A Study of Impact of Ownership Structure and Disclosure Quality on Information Asymmetry in Iran (Record no. 50051)
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| 000 -LEADER | |
|---|---|
| fixed length control field | 02720nam a22002297a 4500 |
| 003 - CONTROL NUMBER IDENTIFIER | |
| control field | OSt |
| 005 - DATE AND TIME OF LATEST TRANSACTION | |
| control field | 20180626145953.0 |
| 008 - FIXED-LENGTH DATA ELEMENTS--GENERAL INFORMATION | |
| fixed length control field | 180626b ||||| |||| 00| 0 eng d |
| 100 ## - MAIN ENTRY--PERSONAL NAME | |
| Personal name | Salehi, Mahdi |
| 9 (RLIN) | 31910 |
| 245 ## - TITLE STATEMENT | |
| Title | A Study of Impact of Ownership Structure and Disclosure Quality on Information Asymmetry in Iran |
| 300 ## - PHYSICAL DESCRIPTION | |
| Extent | 51-63 p. |
| 520 ## - SUMMARY, ETC. | |
| Summary, etc | Capital market uses financial information with high disclosure quality, and this information can influence capital market decision-making. Corporate governance research shows that ownership structure can influence financial reporting quality, and thus play an effective role in capital market decision-making.<br/><br/>The main purpose of the current study is to examine the impact of ownership structure and disclosure quality on the information asymmetry phenomenon among the listed companies on the Tehran Stock Exchange (TSE). Ownership structure (including ownership concentration and institutional ownership) and disclosure quality (including reliability and timeliness) are considered as independent variables, and their impact is examined on the dependent variable (information asymmetry). Consistent with extant literature, bid-ask spread is used as a proxy variable for information asymmetry.<br/><br/>The statistical results, based on data collected from 102 listed companies on the TSE during 2007–2014, revealed positive impact of ownership structure and negative impact of disclosure quality on information asymmetry. These results show that information asymmetry is less in firms that published more reliable and timely information, and is more in firms with more concentrated ownership structure, higher institutional ownership, and lower disclosure quality. In other words, reliability and timeliness of information have a positive role in stock price identification and close-up views of the buyer and seller in TSE.<br/><br/>Findings of this article can assist accounting researchers and theoreticians in comparing real world facts with hypotheses developed with respect to ownership structure, disclosure quality, and information asymmetry. By increasing transparency in the capital markets, market participants, decision-makers, financial analysts, and potential investors are aided in their analysis of plans for investments in financial assets. |
| 653 ## - INDEX TERM--UNCONTROLLED | |
| Uncontrolled term | Ownership Structure |
| Uncontrolled term | Discolure Quality |
| Uncontrolled term | Ownership Concentration |
| Uncontrolled term | Institutional Ownership |
| Uncontrolled term | Information Asymmetry |
| 700 ## - ADDED ENTRY--PERSONAL NAME | |
| Personal name | Salehi, Mahdi |
| 9 (RLIN) | 31911 |
| 710 ## - ADDED ENTRY--CORPORATE NAME | |
| Corporate name or jurisdiction name as entry element | Ali Radbon |
| 9 (RLIN) | 31912 |
| 773 0# - HOST ITEM ENTRY | |
| Host Biblionumber | 49839 |
| Host Itemnumber | 59337 |
| Main entry heading | Chand,Vijaya Sherry |
| Place, publisher, and date of publication | Ahmedabad Indian Institute of Management |
| Other item identifier | 5555877 |
| Title | Vikalpa Vol . 41 |
| International Standard Book Number | 0256-0909 |
| 942 ## - ADDED ENTRY ELEMENTS (KOHA) | |
| Source of classification or shelving scheme | Dewey Decimal Classification |
| Koha item type | Journal Article |
| Withdrawn status | Lost status | Source of classification or shelving scheme | Damaged status | Not for loan | Home library | Current library | Date acquired | Total Checkouts | Full call number | Barcode | Date last seen | Price effective from |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dewey Decimal Classification | Main Library | Main Library | 26/06/2018 | Vol 41, Issue 1/ 5555877JA4 | 5555877JA4 | 26/06/2018 | 26/06/2018 |