AL-Qadisiyah Journal For Administrative and Economic sciences

The main objective of the present study is to evaluate the effect of accounting conservatism on long-term stock returnafter initial offeringintheTehran Stock Exchange. The present study is Analytical study in terms ofthetype of study. The statistical population includes the listed companies on Tehran Stock Exchange during 2003-2013 and a total number of 69 companieswith initial public offeringwas assessed for this purpose. For the purpose of this study, four hypotheses were formulated using the ordinary least squares regression method and were analyzed using SPSS and Eviews statistical software. The results of the study indicate a positive relationship between conservatism in the year before public offering and A long-term stock return after initial public offering. However, the results show that there is no significant relationship between conservatism in the year of initial public offering and The long-term return of stock after initial public offering. Other results also suggest that intheinformation asymmetry setting there is a positive relationship between conservatism in the year before initial public offering and long-term return of stock after the initial public offering. In addition, in the information setting there is also a positive relationship between conservatism in the year of initial public offering and long-term stock return after the initial publicoffering. This study is one of the few that have examined the effect of accounting conservatism on long-term stock return after initial offering. The findings lend credence to the belief that the more the conservatism, the higher is the long-tern stock return, so we expect these findings can contribute to the efficiency of the capital market.

Our study aims to analysis the effect of system recovery on customer patronage and word-of -mouth communications. Data collected from 348 customers of tourism companies, and then it was using factor analysis. The empirical results demonstrated that customer who perceived justice of dealing with service failure may achieve post-recovery satisfaction, which may affect customers' attitude towards the company and increase the spread of word-of-mouth and patronage. In addition, patronage raises the company's customers to spread the word of mouth.