in this study, provided preliminary evidence on a comprehensive program of study focusing on investors’ behavior in the tehran stock exchange (tse) in 2014. using a survey-based methodology, 561 investors from the tse representing individual investors, mutual fund experts, funding institutions experts, institutional investors, and stock brokers have been randomly selected to respond to a set of...

In this study, I investigate whether market learning explains the absence of the accrual anomaly in recent years by examining three conditions associated with the presence of the anomaly in prior research: (i) a differential relation between future earnings and cash flows versus accruals, (ii) incorrect weighting of cash flows and accruals by investors when predicting earnings, and (iii) associ...

Are institutional monitoring effects induced by the quality and reputation of a firm’s management? We hypothesize that better and more reputable managers can convey more information and give a certifying effect with regard to firm value to informed and potential investors, thus reducing information asymmetry. This study provides empirical evidence to illustrate the positive association between ...

Based on the sample of Chinese A-share listed companies in Shanghai and Shenzhen from 2012 to 2019, this paper focuses effect institutional shareholding speed enterprise internationalization. The empirical results show that overall investor ownership has a significant negative impact rapid international expansion, classified independent investors non-independent have inhibitory corporate intern...

The accrual anomaly is a phenomenon that investors gain future abnormal returns through accruals-based hedge portfolios. This paper first shows that China's institutional investors have a better understanding of the persistence of accounting accruals and they more accurately assess stock prices, and that an accrual-based hedge portfolio yields smaller future abnormal returns for firms with high...