Accounting
Iman ِِDadashi; Hamid Reza Gholamnia Roshan; Amir Firooznia
Abstract
Due to the importance of technology and innovation in the oil industry, it is necessary to look more closely at the intellectual property of this industry. Intellectual capital is a concept that can classify and report the technology capabilities and knowledge spillover in a comparative format. The present ...
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Due to the importance of technology and innovation in the oil industry, it is necessary to look more closely at the intellectual property of this industry. Intellectual capital is a concept that can classify and report the technology capabilities and knowledge spillover in a comparative format. The present research is aimed at providing an appropriate framework for reporting intellectual capital in oil industry companies. For this research, semi-structured interviews have been done with 15 experts and people from petrochemical and petroleum companies with intellectual and experiential thinking space. After the interview, the relevant texts were analyzed by the thematic analysis method. Finally, the intellectual capital reporting framework was extracted as a qualitative research product. Then, a questionnaire was designed to assess the acceptance of the qualitative model, which was distributed among the statistical community consisting of professors and PhD students and experts of different universities and companies. The results of the distributed questionnaire showed that the components of the framework were approved by the respondents.
Accounting
Abbas Alimoradi; Najme Rajabdorry
Abstract
Though it is generally accepted that information asymmetry has an impact on capital structure policy, the nature of the information asymmetry is not well understood. Recent theoretical works and empirical evidences suggest that financing choice depends upon the information asymmetry about investment ...
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Though it is generally accepted that information asymmetry has an impact on capital structure policy, the nature of the information asymmetry is not well understood. Recent theoretical works and empirical evidences suggest that financing choice depends upon the information asymmetry about investment risk of the particular use of funds (Halov & Heider, 2012) (Rao, Mohanty, & Baxamusa, 2015). Consistent with this view, we analyzed the data gathered among 199 companies listed in Tehran Stock Exchange during 2009-2016 by The Multiple Linear Regressions in order to test research’s hypotheses have been applied. We also examined the influence of Petrochemical industry on that relationship. The findings show that equity is used to fund projects with greater information asymmetry about their risk such as intangible assets and capital expenditure, while debt is used to fund investments with lower information asymmetry about their risk such as liquidity enhancement. We also found that the membership in petrochemical industry has no effect on the intangible assets and cash holding’s financing method, but concerning with capital expenditure and working capital the impact is significantly negative.
