Executive Summary Capital market uses financial information with high disclosure quality, and this information can influence capital market decision-making. Corporate governance research shows that ownership structure can influence financial reporting quality, and thus play an effective role in capital market decision-making. The main purpose of the current study is to examine the impact of ownership structure and disclosure quality on the information asymmetry phenomenon among the listed companies on the Tehran Stock Exchange (TSE). Ownership structure (including ownership concentration and institutional ownership) and disclosure quality (including reliability and timeliness) are considered as independent variables, and their impact is examined on the dependent variable (information asymmetry). Consistent with extant literature, bid-ask spread is used as a proxy variable for information asymmetry. The statistical results, based on data collected from 102 listed companies on the TSE during 2007–2014, revealed positive impact of ownership structure and negative impact of disclosure quality on information asymmetry. These results show that information asymmetry is less in firms that published more reliable and timely information, and is more in firms with more concentrated ownership structure, higher institutional ownership, and lower disclosure quality. In other words, reliability and timeliness of information have a positive role in stock price identification and close-up views of the buyer and seller in TSE. Findings of this article can assist accounting researchers and theoreticians in comparing real world facts with hypotheses developed with respect to ownership structure, disclosure quality, and information asymmetry. By increasing transparency in the capital markets, market participants, decision-makers, financial analysts, and potential investors are aided in their analysis of plans for investments in financial assets.
Introduction: Sleep disorders are a common problem in patients in the critical care unit. The objective of the present study was to determine the effect of white noise on the quality of sleep in patients admitted to the CCU. Methods: The present study was single-blind, quasi-experimental study. A total of 60 patients were selected using the purposive sampling method. Quality of sleep was measured with PSQI on the first day in admission, then after three nights of admission without any intervention for control group and for the experimental group quality of sleep measured by white noise with intensity of 50-60 dB then Quality of sleep was measured with PSQI. Data were analyzed by SPSS 13 software. Results: The average total sleep time in the control group before the study reached from 7.08 (0.8) to 4.75 (0.66) hours after three nights of hospitalization, while in the experimental group, no significant changes were seen in the average sleep hours (6.69 ± 0.84 vs. 6.92 ± 0.89, P = 0.15).The average minutes of sleep in the control group before the study reached from 12.66 (7.51) to 25.83 (11.75) minutes after a three- night stay, while in the experimental group, no significant changes were observed in the average sleep duration (12.16 ± 7.50 vs. 11 ±6. 07, P = 0.16). Conclusion: The use of white noise is recommended as a method for masking environmental noises, improving sleep, and maintaining sleep in the coronary care unit.
Background: Paradigm is the set of acceptability of agents in a field, which provide a framework in which context the scientists' research to solve scientific problems and regulate the series of studies in the field. Aim: The purpose of this paper is a review of the nursing paradigm. Method: This review was undertaken by library studies using databases such as CINHAL, MEDLINE, Web of Sciences by key words Paradigm, Mono paradigm, Multi Paradigm, Nursing, Nursing Sciences, separately and in combination in the title, abstract and keywords. Result: Nursing paradigm determines the goals and boundaries like a foundation of a building. Nursing as a moving profession from integrated and continual roles, and the integrated and holistic nursing is in circulation as a new paradigm. The nursing science has come to existence since only a few years ago, and we can say in certain that it is a young and new science but with a good progress. As it is a new science and because of dealing with human being, it has faced numerous scientific developments, and several paradigms are simultaneously created due to multidimensional nature of the human being. Conclusion: However, considering the work of theorists in recent years, the nursing is gradually leaving the multi-paradigmatic state and progressing to become a single paradigm.
Purpose – Financial distress is the most notable distress for companies. During the past four decades, predicting corporate bankruptcy and financial distress has become a significant concern for the various stakeholders in firms. This paper aims to predict financial distress of Iranian firms, with four techniques: support vector machines, artificial neural networks (ANN), k-nearest neighbor and na i ve bayesian classifier by using accounting information of the firms for two years prior to financial distress. Design/methodology/approach – The distressed companies in this study are chosen based on Article 141 of Iranian Commercial Codes, i.e. accumulated losses exceeds half of equity, based on which 117 companies qualified for the current study. The research population includes all the companies listed on Tehran Stock Exchange during the financial period from 2011-2012 to 2013-2014, that is, three consecutive periods. Findings – By making a comparison between performances of models, it is concluded that ANN outperforms other techniques. Originality/value – The current study is almost the first study in Iran which used such methods to analyzing the data. So, the results may be helpful in the Iranian condition as well for other developing nations.
Purpose In the process of reporting accounting information, the auditor’s objective is to detect possible misstatements and errors in accounting information. Audit evidence aids auditors in providing reasonable assurance about the quality of financial reporting. Studying the quality of family firms’ financial reporting is of higher importance relative to non-family firms due to lower risk of accounting manipulation. Therefore, the purpose of this paper is to examine the relationship between family ownership structure and financial reporting quality from an auditing perspective. Design/methodology/approach To analyze the research hypotheses, the authors use a sample data consisted of 221 companies listed on the Tehran Stock Exchange (including 52 family and 169 non-family firms) over a five-year span from 2011 to 2015. Findings Using multivariate regression analysis of panel data, our results indicate that audit risk in family firms is lower than their counterparts. Likewise, the findings are indicative of lower audit fees paid by family firms as compared to non-family ones. The authors also find that auditors put more effort in family firms and thus audit effort is more significant for these kinds of firms. Originality/value The study focuses on family ownership and financial reporting quality in a developing country like Iran and the results of the study may be beneficial to other developing nations, as Iran stock market possesses some unique features which are not normally prevailing in other equity markets, even in the Middle East.
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