DISCLOSURE QUALITIES AND INFORMATION EFFICIENCY: EVIDENCE FROM LISTED COMPANIES IN TEHRAN STOCK EXCHANGE

Abstract

In a market where stock price, is effective both as desirable and optimal capital allocation is done and the stock price is determined properly and fair. On the other hand, improved disclosure by reducing information asymmetry and ultimately reduce the changes of stock returns, market efficiency is improved. And forecast earnings By the Relationship between Earnings changes and Stock price, increases to be efficiency. The main aim the present study is to determine the Relationship between disclosure quality and information efficiency in firm accepted in Tehran stock exchange. After sampling impose restrictions, the data of 87 company in the period 2010 to 2012 that included 261 observed for analyze the extraction and were used. To analyze the data Pearson correlation test was used. The results indicate that between reliability and timeliness of disclosure with information efficiency for 30 and 60 day there was no significant relationship.