Mostafa Hashemi Tilehnouei; Javad Nikkar
Abstract
Cash flow forecasting has significantly increased since 2000 due to more attention paid by investors and financial analysts than before. If cash flows can be predicted appropriately, a significant part of the informational needs associated with cash flows will be provided. In this regard, this study ...
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Cash flow forecasting has significantly increased since 2000 due to more attention paid by investors and financial analysts than before. If cash flows can be predicted appropriately, a significant part of the informational needs associated with cash flows will be provided. In this regard, this study aims to examine the impact of firm characteristics on predictable future cash flows from operating activities by employing present operating cash flow and profitability. Eight hypotheses were developed, and the information was analyzed for 127 firms listed on the Tehran Stock Exchange between 2011 and 2020. The regression model was tested with a fixed effect model using panel data. The study's findings showed that firm characteristics like size, level of competition, and level of supervision positively impact the predicting power of present operating cash flow and profitability in anticipating future operating cash flow. By contrast, the outcomes disclose that characteristics such as the company's life will not significantly affect the predicted strength of present operating cash flow and present profitability to forecast future cash flow from operating activities.
Elham Hamidi; Javad Nikkar; Mostafa Hashemi Tilehnouei
Abstract
Corporate social responsibility (CSR) is a fundamental factor for the survival of any organization. Companies and institutions are active in a society that provides them various opportunities to earn profits and realize their goals. The increasing importance of corporate social responsibility and the ...
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Corporate social responsibility (CSR) is a fundamental factor for the survival of any organization. Companies and institutions are active in a society that provides them various opportunities to earn profits and realize their goals. The increasing importance of corporate social responsibility and the costs required by companies to operate and participate in these issue has led to the purpose of this study to investigate the impact of corporate social responsibility on the managers' behaviors in companies listed on the Tehran Stock Exchange. This study is based on purpose, application and data analysis in the field of causal descriptive studies. In this study, the reflection of managers’ myopic and optimistic behaviors is considered as managers' behaviors. Therefore, two hypotheses were developed to investigate this issue, and data from 174 listed companies were analyzed from 2008 to 2018. The regression model of the research was evaluated using a panel data method with a fixed-effects approach and logistic regression method. The result showed that the fulfillment of corporate social responsibility has a significant negative effect on the optimistic behavior of managers and decreases this type of behavior by managers. On the other hand, the results confirmed that accomplishing corporate social responsibility does not have a significant effect on managers' myopic behavior.