THE INFLUENCE OF INFORMATION RISK ON FIRMS, GROSS COST OF DEBT AND ADJUSTED COMMON STOCK COST

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REZAEI F.; WEYSI HESAR S.

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Journal: FINANCIAL KNOWLEDGE OF SECURITY ANALYSIS (FINANCIAL STUDIES) Year:2013 | Volume:6 | Issue:17 Page(s): 29-44

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Title

THE INFLUENCE OF INFORMATION RISK ON FIRMS, GROSS COST OF DEBT AND ADJUSTED COMMON STOCK COST

Author(s)

REZAEI F. | WEYSI HESAR S. | Issue Writer Certificate

Keywords

INFORMATION RISKQ3

INNATE COMPONENT OF ACCRUALSQ3

DISCRETIONARY COMPONENT OF ACCRUALSQ3

GROSS COST OF DEBTQ3

ADJUSTED COMMON STOCK COSTQ3

QUALITY OF ACCOUNTING INFORMATIONQ3

Abstract

The purpose of this study is survey of relationship between accruals quality as index of INFORMATION RISK and cost of capital in Tehran Stock Exchange. In this study to measure the quality of accruals was used of McNichols model–based estimation error approach. While in previous research wasn’t distinguished between components of cost of capital, in this study showed that cost of capital to be divided into two components: 1. GROSS COST OF DEBT, 2. ADJUSTED COMMON STOCK COST which was required at least four registered companies for estimation in each industry. Research’s hypothesis was examined and tested based on a statistical sample which was consist of 80 companies during 5–year period from 1384 till 1388 with using multivariate regression model and cross–sectional data. Accruals quality have been separated into innate and discretionary components in order to the result of both component to be considered on cost of capital. The result shows that there was meaningful relationship between accruals quality and cost of capital. In other word, the cost of capital in companies which have low accruals quality is more than ones which have high accruals quality, and also there was meaningful relationship between components of accruals quality and cost of capital but can’t be said that INNATE COMPONENT OF ACCRUALS quality have more influence over cost of capital than its discretionary component.

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APA: Copy

REZAEI, F., & WEYSI HESAR, S.. (2013). THE INFLUENCE OF INFORMATION RISK ON FIRMS, GROSS COST OF DEBT AND ADJUSTED COMMON STOCK COST. FINANCIAL KNOWLEDGE OF SECURITY ANALYSIS (FINANCIAL STUDIES), 6(17), 29-44. SID. https://sid.ir/paper/200386/en

Vancouver: Copy

REZAEI F., WEYSI HESAR S.. THE INFLUENCE OF INFORMATION RISK ON FIRMS, GROSS COST OF DEBT AND ADJUSTED COMMON STOCK COST. FINANCIAL KNOWLEDGE OF SECURITY ANALYSIS (FINANCIAL STUDIES)[Internet]. 2013;6(17):29-44. Available from: https://sid.ir/paper/200386/en

IEEE: Copy

F. REZAEI, and S. WEYSI HESAR, “THE INFLUENCE OF INFORMATION RISK ON FIRMS, GROSS COST OF DEBT AND ADJUSTED COMMON STOCK COST,” FINANCIAL KNOWLEDGE OF SECURITY ANALYSIS (FINANCIAL STUDIES), vol. 6, no. 17, pp. 29–44, 2013, [Online]. Available: https://sid.ir/paper/200386/en

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