International Journal of Academic Research in Accounting, Finance and Management Sciences

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Explanation of Relationship between Corporate Governance and Information Disclosure of Quoted Companies in Tehran Stock Exchange

Open access
The purpose of this research is to review the effect of corporate governance on voluntary and mandatory information disclosure of quoted companies in Tehran stock exchange. The time period of this research is 2007-2011, and it is done on a sample of 194 companies. To analyze research data in pooled/panel mode, we used regression multivariate models with fixed and random effects in Eviews 6 program. In this research, we used corporate governance mechanisms such as auditors, percentage of independent board, ownership centralization, institutional ownership, and free float stocks as independent variables. Dependent variable which is used in this research is information disclosure, which is divided into two categories: mandatory and voluntary. Control variable of this research is company size and financial leverage. Results indicate that among corporate governance mechanisms, percentage of independent board has a positive and significant effect on mandatory and voluntary disclosure of information. Moreover, institutional ownership has a positive and significant effect on mandatory disclosure of information and ownership centralization.