M.H. Setayesh0F; M. Ebrahimi Maimand1F
Abstract
Today companies try to say that they are a good investment choice and Attempt to improve firm value by disclosure of information. In this study relationship between ownership by different types of institutional investors - including Dedicated, Quasi-Indexing and Transient institutions - and disclosure ...
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Today companies try to say that they are a good investment choice and Attempt to improve firm value by disclosure of information. In this study relationship between ownership by different types of institutional investors - including Dedicated, Quasi-Indexing and Transient institutions - and disclosure quality, is examined. For this purpose data from 103 companies listed in Tehran Stock Exchange for period of 2007 to 2012 was analyzed using the logistic regression model. Companies’ score for disclosure, issued by Security and Exchange Organization, is used to measure the disclosure quality. Results show that quality of disclosure is different for companies owned by different types of institutions. Results show that there is direct and significant relationship between ownership by dedicated institutions and quality of disclosure, and ownership by Transient institutions and quality of disclosure are in an indirect significant relationship. Also there were no significant relationship between Quasi-indexing institutions and quality of disclosure
