اثر مدیریت ریسک بر نوسان جریانات نقدی و سودخالص شرکت‌های عضو بورس اوراق بهادار تهران

نوع مقاله: مقاله پژوهشی

نویسندگان

1 دانشیار گروه حسابداری دانشگاه الزهراء(س)

2 کارشناس ارشد پژوهشکده پولی و بانکی و دانشجوی دکتری حسابداری دانشگاه الزهراء(س)

چکیده

چکیده رشد متنوع و پیچیده محیط تجاری موجب افزایش ریسک مالی شده است. زمانی که بنگاه‌ها با انواع مختلفی از ریسک مواجه هستند برای کنترل این ریسک از ابزارهای پوششی ریسک استفاده می‌کنند. ابزارهای پوششی ریسک موجب افزایش شفافیت و کنترل نوسانات جریانات نقدی و سود خالص در بنگاه‌ها می‌گردد. در این مقاله با انتخاب نمونه‌ای از 100 شرکت عضو بورس اوراق بهادار تهران برای دوره مالی 1386 تا 1391، اثر مدیریت ریسک بر کنترل نوسان سود خالص و خالص جریانات نقدی بررسی شده است. در بازار سرمایه ایران سرمایه‌گذاری با شرط مصون‌سازی و مدیریت ریسک با هدف کنترل نوسان جریان‌های نقدی و سود خالص اثری ندارد اما در پیش‌بینی نوسان جریانات نقدی و کنترل آن موثر است. همچنین سه متغیر قیمت سهام، فرصت‌های رشد سرمایه‌گذاری و نوسان سود خالص سال گذشته از متغیر‌های موثر در کنترل و پیش‌بینی نوسان سود خالص و جریانات نقدی بوده است که به اثر درک سهامداران از کنترل ریسک در بنگاه تاکید دارند.

کلیدواژه‌ها

موضوعات


عنوان مقاله [English]

Effect of Risk Management on Swing of Cash Flow and Net Income: Firms Listed in SEO

نویسندگان [English]

  • Ali Rahmani 1
  • Mandana Taheri 2
1 Associate Professor of Accounting at Alzahra University
2 Master of Science in Banking and Banking and Ph.D. Student of Accounting at Alzahra University (Q)
چکیده [English]

Diversified growth and complex business environment has increased the financial risk. When firms are faced with a variety of risk, they used to manage this risk by hedging instruments. Hedging instruments increase transparency and control swing of cash flow and net income in the firms. This paper investigates effect of risk management on swing of cash flow and net income with selected 100 firms for 1386 to 1391 with using of regression models in SPSS. Investment with requirement of hedging and risk management for controlling swing of cash flows and net income are no effect in Iran’s capital market but they are effective in future forecast of swing cash flows and controlling on it. Also three variables of stock price, opportunities for investment growth and net profit last year's swing are effective variables in controlling and forecast of net income and cash flow’s swing that emphasize on shareholders’ understanding effect from controlling of risk in firm

کلیدواژه‌ها [English]

  • Financial instruments
  • Risk management
  • Swing of cash flow
  • Swing of net income
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