Document Type : Research Paper
Abstract
Investigation The quality of financial information disclosure effect on current and future stock return of listed companies of Tehran Stock Exchange
The goal of present research is to study the effect of disclosure quality on current and future stocks return of listed companies of Tehran Stock Exchange (TSE). In this regard, the effects of firm size, book value to market price ratio and the ratio of income to firm price have been controlled either. In order to measuring the disclosure quality variable, the points accrued to each companies by TSE organization have been utilized throughout “Disclosure quality and proper informing “announcement. Statistical society of present study consists of 114 listed companies of Tehran Stock Exchange during 1382 to 1389. Analysis results express that disclosure quality has significant positive effect on current and future stock returns of listed companies of TSE. Moreover, in all hypotheses the relations between control variables of firm size, book value to market price ratio, ratio of income to firm price and stock returns were significant.
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