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The purpose of this study is to investigate the effect of product market competition and corporate governance on firm’s management performance in the Tehran Stock Exchange market. According to the research literature, the governance mechanisms used in this study consist of ownership structure, structure of the board of directors and capital structure. In addition, Herfindahl–Hirschman Index and market size were used to measure the product market competition.

This study used one selected sample among the firms in the capital market of Iran from 2004 to 2012.

The results of this study indicated that there is a significant relation among the major governance mechanisms (including ownership concentration, independence of the board of directors and debt ratio) and product market competition and management performance. The findings of this study also showed that product market competition is effective on the relation between corporate governance and the performance, and this is what has been ignored in most of the conducted studies.

In general, the results of this study supported the idea that product market competition is effective on implementation and efficiency of governance mechanisms.

The cost of equity (COE) and corporate governance structure are the most critical factors affecting competition among publicly held companies. Accordingly, the present paper aims to examine the relationship between corporate governance and the COE in the wake of the Islamic State of Iraq and Syria (ISIS) in Iraq.

Our statistical sample includes 34 companies listed on the Iraq Stock Exchange from 2012 to 2017. Board structure (i.e. board size, board independence, CEO tenure, board meetings frequency and CEO duality) and ownership structure (managerial ownership, institutional ownership and state ownership) are considered proxies for corporate governance structure. Besides, the authors employ the Capital Asset Pricing Model to measure the COE as our dependent variable. Multiple regression analysis and Exploratory Factor Analysis are also used to estimate the research models.

Our results suggest that corporate governance structure plays a significant role in reducing COE during the ISIS era. Furthermore, the authors find that corporate governance can be an alternative to COE reduction in Iraq’s absence of national security. Our findings also indicate that board size, board meeting frequency, managerial ownership and institutional ownership are negatively associated with COE.

Although this study has been thoroughly considered and cautiously planned, the specific period chosen to conduct the research (i.e. the ISIS era) could be a significant limitation since financial disclosure of listed companies may have been of lower quality during this period. However, to relatively alleviate this limitation and maintain the authenticity of the findings, the authors exclude low-quality financial statements, particularly non-audited financial reports, from the statistical sample. Furthermore, practitioners of emerging markets that are suffering from a weak external corporate governance combination can use the findings of this paper as a guideline to compensate the existing market deficiencies by improving internal corporate governance for observing further cash sources with lower cost. The findings also propose to international agencies that the business environment in Iraq is heavily affected by the ISIS phenomenon and needs financial aid to recover from its side effects. Furthermore, macroeconomists may use this paper to make more decisive macroeconomic indicators predictions.

This paper is among the pioneer investigations and elaborates on how the agency conflict is resolved effectively. The board and managerial characteristics and different forms of ownership might be applicable to provide cheaper funds for companies listed in emerging markets suffering from weak external corporate governance combinations.

The present study aims to assess different intelligence types' effect on the auditor's organizational performance (OP) with the mediatory role of social capital (SC) in Iraq.

The study's statistical population includes 201 auditors in Iraq's audit firms, among whom 198 auditors are selected as the sample using the Cochran sampling method. Partial least squares (PLS) is used to assess the effect of independent variables on the dependent variable.

The results show a positive and significant association between different types of intelligence, including spiritual intelligence (SI), emotional intelligence (EI) and organizational intelligence (OI) and audit firms' OP. The enhancement of the desired organization can accelerate the organization's talent and capacity to reach its goals. Moreover, SC does not mediate the relationship between spiritual, emotional and organizational intelligence and OP.

Since no study has carried out so far on the effect of the different types of auditors' intelligence on Iraqi audit firms' performance, the study results can provide useful information and contribute to the development of knowledge in this field.

This paper aims to identify, classify and rank the contributing factors to financial resilience.

The present study is of a mixed-method and significant contributing factors have been identified after analyzing and reviewing the literature on resilience and financial resilience. These factors were classified and ranked using the analytic hierarchy process method. This paper operationalizes the concept of financial resilience.

The study results show that consistency in production and sales, access to a reliable supply chain, management ability to environmental adaptability, regional dimension and social support from the government’s side are among the determining factors in financial resilience at the market level. Some elements such as flexibility, risk identification, income, foreign exchange benefits, innovation in presenting goods and services, firm size and responsiveness of partners and beneficiaries inside and outside the organization are among the leading contributing factors at the organization level and management manner. Finally, the staff’s efficiency in using organization resources, shareholder staff and learning culture in the organization are among the main contributing factors to financial resilience under the staff’s influence.

The study results may give managers direction to evaluate companies’ resilience, especially in the emerging economy; besides, it improves the literature on the topic.

This study aims to investigate the impact of managerial narcissism and overconfidence on financial statements’ comparability. In other words, this paper seeks to answer the question of whether the personality characteristics of managers may affect the level of financial statements’ quality of commercial entities or not.

The research hypotheses are tested using a sample of 896 observations taken from the Tehran Stock Exchange and 245 observations from the Iraqi Stock Exchange during 2012 and 2018 using the multiple regression model based on the combined data technique.

The findings show that managerial narcissism is positively and significantly associated with Iran’s financial statement comparability. In contrast, Iraqi data articulate a negative association between these two variables. This paper finds that Chief Executive Officer overconfidence and financial statements’ comparability are negatively related in both countries. Following the market variation, the different findings suggest that institutional settings such as the general managerial style, adopting international accounting standards (now IFRS) leading to the extent of auditing market globally in Iraq and suffering from international sanctions in Iran, the governing business environment may play an allocative role in preparing financial statements.

The present research is the first research conducted in two emerging markets (Iran and Iraq) examining the relationship between managers’ narcissism and overconfidence and financial statements’ comparability. Therefore, the present research in this area can significantly contribute to the development of science and knowledge.

The current study aims to identify and classify the financial resilience measurement indices using the intuitive fuzzy approach.

The present study aims to identify and classify firms' indices of financial resilience measurement using the Fuzzy–Delphi combined method and the intuitive fuzzy DEMATEL technique with interval values. For the study and the literature review, 29 financial resilience indices were identified, and 12 were finalised after screening and localisation. Next, the selected indices were classified into two groups of influencing and being influenced, and the significant range of each one was determined. Finally, the executive and research suggestions were presented based on the obtained results.

The study results indicate a higher significance level of redundancy and visibility in financial resilience.

The present study is the pioneer study to assess, identify and classify the contributing indices to financial resilience.

Ethical concerns in the field of trade and business and research efforts in the area of management and implementation of ethical standards in the organizational chain in the current situation, mainly due to the impact on the performance and procedures of organizations, and, finally, the effect on the views and attitudes of stakeholders and users of corporate information have become critical. Therefore, this study aims to investigate the impact of business ethics on stress, anxiety and depression and the success of auditors in Iran and Iraq.

The study’s statistical population includes all partners, managers and auditors working in auditing firms. Three hundred sixty-five questionnaires were completed by Iranian respondents and 250 questionnaires by Iraqi respondents in 2021. Also, the analysis of variance and regression of ordinary least squares have been used for data analysis and testing of hypotheses.

The research results show a negative and significant relationship between the results of business ethics and stress, anxiety and depression of auditors in Iran and Iraq and a positive relationship between business ethics and auditors’ success in Iran and Iraq.

As the current research was conducted in emerging financial markets such as Iran and Iraq, which are highly competitive, along with special economic conditions, and as the occupation of the ISIS terrorist group, the civil wars in Iraq, the world’s severe economic sanctions against Iran and following the global crisis of COVID-19, both countries have had special conditions. Therefore, the current research can bring helpful information to the readers and help everyone develop science and knowledge in this field.

This study aims to compare judicial and auditor expectations of audit in the detection and reporting of money laundering in Iran. It also aims to assess the implications of expectations gap for the reliability of data provided to the Financial Action Task Force (FATF) in its blacklisting policy.

Questionnaires were administered to auditors to determine perceptions of their anti-money laundering (AML) reporting obligations. These were also completed by Iranian judges who hear money laundering prosecutions and who agreed to participate in the research. The group was created through the “snowballing” technique.

There is significant divergence between judges and auditors regarding the latter’s AML reporting obligations. Self-perception among auditors regarding investigative duties is insufficiently aligned with expectations of the FATF, particularly where there is use of corporate structures, charities and trusts in which identity of true owners, of payers and payees of funds cannot be accurately verified. This gap presents a significant terrorist financing risk.

The expectations gap makes training in forensic accounting, as well as compliance with international reporting expectations, a matter of urgency for the Iranian auditing profession. The judiciary needs to be more aware of international expectations.

Data regarding judicial expectations of auditors’ AML reporting obligations is difficult to obtain and of a highly sensitive nature. This research has obtained such data which has relevance to the FATF blacklisting policy, and to international organisations tasked with disrupting terrorist financing networks.

This study aims to identify the sources of laundered money in Iran and the destinations to which it is transferred, independently verified by auditors. Based on such data, the study aims to develop a simple model of endogenous and exogenous factors facilitating money laundering in developing countries, which can inform domestic and international legislative and regulatory responses.

Questionnaires were sent to Iranian certified public accountants who worked for auditing firms in 2019 and who have encountered suspected money laundering during their work with clients.

The government and public officials are the primary sources of money laundering activity in Iran. The main destinations of laundered funds are investments abroad, gold, foreign currencies, real estate and purchases of luxury goods. Domestic legislation, while bearing similarities with that found in other jurisdictions such as the UK and the USA, is flawed in several ways, including an inability to determine beneficial ownership of funds and weak enforcement.

Because of international sanctions and the prevailing political situation, it is difficult to obtain data for money laundering and other financial crimes in Iran. The data obtained is of importance to international bodies in understanding the nature of money laundering in Iran, and how to negotiate in the future to address mutual concerns. Given the country’s perceived high association with money laundering, the data obtained is of value in identifying the specific characteristics of the problem.

The purpose of this study is to cover the ownership structure as (institutional ownership and managerial ownership) influencing the cost of equity in emerging markets.

The authors applied the regression model with the fixed-effect model in the data. Data collected from listed companies in the Iraq-Iran Stock Exchange during 2012-2017.

The authors found a significant positive associated between institutional ownership and the cost of equity in the Iranian and Iraqi contexts. The results also reveal a significant negative associated between managerial ownership with the cost of equity in the Iranian and Iraqi contexts. This means that when managerial ownership is increased, the cost of equity will be reduced. These results support the role of inside ownership to enhance fixed performance by reducing the cost of equity. So, managerial ownership can be a substitute for all shareholders. Moreover, the results indicate a similarity in the impact of the ownership structure on the cost of equity in the Iraqi and Iranian context, this means the similar elements among west Asian countries.

Financial companies such as banks and investment companies were not listed due to the difference in the nature of their work with the other sectors in the Iranian and Iraqi stock exchanges. Moreover, the authors are heavily constrained as listed companies must continue during the study period to calculate the cost of equity. Therefore, the results are difficult to generalize widely.

This international study will enable investors in, as well as local and international investors to take the appropriate investment decision-making in the capital markets in these countries (Iraq and Iran). Moreover, it contributes significantly to helping corporate governance bloggers in Iraq and Iran understand the role of the ownership structure in corporate governance.

This is the first study of the interaction between institutional ownership, managerial ownership with the cost of equity in Iraq, the study will help complete the knowledge gap with developed markets. The results are important in future research because the authors believe that it is very important for the future to look at better for percentage levels of institutional and managerial ownership in the company ownership. Although the contribution is limited, it will provide a useful guide for more papers in other west Asian countries.