A survey of the impact of disclosure on cost of equity of the firms listed on TSE

سال انتشار: 1394
نوع سند: مقاله کنفرانسی
زبان: انگلیسی
مشاهده: 362

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شناسه ملی سند علمی:

ICMEH01_070

تاریخ نمایه سازی: 11 مرداد 1396

چکیده مقاله:

This study evaluates the relationship between information disclosure and cost of equity. The present study evaluates this issue whether increasing information disclosure reduces cost of equity The study sample includes 87 firms listed on TSE during 2007 to 2012. To measure information disclosure variable, the criteria of discretionary disclosure score of firms and disclosure quality score and information of TSE are used. The results show the negative and significant relation between discretionary disclosure variables of information and cost of equity. Indeed, by increasing discretionary disclosure, the efforts of investors to achieve confidential information are reduced and information asymmetry is reduced. By reduction of information asymmetry, demand for firm stock is increased and this issue leads to the reduction of firm cost of equity. Also, there is no significant association between disclosure quality score and information of TSE and cost of equity.

نویسندگان

Nasrin Yousefzadeh

Faculty member of Accounting, Vali-E- Asr University of Rafsanjan

Hojat Hoseininasab

Faculty member of Accounting, Vali-E- Asr University of Rafsanjan

Alireza khorshidi

MSC of Accounting, Vali-E- Asr University of Rafsanjan

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