Mahboubeh Khodapanah; Mansour Garkaz
Volume 7, Issue 3 , July 2018, , Pages 249-256
Abstract
In this study, we examined the relationship between quality of disclosure and cost of capital. The present study has addressed the issue of whether reduction of disclosure quality increases the cost of capital? The survey included all the companies listed on the Stock Exchange of Tehran. A total of 50 ...
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In this study, we examined the relationship between quality of disclosure and cost of capital. The present study has addressed the issue of whether reduction of disclosure quality increases the cost of capital? The survey included all the companies listed on the Stock Exchange of Tehran. A total of 50 participants were selected and have been examined during the period of 2006 to 2011. Panel least squares regression analysis was used to test hypotheses and estimating the coefficients. Corporate disclosure quality in annual concessions for listed companies in Tehran Stock Exchange is used to measure the disclosure quality. The results indicate that there is the 95% confidence level and a significant negative relationship between disclosure quality and cost of capital. In fact, decline in the disclosure quality as a result of increased information asymmetry caused the investors try more to gain access to confidential information. With the increase in information asymmetries, transaction costs and increased liquidity of company’s stock shares decrease and this will be followed by the increase in the demand for the firm's cost of capital.
Haji Mohammad Sehati; Mansour Garkaz
Volume 3, Issue 2 , April 2014, , Pages 88-96
Abstract
The main objective of this study was to evaluate the effect of teaching moral behavior on auditors’ moral decisions in water and power industry in Golestan, Iran. Statistical population is all auditors of water and power companies in Golestan Province. They are of professionals and specialists ...
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The main objective of this study was to evaluate the effect of teaching moral behavior on auditors’ moral decisions in water and power industry in Golestan, Iran. Statistical population is all auditors of water and power companies in Golestan Province. They are of professionals and specialists in the area of morality and religion. Twelve auditors familiar with moral and religious subjects holding at least MA degree were selected from water and power companies in Golestan as a sample. DEMATEL technique is of decision-making methods based on paired comparisons. In DEMATEL, Taking advantage of experts’ judgments, factors are identified and systematically organized according to principles of graph theory. A hierarchy of available factors is then presented along with their causal effects. The intensity of such correlation is then defined as a numerical score. Results showed that auditors’ moral decisions are strongly influenced by moral conduct. religious knowledge and element moral sensitivity are respectively in the highest (22.02%) and the lowest (17.40%) correlation with other elements. element moral knowledge are respectively in the lowest and the highest correlation with other elements. Thus it is concluded that morality is affected by other elements the most. Moral judgment and moral conduct are in highest rank of importance comparing with other elements. Moral sensitivity is placed in the lowest rank. Moral motivation and morality are the causes of moral judgment, moral conduct and moral sensitivity.
