بررسي محافظه كاري در سود حسابداري و رابطه آن با اقلام تعهدي در بورس اوراق بهادار تهران

Investigating of accounting earning conservatism and the itʹs relation with the accruals in the Tehran Stock Exchange

Conservatism is interpreted as asymmetric verification in recognizing good news versus bad news in financial statements. Under this interpretation of conservatism, earnings reflect bad news more quickly than good news. By using firmsʹ stock returns to measure news, the asymmetric timeliness of recognizing good news and bad news can be examined as a measure of conservative behavior as main question of this research in Iranian capital market. In addition, accrual accounting gives managers a lot of choices for determining earning in different periods. And managers have various choices in time of recognizing gains and losses in accrual accounting system; therefore, it is expected as second question of research that bigger part of the asymmetric timeliness is effected by accruals (compared with CFOʹs). To find answers of the research questions, data of 106 firms in Tehran Stock Exchange during 1997-2006 are analyzed by using pooling regression analyze. The results show that earnings are 3.66 times more sensitive to negative than positive stock returns. And about 78 percents of asymmetric timeliness in earnings are explained by accruals.