Investment Efficiency and Audit Fee from the Perspective of the Role of Financial Distress

Amir Ghafourian Shagerdi, Ali Mahdavipour, Reza Jahanshiri Ariyan Tashakori Baghdar and Mohammad Sajjad Ghafourian Shagerdi

European Research Studies Journal, 2020, vol. XXIII, issue 1, 318-333

Abstract: Purpose: The aim of the article is to present the author’s methodological proposal in the field of management and development planning, taking the opinions of the commune inhabitants. Design/Methodology/Approach: The statistical population of the study has included all listed companies in Tehran Stock Exchange. After sampling 141 companies were studied using data from 2011 to 2018 using the multiple regression method. Findings: The results show that there was a significant relationship between investment efficiency and audit fee, and financial distress had a significant effect on the relationship between investment efficiency and audit fee. Practical Implications: The managers working in Iran have greater confidence than firms to use auditors who receives less audit fee and the companies in a climate of financial distress have overconfident managers. Originality/Value: Since no empirical research has been conducted to study the aforementioned variables in Iran, the present study is innovative in this respect. Also the results are also applicable to other underdeveloped countries in the Middle East.

Keywords: Investment efficiency; audit fee; financial distress; Tehran Stock Exchange. (search for similar items in EconPapers)
JEL-codes: M40 M41 (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:ers:journl:v:xxiii:y:2020:i:1:p:318-333

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