Journal of Accounting and Management Vision

Journal of Accounting and Management Vision

The effect of manager short-sightedness on operating cash flows and stock returns in listed companies in Tehran Stock Exchange

Document Type : Original Article

Authors
Hadi khani farang 1
mohammad hasanzadeh 2
mina sheikhi garjan 3
1 novin
2 mohaghegh
3 sama ardebil
Abstract
One of the major barriers to long-term investment and short-term investment preference is manager short-sightedness. The main purpose of this research is to investigate the effect of short-sightedness on managerial cash flow and stock returns on Tehran Stock Exchange. The method of this study is descriptive-analytic and in terms of method, it is a descriptive-analytic one. The statistical population consisted of all listed companies present in Tehran Stock Exchange. In this study, we investigated the research hypotheses by using normality, mana, variance and F Limer and Hassman tests in Ivyz software from 2011 to 2011. To test questions and hypotheses, a sample of 146 companies was studied over the years. 1390 to 1396 used. The results showed that manager's short-sightedness had a significant negative effect on stock returns and operating cash flow of the company. In order to reduce short-term investments and long-term investment preference by investors, the short-sightedness of managers should be significantly reduced.
Keywords
Stock Returns
Tehran Stock Exchange
Operating Cash Flows
Manager Short-sightedness