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:: year 14, Issue 55 (2023) ::
fa 2023, 14(55): 61-77 Back to browse issues page
Investigation the Effect of Managers' Overconfidence on the Relationship between Advertising Expenditures and the Risk of Bankruptcy
Seyed Ali Vaez *1 , Babak Abedi Sadaghiani1 , Seyed Aziz Arman2 , Majid Gorgizadeh1
1- Department of Accounting, Shahid Chamran university of Ahvaz, Ahvaz, Iran.
2- Department of Economics, Shahid Chamran university of Ahvaz, Ahvaz, Iran.
Abstract:   (8150 Views)
The problem of non-going concern and failure of companies, followed by bankruptcy as an unfavorable financial issue, has always been a problem worthy of consideration. The number of companies that have gone bankrupt in different countries is not small. This issue has attracted the attention of many researchers and activists in the field of the capital market participants to discuss it and find ways to deal with such a situation. The main purpose of this research is to investigate the relationship between advertising expenditures and the risk of bankruptcy with the moderator variable of managers' overconfidence during the years 2012-2021. Accordingly, using Eviews software and panel data method, the data from 930 firm-years related to companies listed in Tehran Stock Exchange have been analyzed based on research models The results of the research hypotheses test indicate that all four hypotheses in the research were confirmed. In other words, the advertising expenditures, which is measured by the two variables of advertising expenditures rate and advertising expenditures intensity, significantly reduces the probability of bankruptcy, and the factor of managers’ overconfidence moderates this relationship.
Article number: 4
Keywords: Advertising Expenditures, Bankruptcy, Managers' Overconfidence
Full-Text [PDF 674 kb]   (165 Downloads)    
Type of Study: Research | Subject: Special
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Vaez S A, Abedi Sadaghiani B, Arman S A, Gorgizadeh M. Investigation the Effect of Managers' Overconfidence on the Relationship between Advertising Expenditures and the Risk of Bankruptcy. fa 2023; 14 (55) : 4
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year 14, Issue 55 (2023) Back to browse issues page
فصلنامه حسابداری مالی Quarterly Financial Accounting
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