Investment-Cash Flow Sensitivity: A Study of Iranian Listed Companies

Salehi Mahdi (), Mohammadi Ali and Taherzadeh Esfahani Parisa
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Salehi Mahdi: Ferdowsi University of Mashhad, Faculty of Economics and Business Administration, Azadi Square, Vakilabad Bolvard, Mashhad City, Khorasan Razavi Province, Iran
Mohammadi Ali: Department of Accounting, Zanjan Branch, Islamic Azad University, Zanjan, Iran
Taherzadeh Esfahani Parisa: Department of Accounting, Islamic Azad University, Zanjan Sciences & Research Branch, Iran

Organizacija, 2013, vol. 46, issue 3, 87-97

Abstract: The main objective of the current study is to examine the effect of audit report on cash-flow investment sensitivity of 123 listed companies in Tehran Stock Exchange (TSE) during 2006-2010. Regression analysis and synthetic data were used for data analysis. The results showed that receiving modified report has a significant negative effect on cash flow-investment sensitivity. The findings also suggest the significant effect of receiving qualified report and unqualified report with explanatory paragraphs on cash flow-investment sensitivity.

Keywords: Auditing; auditor report; cash flow-investment sensitivity; Iran (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:vrs:organi:v:46:y:2013:i:3:p:87-97:n:1002

DOI: 10.2478/orga-2013-0009

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