Accounting and Auditing Research

Accounting and Auditing Research

The relationship between quality of aggregate disclosure (mandatory and voluntary) and financial and nonfinancial characteristics of companies listed in Tehran Stock Exchange

Document Type : Original Article

Authors
Narges Sarlak
Amaneh Mohammadi
10.22034/iaar.2015.103773
Abstract
This study examines the relationship between company financial and nonfinancial characteristics and mandatory and voluntary disclosure for companies listed in Tehran Stock Exchange. For this purpose, we choose 153 companies that have been ranked in the list of disclosure ranking in Tehran Stock Exchange from 1386 to 1391 as samples. Variables such as concentration of ownership, board structure, ownership, board members, management conservation, management integrity, management efficiency, growth opportunities, product market competition, liquidity, firm age, firm size, profitability, financial leverage and asset levels have been selected as financial and nonfinancial characteristics.  Multiple regressions using panel data were applied to hypothesis testing. The results indicate positive relationship between mandatory disclosure and the efficiency of the management, the company's liquidity, profitability, financial leverage and asset quality levels. Product market competition and the quality of mandatory disclosure were in negative relationship. Also there were positive relationship between board structure, liquidity, company size, profitability, financial leverage, level of asset and the quality of voluntary disclosure. Negative relationship between board members and the quality of voluntary disclosure   has been observed. There were no relationships in the remaining cases.
Keywords
mandatory disclosure
voluntary disclosure
financial characteristics
non-financial characteristics
Accounting and Auditing Research
Volume 7, Issue 28
Winter 2016
Pages 18-35