مشخصات پژوهش

This study examines the moderating effect of auditor industry specialization on the relationships of financial statement comparability and accounting policy consistency with stock returns among companies listed on the Tehran Stock Exchange. The study is applied in purpose and adopts an ex post facto causalcorrelational design based on archival financial data. The statistical population consists of all companies listed on the Tehran Stock Exchange during the 2017– 2024 period. After applying the specified screening criteria, 85 firms were selected, yielding 680 firm-year observations. Panel-data regression models with firm fixed effects were used to test the hypotheses. The findings indicate that financial statement comparability and accounting policy consistency are positively and significantly associated with stock returns. The results also show that auditor industry specialization strengthens both relationships by enhancing the credibility and usefulness of comparable and consistent financial information. These findings contribute to the accounting and auditing literature by demonstrating that industry-specific audit expertise can reinforce the capitalmarket consequences of financial reporting quality. The results further suggest that firms may benefit from engaging industry-specialist auditors because their knowledge of industry-specific risks, transactions, and reporting practices can improve audit quality, reduce information asymmetry, and increase investors and creditors’ confidence in investment and lending decisions.