Evaluating Proposed Financial Transparency Model Based on Liquidity Risk of Stock

Despite the importance of transparency, a generally accepted definition of transparency has not been provided yet. Several methods for the measurement of transparency have been used that resulted in different justifications in the measurement. In this study, to assess the transparency and quality of...

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Autores principales:	Farzaneh Yousefiasl Asl, Mahnaze Molanazari, Gholamreza Soleimany Amiri
Formato:	article
Lenguaje:	FA
Publicado:	Shahid Bahonar University of Kerman 2016
Materias:	financial reporting transparency price impact measure liquidity skewness Accounting. Bookkeeping HF5601-5689
Acceso en línea:	https://doaj.org/article/22041f0248b3412e8d4b921b8535f932
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spelling	oai:doaj.org-article:22041f0248b3412e8d4b921b8535f9322021-11-04T19:50:47ZEvaluating Proposed Financial Transparency Model Based on Liquidity Risk of Stock2008-89142476-292X10.22103/jak.2016.1436https://doaj.org/article/22041f0248b3412e8d4b921b8535f9322016-05-01T00:00:00Zhttps://jak.uk.ac.ir/article_1436_be7b05303be0627352273a4aa1ee4203.pdfhttps://doaj.org/toc/2008-8914https://doaj.org/toc/2476-292XDespite the importance of transparency, a generally accepted definition of transparency has not been provided yet. Several methods for the measurement of transparency have been used that resulted in different justifications in the measurement. In this study, to assess the transparency and quality of company's disclosure, we proposed a model by reference to theoretical studies and the respected literature, as well as environmental properties of the country. To examine validity of the model, a questionnaire was designed, and based on experts’ analysis, all the parameters of the model were verified. Then, the model for the negative relationship between transparency and liquidity risk of stocks was examined, and compared with the disclosure score of the Stock Exchange. To assess liquidity risk, we used daily price impact measures of the stocks and the resulted indicators for them. The findings showed that there is significant negative relationship between the proposed financial reporting transparency and liquidity risk indicators, while the relationship between the score of disclosure of the Stock Exchange and these variables are not meaningful.Farzaneh Yousefiasl AslMahnaze MolanazariGholamreza Soleimany AmiriShahid Bahonar University of Kermanarticlefinancial reporting transparencyprice impact measureliquidity skewnessAccounting. BookkeepingHF5601-5689FAمجله دانش حسابداری, Vol 7, Iss 24, Pp 113-136 (2016)
institution	DOAJ
collection	DOAJ
language	FA
topic	financial reporting transparency price impact measure liquidity skewness Accounting. Bookkeeping HF5601-5689
spellingShingle	financial reporting transparency price impact measure liquidity skewness Accounting. Bookkeeping HF5601-5689 Farzaneh Yousefiasl Asl Mahnaze Molanazari Gholamreza Soleimany Amiri Evaluating Proposed Financial Transparency Model Based on Liquidity Risk of Stock
description	Despite the importance of transparency, a generally accepted definition of transparency has not been provided yet. Several methods for the measurement of transparency have been used that resulted in different justifications in the measurement. In this study, to assess the transparency and quality of company's disclosure, we proposed a model by reference to theoretical studies and the respected literature, as well as environmental properties of the country. To examine validity of the model, a questionnaire was designed, and based on experts’ analysis, all the parameters of the model were verified. Then, the model for the negative relationship between transparency and liquidity risk of stocks was examined, and compared with the disclosure score of the Stock Exchange. To assess liquidity risk, we used daily price impact measures of the stocks and the resulted indicators for them. The findings showed that there is significant negative relationship between the proposed financial reporting transparency and liquidity risk indicators, while the relationship between the score of disclosure of the Stock Exchange and these variables are not meaningful.
format	article
author	Farzaneh Yousefiasl Asl Mahnaze Molanazari Gholamreza Soleimany Amiri
author_facet	Farzaneh Yousefiasl Asl Mahnaze Molanazari Gholamreza Soleimany Amiri
author_sort	Farzaneh Yousefiasl Asl
title	Evaluating Proposed Financial Transparency Model Based on Liquidity Risk of Stock
title_short	Evaluating Proposed Financial Transparency Model Based on Liquidity Risk of Stock
title_full	Evaluating Proposed Financial Transparency Model Based on Liquidity Risk of Stock
title_fullStr	Evaluating Proposed Financial Transparency Model Based on Liquidity Risk of Stock
title_full_unstemmed	Evaluating Proposed Financial Transparency Model Based on Liquidity Risk of Stock
title_sort	evaluating proposed financial transparency model based on liquidity risk of stock
publisher	Shahid Bahonar University of Kerman
publishDate	2016
url	https://doaj.org/article/22041f0248b3412e8d4b921b8535f932
work_keys_str_mv	AT farzanehyousefiaslasl evaluatingproposedfinancialtransparencymodelbasedonliquidityriskofstock AT mahnazemolanazari evaluatingproposedfinancialtransparencymodelbasedonliquidityriskofstock AT gholamrezasoleimanyamiri evaluatingproposedfinancialtransparencymodelbasedonliquidityriskofstock
_version_	1718444577539489792

Evaluating Proposed Financial Transparency Model Based on Liquidity Risk of Stock

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