Study of Information Asymmetry Effect on Price Synchronism in Tehran Stock Exchange

Accounting profit always as an exhibited item in financial statements has been considered by investors whom are attended as the most significant users of financial statements, so profit is a basis for the most economical decisions. In the research, the effect of information asymmetry with price sync...

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Bibliographic Details
Main Authors: Morteza Doosti Seyyed Shekari, Babak Jamshidinavid
Format: Article
Language:English
Published: EconJournals 2017-12-01
Series:International Journal of Economics and Financial Issues
Subjects:
Online Access:https://dergipark.org.tr/tr/pub/ijefi/issue/32006/353559?publisher=http-www-cag-edu-tr-ilhan-ozturk
Description
Summary:Accounting profit always as an exhibited item in financial statements has been considered by investors whom are attended as the most significant users of financial statements, so profit is a basis for the most economical decisions. In the research, the effect of information asymmetry with price synchronism (a criterion to measure the proportional amount of corporate special information, which has been reflected in price) have been investigated in accepted corporations in Tehran stock exchange. In research information asymmetry is independent variable and price synchronicity is dependent variable. Price Synchronism is an amplitude which shows industry and market returns and stock return differs in corporation level. The research is an applied research based on its aim, is measuring and describing based on its performance and is one of the best. 127 corporations from 2010 to 2014 have been chosen by systematic deletion. To test research hypotheses Panel Data method and Fixed Effect method have been used. Research conclusions show that there is no relationship between information asymmetry with price synchronism.
ISSN:2146-4138