Purpose The main purpose of this study is to investigate the effect of investor sentiment on accounting conservatism in listed companies in the Tehran Stock Exchange (TSE). Design/methodology/approach In this paper, two models of Ball and Shivakumar (2006) and Basu (1997) have been used for measuring conditional conservatism in accounting. To measure investor sentiment, the author uses the Baker and Wurgler (2006, 2007) index. The research sample consists of 1,820 observations and 182 firms listed on TSE over a ten-year period between 2011 and 2020. This study uses panel data and multivariate regression analysis to test it hypotheses. Findings Consistent with this hypothesis that accounting conservatism will increase with investor sentiment, the results showed that Iranian firms recognize economic losses and bad news in a more timely manner during high sentiment periods than during low sentiment periods. This implies that Iranian managers recognize economic losses and bad news in earnings in a more timely manner during periods of high investor sentiment. Practical implications This finding provides significant evidence for investors and financial reporting standard-setters in Iran because by removing accounting conservatism from the conceptual framework, managers are not able to present conservative financial reports, and this can intensify the negative impact of investors sentiment in the Iranian capital market. Managers of Iranian companies can reduce information asymmetry and increase capital market efficiency by accelerating the disclosure of bad news. Thus, managers can strategically recognize losses and prevent investors from making emotional decisions that reduce their wealth. Originality/value To the best of the authors’ knowledge, this is the first study to empirically examine the impact of investor sentiment on accounting conservatism in a developing market called Iran. This study contributes to the corporate disclosure literature. Also, the result of this study contributes to standard-setters of accounting standards to improve the mandatory disclosure literature on more conservative accounting earnings.

The present study aimed to determine the relationship between EQ (mostly known by its quotient (EQ)) and decision-making styles of stock exchange market investors. The present study is a descriptive survey. Statistical population of the research included all investors in Esfahan stock exchange market using Cochrane formula of unknown population, the sample size is determined to be 96 individuals. In this study, EQ questionnaire of Henry Wezinger (1998) and the questionnaire of Scott and Bruce (1995) were applied to assess the investors' EQ and decision-making style, respectively. Data analysis in two levels of descriptive and inferential statistics using univariate t-test and variance analysis (ANOVA) is conducted by applying spss software. The results show that from the perspective of investors, there is a relationship between rational and intuitive decisionmaking style and emotional intelligence. The results of the research indicated that there is a positive significant relationship between EQ and rational and intuitive decision making. No significant relationship was found between EQ and dependent, impulsive and avoidant decision making. While among the five decision-making styles, rational decision-making style the highest rank and spontaneous decision-making style the lowest rank have had among the styles.

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Purpose The main purpose of this study is to analyze the impact of monetary policies on Islamic mutual fund flows in the Islamic Republic of Iran. Design/methodology/approach In this study, a panel regression model was used to test the research hypotheses. The sample consists of 4,760 seasonality data and 119 Islamic mutual funds over ten-year period between 2011 and 2020. The dependent variable of the study is the cash flow of Islamic mutual funds and the independent variable of monetary policies includes the money growth rate, the liquidity growth rate, interest rate and inflation rate. Findings Based on the results of the hypothesis test, all research variables including money growth rate, liquidity growth rate, interest rate and inflation rate have a negative and significant impact on Islamic mutual fund flows. These findings are consistent with the efficient market hypothesis and signaling theory. Research limitations/implications This study has implication for policymakers, regulators and fund managers. The results show that the negative impact of monetary policies on Islamic mutual fund flows has a direct effect on the allocation decisions and investment strategies of Islamic mutual fund investors and managers. Also, the results of the research can reduce policymakers’ concerns about monetary policies and provide them forward-looking guidance policy. Originality/value To the best of the authors’ knowledge, this is the first study to empirically examine the impact of monetary policies on Islamic mutual fund flows in an emerging economy and provides a significant contribution to the literature of mutual funds.