ابزارهای حسابداری مدیریت حلقه‌ی مفقوده خلق ارزش؛ آزمون تجربی تئوری اقتضایی

همزمانی بازدۀ سهام حوزه نسبتاً جدیدی در پژوهش های مالی و اقتصادی است که رابطه نزدیکی با توسعه اقتصادی، ثبات بازارهای مالی و کارایی بازار دارد. همچنین کاربردهایی در اندازه گیری آگاهی دهندگی قیمت، قیمت گذاری دارایی ها، پیش بینی ریزش قیمت سهام، و ... دارد. همچنین همزمانی می تواند به منظور اندازه گیری کارایی بازار استفاده شودو عوامل زیادی بر همزمانی بازده سهام تاثیر گذار می باشد که هدف پژوهش حاضر بررسی عوامل موثر بر همزمانی بازده سهام است. در راستای دستیابی به این هدف برای آزمون فرضیه‌ها از داده‌های 155 شرکت از شرکت‌های پذیرفته شده در بورس اوراق بهادار تهران در طی سال‌های 1385 تا 1396 استفاده شده است. یافته که نتایج پژوهش نشان داد که بازده سالانه سهام و گردش معاملات و اندازه شرکت و نقدشوندگی سهام بر همگام سازی بازده سهام تاثیر معنی‌داری و مثبت دارد. سهامداران نهادی بر همگام‌سازی بازده سهام تاثیر معنی‌داری و منفی دارد. عمر شرکت و تمرکز مالکیت و فرصت رشد بر همگام‌سازی بازده سهام تاثیر معنی‌داری ندارد.

Management Accounting Tools rings missing value creation; empirical testing contingency theory

Journal of Accounting Advances, (2020) 12(1): 213237 DOI: 10.22099/JAA.2020.34368.1899   Journal of Accounting Advances (JAA) Journal homepage: www.jaa.shirazu.ac.ir/?lang=en   The Management Accounting Tools of Rings Missing Value Creation; Empirical Testing Contingency Theory ABSTRACT Received: 2019920 Accepted: 2020828   The increasing costs of production and resource constraints have caused changes in the context and composition of costs. So, companies are not willing to impose costs for activities that are not worthwhile and they seek to remove them and create activities that are valuable. The use of modern cost management tools can provide value creation, provided that they are faced with environmental contingency factors inside and outside the company. So the purpose of this research, is to test the contingency model of influencing factors on the philosophy of value creation and the effective use of corporate resources. Research results are based on the data of 117 companies accepted in Tehran Stock Exchange for a specific time period of ten years (20092018), by using the structural equation modeling approach. Implying the effect, 8 contingency factors of human resources, economic environment, external environment, organizational strategy, technology, competitive environment, financial resources and senior management support are significant in using the information of management accountants for value creation and effective use of corporate resources, while  4 contingency factors do nothave a significant effect on the use of management accounting reports. Also, the conclusion Matrix ImportancePerformance shows that attention to contingency factors competition power, new technologies, economic environment, ratio of R&D expenditures, the degree of compliance with environmental uncertainty, performance of human capital index and structures corporate governance is the key to creating double value in activities and effectiveness in resource utilization companies. Also, among the possible factors, technology and human resources have the most impact.  1introduction       The increasing costs of production and resource constraints have caused changes in the context and composition of costs. So, companies are not willing to impose costs for activities that are not worthwhile and seek to remove them and create activities that are valuable. The use of modern cost management tools can provide value creation, provided that they are faced with environmental contingency factors inside and outside the company.This indicates the impact of the environment on the effectiveness of management accounting information which evokes the basic concept of contingency theory. Contingency theory, raises the concept of proportionality between enterprise features and environmental factors.  2 Hypotheses        Considering the theoretical foundations research and the literature of research,12 contingency factors have been identified. So, the aims this research are, to test the contingency model of influencing factors on the philosophy of value creation and the effective use of corporate resources in listed companies of Tehran Stock Exchange (TSE).  Thus, the research hypotheses are discussed as follows: H: Contingency factors affect the uses of the fourth stage tools of management accounting evolution. H1: External environment factor affects the uses of the fourth stage tools of management accounting evolution. H2: Economic environment factor affects the uses of the fourth stage tools of management accounting evolution. H3: Competitive environment factor affects the uses of the fourth stage tools of management accounting evolution. H4: Cultural factor affects the uses of the fourth stage tools of management accounting evolution. H5: Professional section factor affects the uses of the fourth stage tools of management accounting evolution. H6: Organizational structure factor affects the uses of the fourth stage tools of management accounting evolution. H7: Technology factor affects the uses of the fourth stage tools of management accounting evolution. H8: Organization strategy factor affects the uses of the fourth stage tools of management accounting evolution. H9: Size organization factor affects the uses of the fourth stage tools of management accounting evolution. H10: Supporting senior executives factor affects the uses of the fourth stage tools of management accounting evolution. H11:Financial resources factor affects the uses of the fourth stage tools of management accounting evolution. H12: Human resources factor affects the uses of the fourth stage tools of management accounting evolution.   3 Methods        The method of research is correlation and causal. In order to investigate the issue, based on the structural equation model, the data of 117 companies that were accepted in TSE for a specific time period of ten years (20092018), were collected from the Rahavard Novin software, the Tehran Stock Exchange website, the Central Bank website and a standard questionnaire.  The collected data was calculated using the Excel software and was analyzed by SmartPLS3. In order to analyze the hypothesis, importanceperformance matrix and ttest have been used.   4 Results        The results of the research show that the 8 contingency factors of human resources, economic environment, external environment, organizational strategy, technology, competitive environment, financial resources and senior management support are effective in using the informatin of management accountants for value creation.  Effective use of corporate resources and 4 contingency factors of organizational structure, company size, cultural factors and professional sector do not have a significant effect on the use of management accounting reports. Also, the results of Matrix ImportancePerformance show that attention to contingency factors’ competition power, new technologies, economic environment, ratio of R&D expenditures, the degree of compliance with environmental uncertainty, performance of human capital index and structures corporate governance in the first quarter of the matrix (region continued effort) have taken place and they are highly important in the effectiveness of resource use and value creation.   5 Discussion and Conclusion        The conclusion shows that attention to factors such as competition power in the market, use of new technologies, transformation of economic threats into opportunity, allocation of funds for research and development purposes, adaptation to existing environmental uncertainty, the use of professional people and formation of structures strong corporate governance are the key to creating a double value in activities and effectiveness in resource utilization. Therefore, it is suggested to managers of companies to consider the strategies presented in the reports of management accountants in the turbulent environment of the country for planning, decision making and control of operations. Also, among the possible factors, technology and human resources have the most impact.   Keywords:Management Accountants, Philosophy of Value Creation, Factors Contingency Theory, Structural Equation Modeling.