Investigating the effect of information asymmetry on company value (Case study: insurance companies listed on the Tehran Stock Exchange)

Document Type : Original Article

Authors

1 M.A. in Accounting, Hatef Institute of Higher Education, Zahedan, Iran

2 PhD in Accounting, Hatef Institute of Higher Education, Zahedan, Iran

3 M.A. in Accounting (Faculty Member), Hatef Institute of Higher Education, Zahedan, Iran

Abstract

The purpose of this study is to investigate the effect of information asymmetry on the value of insurance companies listed on the Tehran Stock Exchange. The statistical sample of this research are the insurance companies listed on the Tehran Stock Exchange and the selected sample includes 22 companies. This research is an empirical in terms of purpose and is descriptive-correlational. The scope of the research is the information of the insurance companies listed on the Tehran Stock Exchange from 2013 to 2017. The data was analysed by Eviews 9 software. The findings of this study showed that there is a significant relationship between information asymmetry and company value.

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References

Fama, E.F. (1980). Agency Problems & the Theory of the Firm. Journal of Political Economy, 88, 288-307.
Baccidor, M.G. (1997). The Search  for  the  Best  Financial Performance  Financial  Analyst  Journal, 54(3).
Wang, Y., Chen, Y. & Wang, J. (2015). Management earnings forecasts and analyst forecasts: Evidence from mandatory disclosure system. China Journal of Accounting Research, 8, 133-146.
Nguyen, D. & Puri, T.N. (2013). Information asymmetry and accounting restatement: NYSE-AMEX and NASDAQ evidence. Review Quantitation Finance and Accounting, 43(2), 211-244.
New Applied Studies in Management, Economics & Accounting
Volume 2, Issue 4
December 2019
Pages 49-58

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History

  • Receive Date: 18 August 2019
  • Revise Date: 02 October 2019
  • Accept Date: 30 October 2019

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