Purpose

This study mainly aims to explore the impact of management practices and managerial behavioral attributes on credit rating quality in Tehran Stock Exchange.

Design/methodology/approach

In this study, 214 firms were assessed from 2014 to 2020. The credit rating quality was measured through Technique for Order of Preference by Similarity to Ideal Solution and the entropy weighting method. In accordance with the theoretical literature, managerial entrenchment, managerial myopia, managerial overconfidence and managerial narcissism were considered as the managerial attributes. Furthermore, to examine management practices, cash flow management and accrual management were explored.

Findings

The results of this study showed that the cash flow from operations management and the accrual management has a significant positive effect on the credit rating quality. The managerial entrenchment, managerial narcissism and managerial myopia have significant negative effects on credit rating quality, while the effect of managerial overconfidence on credit rating quality is not significant.

Originality/value

Understanding the factors that affect the credit rating quality is of a great importance. Considering the significance of cash management in the present era and the impact of managerial psychological and behavioral characteristics in the development of the organization, empirical results of this study can help investors, capital market regulators and other stakeholders to strengthen the firm and better decisions.

中文翻译：

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管理实践和管理行为属性对信用评级质量的影响

目的

本研究主要旨在探讨德黑兰证券交易所管理实践和管理行为属性对信用评级质量的影响。

设计/方法论/途径

本研究对 2014 年至 2020 年的 214 家公司进行了评估。信用评级质量通过与理想解相似的偏好顺序技术和熵权法来衡量。根据理论文献，管理属性包括管理壁垒、管理近视、管理过度自信和管理自恋。此外，为了检查管理实践，还探讨了现金流量管理和权责发生制管理。

发现

研究结果表明，经营管理现金流量和权责发生制管理对信用评级质量具有显着的正向影响。管理层固守、管理层自恋和管理层短视对信用评级质量具有显着的负向影响，而管理层过度自信对信用评级质量的影响并不显着。

原创性/价值

了解影响信用评级质量的因素非常重要。考虑到现金管理在当今时代的意义以及管理者心理和行为特征对组织发展的影响，本研究的实证结果可以帮助投资者、资本市场监管者和其他利益相关者加强坚定和更好的决策。