Document Type : Original Article


Department of Accounting, Boroujen Branch, Islamic Azad University, Boroujen, Iran


Based on classical and neoclassical economic theories, efficiency has a direct relationship with risk, and considering that the purpose of forming companies is to obtain more efficiency, therefore risk-taking is in the essence of the corporate system. On the other hand, companies should apply a reasonable level of risk-taking in order to insure themselves against damages caused by unreasonable risk-taking. The risk tolerance of companies is influenced by various factors. The current research was conducted with the aim of investigating the effect of voluntary disclosure of information on risk taking, considering the moderating role of managerial ownership. For this purpose, research hypotheses were tested by collecting information from 125 companies admitted to the Tehran Stock Exchange during the period of 2015 to 2021 and using the multivariable regression method. This research was applied from the point of view of the objective and the method of analysis was descriptive-correlation. The findings of the research showed that the level of voluntary disclosure of information has a positive and significant effect on the company's risk-taking. Also, the results of the research indicate that managerial ownership has strengthened the positive effect of the level of voluntary disclosure of information on the company's risk-taking.


Main Subjects

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