Identifying Factors Affecting Financial Managers' Fees: grounded theory approach

A management fee is a cost that is considered by the investment manager to manage the investment fund. Management fees are considered to compensate the time and expertise of the manager in stock selection and stock portfolio management. Despite the scope of accounting work, determining the fees for this service in our country is not based on a scientific model and cannot be based on a logical and defensible basis and we don’t know "what is the reason for the differences in the payments of the financial managers"? The aim of this study was to identify the factors affecting the remuneration of financial managers, for which the data method of the foundation has been used. For this purpose, in-depth semi-structured interviews were conducted with 18 financial managers of listed companies. The textual data were analyzed after configuration using three consecutive stages of open, central and selective coding, and finally the paradigmatic model of the research was developed. The results show that the factors affecting the remuneration of financial managers are around the central category of improving the quality of reporting, which is formed under the influence of causal conditions. This process begins with causal conditions and leads to the formation of a central category that improves the quality of reporting, which is improved by using strategies thanks to the salaries of financial managers, and the result will be the creation of a proper payment system for financial managers.