بررسي ارتباط بين هموارسازي سود و درماندگي مالي شركتها در بورس اوراق بهادار تهران

The Investigation of the Relationship between Profit Smoothing and Corporate Collapse in Tehran Stock Exchange

In this study, the relationship between the three levels of profit smoothing: gross profit, operating profit and net profit and corporate collapse has been studied in three stages: 1. Latency, 2. Cash deficit and commercial and financial insolvency and insolvency (complete collapse). In other words, this research focuses on the issue that managers, when placed in collapse status, to show better financial situation and performance to maintain its capital markets, attempted to manipulate profits. A sample including 81 companies subjected to Article 141 of the Trade & Commercial Law listed in Tehran Stock Exchange during the 10-year period between the years 1376 to 1385 was selected and through the collapse probability model, predicted collapse probability by Altman model. Then, companies engaged in profit smoothing were recognized through annual changes absolute mean model, and to test research hypotheses that determined the relationship between collapse and corporate profit smoothing, logit model was used. Finally, research findings indicated that managers of business units, for better showing of financial position and their company performance to maintain its capital market, in various stages of collapse, perform actions through available tools that lead to profit smoothing.