علی عشاق زاده

Regarding the contingency theory, the purpose of this research is to identify factors affecting the development of accounting and financial [management] procedures (AFP) for joint operating agreements in Iran’s oil and gas industry. To this end, at first, some partial factors were identified through a deep study of theoretical foundations. Subsequently, in order to identify environmental factors, a semi-structured interview was conducted with accounting and finance experts in oil and gas exploration and production companies whose competences were approved by the Ministry of Petroleum. Using the theoretical framework and the interview results, a questionnaire was set up and distributed in a wider range in order to add potentials and eliminate, modify, and finally rank the raised factors. The results showed that changes in laws and regulations, use of services in Iran’s oil and gas industry, changes in business practices, information technologies, the structure of the principal contract,  and conflicts among operational parties are the most important factors that should be taken into account in the formulation and development of AFP’s for these contracts in Iran’s oil and gas industry, and, in this regard, some suggestions are provided.  

This study postulates the relationships between earning quality and investment efficiency among Tehran Stock Exchange-listed companies with an emphasis on the moderating role of board characteristics including independence, the duality of executives and the financial expertise of members. The research is applied in terms of purpose and takes a correlative-descriptive approach. The statistical population is comprised of TSE listed companies from 2008 to 2018 and, the final sample consisting of 78 companies was selected using systematic (purposeful) elimination. To test the hypotheses, two regression models were estimated using Ordinary Least Squares method through Eviews software. The empirical results revealed a positive and significant relationship between the quality of earning and investment efficiency in TSE publicly-traded companies. As well as, the board members' independence and financial background can significantly exaggerate such a relationship. Based on our findings, capital market legislators, regulators, and policymakers may reinforce the governance role of the board of directors in monitoring the behavior of firms, and as a result, increase the efficiency of allocating capital among companies listed in TSE and also in macroeconomic levels. The findings can persuade corporate shareholders to pay more attention to the degree of independence and expertise of their board of directors to gain more return on their investment opportunities.