نوع مقاله : پژوهشی

نویسندگان

1 دانشگاه فردوسی مشهد

2 موسسه آموزش عالی غیر انتفاعی غیر دولتی حکیمان بجنورد

3 دیوان محاسبات

چکیده

معاملات با اشخاص وابسته در رسوایی‌های مالی بازار بورس به‌عنوان یکی از کانون‌های نگرانی است؛ به‌گونه‌ای که استفاده هدفمند از این معاملات و عدم افشا یا کافی نبودن افشای آن‌ها از عوامل سقوط شرکت‌ها بوده است. هدف این پژوهش بررسی تأثیر معاملات با اشخاص وابسته بر مربوط بودن سود در تعیین ارزش بازار سهام شرکت‌های پذیرفته‌شده در بورس اوراق بهادار تهران است. در این پژوهش بر دو نوع معامله با اشخاص وابسته تمرکز شده است: فروش مواد و کالا و فروش دارایی‌های ثابت به اشخاص وابسته. بدین منظور 164 شرکت پذیرفته‌شده در بورس اوراق بهادار تهران طی سال‌های 1388 تا 1393 مورد تجزیه‌وتحلیل قرار گرفته‌اند. فرضیه‌های تحقیق با استفاده از رگرسیون چندگانه آزمون شده‌اند و روش تخمینی برای تجزیه‌وتحلیل داده‌های تحقیق در رگرسیون چندگانه، روش داده‌های تابلویی با اثرات ثابت است. نتایج پژوهش نشان می دهد مربوط بودن سود در تعیین ارزش بازار سهام در شرکت‌هایی که دارای معاملات با اشخاص وابسته از نوع فروش موجودی مواد و کالا هستند، کاهش یافته است. همچنین معاملات با اشخاص وابسته از نوع فروش دارایی ثابت تأثیر مشخصی بر مربوط بودن سود در تعیین ارزش بازار سهام شرکت‌ها ندارد.

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