Examining the Relationship between the Level of Disclosure of Accounting Information and the Fluctuation of the Price of Stock, in the Companies Accepted in Tehran’s Stock Market
Subject Areas :
Mohammad Hassani
1
(استادیار دانشگاه آزاد اسلامی واحد تهران شمال گروه حسابداری)
Seyed Mohammad Bashir Hosseini
2
(کارشناس ارشد گروه حسابداری دانشگاه آزاد اسلامی واحد تهران شمال)
Keywords: Mandatory Disclosure, Level of Disclosure, Optimal Disclosure, Stock Price Fluctuations,
Abstract :
Accounting information that is used by most of investors and creditors is very important for their decision making. Information about accepted companies in stock market gets revealed annually to public for decision making. So in this research, due to the importance of information and the disclosure of information by companies and its effect on the price of the stock, the relationship between the level of disclosure and the fluctuation of the price of stock of the companies accepted in stock market. Statistical society of this research was chosen between accepted companies in stock market which were 448 by the end of 2008. Statistical sample includes 72 companies which were chosen randomly from the statistical society. This research includes one question, one theory. For accumulating different variables of this research the available information of the Tehran’s Stock Market Organization was used and for examining the theory the index of Pierson relativity was used. By noticing the analytical statistics the research questions were answered and by examining the theory at 95% of security level the main theory of this research was confirmed and the result obtained showed a meaningful relationship between disclosure of accounting information and fluctuation of the stock price.
