Seyed Ali Hosseini; Afsaneh Bahiraei
Abstract
Voluntary disclosure is a surplus information on the legal requirement that includes financial and non-financial information for the more clarity of the company's processes. Voluntary disclosure as a kind of informed mechanism may be associated with different processes in the company. As a result, companies, ...
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Voluntary disclosure is a surplus information on the legal requirement that includes financial and non-financial information for the more clarity of the company's processes. Voluntary disclosure as a kind of informed mechanism may be associated with different processes in the company. As a result, companies, based on the composition of their board of directors, make decisions about the voluntary disclosure of information and may vary according to the type of political and non-political directors. The purpose of this study was to investigate the effect of political connection on the information voluntary disclosure in companies listed in Tehran Stock Exchange. In this regard, numbers of 124 companies were selected for the period from 2012 to 2017. To measure voluntary disclosure, the Botosan (1997) checklist and for measuring political connections, political cost index from Faccio (2006) has been used. The panel data approach was also used to test the research hypotheses. The results showed that political connection has a negative and significant effect on the voluntary disclosure of information. In fact, companies that have more political connection are more inclined to voluntarily disclose information.
Ali Rahmani; Nazanin Bashirimanesh
Abstract
Voluntary disclosure of managers as one of the mechanisms of transparency are noticed by analysts and capital market participants. Identifying the determinants of voluntary disclosure can help to understand the factors that affected the transparency and efficiency of capital market and efficiency of ...
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Voluntary disclosure of managers as one of the mechanisms of transparency are noticed by analysts and capital market participants. Identifying the determinants of voluntary disclosure can help to understand the factors that affected the transparency and efficiency of capital market and efficiency of resource allocation. In this study, the characteristics of the company, corporate governance and stakeholder power as the determinants of voluntary disclosure will be discussed. The sample consisted of 146 companies listed on Tehran Stock Exchange in the period 2010- 2015. The hypothesis of this study is investigated with the structural equation modeling and multivariate regression to be comprehensive analysis of the effect of latent variables and their components on voluntary disclosure. The findings show, company's structural features have a positive and significant impact and company's performance features have significant and negative impact on the level of voluntary disclosure. Features of the board of directors, ownership structure and audit have positive and significant impact on the level of voluntary disclosure. Also Internal stakeholders, significant negative impact as well as external stakeholders have positive and significant impact on their level of voluntary disclos
Hamzeh Didar; Gholam Reza Mansourfar; Hiva Khojaste
Volume 8, Issue 32 , January 2011, , Pages 141-168
Abstract
This study attempts to find a proper answer to the question of why some firms disclose less than other firms do; although, the disclosure information is important for users of information? Alternatively, why different companies, disclose in different levels of information? ...
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This study attempts to find a proper answer to the question of why some firms disclose less than other firms do; although, the disclosure information is important for users of information? Alternatively, why different companies, disclose in different levels of information? For this end, using the panel data analysis the impact of firm's characteristics (size, tangibility, leverage, profitability and growth in profitability) are investigated on different disclosure levels for 128 listed companies in Tehran Stock Exchange during 2003- 2009 periods. Our findings imply that, the tangibility, leverage, and profitability affect the disclosure level; however, the size and growth opportunity have an insignificant effect on disclosure. This might be due to the difference in nature of the mandatory and voluntary disclosure. All companies regardless to their situation in the market are forced to disclose their information. Therefore, the accomplished analyses through mandatory and voluntary disclosure level have been also analyzed and compared. The results show that firm's characteristics affect the voluntary section of total disclosure only.
