Abstract
This paper investigates the impact of public-listing age on the future operating performance of Iranian firms making initial public offerings (IPOs) during the period 2003 to 2014, and examines whether accounting accruals and earning management contribute to this impact. In addition, return on net operating assets (RNOA), operational accruals (TAC) and the earnings management (EM) of 81 initial public offerings have been calculated, with the aim of helping capital market participants, policy makers, financial analysts and potential investors thorough the findings of this study, in the stock exchange of financial assets and security investment projects. Multivariate linear regression was used in analysing data. We found that, on average, public-listing age and accounting accruals have a direct effect on future operating performance in Iran, and that earning management does play an indirect role on performance.
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