The study of Investor Valuation Through Uncertain Tax Positions of listed companies in Tehran Stock Exchange

Adoption of aggressive tax procedures by managers, Which is expected to lead to increased uncertainty about corporate environmental information and uncertainty of cash flows expected the corporate to investors. Statistical population the study is that listed companies in Tehran Stock Exchange during the period 1386 to 1391 that 80 companies were selected as samples. Data for this study based on panel data model with fixed-cross effects are analyzed. The results of the analysis indicate a significant positive impact on the level of Uncertain through Tax Positions in the investors expected return rate. So that the deviation in company's effective tax rate as a measure of uncertainty Uncertain through Tax Positions, the direct impact on the profits of the industry's price adjustment.