Providing a model of relationship between factors affecting the level of disclosure of environmental, social and economic information of companies and information asymmetry based on positive accounting theories with the industry impact approach

Document Type : Research Paper

Authors

1 Accounting Department,kish International Branch,Islamic Azad University ,Kish Island,Iran.farnazzi@yahoo.com

2 Associate Professor, Department of Accounting and Financial Management, Science and Research Branch, Islamic Azad University, Tehran, Iran

3 college faculty member

Abstract

1.Introduction
In order to change the business environment and move towards sustainable development goals, companies must consider maximizing social justice, environmental quality and economic prosperity for all their stakeholders in society and information. Reveal their performance in this regard. On the other hand, one of the problems of the capital market, which will lead to the risk of moral abuse, undesirable selection and uncertainty in the market, is the inequality of information between domestic and foreign stakeholders due to differences in access to this information, which is essentially confidential. . In this study, the importance of disclosure of the mentioned information, the impact of industry on the level of disclosure, has been investigated. They have been evaluated and measured.
 
Hypotheses
 
H1: Disclosure of companies' social information is effective in reducing information asymmetry.
H2: Disclosure of companies' environmental information is effective in reducing information asymmetry.
H3: Disclosure of companies' economic information is effective in reducing information asymmetry.
H4: The level of disclosure of companies' social information is significantly different in different industries.
H5: The level of disclosure of environmental information of companies in different industries is significantly different.
H6: The level of disclosure of economic information of companies has significant differences in different industries.
3.Research Method
 This research is of theoretical-applied type. The performance information of 76 companies listed on the Tehran Stock Exchange from six selected industries selected by screening has been reviewed in the period 2011-2018. To test the hypotheses of this research, combined linear regression test and analysis of variance have been used.
 
Results
 
The results of regression test for the first to third hypotheses of the study showed that disclosure of information in the field of social responsibility, environmental and economic of companies is effective in reducing information asymmetry. Also, based on the results of analysis of variance for the fourth to sixth hypotheses of this study, the level of information disclosure of companies in the field of social responsibility and environmental in different industries is different.
 
Discussion and Conclusion
 
Based on the results of analysis of variance, the level of disclosure of environmental and social information under the influence of industry has been significantly different; Economic information is disclosed at almost the same level in all industries. Also, the results of regression test showed that information disclosure in the mentioned areas has led to a reduction in information asymmetry.
 
 
 

Keywords

References

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Journal of Accounting Advances
Volume 13, Issue 1 - Serial Number 81
October 2021
Pages 225-260

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History

  • Receive Date: 18 May 2021
  • Revise Date: 16 November 2021
  • Accept Date: 20 November 2021

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