Accounting and Auditing Studies

Accounting and Auditing Studies

The Investigate Relationship between Information Asymmetry with stock Liquidity and Transaction of Listed Companies in Tehran Stock Exchange

Document Type : Original Article

Authors
Saber Jalili
Yones Badavareh Nahandi
Behroz Karimi
10.22034/iaas.2013.105431
Abstract
This research deals with the relationship between information asymmetry, trading volume and liquidation of firms accepted in Tehran stock exchange. In this study to measure the stock trading from the trading volume and the number of trading and for measuring the liquidation from stock liquidity, market liquidity and market liquidity risk as well as to test the hypotheses used multiple variable linear regression method and because of the studied type of data, combined data method was used, combined data are shown in two forms: panel data and pooling data. For choosing between panel data and pooling data, F-Limer test was used. This research is in terms of application and the nature of the cross -correlation. The samples of this research are those firms that are accepted in Tehran Stock Exchange for the years 1384 to 1390, that with using of elimination of systematic sampling method, 94 firms have been in the sample for this study. For doing all the estimations, Stata statistical software was used.
The findings of present research indicate that between stock trading and information asymmetry there is a significant inverse relationship and also there is a significant negative relationship between stock liquidity and information asymmetry. So it can be concluded that with the increase in stock trading and stock liquidity, information asymmetry is reducing.
Keywords
Information asymmetry
stock trading
stock liquidity
Tehran Stock Exchange
Accounting and Auditing Studies
Volume 2, Issue 8
Winter 2020
Pages 84-99