INVESTIGATING THE EFFECTS OF DISCLOSURE QUALITY ON STOCK LIQUIDITY AND COST OF CAPITAL OF THE COMPANIES LISTED IN TEHRAN STOCK EXCHANGE

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SETAYESH M.H.; KAZEMNEJAD M.; ZOLFAGHARI M.

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Journal: Financial Accounting Research Year:2011 | Volume:3 | Issue:3 (9) Page(s): 55-74

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Title

INVESTIGATING THE EFFECTS OF DISCLOSURE QUALITY ON STOCK LIQUIDITY AND COST OF CAPITAL OF THE COMPANIES LISTED IN TEHRAN STOCK EXCHANGE

Author(s)

SETAYESH M.H. | KAZEMNEJAD M. | ZOLFAGHARI M. | Issue Writer Certificate

Keywords

DISCLOSURE QUALITYQ2

STOCK LIQUIDITYQ2

COST OF COMMON EQUITYQ2

INFORMATION ASYMMETRYQ2

Abstract

In this article, the effects of DISCLOSURE QUALITY on the current and future STOCK LIQUIDITY and cost of capital is investigated. In this regard, the effect of size is controlled. For measuring the DISCLOSURE QUALITY, the scores that assigned to each firms by Securities and Exchange Organization is used. For measuring liquidity, shares turnover ratio, trading volume, and the number of traded shares, are used. The findings of investigating 105 firms for a period 1383 to 1387 show that there is a positive significant relationship between size with current and future liquidity, but there isn’t a significant relationship between DISCLOSURE QUALITY with current and future STOCK LIQUIDITY. Furthermore, the negative significant relationship between DISCLOSURE QUALITY with current and future COST OF COMMON EQUITY is confirmed. However, no evidence confirming significant correlation between size and COST OF COMMON EQUITY is found.

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APA: Copy

SETAYESH, M.H., KAZEMNEJAD, M., & ZOLFAGHARI, M.. (2011). INVESTIGATING THE EFFECTS OF DISCLOSURE QUALITY ON STOCK LIQUIDITY AND COST OF CAPITAL OF THE COMPANIES LISTED IN TEHRAN STOCK EXCHANGE. JOURNAL OF FINANCIAL ACCOUNTING RESEARCH, 3(3 (9)), 55-74. SID. https://sid.ir/paper/155123/en

Vancouver: Copy

SETAYESH M.H., KAZEMNEJAD M., ZOLFAGHARI M.. INVESTIGATING THE EFFECTS OF DISCLOSURE QUALITY ON STOCK LIQUIDITY AND COST OF CAPITAL OF THE COMPANIES LISTED IN TEHRAN STOCK EXCHANGE. JOURNAL OF FINANCIAL ACCOUNTING RESEARCH[Internet]. 2011;3(3 (9)):55-74. Available from: https://sid.ir/paper/155123/en

IEEE: Copy

M.H. SETAYESH, M. KAZEMNEJAD, and M. ZOLFAGHARI, “INVESTIGATING THE EFFECTS OF DISCLOSURE QUALITY ON STOCK LIQUIDITY AND COST OF CAPITAL OF THE COMPANIES LISTED IN TEHRAN STOCK EXCHANGE,” JOURNAL OF FINANCIAL ACCOUNTING RESEARCH, vol. 3, no. 3 (9), pp. 55–74, 2011, [Online]. Available: https://sid.ir/paper/155123/en

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