THE EFFECT OF FINANCIAL STATEMENTS COMPARABILITY ON STOCK PRICE SYNCHRONICITY

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FOROGHI D.; GHASEMZAD P.

مرکز اطلاعات علمی Scientific Information Database (SID) - Trusted Source for Research and Academic Resources

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Paper Information

Journal: Financial Accounting Research Year:2016 | Volume:8 | Issue:1 (27) Page(s): 39-54

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Title

THE EFFECT OF FINANCIAL STATEMENTS COMPARABILITY ON STOCK PRICE SYNCHRONICITY

Author(s)

FOROGHI D. | GHASEMZAD P. | Issue Writer Certificate

Keywords

FINANCIAL STATEMENTS COMPARABILITYQ1

STOCK PRICE SYNCHRONICITYQ1

FIRM-SPECIFIC INFORMATIONQ2

INDUSTRY/MARKET-LEVEL INFORMATIONQ2

Abstract

The purpose of this research is to determine the effect of FINANCIAL STATEMENTS COMPARABILITY as one of the qualitative characteristics of financial reporting on STOCK PRICE SYNCHRONICITY. STOCK PRICE SYNCHRONICITY is a criterion that has been used inversely to measure the information content of stock prices. In order to attain the research purpose, 86 companies among the listed companies in Tehran Stock Exchange during the years 1385 to 1392 (2007-2014) were selected as statistical samples. For analyzing data and testing hypotheses, multi variable regression model with compound data and mean comparison test have been used. Findings of research signify that financial statement comparability has a significant negative impact on STOCK PRICE SYNCHRONICITY. The results also show that in firms with lower synchronicity, information asymmetryis lower. Based on this finding, it can be concluded that FINANCIAL STATEMENTS COMPARABILITY causes the higher level of FIRM-SPECIFIC INFORMATION to be reflected in stock prices.

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APA: Copy

FOROGHI, D., & GHASEMZAD, P.. (2016). THE EFFECT OF FINANCIAL STATEMENTS COMPARABILITY ON STOCK PRICE SYNCHRONICITY. JOURNAL OF FINANCIAL ACCOUNTING RESEARCH, 8(1 (27) ), 39-54. SID. https://sid.ir/paper/155075/en

Vancouver: Copy

FOROGHI D., GHASEMZAD P.. THE EFFECT OF FINANCIAL STATEMENTS COMPARABILITY ON STOCK PRICE SYNCHRONICITY. JOURNAL OF FINANCIAL ACCOUNTING RESEARCH[Internet]. 2016;8(1 (27) ):39-54. Available from: https://sid.ir/paper/155075/en

IEEE: Copy

D. FOROGHI, and P. GHASEMZAD, “THE EFFECT OF FINANCIAL STATEMENTS COMPARABILITY ON STOCK PRICE SYNCHRONICITY,” JOURNAL OF FINANCIAL ACCOUNTING RESEARCH, vol. 8, no. 1 (27) , pp. 39–54, 2016, [Online]. Available: https://sid.ir/paper/155075/en

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