چکیده:
When information transfer is done unequally and asymmetrically among the individuals, different
results may be created for the same issue. Information asymmetry may have undesirable outcomes
such as market efficiency reduction, exchange costs' increase, market weakness, low liquidation, and on the whole, a reduction of earnings resulted from exchanges in capital markets. Accordingly the present research is going to study about the effect of earning management on information asymmetry in uncertainty conditions in firms enlisted in Tehran Stock Exchange. In this research 120 firms enlisted in Tehran Stock Exchange during the time period between 2009 and 2013 have been
investigated. To test research hypotheses we have used panel data linear regression model. Research findings showed that in a complex and dynamic environment, there has not been a meaningful relationship between earning management and information asymmetry but overally (without dividing the complex and dynamic populations) there has been a positive and meaningful relationship between earning management and information asymmetry.
خلاصه ماشینی:
"Studying the effect of earning management on information asymmetry in uncertainty conditions in Tehran Stock Exchange Pejman Haji Mohammad Hossein Kashi1 and Ali Zabihi2 1MA student of financial management, Department of Accounting, Sari Branch Islamic Azad University, Sari, Iran E-mail: kashi.
Accordingly the present research is going to study about the effect of earning management on information asymmetry in uncertainty conditions in firms enlisted in Tehran Stock Exchange.
Hypotheses development Regarding what was pointed above and research questions, the hypotheses in this study could be presented in the form of two major hypotheses as follows: Hypothesis 1: The relationship between earning management and information asymmetry is weaker in environmental uncertainty conditions.
Regarding the first research hypothesis we can say that since the presentation of pooled financial statements (complex environmental index) is commonly seen in big companies, they emphasize more on information asymmetry and earning management because these factors can present lots of information to the market after the manager exits the firm and this results in stock price reduction.
Accordingly, the presentation of pooled financial statements in these firms that is a factor in complex environmental conditions, can not be considered as an effective factor in the relationship between earning management and information asymmetry.
Also regarding the rejection of the second hypothesis, the effect of sales changes coefficient (dynamic environment index), on the relationship between earning management and information asymmetry we can say that these variables are controlled by the owners of economic unit and it is highly important for the owners."