جستجوی مقالات مرتبط با کلیدواژه « Information asymmetry » در نشریات گروه « حسابداری »

A strong board can play a key role in increasing firm performance and value and lead to value creation. as a result, properly performing duties and responsibilities can be effective on attracting investment opportunities. on the other hand, under the ethical risk model, managers who are not adequately monitored over their performance may benefit from the information advantage that may be more or more efficient than the optimum level; therefore information asymmetry could affect the effectiveness of firms' investment. the purpose of this study is to investigate the relationship between board characteristics and investment efficiency in tehran stock exchange and also the effect of information asymmetry on this relationship. This study investigated the financial information of 132 firms accepted in tehran stock exchange during the years 1392-1400. to test the research hypotheses, regression model was used with panel data method and fixed effects. Analysis of the findings indicates that the characteristics of the board have a direct and significant relationship with investment efficiency and asymmetry of information asymmetry moderates the relationship between board characteristics and investment efficiency. The results indicate that the board affects the company's investment efficiency through monitoring and maintaining relationships with shareholders, and the board with improved information environment can help reduce the information asymmetry between the management and the shareholders that lead to optimal investment in the company.

Comparability is one of the qualitative characteristics of financial information that enables users to examine the similarities and differences between financial statement items and make a more rational assessment of various investment or lending opportunities. On the other hand, based on the firm life cycle theory, Firms evolve through distinct life cycle stages and resource and competitive environments create different organizational structures, systems, and agency problems. This research examines how the comparability of firms financial statements in the maturity stage of their life cycle differs from that in other life cycle stages. hence, it is argued that mature firms tend to prepare financial statements that are comparable among their industry peers. be The statistical population of the research was the companies accepted in the Tehran Stock Exchange during the years 1395 to 1400 and included 738 firm-companies. The research results show that the maturity stage of the company's life cycle has a positive relationship with the comparability of financial statements. Also, the current research deals with the relationship between the life cycle and the comparability of financial statements according to the moderating role of information asymmetry and free cash flow, the results show that the positive relationship between mature companies and the comparability of financial statements is moderated by the existence of information asymmetry, but free cash flow has no effect on the life cycle (maturity stage) and the comparability of financial statements.

Quick information by companies is very important for investors and shareholders to make timely decisions, but there are many observations and evidences that show that companies release internal company news and information sooner or later in order to protect their interests. which causes information asymmetry among users of financial statements, this phenomenon causes capital to be transferred unfairly to investors who are aware and aware of companies' secret information. This research aims to investigate the information asymmetry before the release of negative and positive unexpected profits in 124 companies selected using the systematic elimination sampling method, and the hypotheses were tested using the methods of comparing the average of two populations and the generalized least squares regression method. It has been taken and paid. The results of this hypothesis show that in the Iranian Stock Exchange, the companies admitted to it have negative news under their control and external users are unaware of the existence of such information. Also, before the publication of negative unexpected profits, the information asymmetry is greater than the information asymmetry in the case when the company publishes positive unexpected profits.

The lack of sufficient research literature on voluntary disclosure has motivated this study. First, to date, no comprehensive disclosure measurement study has been conducted that could guide future researchers when creating their own disclosure scales or accepting existing ones. Second, issues related to measurement in the social sciences and the evaluation of disclosure scales are rarely addressed in the accounting research literature. The present study presents and analyzes the components and indicators of voluntary disclosure in a comprehensive framework by examining the views of experts. Also, after determining the components and weighting them with the approach of reducing information asymmetry, the gap between the current and expected situation was examined by 108 experts. The statistical population of the study includes university professors, experts and managers working in the profession of accounting, auditing and financial management of Iran and Tehran Stock Exchange companies in 1399. Research data were analyzed using heuristic factor analysis test, structural equation model and t-test using SPSS software. The results of heuristic factor analysis showed that three dimensions can be extracted for voluntary disclosure of companies (general information and leadership, performance and innovation and future growth) and also the results of t-test showed that between the current situation (current performance) and expected by experts There is a significant difference. The results of this study may reflect the expectations of experts and users of financial statements regarding voluntary disclosure.

The main purpose of this research is to investigate the moderating role of ownership concentration on the relationship between corporate social responsibility performance and information asymmetry in 105 companies admitted to the Tehran Stock Exchange between 1395 and 1400. Data extraction was used from the databases of Kodal and the Stock Exchange Organization; And finally, the collected data was analyzed using Eviews 10th edition econometric software, and the results obtained from the first hypothesis of the research showed that there is a significant relationship between the performance of corporate social responsibility and information asymmetry, and the results obtained from the second hypothesis showed that Ownership structure weakens the negative relationship between corporate social responsibility performance and information asymmetry.

The problem of agency appears as a result of the difference in goals between the agent and the owner. Concentrated ownership is a situation where a few large shareholders own a significant portion of the company's stock. By having a large share, the largest shareholder can monitor the company more accurately and easily and limit the management from doing ineffective work and also reduce information transparency and information asymmetry in the company. Therefore, the purpose of this research is to study the effect of ownership concentration on the relationship between tax evasion and information asymmetry. The statistical research population of companies admitted to the Tehran Stock Exchange and the studied sample includes 140 admitted companies during the years 2017 to 2018. The research method is descriptive and in terms of the relationship between the variables, it is causal-correlation, and in terms of the objective, it is applied, and in terms of the event, it is post-event. The regression method and panel data as well as the fixed effects model were used to process and test the hypotheses. The results obtained from the hypothesis analysis showed that ownership concentration has a negative and significant effect on the relationship between tax evasion and information asymmetry.

Information asymmetry has always been an important issue among academics. In information asymmetry, one side of the exchange has more information than the other. One of the ways to make a successful exchange is for the buyer to try to raise his information about the other side, the seller, and the level of quality of his services as much as possible. But this is not always practical and not very economical. Therefore, according to the above, this research seeks to investigate whether information asymmetry and profit sharing policies have an effect on the role of the quality of corporate governance. The statistical population of the research is 120 companies admitted to the Tehran Stock Exchange. Also, the time domain includes 11 consecutive years from 1391 to 1401, according to the results of the hypothesis test, the information asymmetry variable has a significant effect on profit sharing policies, and other research findings showed that the quality of corporate governance has a relationship between information asymmetry and profit sharing policy. adjusts

The present study investigates whether companies with high organizational capital are more likely to use high-quality audits or not.

In line with the research's purpose, panel data of Tehran Stock Exchange companies from 2012 to 2021 was utilized. Logistic regression, considering the effects of year and industry, was employed to test the hypotheses.

Organizational capital has a positive and significant impact on auditor selection based on size and expertise. Given that high-quality auditing can effectively mitigate information asymmetry, organizations with greater organizational capital will likely have a higher demand for top-notch auditing services. Organizational capital, being an intangible asset, can contribute to information asymmetry, which in turn raises the company's capital costs. Consequently, companies with substantial organizational capital are inclined to conduct superior quality audits to diminish information asymmetry and enhance investor trust by delivering reliable information.

Given the significance of corporate capital reporting and its audit, it is recommended that accounting and financial reporting regulators focus on corporate capital requirements and enhance and standardize the rules and regulations concerning corporate capital reporting. Furthermore, investors, professors, researchers, and other stakeholders should recognize organizational capital as a crucial factor influencing the quality of financial reports utilized by managers.

Social responsibility increases social trust, improves business conditions, promotes brand, preserves the environment, and manages future crises. In this regard, considering these positive consequences and the mandatory reporting of social responsibility for listed companies in Iran, the purpose of this study is to investigate the effect of financial restatements on the quality and disclosure of voluntary activities of social responsibility reporting in the form of legitimacy and signaling theory. The current research is applied in terms of purpose and descriptive-correlation type. The statistical population of the research is all the companies admitted to the Tehran Stock Exchange, and using the targeted screening method, a sample including information about 100 companies were collected, and analyzed during the years 2018-2022. In order to test the hypotheses of the research, the logistic model, and also the linear regression model have been used. The research results show that companies that have no financial restatements have more motivation for voluntary social responsibility reporting activities, which is consistent with the signaling theory and shows that business units with problems of low representation and information asymmetry are more inclined to carry out voluntary measures of social responsibility reporting. Therefore, it is better for companies to engage in voluntary social responsibility reporting activities in order not only to use the competitive advantage and its marking, but also to benefit from the advantage of increasing future performance.

Information asymmetry and economic uncertainty are features of the capital market in today's complex business environment, which increase audit risk and litigation risk, and can be effective in explaining audit fees. The purpose of this research is to investigate the role of legal claims risk, information asymmetry and economic uncertainty in explaining audit fees. The time domain of the research is the period from 2013 to 2021 and the research sample includes 120 companies listed on the Tehran Stock Exchange. Research findings, based on analysis using multivariable regression models on combined data, show that among the macroeconomic variables investigated (including economic growth rate, inflation rate, exchange rate, and interest rate), both economic growth rate and inflation rate have a direct and significant relationship with the audit fee. Additionally, there is a direct and significant relationship between the risk of lawsuits and information asymmetry with the audit fee. The results indicate that the risk of lawsuits, economic uncertainty and information asymmetry play an effective role in explaining auditors' fees.

Recent research confirms the view that companies need foreign capital to finance their labor payments and financing frictions can affect labor investment. Real earnings smoothing can affect labor investment efficiency through its effect on market frictions caused by information asymmetry between managers and suppliers of external capital sources. The purpose of the current research is to investigate the effect of real earnings smoothing and its components on labor investment efficiency.
Since the results of the research can be used in the decision-making process, the present study falls within the domain of applied research, and since the data were collected based on the real information of the past, it qualifies as an ex-post facto. Furthermore, this research adopts a descriptive-correlational approach, aiming to explore and analyze the relationships between variables under study. The Labor Investment Efficiency is measured according to the framework proposed by Pinnock and Lillis (2007), while the variable of earnings smoothing through real activities and its components is assessed based on the methodologies outlined in the research of Tucker and Zarowin (2006). Additionally, the approach employed by Dou, Hope, and Thomas (2013) to isolate the components of earnings smoothing has been utilized in this study. Given the conditions and constraints applied to the statistical population of the study, a sample comprising 106 companies listed on the Tehran Stock Exchange was selected. This sample was then subjected to analysis using multivariate regression models.
 
The findings indicate that as the degree of real earnings smoothing rises, there is a corresponding increase in labor investment efficiency. This relationship holds for the informational component of real earnings smoothing as well, demonstrating a positive and significant association with labor investment efficiency. However, the influence of the garbling component on labor investment efficiency was not found to be significant.
According to the obtained results, it appears that managers employ real earnings smoothing as a means to communicate concealed information regarding the company's prospects. By smoothing earnings across consecutive periods, they aim to provide investors and creditors with a coherent and optimistic outlook on the company's future trajectory. Managers reduce information asymmetry by using signaling tools, which causes them to have the necessary financial resources for their investments in labor and make efficient decisions about that. In general, based on the private information signaling perspective, it can be concluded that real earnings smoothing serves as a mechanism for managers to convey their private insights into the company's future earnings. This practice helps mitigate information asymmetry between companies and foreign capital suppliers, consequently enhancing labor investment efficiency. Regarding the garbling component of real earnings smoothing and considering the rejection of the hypothesis of its effect on the efficiency of labor investment, it can be concluded that several potential factors could potentially neutralize this effect. These may include the ignorance or misdirection of certain market participants, the prevalence of irrational behaviors, a steadfast belief in stability, and an excessive emphasis on the informational component. Finally, in addition to highlighting the positive role of real earnings smoothing in increasing the efficiency of labor investment, considering the importance of this issue and also the lack of recognition of the management's intention of real earnings smoothing, this study suggests the need for further exploration in this field.

Restatement on the capital market contains important information for investors and capital market actors, but contrary to how Restatement reflects a failure in the past, it can contain useful information about the firms that will improve the financial statements quality. existence or absence of quality of financial statements is one of the topics that have been overlooked in current research, so in this study, a model to measure the increasing quality of restatement by the emphases the role of the audit committee characteristics and information asymmetry Will be provided. The sample of the present study consists of 108 firms during 2012 and 2018 Which was selected by systematic elimination method. The results showed that audit committee characteristics (the existence or absence of the audit committee, the independence of the audit committee and financial expertise of members of the audit committee) has a positive effect on restatement. And also, information asymmetry, has a significant effect on the quality of restatement.

Investors and other users can correctly benefit from the company's profits for investment decisions and forecasting future cash flows and profits when the company's profits are based on the actual financial performance of the company and not on the actions Management's opinion on the use of accounting methods should be reported. Based on this, the aim of this research is to investigate the influence of board independence and institutional ownership on the relationship between information asymmetry and profit management. The current research is applied in terms of purpose and causal research (post-event) in terms of method. The statistical population of the research is the companies admitted to the Tehran Stock Exchange, and using the systematic elimination sampling method, 141 companies were selected in the period between 1395 and 1401. The research hypotheses were tested with the help of multivariate linear regression with Eviuse software. The results show that the ownership of institutional investors and the independence of the board of directors have a significant effect on the relationship between information asymmetry and earnings management.

With global warming and environmental pollution, today's societies are trying to reduce pollution and require companies to be socially responsible. One of the factors that can affect accountability is the optimistic tone of managers. In the current research, it examines the effect of managers' optimistic tone on corporate social responsibility disclosure, emphasizing information asymmetry.

This research is practical from the point of view of purpose, and from the point of view of correlation methodology, it is causal type (post-event). The statistical population of the research is the companies admitted to the Tehran Stock Exchange, and using the systematic elimination method, 138 companies were selected as the research sample in the 6-year period between 2017and 2022. Stata software was used to test research hypotheses.

The results of the research show that the optimistic tone of the managers has a direct effect on the disclosure of the social responsibility of the company. But information asymmetry has the opposite effect on the disclosure of corporate social responsibility. Also, information asymmetry has an inverse effect on the relationship between managers' optimistic tone and corporate social responsibility disclosure.

Although the optimistic tone of managers increases the disclosure of corporate social responsibility, information asymmetry causes it to decrease. Therefore, it can be concluded that information symmetry is effective in social responsibility.

Contribution:

 In recent years, shareholders and investors and governments have paid special attention to social responsibility. Therefore, this research can provide a new study platform in the sense that the social responsibility of companies with regard to environmental pollution is relevant, in order to explain the necessary solutions and increase the pressure on companies. Especially, attention has been paid to the tone of managers and its compliance with the financial and non-financial performance of companies.

Firms that benefit from investment outcomes encourage managers to improve the quality of firm performance through the activity of firm profit manipulation. Also, good corporate governance can improve performance and long-term economic value for investors and shareholders. Based on this, the purpose of this research is to examine the relationship between information asymmetry and profit management with an emphasis on the dimensions of corporate governance. The statistical population of the research is the companies admitted to the Tehran Stock Exchange, and 149 companies were selected as the research sample using the systematic elimination sampling method. The research period was between 1394 and 1401. To test the research hypotheses, multivariable linear regression was used with the help of Evoz software. The results of the research showed that there is a significant positive relationship between information asymmetry and earnings management, also the percentage of ownership of institutional shareholders and the percentage of ownership of the board members on the relationship showed a significant effect between information asymmetry and profit management.

Divergence of opinions is a kind of inconsistency related to investors in which the estimation of investors about the value of assets is different, in fact, divergence of opinions refers to the difference of opinion of investors in the market about the shares of companies. The purpose of this study is to investigate the impact of investors' divergent opinions on stock mispricing, considering the role of financial information quality and information asymmetry in Iran's capital market. The current research is applied and from the methodological point of view, the correlation is causal type (post-event). The statistical population of the research is all the companies admitted to the Tehran Stock Exchange and using the systematic elimination sampling method, 127 companies were selected as the research sample and in the 10-year period between 2012 and 2021, which is the period of 2021 in the raw data calculations. has been used, so it has been used for statistical tests since 9 years. The results of the research hypothesis test showed that the divergence of investors' opinions has a direct effect on the incorrect pricing of stocks. Besides, information asymmetry and quality of financial information intensify mispricing, but their interaction with the divergence of investors' opinions did not show any effect on mispricing of shares.

This research aimed to investigate the effect of financial reporting readability on the cost of capital by emphasizing the moderating role of the financial reporting quality in firms listed on the Tehran Stock Exchange. To achieve this aim of the research, hypotheses were tested using a panel data approach and logit regression. Using 1440 firm-year observations of listed firms on TSE from 2010 to 2019, investigated the nexus between the readability of financial reporting and cost of capital, where the readability of financial reporting is proxies by Fog and Flesch indexes. The results showed no significant relationship between financial reporting readability and cost of capital. While findings exhibit that financial reporting quality has an interactive effect between research variables. The results indicated that this effect could reduce the cost of capital. Additional analysis indicates that the role of the interactive effect of financial reporting quality and readability on the cost of capital is much more important among companies with high information asymmetry than companies with low information asymmetry. Furthermore, indicate no non-linear association is between the readability of financial reporting and the cost of capital. The empirical results of this research reveal that companies with high quality financial reporting have lower capital costs. In other words, the high quality of financial reporting affects the relationship between the readability of financial statements and the cost of capital. Therefore, reduce the information asymmetry between uninformed investors and management with high reporting quality. That is, higher readability reduces the risk resulting from being uninformed investors about the companies' future growth.Contribution: This research adds to the existing literature by providing empirical evidence from the test of obfuscation and signaling hypothesis and the consequences of linguistic style in emerging markets such as Iran. Also, the results of this paper require attention to the role of financial reporting quality.