Explaining the mediating role of the factors affecting the delay in the auditor's report on the relationship between income-cost matching and additional stock price fluctuations

Subject Areas :

Hamid Khedmatgozar ¹ , Mojtaba Maleki Chubari ² , Sina Kheradyar ³

1 - Department of Accounting, Rasht Branch, Islamic Azad University, Rasht, Iran
2 - Department of Accounting, lahijan Branch, Islamic Azad University, Lahijan, Iran
3 - Assistant Professor, Department of Accounting, Rasht Branch, Islamic Azad University, Rasht, Iran

Received: 2024-04-30 Accepted : 2024-05-28 Published : 2024-06-30

Keywords: Income-expense reconciliation, excess stock price volatility, delay in audit report,

Abstract :

Accounting information is provided to users in the form of financial reports. Independent auditors provide the basis and necessary conditions for the quality of accounting information and financial reporting on time. Therefore, the delay in providing audit reports can affect the company's performance and even the company's stock price. In this research, the theory related to the matching principle in relation to stock price fluctuations was investigated. The main approach of the mentioned theory is that weak matching acts as a disturbance in the economic relationship between income and cost, and as a result, it increases the volatility in stock prices. The results of this research showed a strong compatibility with the existing theory. This research aims to explain the mediating role of the factors affecting the delay in the auditor's report on the relationship between income-cost matching and additional stock price fluctuations using the combined DEMATEL and ANP methods in the period from 1393 to 1399 in 150 companies admitted to the stock exchange. Bahadar Tehran has been done. In order to identify and rank the factors affecting the delay of the auditor's report, the Delphi-fuzzy method was used, and to determine the intensity of etherability and effectiveness, and finally, the fuzzy Dimetal method and the ANP network analysis method were used. The results of the research showed that the delay in the auditor's report plays a mediating role in the relationship between compliance with the principle of compliance and additional fluctuations in price.

References:


منابع:
بیات، علی؛علی احمدی، سعید (1393). تاخیر حسابرسی و به موقع بودن گزارش مالی. پژوهش¬های حسابداری مالی و حسابرسی، دوره ششم، شماره22، ص¬ص 97-121.
حاجیها، زهره؛ رفیعی، آزاده (1393). تاثیر کیفیت عملکرد حسابرسی داخلی بر به هنگام بودن گزارش حسابرسی مستقل. پژوهش¬های حسابداری مالی و حسابرسی، دوره ششم، شماره24، ص¬ص 121-137.
حیدریان، سجاد؛ یوسف¬پور، فاطمه؛ فریدی مهر، پوریا. (1399). "تاثیر تاخیر غیرعادی گزارش حسابرس بر نوسانات قیمت سهام و نوسانات سود: نقش تعدیلی بحران مالی"، فصلنامه پژوهش¬های معاصر در علوم مدیریت و حسابداری، سال دوم، شماره6، پاییز.
خردیار، سینا، شیرنژاد، لیلا. (1394). "بررسی رابطه بین نوسانات اضافی قیمت سهام با بازده مورد انتظار در شرکت¬های پذیرفته شده در بورس اوراق بهادار تهران". کنفرانس بین المللی اقتصاد مدیریت و علوم اجتماعی.
کاظمی، حسینی؛ طرینی، مصطفی. (1390). "رابطه تطابق درآمد و هزینه با نوسان¬پذیری و پایداری سود". فصلنامه مطالعات حسابداری، شماره 29.
لاری دشت بیاض، محمود؛ قناد، مصطفی؛ فکور، حسین (1397). ویژگی¬های کمیته حسابرسی و تاخیر در گزارش حسابرسی، پژوهش¬های حسابداری مالی و حسابرسی، سال دهم، شماره 37، بهار، ص¬ص 215-241.
نعمتی، نسرین؛ گرجی زاده، داوود؛ خان محمدی، محمد حامد. (1400). " عوامل موثر بر تاخیر گزارش حسابرسی در شرکت¬های پذیرفته شده در بورس اوراق بهادار تهران". رویکردهای پژوهشی نوین در مدیریت و حسابداری. 5(52)، صص 138-157.
Agustini, W. F., Affianti, I. R., & Putri, E. R. (2018). Stock price prediction using geometric Brownian motion. In Journal of Physics: Conference Series: vol. 974 (p. 012047). IOP
Publishing.
Dumas, B. (2003). "Why the excess Volatility?" In INSEAD, Europlace Institute Conference.
Dichev,Ilia D؛Tang,Vicki Wei, (2008)." Matching and the changing properties of accounting earnings over the last 40 years", Ross School of Business at the University of Michigan.
Fu, J., Chen, X., Liu, Y., & Chen, R. (2022). Managerial ability and stock price synchronicity. Research in International Business and Finance, 60(1), 10.1016/j.ribaf.2021.101606
Jiang, F., and Kim, K. A. (2015). Corporate governance in China: A modern perspective. Journal of Corporate Finance. 32: 190–216.
Habib, A. and Bhuiyan, M.B.U. (2018). "Audit firm industry specialization and the audit report lag". Journal of International Accounting, Auditing and Taxation, 20(1), 32-44.
Kam-Wah Lai, (2020)," Audit Report Lag, Audit Fees, and Audit Quality Following an Audit Firm Merger: Evidence from Hong Kong", Journal of International Accounting, Auditing and Taxation, Department of Accounting and Banking, Chu Hai College of Higher Education, Tuen Mun, Hong Kong, https://doi.org/10.1016/j.intaccaudtax.2019.100271
Mamun, M.A., Balachandran, B., Duong, H.N. (2019). Powerful CEOs and Stock Price Crash Risk. Working paper, La Trobe University.
Qi Shi, Yong ye, Gang ye, Gang zhao (2023). Speculation and clarification announcements on stock price fluctuations: Why are rumours plausible and hard to clarify? International Review of Economics & Finance. Volume 85, May 2023, Pages 473-487.
Tazik, H. & Mohamed, Z. M. (2014). "Accounting information system effectiveness, foreign ownership and timeliness of corporate financial report". Proceedings of 5th Asia-Pacific Business Research Conference 17-18 February, 2014, Hotel Istana, Kuala Lumpur, Malaysia. http://www.wbiworldconpro.com/uploads/malaysiaconference2014/accounting/1392180388_116-Hasan.pdf. [4 Apr. 2014].
Wang, Q., Li, X and Liu, Q. (2022). Empirical research of accounting conservatism, corporate governance and stock price collapse risk based on panel data model. Connection Science, 33(4), 995-1010.
Xuekui Shangguan, Donghang Liu, Yanjie Wang (2023). Progress and prospects of data-driven stock price forecasting research. International Journal of Cognitive Computing in Engineering 4 (2023). 100–108