Manager Optimism Based on Environmental Uncertainty and Accounting Conservatism

Document Type : Research Paper


Assistant Professor in accounting, Faculty of Economics and Administrative Sciences, Lorestan University, Iran


It is expected that more accounting conservation (environmental uncertainty) reduces manager optimism. Prior research, however, has struggled to establish this relation empirically. Moreover, some evidence points to the possibility that the manager optimism is lower for firms with more accounting conservation. In this paper, the author examine the link between accounting conservation, environmental uncertainty, and manager optimism, as well as the link between accounting conservation, manager optimism, and the cost of capital. First, it is established that more accounting conservation could lead to a decrease in manager optimism. Second, I tried to show that manager optimism changes the cost of capital in the accounting conservation quintile. Consistent with a negative relationship between accounting conservation and manager optimism, and with the dominating effect of managers' optimism , the article documented a positive association between managers' optimism and the cost of capital for firms whose shares trade in low accounting conservation.


Main Subjects

Article Title [فارسی]

بررسی خوش‌بینی مدیران برمبنای عدم اطمینان محیطی و محافظه‌کاری حسابداری

Author [فارسی]

  • محسن رشیدی
استادیار ، حسابداری، دانشکده علوم اقتصادی و اداری دانشگاه لرستان، خرم آباد، ایران
Abstract [فارسی]

انتظار بر این است که افزایش محافظه­کاری حسابداری (عدم اطمینان محیطی)، باعث کاهش خوش بینی مدیر شود. تحقیقات پیشین تلاش­هایی در جهت ایجاد این رابطه از نظر تجربی داشته­اند، با این حال، برخی شواهد اشاره به محدود بودن خوش­بینی مدیر در شرکت­هایی با محافظه­کاری حسابداری بالا دارد. در این پژوهش، رابطه بین محافظه کاری حسابداری، عدم اطمینان محیطی و خوش بینی مدیر و ارتباط بین محافظه­کاری حسابداری ، خوش­بینی مدیر و هزینه سرمایه را بررسی می­کنیم. اول، مشخص شد که محافظه­کاری بیشتر حسابداری می­تواند منجر به کاهش خوش­بینی مدیر شود. دوم، تلاش شد که نشان دهیم خوش­بینی مدیر با توجه به کوانتیل های ارایه شده، منجر به تغییر هزینه سرمایه می­شود. مطابق با ارتباط منفی بین محافظه­کاری حسابداری و خوش­بینی مدیر و با توجه به اثر غالب خوش بینی مدیر، ارتباط مثبت بین خوش بینی مدیران و هزینه سرمایه برای شرکت­هایی که سهام آنها در محیط­های با محافظه­کاری حسابداری محدود معامله می کند، اثبات شده است.

Keywords [فارسی]

  • عدم اطمینان محیطی
  • محافظه‌کاری حسابداری
  • خوش بینی مدیر
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