Exploring the Relationship between Disclosure Quality and the Performance of Tehran Stock Exchange Companies Using a Simultaneous Equations System

بررسی‌های حسابداری و حسابرسی

卷:21

Gholamhossein Mahdavi¹  Fatemeh Kazemnezhad²  Sajjad Behpour³ 

[1] Associate Prof. Accounting, University of Shiraz, Shiraz, Iran;

[2] MSc in Management, Estahban Payame Noor University, Estahban, Iran;

[3] PhD. Candidate in Economic, University of Shiraz, Shiraz, Iran;

关键词: Disclosure quality;    performance;    Simultaneous Equations System;   

DOI  :  10.22059/acctgrev.2014.50777

来源: DOAJ

【 摘 要 】

The so far studies, reveal a dual relationship betweendisclosure quality and firm performance. While some studies haveexamined the effects of disclosure quality on firm performance, otherstudies have examined the effects of firm performance on disclosurequality. Reviewing the evidence of the validity of both approachesmeans that there is a bilateral (two-sided) relationship between thesetwo variables. In this regard, the goal of present research is to studythe bilateral relationship between disclosure quality and performanceof 149 companies listed on Tehran Stock Exchange (TSE) during2004 to 2010. At first, the bilateral relationship between two variableswas confirmed using Granger causality test and then simultaneousequations system was estimated using two-step regression. Based onthe results, there is bilateral relationship between disclosure qualityand performance of the companies listed on the TSE. In other words,the results of the simultaneous equation system have more reliabilityand validity compared to single-equation system.

【 授权许可】

Unknown