The impact of the qualitative characteristics of accounting information in the cost of Common stock

Investors usually based on the balance between risk and return on their decision. It is likely to be determined by the amount of data reported by the companies and other investment returns expected in the future evidence. Whatever the quality of the information provided above, will reduce the risk of information as a result of the uncertainty in the estimation of expected returns (returns demanded by shareholders) and fell in the end reduce the cost of stock. The purpose of this study was to investigate the relationship between the qualitative characteristics of accounting information (reporting on theoretical concepts) and the cost of the rights of shareholders in listed companies in Tehran Stock Exchange. For this study, has a review of 150 companies listed on the Tehran Stock Exchange for the five-year period from 2009 to 2013. To test this hypothesis in the study for a period of 5 years from a range of fixed effects regression models (with respect to the results of Lyme Housman claimed test F) was used. Overall, the results indicate that the level of companies the protective effect only on the cost of capital is negative and significant and qualitative characteristics of accounting information on the cost of the stock is not affected. This reflects the fact that respect for the province in the preparation of financial reports from the point of view of investors in the capital market the importance and effectiveness and reduced the expected return.

کلیدواژه ها:

Qualitative Characteristics of Accounting ، Relevance ، Reliability ، Cost of Common