A Study of the Relation between Financial Information Transparency and Firms Characteristics of Listed Companies on Tehran Stock Exchange

In this study, the transparency of accepted corporations in Tehran stock exchange is measured by determined transparency scales in "Bushman, Piotroski & Smith" (2004). The Characteristics of corporations are classified into two groups of variables: Structural (size of corporation, leverage) and related to market (type of industry and listing status). This study measures the relation of financial information transparency and Characteristics of accepted corporations in Tehran stock exchange and the correlation of financial information transparency with elements such as size of corporations, pyramidal scale, type of industry and listing status are examined. In this study, the studied population is all of the accepted corporations in Tehran stock exchange in 2009. The Spearman & Pierson correlation coefficients are used to examine hypothesis and logistic regression is used to design the model to measure the transparency. Results show that in level of 95% significance the transparency of financial information is significantly related to size of corporations and listing status and doesn’t have any dependency on lever scale and type of industry.

Transparency Criteria, Transparency of Financial Information, Characteristics of Corporations