بررسی اثر کیفی اجزای افشاء ریسک شرکتی بر عدم تقارن اطلاعاتی با توجه به متغیر‌های تعدیل گر ریسکی بودن، شرایط رکود و تحلیل-گران نهادی در بورس اوراق بهادار تهران

نوع مقاله : مقاله علمی پژوهشی

نویسندگان

1 استادیار حسابداری، دانشکدۀ اقتصاد و مدیریت، دانشگاه ارومیه، ارومیه، ایران

2 دانشیار علوم مالی، دانشکدۀ اقتصاد و مدیریت، دانشگاه ارومیه، ارومیه، ایران

3 دانشجوی کارشناسی ارشد مدیریت مالی، دانشکدۀ اقتصاد و مدیریت، دانشگاه ارومیه، ارومیه، ایران

چکیده

هدف این پژوهش بررسی ارتباط بین کیفیت افشای ریسک شرکتی با عدم تقارن اطلاعاتی در شرایط ریسکی‎بودن شرکت، رکود و وجود تحلیل‎گران نهادی در بورس اوراق بهادار تهران است. برای دستیابی به هدف پژوهش، 100 شرکت برای دورۀ زمانی پژوهش (1393-1388) بررسی شده است. فرضیه­های پژوهش با استفاده از الگوی داده­های تصادفی آزمون شد و تجزیه‌ و تحلیل افشای اطلاعات ریسک، از طریق تحلیل محتوایی از بخش­های مختلف گزارش هیئت‌مدیره صورت گرفت. رویۀ اجرای پژوهش بر اساس استاندارد­هایی است که لینسلی و شرایوز (2006) تدوین کرده‎اند. نتایج پژوهش نشان می­دهد رابطۀ منفی و معناداری بین کیفیت افشای ریسک و عدم تقارن اطلاعاتی (شکاف قیمت پیشنهادی خریدوفروش و سطح معاملات) وجود دارد. همچنین میزان ریسکی بودن شرکت با توجه به سطح فناوری و وجود تحلیل­گران نهادی در حالت حجم معاملات، تأثیر معناداری بر ارتباط بین کیفیت افشای ریسک و عدم تقارن اطلاعاتی می‎گذارد؛ اما در بورس اوراق بهادار تهران افشای اطلاعات ریسکی در وضعیت‎های مختلف اقتصادی تأثیر یکسانی بر عدم تقارن اطلاعاتی دارد.

کلیدواژه‌ها


عنوان مقاله [English]

The Qualitative Effect of Risk Disclosure Components on Information Asymmetry, Regarding To the Moderating Variables, Firm-Riskiness, Economic Downturn and Institutional Analysts in Tehran Stock Exchange

نویسندگان [English]

  • Mehdi Heidari 1
  • Gholamreza Mansourfar 2
  • Mehdi Rezaei 3
1 Assisstant Professor in Accounting Department in Urmia University
2 Associate Prof., Faculty of Economics & Management, Urmia University, Iran
3 MSc. Student in Financial Management, Faculty of Economics & Management, Urmia University, Iran
چکیده [English]

The purpose of this study is to investigate the relationship between the quality of company's risk disclosure with information asymmetry under Firm-Riskiness, economic downturn and institutional Analysts in Tehran Stock Exchange To achieve this aim 100 firms were evaluated over the period of 2009-2014.To test the research hypothesis, random data pattern is used. The analysis of risk information disclosure in this study have been investigated by content analysis of the various sections of board of directors Performance Report. The role of the present study is based on the standard which was introduced by Linsley and Shrives (2006). The results of current study show that there is a significant negative relationship between quality of risk disclosure and information asymmetry (bid-ask spread and volume of transactions). Also level of firm-riskiness regarding to level of technology and existence of institutional Analysts in volume of transactions case had a significant impact on the relationship between quality of risk disclosure and information asymmetry. But in Tehran Stock Exchange, risk information disclosure in different Economic conditions has a same impact on information asymmetry.

کلیدواژه‌ها [English]

  • "Quality of Risk Disclosure"
  • " Information asymmetry"
  • "Different Firm-Riskiness"
  • "institutional Analysts"
  • "Market Conditions"
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