The Relationship between the Product Market Competition and Information Asymmetry; Structural Equation Modeling Approach
Subject Areas :
اکبر کنعانی
1
(گروه حسابداری،دانشگاه آزاداسلامی، واحد کرمانشاه،کرمانشاه،ایران.)
رضوان حجازی
2
(گروه حسابداری،دانشگاه الزهرا،تهران، ایران.)
مهرداد قنبری
3
(گروه حسابداری،دانشگاه آزاداسلامی،واحدکرمانشاه،کرمانشاه،ایران.)
بابک جمشیدی نوید
4
(گروه حسابداری،دانشگاه آزاداسلامی،واحدکرمانشاه،کرمانشاه،ایران.)
Keywords: Growth opportunities, Information Asymmetry, product market competition, Keywords: Earning Forecast Error, Informed Traders,
Abstract :
Since competition in the product market is one of the factors influencing the decisions of managers and investors, it is therefore considered as an important component in the reduction of information asymmetry in terms of insiders and outsiders decision making.The purpose of this study was to investigate the effect of competition in product market on information asymmetry.The statistical population of this research is the companies accepted in the TSE by using structural equation modeling approach. In order to measure the level of competition, the Herfindahl-Hirschman index and to measure the information asymmetry, Bid-Ask criteria and firm size, earning forecast error and growth opportunities was used. After assuring the ability to measure the information asymmetry variable by the indicated indicators as well as the appropriate fit for the measurement and structural model of the research, the results indicate that the level of competition in the product market has a significant effect on the information asymmetry. In other words, with increasing competition in the product market, information asymmetry decreases.
یادداشتها
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