The Relationship between CEO Overconfidence and Restated Financial Statements of Listed Companies in Tehran Stock Exchange

Document Type : Original Article

Authors

1 Emeritus Professor of Accounting, Shahid Chamran University of Ahvaz, and Member of Eight Behesht Higher Education Institute, Isfahan

2 M.A. Student of Accounting, Eight Behesht Higher Education Institute,Isfahan

Abstract

The aim of this study was to investigate the relationship between CEO Overconfidence and the restated financial statements. In this study, using systematic removal, 104 companies from companies listed on the stock exchange during the years 1392 to 1383 were studied. To analyze the data, a statistical analysis of multiple regression (logit model) was used. The results show that the number of days to change the restated financial statements is not associated with the stock price, but indicates a significant negative relationship with the percentage of increase or decrease in the stock price of the restated financial statements. Thus, the results indicate a negative and significant relationship between levels of overconfidence and restated financial statements

Keywords

Journal of Iranian Accounting Review
Volume 2, Issue 7 - Serial Number 7
September 2015
Pages 47-66

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