Jamal Barzegari khanagha - Academia.edu (original) (raw)

Papers by Jamal Barzegari khanagha

International Journal of Management and Business Research, Jul 1, 2011

International Journal of Management and Business Research, 2011

Middle East countries have begun to implement economic reforms to stimulate private investment, p... more Middle East countries have begun to implement economic reforms to stimulate private investment, promote economic growth and support the transition to market economy. Although, it is difficult to define the direct impact of the accounting system reform on economic transformation, as there are many other conditions that have influence on the transition process. However, with the central position of financial reporting and control in the economic system based on market economy, it is reasonable to assume that countries that are more effective in reforming the accounting system would move faster toward economic transformation. This paper examines the value relevance of accounting information in Saudi Arabia for the period 1993-2008, before and after revising national accounting standards, which could express effects of reform in national accounting standards by The Saudi Organization for Certified Public Accountants (SOCPA). The results obtained from a combination of regression and port...

JOURNAL OF ACCOUNTING KNOWLEDGE, 2020

The aim of this study was to provide a model for tax risk measurment in the first step, and to ex... more The aim of this study was to provide a model for tax risk measurment in the first step, and to examine the impact of tax risk and social responsibility as well as their interactive effect on the value of companies accepted in the Iranian capital market in single-, three-, four-and five-factor pricing models, in the next step. Another aim was to compare the explanatory power of the models of capital asset pricing. Methods: In this study, the data of 103 companies listed in the Tehran Stock Exchange, TSE, during the years 2011-2017 were collected, and then, analyzed using panel data estimation model. This research is an applied and analytical-explanatory one. Results: The research findings showed that tax risk and social responsibility have significant effects on the value of the company in all four capital asset pricing models in the companies in the TSE. Conclusion: The effect of tax risk on company value is an opposite effect, the impact of social responsibility on company value is a direct effect, but the interactive effect of tax risk and social responsibility on company value is not significant. Comparing the models, it is shown that the five-factor model explains the relationship between these variables in the Iranian capital market better than other models.

Iranian Journal of Management Studies, 2019

The purpose of this study is to investigate the effect of corporate governance (CG), corporate so... more The purpose of this study is to investigate the effect of corporate governance (CG), corporate social responsibility (CSR) and their interactive effect on the value of companies listed on the Tehran Stock Exchange. For this purpose, the data of 194 companies listed on this stock exchange, which was selected using a systematic elimination method, from 2011-2017 were collected and analyzed using the pool data technique. This research is applied and is an analytical-explanatory study. The research findings showed that corporate governance, social responsibility, and the interactive effect of corporate governance and social responsibility have a direct effect on the company's value in all four models of capital asset pricing in the companies listed in the Tehran Stock Exchange. It was also shown in the comparison of models that the market-based, single-factor model explains the relationship between these variables better than other models discussed in this study.

African Journal of Business Management, Jan 4, 2011

This paper examines the value relevance of accounting information in Iran for the period 1996-200... more This paper examines the value relevance of accounting information in Iran for the period 1996-2008, before and after the codification of national accounting standard in 2001, which could describe the effect of codification of the first national accounting standards by The Iranian Association of Certified Public Accountants. The results obtained from a combination of regression and portfolio approaches, show accounting information in Iran is value relevant and value relevance of Earnings Per Share (EPS) is higher than book value of equity per share (BVP). Moreover, a comparison of the results for the periods before and after reform, based on both regression and portfolio approaches, shows a decline in value relevance of accounting information after the reform in accounting standards. It could be interpreted to mean that codification of the first national accounting standards did not improve relevancy of accounting numbers in the Tehran stock exchange.

African Journal of Business Management, Jun 28, 2013

This paper examines the value relevance of accounting information in selected Middle Eastern coun... more This paper examines the value relevance of accounting information in selected Middle Eastern countries (Bahrain, Saudi Arabia and UAE) for the per-period and post-period of accounting reforms, which could describe the effect of accounting standards reform in these countries. The result obtained from portfolio approach shows accounting information is value relevant to investor in all selected stock exchanges. A comparison of the results for the periods before and after reforms shows an improvement in value relevance of accounting information after the reform in accounting standards in Bahrain and Saudi Arabia stock markets, while the results for UAE stock market shows a decline in value relevance of accounting information after the reform in accounting standards. It could be interpreted that following IFRS in UAE did not improve value relevancy of accounting information.

In the past, stock markets in the Middle East have been widely ignored by international investors... more In the past, stock markets in the Middle East have been widely ignored by international investors due to imposed limitations on foreign stock ownership, the lack of common accounting standards and corporate transparency, or they have been simply dismissed on the basis of economic and political uncertainty. Currently, most of the Middle East countries had some economic reforms and structural adjustment programs (e.g. changes on institutional setting and regulations such as establishing security market regulation, investor protections, trading rules based on shared regulatory responsibility, etc.). Following improvements in financial markets, the Middle East accounting standards have also been reformed to improve the quality of accounting information. Thus, the role of the Middle East stock exchanges have recently become more effective in the international financial system due to the efforts made to increase development in the areas of financial markets, accounting and economic growth...

Regarding the expansion of economic activities, today,development of financial markets and stimul... more Regarding the expansion of economic activities, today,development of financial markets and stimulation of investment in capital markets, especially in Stock Exchange by natural and legal persons,are the most important tools to make the right decisions and gain expected and optimum use of financial resources, access to accurate information, timely, accurate, and realistic analysis of information. Besides, it is expected that in efficient capital markets,all the available information is quickly reflected in the prices of securities.The aim of this study is to investigate the role of financial information disclosure quality, conservative company management, andtheir mutual impact on the relevance of accounting information.As in previous studies, the impact of systematic risk (beta) and the ratio of book value to market value on the relevance of accounting information have been approved, in this study, each of these variables are considered as control variables of the model and their im...

This paper examines the value relevance of accounting information in Selected Middle Eastern coun... more This paper examines the value relevance of accounting information in Selected Middle Eastern countries (Bahrain, Saudi Arabia and UAE) for the per-period and post-period of accounting reforms, which could be described the effect of accounting standards reform in these countries. The results obtained from a combination of regression and portfolio approach, show that accounting information is value relevant in selected stock exchanges. Keyword: Value Relevance, IFRS, Accounting Information, Bahrain, UAE, Saudi Arabia

Abstract. Given the growing importance of earnings timing of stock exchange, the recognition of c... more Abstract. Given the growing importance of earnings timing of stock exchange, the recognition of contributing factors can be helpful in improving it. Market timing is a criterion that can be studied with respect to decision-making on earnings timing. One of the contributing factors in timing earnings is earnings management. It can be considered a dimension of real and accrual based knowledge management. Hence, the purpose of the study is to examine earnings timing with respect to market expansionary period and firms’ discretionary accrual-based earnings management. To do this, Jones’s modified model was used to determine level of discretionary accruals. The population of the present study encompasses all non-financial listed companies in Iran’s stock exchanges, and research sample consisted of 111 firms. Given the fact that the period of the research was a five-year course starting 2008 through 2012, data were composed of 555 observations. In order to test hypotheses, a multivariate ...

African Journal of Business Management, Jun 28, 2013

This paper examines the value relevance of accounting information in selected Middle Eastern coun... more This paper examines the value relevance of accounting information in selected Middle Eastern countries (Bahrain, Saudi Arabia and UAE) for the per-period and post-period of accounting reforms, which could describe the effect of accounting standards reform in these countries. The result obtained from portfolio approach shows accounting information is value relevant to investor in all selected stock exchanges. A comparison of the results for the periods before and after reforms shows an improvement in value relevance of accounting information after the reform in accounting standards in Bahrain and Saudi Arabia stock markets, while the results for UAE stock market shows a decline in value relevance of accounting information after the reform in accounting standards. It could be interpreted that following IFRS in UAE did not improve value relevancy of accounting information.

African Journal of …, 2011

African Journal of Business Management Vol. 5(1), pp. 96-107, 4 January, 2011 Available online at... more African Journal of Business Management Vol. 5(1), pp. 96-107, 4 January, 2011 Available online at http://www.academicjournals.org/AJBM ISSN 1993-8233 ©2011 Academic Journals ... The impact of reforms on the value relevance of ... Jamal Barzegari Khanagha1*, Shamsher ...

This is an Open Access article distributed under the terms of the Creative Commons Attribution-No... more This is an Open Access article distributed under the terms of the Creative Commons Attribution-Noncommercial 4.0 Unported License, permitting all non-commercial use, distribution, and reproduction in any medium, provided the original work is properly cited.

International Journal of Economics and Financial Issues, 2011

This paper examines the value relevance of accounting information in per and postperiods of Inter... more This paper examines the value relevance of accounting information in per and postperiods of International Financial Reporting Standards implementation using the regression and portfolio approaches for sample of the UAE companies. The results obtained from a combination of regression and portfolio approaches, show accounting information is value relevant in UAE stock market. A comparison of the results for the periods before and after adoption, based on both regression and portfolio approaches, shows a decline in value relevance of accounting information after the reform in accounting standards. It could be interpreted to mean that following to IFRS in UAE didn't improve value relevancy of accounting information. However, results based on and portfolio approach shows that cash flows' incremental information content increased for the post-IFRS period.

The financial management seeks to maximize the shareholders' wealth. That is why the financial le... more The financial management seeks to maximize the shareholders' wealth. That is why the financial leverage should be evaluated for its influence on the firm value. The main objective of this paper is to examine the relationship between the changes in the financial leverage, stock returns and firm value. To achieve this goal, the association between the financial leverage and some variables such as stock returns, expected future return, future investment, and future operational performance on the firm value has been tested. In this regard, financial leverage has been evaluated with the two measures of book value or market value. Using the multivariate regressions and the data of 98 selected firms listed on the Tehran Stock Exchange during 2001 to 2010, the relationships between the variables have been analyzed. The findings of the study indicate that the variations in the financial leverage and stock return are positively associated. However, it was found that there is no significant relationship between the changes in the financial leverage and expected f uture returns. It was also shown that the relationship between the changes in the financial leverage and future investment and future operating performance are different in terms of either market value or book value. Perceiving the type of the relationship between the changes in the financial leverage and assets' returns might be an indicator to select an optimal compound of debts used as the finance methods which lead to increasing return on assets and finally firm value.

International Journal of Management and Business Research, Jul 1, 2011

International Journal of Management and Business Research, 2011

Middle East countries have begun to implement economic reforms to stimulate private investment, p... more Middle East countries have begun to implement economic reforms to stimulate private investment, promote economic growth and support the transition to market economy. Although, it is difficult to define the direct impact of the accounting system reform on economic transformation, as there are many other conditions that have influence on the transition process. However, with the central position of financial reporting and control in the economic system based on market economy, it is reasonable to assume that countries that are more effective in reforming the accounting system would move faster toward economic transformation. This paper examines the value relevance of accounting information in Saudi Arabia for the period 1993-2008, before and after revising national accounting standards, which could express effects of reform in national accounting standards by The Saudi Organization for Certified Public Accountants (SOCPA). The results obtained from a combination of regression and port...

JOURNAL OF ACCOUNTING KNOWLEDGE, 2020

The aim of this study was to provide a model for tax risk measurment in the first step, and to ex... more The aim of this study was to provide a model for tax risk measurment in the first step, and to examine the impact of tax risk and social responsibility as well as their interactive effect on the value of companies accepted in the Iranian capital market in single-, three-, four-and five-factor pricing models, in the next step. Another aim was to compare the explanatory power of the models of capital asset pricing. Methods: In this study, the data of 103 companies listed in the Tehran Stock Exchange, TSE, during the years 2011-2017 were collected, and then, analyzed using panel data estimation model. This research is an applied and analytical-explanatory one. Results: The research findings showed that tax risk and social responsibility have significant effects on the value of the company in all four capital asset pricing models in the companies in the TSE. Conclusion: The effect of tax risk on company value is an opposite effect, the impact of social responsibility on company value is a direct effect, but the interactive effect of tax risk and social responsibility on company value is not significant. Comparing the models, it is shown that the five-factor model explains the relationship between these variables in the Iranian capital market better than other models.

Iranian Journal of Management Studies, 2019

The purpose of this study is to investigate the effect of corporate governance (CG), corporate so... more The purpose of this study is to investigate the effect of corporate governance (CG), corporate social responsibility (CSR) and their interactive effect on the value of companies listed on the Tehran Stock Exchange. For this purpose, the data of 194 companies listed on this stock exchange, which was selected using a systematic elimination method, from 2011-2017 were collected and analyzed using the pool data technique. This research is applied and is an analytical-explanatory study. The research findings showed that corporate governance, social responsibility, and the interactive effect of corporate governance and social responsibility have a direct effect on the company's value in all four models of capital asset pricing in the companies listed in the Tehran Stock Exchange. It was also shown in the comparison of models that the market-based, single-factor model explains the relationship between these variables better than other models discussed in this study.

African Journal of Business Management, Jan 4, 2011

This paper examines the value relevance of accounting information in Iran for the period 1996-200... more This paper examines the value relevance of accounting information in Iran for the period 1996-2008, before and after the codification of national accounting standard in 2001, which could describe the effect of codification of the first national accounting standards by The Iranian Association of Certified Public Accountants. The results obtained from a combination of regression and portfolio approaches, show accounting information in Iran is value relevant and value relevance of Earnings Per Share (EPS) is higher than book value of equity per share (BVP). Moreover, a comparison of the results for the periods before and after reform, based on both regression and portfolio approaches, shows a decline in value relevance of accounting information after the reform in accounting standards. It could be interpreted to mean that codification of the first national accounting standards did not improve relevancy of accounting numbers in the Tehran stock exchange.

African Journal of Business Management, Jun 28, 2013

This paper examines the value relevance of accounting information in selected Middle Eastern coun... more This paper examines the value relevance of accounting information in selected Middle Eastern countries (Bahrain, Saudi Arabia and UAE) for the per-period and post-period of accounting reforms, which could describe the effect of accounting standards reform in these countries. The result obtained from portfolio approach shows accounting information is value relevant to investor in all selected stock exchanges. A comparison of the results for the periods before and after reforms shows an improvement in value relevance of accounting information after the reform in accounting standards in Bahrain and Saudi Arabia stock markets, while the results for UAE stock market shows a decline in value relevance of accounting information after the reform in accounting standards. It could be interpreted that following IFRS in UAE did not improve value relevancy of accounting information.

In the past, stock markets in the Middle East have been widely ignored by international investors... more In the past, stock markets in the Middle East have been widely ignored by international investors due to imposed limitations on foreign stock ownership, the lack of common accounting standards and corporate transparency, or they have been simply dismissed on the basis of economic and political uncertainty. Currently, most of the Middle East countries had some economic reforms and structural adjustment programs (e.g. changes on institutional setting and regulations such as establishing security market regulation, investor protections, trading rules based on shared regulatory responsibility, etc.). Following improvements in financial markets, the Middle East accounting standards have also been reformed to improve the quality of accounting information. Thus, the role of the Middle East stock exchanges have recently become more effective in the international financial system due to the efforts made to increase development in the areas of financial markets, accounting and economic growth...

Regarding the expansion of economic activities, today,development of financial markets and stimul... more Regarding the expansion of economic activities, today,development of financial markets and stimulation of investment in capital markets, especially in Stock Exchange by natural and legal persons,are the most important tools to make the right decisions and gain expected and optimum use of financial resources, access to accurate information, timely, accurate, and realistic analysis of information. Besides, it is expected that in efficient capital markets,all the available information is quickly reflected in the prices of securities.The aim of this study is to investigate the role of financial information disclosure quality, conservative company management, andtheir mutual impact on the relevance of accounting information.As in previous studies, the impact of systematic risk (beta) and the ratio of book value to market value on the relevance of accounting information have been approved, in this study, each of these variables are considered as control variables of the model and their im...

This paper examines the value relevance of accounting information in Selected Middle Eastern coun... more This paper examines the value relevance of accounting information in Selected Middle Eastern countries (Bahrain, Saudi Arabia and UAE) for the per-period and post-period of accounting reforms, which could be described the effect of accounting standards reform in these countries. The results obtained from a combination of regression and portfolio approach, show that accounting information is value relevant in selected stock exchanges. Keyword: Value Relevance, IFRS, Accounting Information, Bahrain, UAE, Saudi Arabia

Abstract. Given the growing importance of earnings timing of stock exchange, the recognition of c... more Abstract. Given the growing importance of earnings timing of stock exchange, the recognition of contributing factors can be helpful in improving it. Market timing is a criterion that can be studied with respect to decision-making on earnings timing. One of the contributing factors in timing earnings is earnings management. It can be considered a dimension of real and accrual based knowledge management. Hence, the purpose of the study is to examine earnings timing with respect to market expansionary period and firms’ discretionary accrual-based earnings management. To do this, Jones’s modified model was used to determine level of discretionary accruals. The population of the present study encompasses all non-financial listed companies in Iran’s stock exchanges, and research sample consisted of 111 firms. Given the fact that the period of the research was a five-year course starting 2008 through 2012, data were composed of 555 observations. In order to test hypotheses, a multivariate ...

African Journal of Business Management, Jun 28, 2013

This paper examines the value relevance of accounting information in selected Middle Eastern coun... more This paper examines the value relevance of accounting information in selected Middle Eastern countries (Bahrain, Saudi Arabia and UAE) for the per-period and post-period of accounting reforms, which could describe the effect of accounting standards reform in these countries. The result obtained from portfolio approach shows accounting information is value relevant to investor in all selected stock exchanges. A comparison of the results for the periods before and after reforms shows an improvement in value relevance of accounting information after the reform in accounting standards in Bahrain and Saudi Arabia stock markets, while the results for UAE stock market shows a decline in value relevance of accounting information after the reform in accounting standards. It could be interpreted that following IFRS in UAE did not improve value relevancy of accounting information.

African Journal of …, 2011

African Journal of Business Management Vol. 5(1), pp. 96-107, 4 January, 2011 Available online at... more African Journal of Business Management Vol. 5(1), pp. 96-107, 4 January, 2011 Available online at http://www.academicjournals.org/AJBM ISSN 1993-8233 ©2011 Academic Journals ... The impact of reforms on the value relevance of ... Jamal Barzegari Khanagha1*, Shamsher ...

This is an Open Access article distributed under the terms of the Creative Commons Attribution-No... more This is an Open Access article distributed under the terms of the Creative Commons Attribution-Noncommercial 4.0 Unported License, permitting all non-commercial use, distribution, and reproduction in any medium, provided the original work is properly cited.

International Journal of Economics and Financial Issues, 2011

This paper examines the value relevance of accounting information in per and postperiods of Inter... more This paper examines the value relevance of accounting information in per and postperiods of International Financial Reporting Standards implementation using the regression and portfolio approaches for sample of the UAE companies. The results obtained from a combination of regression and portfolio approaches, show accounting information is value relevant in UAE stock market. A comparison of the results for the periods before and after adoption, based on both regression and portfolio approaches, shows a decline in value relevance of accounting information after the reform in accounting standards. It could be interpreted to mean that following to IFRS in UAE didn't improve value relevancy of accounting information. However, results based on and portfolio approach shows that cash flows' incremental information content increased for the post-IFRS period.

The financial management seeks to maximize the shareholders' wealth. That is why the financial le... more The financial management seeks to maximize the shareholders' wealth. That is why the financial leverage should be evaluated for its influence on the firm value. The main objective of this paper is to examine the relationship between the changes in the financial leverage, stock returns and firm value. To achieve this goal, the association between the financial leverage and some variables such as stock returns, expected future return, future investment, and future operational performance on the firm value has been tested. In this regard, financial leverage has been evaluated with the two measures of book value or market value. Using the multivariate regressions and the data of 98 selected firms listed on the Tehran Stock Exchange during 2001 to 2010, the relationships between the variables have been analyzed. The findings of the study indicate that the variations in the financial leverage and stock return are positively associated. However, it was found that there is no significant relationship between the changes in the financial leverage and expected f uture returns. It was also shown that the relationship between the changes in the financial leverage and future investment and future operating performance are different in terms of either market value or book value. Perceiving the type of the relationship between the changes in the financial leverage and assets' returns might be an indicator to select an optimal compound of debts used as the finance methods which lead to increasing return on assets and finally firm value.