پایداری مالی شرکت و گزارشگری مالی متقلبانه: نقش کیفیت ساز و کارهای راهبری شرکتی

هدف: در مواردی که شرایط مالی شرکت ناپایدار و رشدی کمتر از میانگین صنعت تجربه می‌کند، مدیریت ممکن است برای ارائه تصویری پایدار از سلامت مالی شرکت به گزارشگری متقلبانه متوسل شود. از طرفی هرچه کیفیت راهبری شرکتی بالاتر باشد، تمایل به گزارشگری مالی متقلبانه کاهش می‌یابد. هدف این پژوهش، آزمون رابطه پایداری مالی با گزارشگری مالی متقلبانه و بررسی نقش تعدیل‌کنندگی کیفیت سازوکارهای راهبری شرکتی بر این رابطه است. روش: چهار فرضیه پژوهش با استفاده از نمونه‌ای متشکل از 102 شرکت پذیرفته شده در بورس تهران طی دوره 1394 الی 1398 و بکارگیری رگرسیون لجستیک آزمون شدند. یافته‌ها: نتایج نشان داد که پایداری مالی (برحسب رشد دارایی‌ها) رابطه مثبت و معناداری با گزارشگری مالی متقلبانه دارد، ولی رابطه معناداری بین پایداری مالی(بر حسب zscore) و گزارشگری مالی متقلبانه مستند نشد. علاوه بر این، کیفیت سازوکارهای راهبری شرکتی بر رابطه بین رشد دارایی‌ها وگزارشگری مالی متقلبانه نقش تعدیل‌کنندگی ندارد، در حالی که رابطه بین zscore و گزارشگری مالی متقلبانه را تضعیف می‌کند. نتیجه‌گیری: در شرایط پایداری مالی ضعیف، انگیزه گزارشگری مالی متقلبانه افزایش می‌یابد. این انگیزه در محیطی با کنترل‌های نامناسب مضاعف می‌شود. در ناپایداری مالی ارتقای کیفیت سازوکارهای راهبری شرکتی می‌تواند احتمال گزارشگری مالی متقلبانه را کاهش دهد.

corporate financial stability and fraudulent financial reporting: the role of quality of corporate governance mechanisms

objective: recent corporate scandals, global financial crises, and global environmental issues have led to a growing demand from diverse stakeholders for transparency and regular disclosure of information. the financial statements provide all the financial information related to the financial condition, financial performance and cash flows of the company that is beneficial to all stakeholders. accordingly, these statements are not merely a set of numbers, but a means of making economic decisions for multiple stakeholders. the importance of the content of financial statement information motivates management to improve its performance to ensure the existence and survival of the company. but sometimes the company can not perform well, so the information in the financial statements will not be satisfactory. this is why management tends to commit fraud, so it manipulates financial statement information to make it look good. for many years, fraudulent reporting has become an important topic that has attracted the attention of many researchers to investigate its determinants. the history of many cases of corporate fraud has shown that management fraud has the most serious and most threatening effects. organizational management fraud reflects a failure in the corporate governance structure, because the mechanisms that limit the extravagance of senior managers are essentially embedded in corporate governance.a company’s financial sustainability is defined in terms of its ability to facilitate and enhance economic resources, manage risks, and resolve shocks. in cases where the financial condition of the firm is unstable and growth is below industry average, management may be inclined to fraudulent financial reporting to present a picture of stable and robust financial health of the company. fraudulent reporting is considered as a failure in its corporate governance structure. so, it is argued that the higher the quality of corporate governance, the lower the propensity for fraudulent reporting. assets are a reflection of the wealth of a company that can be used as a benchmark by investors. in many studies, asset growth has been introduced as a measure of financial stability, in addition, zscore has been used as a measure of financial stability which assesses the distance from insolvency and the likelihood of bankruptcy. the higher the zscore, the lower the risk of bankruptcy and financial distress of company, and therefore the greater the financial stability. in general, companies with good financial stability tend to avoid from the pressure so that they control themselves not to commit fraudulent practices, while the companies with financial distress tend to have a greater pressure to commit fraudulent practices. therefore, they will have more motivation to commit fraud. accordingly, the purpose of this study is to empirical test the association between financial stability and fraudulent financial reporting and to examine the moderating role of quality of corporate governance mechanisms on this relationship. method: the research is applied in terms of purpose, crosssectional in terms of execution time and descriptivecorrelation in terms of the nature of execution. in order to empirical test the association between financial stability and fraudulent financial reporting and to examine the moderating role of quality of corporate governance mechanisms on this relationship, four research hypotheses were presented as follows:hypothesis 1: there is a significant relationship between the growth of company assets (financial stability) and the likelihood of fraudulent financial reporting.hypothesis 2: the lower the zscore (financial stability), the greater the likelihood of fraudulent financial reporting.hypothesis 3: the quality of corporate governance mechanisms moderates the relationship between asset growth (financial stability) and fraudulent reporting.hypothesis 4: