The aim of this study is The Moderating Effect of future expectations and changes to past sales on the cost of behavioral asymmetry in firms listed in the Tehran Stock Exchange. For this purpose six hypotheses are developed and data on the 105 companies in Tehran Stock Exchange for the period between the years 2008 to 2015 were analyzed. This regression model using panel data with fixed effects approach, reviews and tests. The results showed that in the event of an increase in sales in the previous period, the average costs in the current period are sticky. On the other hand, results in a decrease in sales in the previous period, the average costs in the current period are anti-sticky. Also, the results show that for a certain amount increased sales in the current period, The average costs following an increase in sales to a greater extent than in the period before a sales decline in the previous period, increased. In addition, the results showed that the more optimistic expectations are signals that indicate the degree of stickiness If there is an increase in sales expenses in the current period in the prior period, increases. And finally the results indicate that the signal that indicates expectations are more optimistic, the amount of reaction increases Cost to increase sales in the current period.
Nickar, J., & Jalili, A. (2016). The Moderating Effect of Future Expectations and Changes to Past Sales on Cost of Behavioral Asymmetry. Applied Research in Financial Reporting, 4(2), 99-124.
MLA
Javad Nickar; Akram Jalili. "The Moderating Effect of Future Expectations and Changes to Past Sales on Cost of Behavioral Asymmetry". Applied Research in Financial Reporting, 4, 2, 2016, 99-124.
HARVARD
Nickar, J., Jalili, A. (2016). 'The Moderating Effect of Future Expectations and Changes to Past Sales on Cost of Behavioral Asymmetry', Applied Research in Financial Reporting, 4(2), pp. 99-124.
VANCOUVER
Nickar, J., Jalili, A. The Moderating Effect of Future Expectations and Changes to Past Sales on Cost of Behavioral Asymmetry. Applied Research in Financial Reporting, 2016; 4(2): 99-124.
