Managers use earning management to show the profitability growing in a way that causes the output increase. one of the most important tools for this is discretionary accrual. Studies about earning management show that the managers use the opportunities to manage the exact earning. The aim of this research is to study the effect of market cycles on investor's reaction to discretionary accrual's changes. Related to the information of 1380-1383 three market cycles were identified: optimistic, neutral and pessimistic. Investor's reaction to the discretionary accrual changes in a sample of 66 firms is investigated. Results present that investors in our country don't pay attention to the information statements and earning management can't be an obstacle in investing way. And also market situation and existence of professional and amature investors won't affect it.
مرادی,مهدی , فلاحی,محمد علی و سلطانیان,سلطانیان . (1387). The Effect of Market Cycles on Investor's Reaction to Discretionary Accrual's Changes. (e24884). اقتصاد پولی مالی, 15(25), e24884 doi: 10.22067/pm.v15i25.1808
MLA
مرادی,مهدی , , فلاحی,محمد علی , و سلطانیان,سلطانیان . "The Effect of Market Cycles on Investor's Reaction to Discretionary Accrual's Changes" .e24884 , اقتصاد پولی مالی, 15, 25, 1387, e24884. doi: 10.22067/pm.v15i25.1808
HARVARD
مرادی مهدی, فلاحی محمد علی, سلطانیان سلطانیان. (1387). 'The Effect of Market Cycles on Investor's Reaction to Discretionary Accrual's Changes', اقتصاد پولی مالی, 15(25), e24884. doi: 10.22067/pm.v15i25.1808
CHICAGO
مهدی مرادی, محمد علی فلاحی و سلطانیان سلطانیان, "The Effect of Market Cycles on Investor's Reaction to Discretionary Accrual's Changes," اقتصاد پولی مالی, 15 25 (1387): e24884, doi: 10.22067/pm.v15i25.1808
VANCOUVER
مرادی مهدی, فلاحی محمد علی, سلطانیان سلطانیان. The Effect of Market Cycles on Investor's Reaction to Discretionary Accrual's Changes. mfe. 1387;15(25):e24884. doi: 10.22067/pm.v15i25.1808
