Objective: The value of the company is the result of various management actions and decisions. At... more Objective: The value of the company is the result of various management actions and decisions. At the same time, it is an indicator of how the market perceives the company that is derived from the extent and manner of disclosing information. This study seeks to provide a non-linear model of the relationship between voluntary disclosure and firm value in the presence of factors that are expected to have a similar capability to reduce information asymmetry or to influence the value relevance of voluntary disclosure. Methods: Accounting conservatism, product market competition, cash holding levels, corporate governance and macroeconomic instability were considered according to the theoretical and empirical literature and using the panel smooth transition regression model (PSTR), the existence of a nonlinear relationship in the presence of each of these variables was investigated. Results: The results of analysis of 124 companies listed in the Tehran Stock Exchange during 2013 to 2016 s...
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Papers by mahdieh kamran