Effect Earnings Timeliness on Public Stock Offering Abnormal Returns in Listed Companies of Tehran Stock Exchange

This study is to investigate the impact earnings timeliness on Public Stock Offering Abnormal Returns in Listed Companies of Tehran Stock Exchange. In this regard, the earnings timeliness is used as an indicator for information asymmetry, and if the earnings timeliness is timelier, information asymmetry is less. For this purpose, first earnings timeliness was estimated using a panel data Analysis for the period 2001 to 2011. The result show there is a negative relationship between earnings timeliness and cumulative abnormal returns, but this relationship isn’t significant. Also the result show there is a significant and negative relationship between Company size and stocks Offer size with cumulative abnormal returns.