The Effect of the Quality of Corporate Disclosure on Stock Liquidity by Tehran Stock Exchange (TSE) listed Companies
Regarding the critical role of liquidity in asset price discovery, sharing of financial risk, increasing of expected return and transaction costs reduction, it is important to know about the effective factors. This study examines the effects of the quality of corporate disclosure on stock liquidit...
| Main Authors: | , |
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| Format: | Article |
| Language: | fas |
| Published: |
Allameh Tabataba'i University Press
2010-12-01
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| Series: | مطالعات تجربی حسابداری مالی |
| Subjects: | |
| Online Access: | https://qjma.atu.ac.ir/article_4330_341985aff5714072ae5356693aa2d58d.pdf |
| _version_ | 1797378293885829120 |
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| author | Mehdi Moradzadeh Fard Mina Aboohamzeh |
| author_facet | Mehdi Moradzadeh Fard Mina Aboohamzeh |
| author_sort | Mehdi Moradzadeh Fard |
| collection | DOAJ |
| description | Regarding the critical role of liquidity in asset price discovery, sharing of financial risk, increasing of expected return and transaction costs reduction, it is important to know about the effective factors. This study examines the effects of the quality of corporate disclosure on stock liquidity. Because increasing disclosure quality reduces information asymmetry and reducing information asymmetry increases market liquidity, so the main hypothesis of this study is that disclosure quality has effect on stock liquidity. In this study, for separating various details impacts of disclosure quality, we used timeliness and reliability and to determine stock liquidity, we used 15 different trading and information liquidity measures. 112 Tehran Security Exchange listed companies, from 1384 to 1388 are chosen and research hypothesis was tested by linear multivariable regression in pre and post-test. The results indicate that disclosure quality has positive effect on stock liquidity. Also, they show positive effect of reliability on stock liquidity. |
| first_indexed | 2024-03-08T20:05:46Z |
| format | Article |
| id | doaj.art-107f082d3c464f3e832bb7ebe4029683 |
| institution | Directory Open Access Journal |
| issn | 2821-0166 2538-2519 |
| language | fas |
| last_indexed | 2024-03-08T20:05:46Z |
| publishDate | 2010-12-01 |
| publisher | Allameh Tabataba'i University Press |
| record_format | Article |
| series | مطالعات تجربی حسابداری مالی |
| spelling | doaj.art-107f082d3c464f3e832bb7ebe40296832023-12-23T10:34:46ZfasAllameh Tabataba'i University Pressمطالعات تجربی حسابداری مالی2821-01662538-25192010-12-01832731024330The Effect of the Quality of Corporate Disclosure on Stock Liquidity by Tehran Stock Exchange (TSE) listed CompaniesMehdi Moradzadeh Fard0Mina Aboohamzeh1استادیار حسابداری دانشگاه آزاد واحد کرجکارشناس ارشد حسابداری دانشکده علوم اقتصادیRegarding the critical role of liquidity in asset price discovery, sharing of financial risk, increasing of expected return and transaction costs reduction, it is important to know about the effective factors. This study examines the effects of the quality of corporate disclosure on stock liquidity. Because increasing disclosure quality reduces information asymmetry and reducing information asymmetry increases market liquidity, so the main hypothesis of this study is that disclosure quality has effect on stock liquidity. In this study, for separating various details impacts of disclosure quality, we used timeliness and reliability and to determine stock liquidity, we used 15 different trading and information liquidity measures. 112 Tehran Security Exchange listed companies, from 1384 to 1388 are chosen and research hypothesis was tested by linear multivariable regression in pre and post-test. The results indicate that disclosure quality has positive effect on stock liquidity. Also, they show positive effect of reliability on stock liquidity.https://qjma.atu.ac.ir/article_4330_341985aff5714072ae5356693aa2d58d.pdfthe quality of corporate disclosureinformation asymmetrystock liquiditytimelinessreliability |
| spellingShingle | Mehdi Moradzadeh Fard Mina Aboohamzeh The Effect of the Quality of Corporate Disclosure on Stock Liquidity by Tehran Stock Exchange (TSE) listed Companies مطالعات تجربی حسابداری مالی the quality of corporate disclosure information asymmetry stock liquidity timeliness reliability |
| title | The Effect of the Quality of Corporate Disclosure on Stock Liquidity by Tehran Stock Exchange (TSE) listed Companies |
| title_full | The Effect of the Quality of Corporate Disclosure on Stock Liquidity by Tehran Stock Exchange (TSE) listed Companies |
| title_fullStr | The Effect of the Quality of Corporate Disclosure on Stock Liquidity by Tehran Stock Exchange (TSE) listed Companies |
| title_full_unstemmed | The Effect of the Quality of Corporate Disclosure on Stock Liquidity by Tehran Stock Exchange (TSE) listed Companies |
| title_short | The Effect of the Quality of Corporate Disclosure on Stock Liquidity by Tehran Stock Exchange (TSE) listed Companies |
| title_sort | effect of the quality of corporate disclosure on stock liquidity by tehran stock exchange tse listed companies |
| topic | the quality of corporate disclosure information asymmetry stock liquidity timeliness reliability |
| url | https://qjma.atu.ac.ir/article_4330_341985aff5714072ae5356693aa2d58d.pdf |
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