معاملات با اشخاص وابسته و ارتباط آن با رفتار کارا یا فرصت‌طلبانۀ مدیریت سود

اقتصاد پولی مالی

مقاله 5، دوره 25، شماره 15، اردیبهشت 1397، صفحه 105-134

نوع مقاله: پژوهشی

شناسه دیجیتال (DOI): 10.22067/pm.v25i16.64300

نویسندگان

مصطفی قناد؛ محمدرضا عباس‌زاده^* ؛ بهزاد کاردان

دانشگاه فردوسی مشهد

چکیده

معاملات با اشخاص وابسته پدیده‌ای است که افزون بر اینکه رسوایی‌های اخیر مالی را بدان نسبت می‌دهند؛ می‌تواند موجب از دست رفتن ثروت سهامداران شود و مدیران به جهت سرپوش گذاشتن بر روی این انتقال ثروت، به مدیریت سود اقدام کنند. بنابراین هدف اصلی این پژوهش بررسی رابطه معامله با اشخاص وابسته و مدیریت سود در شرکت‌های پذیرفته شده در بورس اوراق بهادار تهران است. برای نیل به این هدف، افزون بر بررسی ارتباط مدیریت سود و معامله با اشخاص وابسته در کل شرکت‌ها، این رابطه برای گروه شرکت‌های دارای رفتار مدیریت سود کارا و فرصت‌طلبانه نیز آزمون شده است. به‌منظور آزمون فرضیه‌های پژوهش از اطلاعات مالیِ 164 شرکت در بازۀ زمانی 1386 تا 1394 استفاده شده و تجزیه‌وتحلیل اطلاعات با استفاده از الگوی رگرسیون چندمتغیره و داده‌های ترکیبی صورت پذیرفته است. نتایج حاکی از وجود ارتباط مثبت و معنادار بین مدیریت سود و معاملات با اشخاص وابسته است. افزون براین، رابطه منفی و معناداری میان معاملات با اشخاص وابسته و مدیریت سود فرصت‌طلبانه یافت شد که نشان از کارا بودن معاملات با اشخاص وابسته دارد. همچنین یافته‌ها، وجود رابطۀ مثبت و معنادار بین معاملات با اشخاص وابسته و مدیریت سود کارا را تأیید نمود که مؤید کارایی معاملات با اشخاص وابسته در بورس اوراق بهادار تهران است.

کلیدواژه‌ها

معامله با اشخاص وابسته؛ رفتار مدیریت سود؛ مدیریت سود کارا؛ مدیریت سود فرصت‌طلبانه؛ اقلام تعهدی اختیاری

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