عدم شفافیت گزارشگری مالی، کیفیت حسابرسی، ریسک سقوط سهام

خلیلیان, بردیا

نوع مقاله : مقاله پژوهشی

نویسنده

بردیا خلیلیان

گروه مدیریت و تجارت بین‌الملل، دانشگاه اوکلند، نیوزلند.

چکیده

شفافیت اطلاعات مالی، همواره به‌عنوان یکی از موثرترین متغیر‌ها در تعیین استراتژی سرمایه‌گذاری در بازارهای مالی مطرح بوده است. علی‌رغم این موضوع مدیران به‌عنوان مسئول تهیه صورت‌های مالی، همواره انگیزه دارند تا برای حفظ منافع خود به تحریف اطلاعات مالی بپردازند. ازجمله اقدامات مدیران که به شفاف نبودن اطلاعات مالی منجر می‌شود، مدیریت یا دست‌کاری سود است. در فرآیند مدیریت سود، مدیران سعی می‌کنند اخبار منفی را در داخل شرکت انباشت کرده، آن را افشا نکنند. هنگامی‌که این توده اخبار منفی انباشته به نقطه اوج خود می‌رسد، به‌یک‌باره وارد بازار شده و به سقوط قیمت سهام منجر می‌شود. هم‌چنین حسابرسان سطح بالا می‌توانند با ایفای نقش به‌عنوان مکانیزم دستگاه حاکمیت شرکتی برای کاهش هزینه‌های نمایندگی، ریسک سقوط را کاهش دهند. هدف این پژوهش، بررسی تاثیر عدم شفافیت گزارشگری مالی و کیفیت حسابرسی بر ریسک سقوط سهام است. به این منظور اطلاعات شرکت‌ها در فاصله زمانی 10 ساله از 1391 تا 1400 بررسی و 113 شرکت انتخاب شد. به‌منظور آزمون فرضیه‌های پژوهش از روش رگرسیون چند متغیره بر مبنای روش تحلیل لجستیک و داده‌های پنلی صورت گرفته است. نتایج حاکی از آن است که عدم شفافیت گزارشگری مالی بر ریسک سقوط سهام تاثیر مثبت و معنادار دارد و کیفیت حسابرسی بر ریسک سقوط سهام تاثیر منفی دارد.

کلیدواژه‌ها

عنوان مقاله [English]

Lack of financial reporting transparency, audit quality, risk of stock fall

نویسنده [English]

Bardia Khalilian

Department of Management and International Business (MIB), University of Auckland, New Zealand.

چکیده [English]

The transparency of financial information has always been propounded as one of the most effective variables to determine the investment strategy in the financial markets. In spite of this subject, managers as those who are responsible for preparing financial statements have always motivation to distort financial information for the purpose of protecting their interests. Among the actions of managers leading to the lack of transparency of financial information is the management or manipulation of earnings in the earnings. The purpose of this research is to investigate the effect of the lack of transparency of financial reporting and audit quality on the risk of falling stocks. For this purpose, the information of the companies in a timespan of 10 years ranged from 2012 to 2022 was examined and 113 companies were selected. In order to test the hypotheses of the research, multivariate regression method based on logistic analysis method and panel data has been used/conducted. The results suggest that the lack of transparency of financial reporting has a positive and significant effect on the risk of crash stocks, and the quality of auditing has a negative effect on the risk of crash stocks. management process, managers try to accumulate the negative news inside the firm and not to disclose it. When this mass of accumulated bad news reaches it's peak, it will suddenly enter the market and cause the stock price to fall. Also, high level auditors can reduce the risk of crash by playing a role as a mechanism of corporate governance system to reduce agency costs.

کلیدواژه‌ها [English]

Lack of transparency of financial reporting
Audit quality
Risk of crash stocks

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مطالعات راهبردی مالی و بانکی

عدم شفافیت گزارشگری مالی، کیفیت حسابرسی، ریسک سقوط سهام

مراجع

مراجع

دوره 1، شماره 2
شهریور 1402
صفحه 93-105

عدم شفافیت گزارشگری مالی، کیفیت حسابرسی، ریسک سقوط سهام

مراجع

مراجع

دوره 1، شماره 2شهریور 1402صفحه 93-105

دوره 1، شماره 2
شهریور 1402
صفحه 93-105