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The description of “blockchain banking”, the determination of “the sub-processes” of “blockchain banking” as a “business process”, and the assessment of “maturity level” in Parsian Bank.

Theoretical sources on “blockchain banking” were initially investigated. Then the “sub-processes” of “blockchain banking” as a “business process” were extracted by Parsian Bank's experts through the “Delphi method”. Next, the “sequence” of the “sub-processes” was determined by means of the “AHP”. Eventually, Parsian Bank's maturity levels for all the sub-processes as well as the overall maturity level were specified on the basis of the “CMMI” V1.3 in order for Business Process Management (BPM).

Blockchain banking’ combines traditional banking with cryptocurrencies, which can be provided by merging “hybrid e-wallet” with “bank account” and “bank card” – all together as “crypto bank account”. Plus, “hybrid e-wallet” is a form of mobile e-wallet on blockchain that supports both cryptocurrencies and traditional currencies in the same platform by which the purchase and sale of cryptocurrencies are possible. Besides, “Blockchain banking service” can also be offered within the framework of “open banking” aligned with “open innovation” through a FinTech (or a beta bank) in collaboration with a licensed bank via “open API”, which is called “blockchain banking based on FinTech”. At last, the eight sub-processes of “blockchain banking” were determined and Parsian Bank's “maturity level” was specified.

This is the very first practical guide to “blockchain banking service”.

The purpose of this study is to examine the impact of financial statement comparability as a qualitative feature of financial reporting on cash holdings and the mediating role of disclosure quality and financing constraints in firms listed on the Tehran Stock Exchange (TSE).

Using panel data from 110 TSE-listed firms from 2011 to 2017 in Iran, this study uses the regression analysis to examine the research hypotheses. The first hypothesis examines the relationship between financial statements comparability and cash holdings and two other hypotheses examine the mediating role of financing constraints and disclosure quality in this relationship.

Based on pecking-order theory and institutional context of Iranian firms, the results show that financial reporting comparability has a significant negative impact on corporate cash holdings. The results also show that disclosure quality and financing constraints have no mediating role in the relationship between accounting comparability and cash holdings. The robustness tests with alternative measures of accounting comparability and cash holdings support the findings of this study.

The limitations of this study are as follows: limited number of TSE companies that have necessary data to conduct research; and using the disclosure quality scores provided by TSE organization.

The findings suggest that creditors should consider the financial status and also the quality of financial reporting of companies, before granting credit to them. It is also recommended that regulators in the capital market publish the ratings of companies in terms of financial statement comparability alongside the disclosure ratings and a continuous regulatory oversight on companies.

To the best of the authors’ knowledge, this is the first empirical research on the effect of accounting comparability on the level of cash holdings that examines the mediating role of financing constraints in the context of Iran market as an emerging economy. Moreover, this is the first empirical research that studies the effect of disclosure quality on this relationship.

The characteristic of managers’ personality is a key factor in their decision-making. One of the most important personality characteristic of managers is overconfidence. Overconfident managers have false trust about their abilities and have a positive view of the firm’s future performance. Thus, the purpose of this study is to investigate the association between managerial overconfidence and internal control weaknesses (ICW) of the firms listed on the Tehran Stock Exchange (TSE).

Sample includes the 480 firm-year observations from companies listed on the TSE during the years 2013–2017, and the hypothesis is tested using multivariate regression model based on panel data analysis.

The authors found that managerial overconfidence increases the firms’ ICW. The findings are robust to alternative measure of managerial overconfidence, individual analysis of the research hypothesis for each year and endogeneity concern. Moreover, additional analysis reveals that the positive relationship between managerial overconfidence and ICW is less pronounced in larger firms.

To the best of the authors’ knowledge, this is the first study to analyze the association between managerial overconfidence and ICW in emerging capital markets and, therefore, can contribute to extend the current literature on managerial overconfidence and ICW in developing countries, especially Iran’s emerging capital market.