Iranian Financial Engineering Association(IFEA) International Journal of Finance & Managerial Accounting 2588-4379 1 4 2017 01 01 Is Hesaabdaaree an Adequate Equivalent for Accounting? 1 11 10265 EN Ahmad Nasseri Assistant Professor of Accounting, University of Sistan and Baluchestan, Zahedan, Iran (Corresponding Author) Hassan Yazdifa Professor of Accounting, Salford University, UK Mohammad Ali Mahmoodi Associate Professor of Persian Language and Linguistics, University of Sistan and Baluchestan, Zahedan, Iran Akram Arefi M.A.in Persian Language and Linguistics, University of Sistan and Baluchestan, Zahedan, Iran Journal Article 2016 10 21 Some of the difficulties and misunderstandings that happen in accounting theory, practice, regulation and education are grounded in language and linguistics. As an illustration of this the Persian equivalent of 'accounting' is linguistically analysed to reveal how a mistranslation may cause difficulties in understanding and improving Iranian Accounting. This paper shows how Hesaabdaaree is not a complete Persian equivalent for 'Accounting'. The examination is followed through two linguistic methods. First, a localistic lexical semantic approach is applied. Hesaabdaaree is a combination of an Arabic noun and a Persian suffix. It is then argued that the impuissance and limitations of hesaabdaaree in transferring all conceptual aspects of accounting has not arisen from hesaab, but daaree. Next, a holistic lexical semantic approach is applied to examine the sense of Hesaabdaaree within its word family to find out if it conveys the precise sense of accounting. Both the localistic and holistic examinations reveal the weaknesses of the Persian word Hesaabdaaree in transferring the exact meaning of 'Accounting'. This paper adds to the existing body of accounting theory and methodology by: a) introducing and examining a linguistic problem (i.e. translation) that causes difficulties and misunderstandings within the realm of accounting; b) practically examining the relevance of a linguistic method in accounting research; and c) analysing the weaknesses of the word Hesaabdaaree in transferring the full sense of 'Accounting'.

http://www.ijfma.ir/article_10265_88591b4d3219675bdeb33584b755f680.pdf

Iranian Financial Engineering Association(IFEA) International Journal of Finance & Managerial Accounting 2588-4379 1 4 2017 01 01 Studying the Adjustment Amount of Ranking the Performance of Mutual Funds Based on Omega Ratio and Real Return 13 19 10266 EN Zahra Pourzamani Department of Accounting, Associate Professor, Central Tehran Branch, Islamic Azad University, Tehran, Iran, Journal Article 2016 10 11 One of the main functionalities of capital market is to enhance liquidity in the market. Mutual funds are modern financial institutions which are designed with the aim of absorbing funds from investors and devote them to buy a variety of securities in order to reduce investment risks, exploit the economies of scale and finally make a reasonable return for investors. Regarding effective role of these funds, the aim of this investigation is to compare the performance assessment of mutual funds based on Omega Ratio and the real return. A sample of 35 mutual funds for the period of 2011 to 2016, in order to make a fair comparison between the omega ratio and real performance. The hypotheses were analyzed through correlation test and by using the two non-parametric statistics of 'Spearman's correlation coefficient' and 'Kendall's rank correlation coefficient'. The analysis results have shown that in Iranian capital market, a joint venture between fund rankings based on omega ratio and real returns.

http://www.ijfma.ir/article_10266_0634ac7160d3fd64ddf19bdcbdd401bb.pdf

Iranian Financial Engineering Association(IFEA) International Journal of Finance & Managerial Accounting 2588-4379 1 4 2017 01 01 Comparative Study of Capital Assets Pricing Models (CAPM) with Extrapolating Capital Assets Pricing Models (X-CAPM) in Tehran Exchange Market 21 39 10268 EN F. Rahnamay Roodposhti Professor, Faculty of Economic and Management, Science and Research Branch, Islamic Azad University, Tehran, Iran Corresponding author Zahra Houshmand Neghabi Faculty Member of Islamshahr, Azad University and Phd Candidate of Financial Management, Economic and Management College, Science and Research Branch, Islamic Azad University, Tehran, Iran Journal Article 2016 10 12 <span style="line-height: 115%; font-family: 'Times New Roman',serif; font-size: 9pt; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin; mso-bidi-language: AR-SA; mso-ansi-language: EN-US; mso-fareast-language: EN-US;">The main objective of this article is to present a comparative study of capital assets pricing models (CAPM) with extrapolating capital assets pricing models (X-CAPM) of companies admitted in Tehran Exchange Market which is accomplished for the first time by investigators of this research in Iran. Accordingly, the statistical population under study of this research includes all companies admitted in Tehran Exchange Market form 2006- 2015. The present research method considering the current payment situation, is from descriptive- correlation type. In this research, both methods of gathering information including librarian and field methods are utilized. The required studies about research theoretical bases, research thematic literature, problem backgrounds and research subject have been made by librarian methods and for studying references, theses, and research about the subject internet bases have been used. Also the present research is included in survey researches, regarding its methods. In order to examine the hypotheses of this research, we used multivariate regression model. The findings of research shows the extrapolating capital assets pricing models (X-CAPM),companies admitted in Tehran Exchange Market, hasn’t had high explanatory capability relative to other models, i.e. capital assets pricing models (CAPM), for instance reductive- undesirable capital assets pricing models (D-CAPM), adjustable capital assets pricing models (X-CAPM), interperiod capital assets pricing models, conditional capital assets pricing models (I-CAPM), revised capital assets pricing models (R-CAPM), consumption-based capital assets pricing models (R-CAPM), rewarding capital assets pricing models (RRM), behavioral capital assets pricing models (BAP

http://www.ijfma.ir/article_10268_b433da1b32b5ca96c0ba7fcb9edba97d.pdf

Iranian Financial Engineering Association(IFEA) International Journal of Finance & Managerial Accounting 2588-4379 1 4 2017 01 01 The Value Relevance of Net Financial Expenses during the Period of Imposing Sanctions: The Case of Iran 41 53 10269 EN 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 Journal Article 2016 11 04 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. 35 companies were selected from firms listed in Tehran Stock Exchange and we a period of eleven years, 2005-2015 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 2009 onwards

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Iranian Financial Engineering Association(IFEA) International Journal of Finance & Managerial Accounting 2588-4379 1 4 2017 01 01 Endowment and Charity Financing Model to Develop Science and Technology 55 70 10270 EN Mehdi Madanchi Assistance Professor, Faculty of e- learning, Islamic Azad University. Shadi Shahverdian Assistant Professor, Department of Business Administration, Shahr-e-Qods Branch, Islamic Azad University, Tehran,Iran Fatemeh Hamidifar Assistance Professor, Faculty of Education, Islamic Azad University, Central Tehran Branch. Journal Article 2016 10 04 Financing is one of the essential necessitates for science and technology development that many universities have paid attention to it and through establishing financing funds including endowment funds have realized this important issue. So endowment today has played a crucial role in financing and the issue of endowment, benefactors and strategic position of benefactors and donors has been one of the main discourses of Science Ministry in staff and planning area. Endowment considering religious, cultural and historical characteristics of Iran always has been paid attention from benefactors of this territory. Currently, much of endowments are in the form of constant assets, properties and real estate. Given the changing functions of endowment constant assets and people’s needs over time, in many cases using incomes and benefits of dedicated assets along with benefactor’s initial objectives isn’t possible and it has made them static and blocked. As development of education, particularly in higher education section and performing scientific and applied researches and producing science, in view of increasing development of technology can’t be afforded by government and requires public wide participation. This article investigates necessities of establishing endowment funds, potential limitations of establishing endowment funds and also investigates different grounds for setting up such funds in order to development of education and research and considering different involved issues in this area, pattern of endowment financing as scientific findings have been presented. Research method also is based on library work and mostly study of documents, scientific foundations and analytic background.

http://www.ijfma.ir/article_10270_73dd2e5d59ee0b29b52058d4393b170f.pdf

Iranian Financial Engineering Association(IFEA) International Journal of Finance & Managerial Accounting 2588-4379 1 4 2017 01 01 Investigating Bhattacharya Hypothesis about the Effect of Dividend Signal on Information Asymmetry Risk: An Earnings Transparency Approach 71 79 10271 EN Saeed Fathi Associate Professor, Department of Management, Faculty of Administrative Sciences and Economics, University of Isfahan, Isfahan, Iran Corresponding Author Fatemeh Dehghani Poodeh MSc Department of Management, Faculty of Administrative Sciences and Economics, University of Isfahan, Isfahan, Iran Ahmad Googerdchian Assistant Professor in Economics Department, Faculty of Administrative Sciences and Economics, University of Isfahan, Isfahan, Iran Journal Article 2016 09 05 <span style="color: black; line-height: 115%; font-family: 'Times New Roman',serif; font-size: 9pt; mso-fareast-font-family: Calibri; mso-themecolor: text1; mso-fareast-theme-font: minor-latin; mso-bidi-language: AR-SA; mso-ansi-language: EN-US; mso-fareast-language: EN-US;">Information asymmetry in stock market can increase the risk of investment which in turn increases the capital cost of firms. Bhattacharya (1979) proposed a hypothesis that states dividend can act as a powerful signal in order to solve information asymmetry problem. We measured information asymmetry by lack of earnings transparency. Therefore we examine the effect of earnings transparency on capital cost in two portfolios; the first with high dividend and the second with low dividend to test the above hypothesis. The results indicate that earnings transparency can only increase market component of expected return. In other words in the portfolio with low dividend signal there is a negative relation between earnings transparency and expected return (meaning that information asymmetry has not been solved). On the other hands in the portfolio with high dividend, the earnings transparency has no negative effect on capital cost; meaning that dividend signal solved information asymmetry problem

http://www.ijfma.ir/article_10271_1b5959f90b8e4966b8ea257c4352ebe9.pdf

Iranian Financial Engineering Association(IFEA) International Journal of Finance & Managerial Accounting 2588-4379 1 4 2017 01 01 Corporate Social Performance and Internal Control 81 87 10274 EN Sahar Sepasi Assistant Professor, Faculty of Management & Economics, Tarbiat Modares University, Tehran, Iran Corresponding author Hassan Hassani MSc in Accounting, Faculty of Management & Economics, Tarbiat Modares University, Tehran, Iran Journal Article 2016 10 02 This study examines the relationship between corporate social performance and the Company's internal control. For the study, the definition of corporate social performance is used Wood (Wood, 1991) and social performance into the process (internal processes, management) and outcome (social impact) is divided. To assess the social performance of corporate social performance version of the questionnaire was used containers. The analysis of this study is generally divided into two main sections. The first part of the study to determine the ranking of the companies in the field of social functioning in both social accountability processes and consequences of the company's social behavior through the Analytic Hierarchy Process (AHP) was carried out and the second part of the study also examines the relationship between the level of social performance and the company's internal control using logistic regression. The results showed a positive and significant relationship between the environmental assessment and stakeholder management processes social element status of internal control there. If the management issues (one of the social processes) there was no significant relationship with the status of internal control. This relationship shows that companies that have better social performance (the majority of), the status of internal control are desired.

http://www.ijfma.ir/article_10274_2779fda014fbadb761f67dd708c1325e.pdf