The purpose of this study is to investigate the effects of human resources current expenses, as a large and persistent component of earning, on the prediction of firm future performance. So, based on existing literature, the employee model and earning model have introduced and two dependent variables, earning predictability and value relevance, have entered into these models. In this study, 125 listed companies on TSE over a period of 7 years, between 2006 and 2013 selected as sample. Firstly, in this research by using mean comparison test (t-test), the two models have been compared and the results show that employee model, due the consideration of employee expenses (in addition to the earnings), has a better explanation of company's future performance. Then by using multiple regression and ordinary least squares method, three properties of human resource current expenses; named average salary per employee, employee expenses intensity, employee expenses persistence; and the difference in earning predictability and value relevance of two models have been investigated. This study is the first to investigate the effects of human Resource's current expenses on earnings predictability and value relevance of Iranian firms. Also, the provided empirical evidence in this paper further enhances the role of an employee by developing employee model. Results show that there is a significant relationship between the persistence of human resource current expenses and earning predictability and value relevance. The two other properties have a significant relationship with earning predictability but do not have a significant relationship with value relevance.

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Article History JEL Classification G10, M41. In this study, the relationship between discretionary accruals and stock returns has been investigated by considering the growth variable in companies listed in Tehran Stock Exchanges. The study has been done using the data from 112 companies during 2010-2015 using systematic elimination sampling. For this purpose, three theories have been developed and three types of tests F, t and multivariate regression analysis were used to examine the hypothesis. The results of hypotheses indicate no significant relationship between discretionary accruals and stock returns, but with the addition of firm's growth, the use of discretionary accruals and positive discretionary accruals is more in firms with high growth than firms with low growth. Contribution/ Originality:This study is one of very few studies which have investigated relationship between pricing of discretionary accruals and stock in the case of Iran.