The regressiontest of out hypotheses indicates that CAPM model and Fama and French model are competent enough to forecast the structure of portfolios but VaR model's estimations must be cautiously applied. In this essay we analyze the power of estimation of CAPM, F&F and VaR models in determining the optimum portfolio to be helpful for investors.
Zareq, E., Nekounam, J., Pirzad, A., Sedaghatjoo, F., Mosavimotahar, S.
Life Science Journal (discontinued) (10978135)10(SUPPL.3)pp. 589-592
Accounting is an information system and managers should obtain high-quality and suitable information from formal and informal channels for decision-making. Accounting information system (AIS) is a part of this system that registers and summarized financial events. Then it reports information as accounting information to support managers in decision-making the question is that whether AIS affects relevance of accounting information in financial statements? To do this research, a sample of 105 confidant auditors from Tehran Stock Exchange and professors of Islamic Azad University, region 5, was selected by Simple Random Sampling (SRS) method as questionnaires. Inferential statistical method, Clemogrov-Smironov test, and t-student test were used. It was found that accounting information systems highly affect on relevance of financial statement.
Zareq, E., Nekounam, J., Baghbadorani, M.R.S., Hossini, H.R.M.
Life Science Journal (discontinued) (10978135)10(SUPPL. 5)pp. 511-514
Software packages as computer AIS, and regarding to the continuous changes and rapid developments of economical units, provision of relevant, reliable, financial information is necessary. To investigate this, the question is that whether softwares of accounting affects on relevance and reliability of accounting information in financial statements? To do this research, a sample of 105 confidant auditors from Tehran Stock Exchange and professors of Islamic Azad University, region 5, was selected by Simple Random Sampling (SRS) method as questionnaires. Inferential statistical method, Clemogrov-Smironov test, and t-student test were used. It was found that accounting information systems and softwares highly affect on relevance of financial statement, but they lowly affect on reliability of them.
Zamani, N.B., Zareq, E., Nekounam, J., Farahani, M.S., Mohammadi, S.M.
Life Science Journal (discontinued) (10978135)10(SUPPL. 5)pp. 515-521
Devolution of governmental companies to private sector is one of the most important problems in Iranian economy. This research studies the effects of privatization of governmental companies in Iran in Tehran Stock Exchange. Stock return was analyzed by an analytical-experimental method. Data was gathered through financial documents for stocks return of companies in the previous periods, private companies, and governmental companies for 1997-2005. Then non-parametric tests were applied on the data by SPSS software. It was found by statistical analyses that there is not a significant difference between stocks return of private and governmental companies. There is a significant difference between stocks return of private companies before and after privatization. There is a significant difference between stocks return of private companies in the five sub-periods. The most increment was in the first three years and the most decrement was in the fourth year after privatization.
