Creative accounting is a method of accounting that uses accounting discretion without violating policies; Accounting rules and standards affect the disclosure of information and cause distortion of the information provided by managers. The purpose of this study is to investigate the effect of creative accounting on the heterogeneous perception of investors in the capital market. Grounded theory was used to determine the measurement components of creative accounting, and then the data of this variable was collected through a researcher-made questionnaire. Also, a standard questionnaire was used to measure the heterogeneous perception of investors. In this research, partial least squares analysis was used to test the research hypothesis. The results of the research showed that creative accounting has a positive and significant effect on the heterogeneous perception of investors. In fact, the obtained result is an indication of the fact that creative accounting, which is considered a part of an opportunistic process that results in the heterogeneity of investors' perception under individual, structural and extra-structural motives.
This study is considered one of the first researches that has been done to design a creative accounting model and examine the effect of its dimensions on the heterogeneity of investors' perception. The results of this study, while helping to strengthen the literature on this issue, at the same time help the policy makers and the compilers of accounting standards to change or amend the laws to fill the gaps in the opportunistic manipulation of profit.