The investigation of the effect of voluntary disclosure on earnings quality and cost of capital in firms listed in Tehran Stock Exchange

Saied Jabbarzadeh Kangarlouei, Hamed Rezaei and Morteza Motavassel

International Journal of Empirical Finance, 2013, vol. 1, issue 1, 1-6

Abstract: The aim of this study is to investigate the effect of voluntary disclosure on earnings quality and cost of capital in firms listed in Tehran Stock Exchange. For achieving research objectives, 93 firms are selected to be studied during the period of 2008 to 2010. Voluntary disclosure is considered as independent variable and earnings quality and cost capital as dependent variables. To test research hypotheses applying SPSS software, univariate regression is used. The results show that voluntary disclosure has an impact on earnings quality and cost of capital. The relationship between voluntary disclosure and earnings quality is positive and significant the relationship between voluntary disclosure and cost of capital is negative and significant. The results of this study show that companies with high level of voluntary disclosure can increase their quality of earnings and reduce cost of capital.

Keywords: Voluntary Disclosure; Earnings Quality; Cost of Capital; Tehran Stock Exchange. (search for similar items in EconPapers)
Date: 2013
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