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.
