This paper studies the capital structure dynamics of central and eastern European firms to better understand the quantitative and qualitative development of financial systems in this region. The dynamic model used endogenises the target leverage as well as the adjustment speed towards these targets. It is applied to microeconomic data for 10 countries. We find that during the transition process...

One of the main instruments of accountability in economic activities is auditing. But despite the extent of audit work, determining the fees for this service in our country is not based on a scientific model and reasonably we cannot claim, according to firm's characteristic and with what cost, the work would be done. In this regard, we have tested the impact of transparency of accounting inform...

The theoretical literature suggests a positive relation between financial leverage and asset returns, but the empirical evidence on this effect is mixed. We examine leverage effects in public real estate markets across eight countries with active public real estate markets. Cross-country public real estate markets provide an interesting testing ground given the significant use of leverage in re...

Taxonomy(general), the practice and science of classification of things or concepts, including the principles that underlie such classification. Economic taxonomy, a system of classification for economic activity. The main objective of the study was to find whether financial ratios affect the performance of the Agricultural Machinery companies in Iran. A firm performance evaluation and its comp...

The present study is intended to examine the effect of accounting conservatism on firms’ non-profitability in Tehran Stock Exchange in 48 unprofitable firms and 57 profitable firms over a period of seven years from 2001 to 2007. This study was conducted according to Givoly and Hayn model to measure accounting conservatism index in non-profitable and profitable) firms. Data analysis performed wi...