The Value Relevance of Net Financial Expenses during the Period of Imposing Sanctions: The Case of Iran
Publish Year: 1396
نوع سند: مقاله ژورنالی
زبان: English
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شناسه ملی سند علمی:
JR_IJFMA-1-4_004
تاریخ نمایه سازی: 13 آذر 1400
Abstract:
Based on valuation model of residual earnings, we cannot use earnings and losses of balance sheet items recorded in fair value for valuation purposes, for the balance sheet provides a perfect estimate of such items’ value. The purpose of this study is to examine whether net financial expenses are related to the market price of stocks in Iran, because after initial recording of financial debts, no adjustments are done in historical cost regime. We expect to see an improvement in this relationship during severe fluctuations in the country’s economy. ۳۵ companies were selected from firms listed in Tehran Stock Exchange and we a period of eleven years, ۲۰۰۵-۲۰۱۵ was studied. The statistical test for data analysis is regression testing. The results show that net financial expenses are value relevant and there is an increasing trend in value relevance of these expenses during imposing the sanctions. This trend is particularly strong from ۲۰۰۹ onwards
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Authors
Hossein Etemadi
Associate Professor, Faculty of Management & Economics, Tarbiat Modares University, Tehran, Iran Corresponding author
Adel Azar
Full Professor, Faculty of Management & Economics, Tarbiat Modares University, Tehran, Iran
Sasan Babaie
Ph.D. in Accounting, Faculty of Management & Economics, Tarbiat Modares University, Tehran, Iran
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