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Purpose This paper aims to assess auditor narcissism’s effect on audit market competition (auditor concentration, clients’ concentration and competitive pressure). Design/methodology/approach This paper’s method is descriptive-correlational based on published information from listed firms on the Tehran Stock Exchange from 2012 to 2018 using a sample of 188 firms (1,310 observations). The method used for hypothesis testing is linear regression using panel data. Findings The results show a negative and significant relationship between auditor narcissism and audit market competition and its indices, including auditor concentration, clients’ concentration and competitive pressure. Moreover, a positive and significant relationship was observed between audit quality and audit market competition and its indices, including auditor concentration, client concentration and competitive pressure. Originality/value To analyzes competition indices in the audit market (auditor concentration, clients’ concentration and competitive pressure). The variable is assessed once more using the exploratory factor analysis of the so-called three variables single variable, named audit market competition. So the central question of the study is investigated within a broader sense. Moreover, as the present study is carried out in the emergent financial markets with extremely competitive audit markets to figure out the effect of auditors’ intrinsic characteristics on such markets’ competitiveness, it can provide useful information in this field.

Financial statements as well as financial standards are always considered as primary sources for getting rich information of firms. The standards are normally divided in two categories of economic and accounting and each of these standards shows one of the specifications of the company and has its own advantageous and disadvantageous. There are different standards, which are used for firm assessment. Therefore, a company with more gained prominences has more change to succeed in attracting credits and financing from the capital market. Under such circumstances, such a company can attract more finance and it can be sold sooner on the stock exchange. This paper tries to investigate on the free cash flow as an effective factor in specifying the real value of the business enterprises on 56 selected firms from Tehran Stock Exchange. The results of this study have disclosed that, there was a direct and meaningful relationship between free cash flow of the business enterprises and their real values. Second, the real values of the business enterprises are more than their predicted values. Finally, the predicted value of the business enterprises on the basis of the free cash flow is more than their market value.

In this study, we examined the relationship between the dividend policy and shares liquidity under different criteria on 80 selected firms listed on Tehran Stock Exchange over the period 2007-2011. We used of Amivest, turnover, Gopalan and flow measures for shares liquidity. Using some statistical tests, the study has determined that there was not any meaningful relationship between Amivest liquidity with dividend policy. However, the study detected a reverse relationship between turnover liquidity and with dividend policy, and direct relationship between Gopalan liquidity with dividend policy and between flow liquidity with dividend policy.

This paper studies the relationship between dividend changes and future profitability of listed companies in Tehran Stock Exchange. Using the information of 191 companies, the study has implemented some regression techniques. The results of the research model analysis indicate that the changes in dividend contain significant and important information content, for the future profitability and dividend changes, and have an important and positive impact on the future profitability of the company. The results also show that changes in dividend can improve the company's future performances and messages to recovery the activities and future performance of the company. However, the results have shown the greatest impact on the performance of the dividend changes, for a year after considered year and not for two years after. In other words, the information content of dividend changes are more about the performance of the next year and the information provided is lower in the next two years.