Investigation the relationship between Accounting Conservatism and Managerial Caution in Investment Process

چکیده مقاله

This research discussed the relationship between accounting conservatism and managerial caution in investment process. Accounting conservatism is measured using the model proposed by Basu (1997) and managerial caution is measured using the pattern proposed by Hsihe et al (2012). The research sample includes 221 firms listed in Tehran Stock Exchange over the period 2011 - 2015. As a whole, the evidences showed that accounting conservatism exist in listed firms. The results indicated that relationship between accounting conservatism and managerial caution is meaningful and negative. In fact, managerial caution and accounting conservatism are substitute solutions; so managers can use one of them in facing to uncertainty. Other evidences showed that size, market to book value ratio, dividend payout and age have negative effect on accounting conservatism significantly; while leverage and return on assets have meaningful positive effect on accounting conservatism. But, institutional ownership has no effect significantly.

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