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Article
Publication date: 25 January 2019

Mehdi Salehi and Mansour Azami

The purpose of this paper is to develop a new structural damage detection technique based on multi-channel empirical mode decomposition (MEMD) of vibrational response data.

112

Abstract

Purpose

The purpose of this paper is to develop a new structural damage detection technique based on multi-channel empirical mode decomposition (MEMD) of vibrational response data.

Design/methodology/approach

Empirical mode decomposition (EMD) is an empirical data-based signal decomposition method which has been applied in many engineering problems. Utilizing classical EMD to reveal the damage-indicating features of structural vibration response encounters some difficulties due to the inconsistency of modes obtained from different data channels. To overcome this problem, MEMD has been employed. To this end, MEMD algorithm has been adopted to impulse response vector of measured DOFs. The proposed method has been carried out concerning both numerical and experimental beam models. Damage has been modeled by reducing the flexural rigidity in some predefined beam sections. The effects of various factors such as measurement grid density, damage severity and damage position are investigated.

Findings

The results of both numerical and experimental case studies have been promising. The method could determine the damage location in all cases. The efficiency of method gets better when damage is located far from inflation points of the corresponding mode. In such cases, utilizing higher modes can make up the efficiency.

Research limitations/implications

Since the present research is the first investigation of MEMD in damage localization, just one-dimensional structures have been studied. Extending the method to more complicated geometries needs further attempt.

Originality/value

Although a number of relevant studies have been carried out based on EMD, up to the author’s best knowledge, this is the first attempt to structural damage localization using MEMD.

Details

International Journal of Structural Integrity, vol. 10 no. 1
Type: Research Article
ISSN: 1757-9864

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Article
Publication date: 15 October 2021

Maryam Seifzadeh, Mahdi Salehi, Mohammadhamed Khanmohammadi and Bizhan Abedini

This study aims to concern about the relationship between management managerial attributes (management entrenchment, narcissism and overconfidence of the chief executive officer…

676

Abstract

Purpose

This study aims to concern about the relationship between management managerial attributes (management entrenchment, narcissism and overconfidence of the chief executive officer, board effort and real and accrual earnings management) and comparability of financial statements listed firms on the Tehran Stock Exchange. In other words, this paper aims to answer the question that “whether managerial attributes contribute significantly to the comparability of financial statements or not”.

Design/methodology/approach

The multivariate regression model is used for hypothesis testing. The hypotheses were examined using a sample of 768 listed observations on the Tehran Stock Exchange during 2012–2017 and by using from the multivariate regression pattern based on panel data techniques and the random-effects model.

Findings

The obtained results show a significant and negative relationship between management entrenchment, real and accrual earnings management, comparability and the relationship between management narcissism, overconfidence and board effort and comparability of financial statements is positive and significant.

Originality/value

As the present study is the pioneer study on such topics in the emerging markets, it provides valuable information concerning the intrinsic and acquired features of the management for users, analysts and legal institutions with a considerable impact on the comparability of financial statements. Moreover, this study’s results contribute significantly to the development of science and knowledge in this field and fill the gap in the literature.

Details

Journal of Facilities Management , vol. 20 no. 1
Type: Research Article
ISSN: 1472-5967

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Article
Publication date: 7 April 2021

Mahdi Salehi, Mehdi Behname and Mohammad Sadegh Adibian

This paper aims to examine the interrelationships of monetary policy's structural shocks, the real exchange rate and stock prices.

599

Abstract

Purpose

This paper aims to examine the interrelationships of monetary policy's structural shocks, the real exchange rate and stock prices.

Design/methodology/approach

According to quarterly data, variables such as gross domestic product, consumer price index, the real exchange rate, stock price and monetary policy indices in the structural vector autoregressions model are estimated. These variables' volatility is attributed to other variables’ structural shocks separately, and analysis of variance tables for all variables is presented.

Findings

The results show that structural shock on the exchange rate does not affect the stock price, but the monetary policy's structural shock positively impacts the real exchange rate. Moreover, the real exchange rate and monetary policy's structural shocks have a negative impact on the stock price index. However, no significant effect is found pertain to the real exchange rate structural shock, statistically.

Originality/value

To the best of the authors’ knowledge, the current study model is relatively novel in developing countries, and the study sought strength to develop knowledge on the subject of the study.

Details

International Journal of Islamic and Middle Eastern Finance and Management, vol. 14 no. 5
Type: Research Article
ISSN: 1753-8394

Keywords

Available. Open Access. Open Access
Article
Publication date: 5 December 2018

Mahdi Salehi, Hossein Tarighi and Malihe Rezanezhad

The purpose of this paper is twofold: first, to investigate the relationship between some characteristics of corporations including firm size, financial leverage, profitability…

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Abstract

Purpose

The purpose of this paper is twofold: first, to investigate the relationship between some characteristics of corporations including firm size, financial leverage, profitability, firm age and the type of industry with social responsibility disclosure of firms listed on Tehran Stock Exchange (TSE); and second, to study the association between the level of corporate social responsibility disclosure (CSRD) and some of the audit variables such as audit fees, audit tenure and audit firm’ size.

Design/methodology/approach

The study population consists of 125 firms listed on the TSE during the years 2010–2015. Following Salehi et al. (2017), content analysis is used to measure the level of social responsibility disclosure, and hypotheses are performed using multiple regression analysis and R software.

Findings

The results represented that there is a positive significant relationship between a firm size and a firm age with the level of CSRD. However, there is a negative significant association between financial leverage and profitability with the level of CSRD. Given that CSRD is different among various industries and the type of industry can be an influential factor in CSRD, an industry type’ variable in the fourth hypothesis is of a type of index variable and has eight levels, of which the first level is ranked as the base level. Our findings showed that the level of CSRD at industries of machinery and appliances, production of metal products, food and beverage products, and textiles is lower than the baseline level (pharmacy). Nevertheless, companies in the fifth industry (mineral products) have a higher level of CSRD in comparison with the pharmacy industry. Moreover, the authors find that there is a significant positive connection between audit fees and CSRD. This implies that Iranian managers in an inflationary economy probably manage earnings when they provide more CSRDs, which leads to increase in the audit risk and audit fees.

Practical implications

Needless to say, the findings of this paper will have practical implications for investors, auditors and other users of financial statements. First of all, this study will aware them of the fact that when a country faces economic sanctions and most of its companies are in financial strain investors should not consider the firms engaging in corporate social responsibility activities to behave morally and provide transparent financial reports. Second, the results will convince auditors to be conservative toward the firms that are financially distressed, for audit risk of them will be high. Thus, policymakers should be cautious concerning directors’ opportunistic actions and increase monitoring to enforce social obedience.

Originality/value

The turning point of this research is related to the time period of research related to firms that have faced severe financial problems due to economic sanctions. In fact, the study revealed another aspect of CSRD that could have negative consequences when managers are in financial strain and take opportunistic actions.

Details

Journal of Asian Business and Economic Studies, vol. 26 no. 1
Type: Research Article
ISSN: 2515-964X

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Article
Publication date: 25 September 2024

Mahdi Moradi, Mahdi Salehi and Salah Faleeh Mahdi Balah

This study aims to investigate the factors affecting the professional judgment of auditors in Iraq (personality type, audit firm size and age).

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Abstract

Purpose

This study aims to investigate the factors affecting the professional judgment of auditors in Iraq (personality type, audit firm size and age).

Design/methodology/approach

The statistical population includes 1,750 participants, and the sample size was determined to be 309 participants using Cochran’s sampling formula. The required data has been collected through a questionnaire. Regression factor analysis, Kolmogorov–Smirnov, t and Friedman(f) tests were used to analyze the variables and examine their relationships.

Findings

The results show a significant relationship between neuroticism, extroversion, flexibility, agreeableness and conscientiousness and auditors’ professional judgment. No relationship was observed between the size of the auditing firm and professional judgment. The results also showed a significant relationship between seniority and auditors’ professional judgment.

Originality/value

This study will help increase the knowledge of investors and regulators, providing information to researchers and those interested in auditors’ professional judgment. It can also be a starting point for research in this field. This research investigates the auditor characteristics, including personality traits of auditors, audit firms’ size and age and their impact on auditors’ professional judgment.

Details

Journal of Islamic Accounting and Business Research, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1759-0817

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Article
Publication date: 11 April 2023

Arash Arianpoor, Mahdi Salehi and Fereshteh Daroudi

The purpose of this study is to assess the impact of nonfinancial sustainability reporting (NFSR) on enterprise value moderated by the management legitimate authority (MLA) for…

432

Abstract

Purpose

The purpose of this study is to assess the impact of nonfinancial sustainability reporting (NFSR) on enterprise value moderated by the management legitimate authority (MLA) for companies listed on the Tehran Stock Exchange.

Design/methodology/approach

To this aim, 190 firms were assessed during 2014–2019. This study used Arianpoor and Salehi’s indicators. The scoring method for NFSR, environmental sustainability reporting (ESR), social sustainability reporting (SSR) and governance sustainability reporting (GSR) was based on Zimon et al. Also, the CEO pay slice index was used to calculate the management’s legitimate authority. Tobin’s Q was used as a standard measure for the firm value, providing a suitable means of comparison.

Findings

The results revealed that NFSR affects enterprise value positively. In addition, ESR and SSR positively affect the enterprise value. However, GSR did not affect the enterprise value. MLA affects the relationship between NFSR/ESR/SSR/GSR and enterprise value, resulting from the effect of MLA on firm-related information quality and transparency.

Practical implications

Linking NFSR and management’s legitimate authority to firm value will enable managers to lead in helping firms enhance transparency and disclosure, improving their reporting standards and increasing the enterprise value. This, in turn, will ultimately result in better sustainability and governance practices.

Social implications

The results can help understand that analysts and investors somehow consider discussions related to the NFSR in decisions related to the company’s value, and positive market reactions to these practices’ disclosures can motivate firms to improve value and performance.

Originality/value

The majority of prior research in this field has focused on developing countries. An international perspective is critical, and this study helps draw a more contextualized picture of sustainability than before. In addition, the present research explored the management’s legitimate authority role, which is considered an innovative aspect.

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Article
Publication date: 29 April 2021

Mahdi Salehi, Arash Arianpoor and Nader Naghshbandi

The main objective of the paper is to examine the relationship between managerial attributes (e.g. managerial entrenchment, managerial myopia and managerial overconfidence) and…

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Abstract

Purpose

The main objective of the paper is to examine the relationship between managerial attributes (e.g. managerial entrenchment, managerial myopia and managerial overconfidence) and firm risk-taking on the Tehran Stock Exchange (TSE).

Design/methodology/approach

The study’s sample comprises 150 companies listed on the TSE from 2011 to 2017. Risk-taking is calculated as the standard deviation (SD) of stock return. Explanatory factor analysis was performed to calculate the weight of each of the five variables managerial ownership, board independence, chief executive officer (CEO) tenure, board compensation and CEO duality as a proxy for managerial entrenchment. The study by Anderson and Hsiao (1982) was also used to calculate managerial myopia, and the study by Schrand and Zechman (2012) was used to calculate managerial overconfidence.

Findings

The results indicate that the effect of managerial entrenchment and managerial myopia on risk-taking of listed firms on the TSE is positive and significant, implying that an increase in CEO entrenchment is likely to give rise to risk-taking. The authors conjecture that this finding could be due to the investment projects impairing the firm performance in the long run. Furthermore, the effect of managerial overconfidence on listed firms' risk-taking on the TSE is significantly negative. Since overconfidence is one of the traits of narcissism and corporate managers tend to be encouraged and admired, it is implied that they tend to make efficient and low-risk investments that ultimately reduce the firm risk-taking.

Originality/value

Several theoretical studies show that managerial behavior is a determining factor in the economy. One of the reasons which justify the originality of this study is the context and institutional environment. Undoubtedly, managerial behavior (e.g. managerial entrenchment, managerial myopia and managerial overconfidence) is expected to have some significant variations in developing countries compared to prevailing in developed countries, particularly in the Iranian stock market the economic sanctions. Furthermore, due to the direct impact of individuals' psychological and behavioral characteristics on their decisions and the effect of companies' risk-taking on increasing and decreasing shareholders and companies' wealth, this research is essential. Given the function of designed behavioral criteria for assessing risk-taking behaviors, the relationship between managerial attributes and firms' risk-taking is still unclear and investigated in this study.

Details

The TQM Journal, vol. 34 no. 4
Type: Research Article
ISSN: 1754-2731

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Article
Publication date: 30 May 2023

Mahdi Salehi, Raha Rajaeei, Ehsan Khansalar and Samane Edalati Shakib

This paper aims to determine whether there is a relationship between intellectual capital and social capital and internal control weaknesses and assess the relationship between…

501

Abstract

Purpose

This paper aims to determine whether there is a relationship between intellectual capital and social capital and internal control weaknesses and assess the relationship between the variables of intellectual capital and social capital and internal control weaknesses.

Design/methodology/approach

The statistical population consists of 1,309 firm-year observations from 2014 to 2020. The research hypothesis is tested using statistical methods, including multivariate, least-squares and fixed-effects regression.

Findings

The results demonstrate a negative and significant relationship between intellectual capital, social capital and internal control weaknesses. The study also finds that increased intellectual and social capital quality improves human resource utilization, control mechanism, creativity and firm performance. The results also show that intellectual capital and social capital enhancement will reduce internal control weaknesses in the upcoming years.

Originality/value

This paper is the pioneer study on the relationship between intellectual capital and social capital and internal control weaknesses in Iran, carried out separately and in exploratory factor analysis. This paper considers intellectual capital components for theoretical factor analysis, including human capital, structural capital and customer capital. Internal control weakness is assessed based on financial, non-financial and information technology (IT) weaknesses.

Details

Journal of Islamic Accounting and Business Research, vol. 15 no. 5
Type: Research Article
ISSN: 1759-0817

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Article
Publication date: 20 November 2023

Fatemeh Saeedi, Mahdi Salehi and Nour Mahmoud Yaghoubi

Financial reports are the basis of economic decisions that affect organizational interests and shareholders. However, there is a severe research gap concerning the factors…

211

Abstract

Purpose

Financial reports are the basis of economic decisions that affect organizational interests and shareholders. However, there is a severe research gap concerning the factors affecting the quality of financial information (such as audit report readability and tone). Therefore, considering the importance of presenting high-quality financial information, this study aims to investigate the impact of intellectual capital (IC) and its components on the audit report's readability and tone.

Design/methodology/approach

The multivariate regression model tests research hypotheses. Then, hypotheses are tested via a sample of 824 observations of the listed companies on the Tehran Stock Exchange (103 companies) from 2014 to 2021, using the multivariate regression model based on pooled data and fixed effects.

Findings

Results determine that customer capital (CC) and structural capital (SC) are likely to influence the audit report tone positively. In general, the IC and human capital (HC) negatively impact auditors' tone. More analyses also document that IC and its CC, HC and SC components positively and significantly affect audit report readability based on two readability indices, including FOG and text length. Finally, findings pertaining to the third readability index (Flesch index) reveal that only HC and SC are robust based on this measurement, whereas the IC and CC have a negative and significant impact on the readability of auditors’ reports.

Originality/value

To the best of the authors’ knowledge, this study is the first to address this issue in emerging markets, and it provides helpful insights for users, analysts and legal institutions regarding IC, which significantly affects audit report readability and tone.

Details

Journal of Economic and Administrative Sciences, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2054-6238

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Article
Publication date: 19 November 2018

Mahdi Salehi, Mahbubeh Mahmoudabadi and Mohammad Sadegh Adibian

The purpose of this paper is to evaluate the qualitative effect of corporate governance components, in the form of managerial entrenchment index, on earnings management and…

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Abstract

Purpose

The purpose of this paper is to evaluate the qualitative effect of corporate governance components, in the form of managerial entrenchment index, on earnings management and innovation.

Design/methodology/approach

In this study, the variable of managerial entrenchment, which includes the variables of management independence, dual role of management, management tenure, the board compensation and the board ownership percentage, was initially estimated through the exploratory factor analysis and its effect was evaluated on the dependent variables of the study using the test of multivariable regressions. Hence, a total of 103 listed companies on the Tehran Stock Exchange were selected and analyzed during 2011–2016. In this paper, the Jones model is used as the variable of accrued earnings management and for calculating the real earnings management, the models of abnormal operational cash flows, abnormal production costs and abnormal optional costs are employed. Moreover, the research and development cost to total costs ratio is used for calculating the innovation.

Findings

The results indicate a negative and significant relationship between managerial entrenchment and accrual-based earnings management; moreover, the entrenched managers are less likely to engage in manipulating the real activities accruals in Iran context. Furthermore, the findings show that there is a positive and significant relationship between managerial entrenchment and firm innovation.

Originality/value

What really sets this paper apart from other studies is that this research will make aware investors and stakeholders of this fact that managerial entrenchment will be a good way to diminish the manipulation of financial reporting and improve the corporate situation in emerging markets, particularly those bazaars facing with economic sanctions such as Iran. Undeniably, the study results will complete the knowledge gap between the developed economies and the emerging markets.

Details

International Journal of Productivity and Performance Management, vol. 67 no. 9
Type: Research Article
ISSN: 1741-0401

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