Abstract:
In this study relationship between information asymmetry, Institutional ownership and Stock
Liquidity by Income Smoothing in Tehran Stock Exchange is expressed. So of the study by
94 companies listed on Tehran stock exchange, that include 470 company - years ،that
During is the years 2010 up 2014. Smoothing in this research using discretionary accruals
(modified Jones model) are calculated. The difference between bids to buy and sell shares
representative information asymmetry. In this study, multiple linear regression model using
F and t tests were used to test the hypotheses and for analyzing the data used spss statistics
tools. The Research indicated that thare is not significant relationship between independent
variables of Stock Liquidity and Institutional ownership and Income Smoothing. also the
finding of study manifest a significant and direct relationship between information
asymmetry and Income Smoothing. Firm size and financial leverage are control variables
.but finally Research had found not significant relationship between stated variables and
Income Smoothing.
Machine summary:
"The relationship of information asymmetry, Institutional ownership and Stock Liquidity with Income Smoothing in Tehran Stock Exchange Mansoreh Banam1 and Alireza Mehrazeen1* 1Department of Accounting, Neyshabur Branch, Islamic Azad University, Neyshabur, Iran Original Article: Received 7 April.
2016 ABSTRACT In this study relationship between information asymmetry, Institutional ownership and StockLiquidity by Income Smoothing in Tehran Stock Exchange is expressed.
4. Government organizations and public 2-5-A review of the research backgroundTable 1: Summary of results research accomplished: Internal researches and external researches 3- Research Method According to theoretical foundations and review of research,describe hypotheses as below: First Hypothesis: There is a significant relationship between stock liquidity and income smoothing.
Variable name Variable type how to computing Source of data mining Income Smoothing dependent variable ( ) Balance sheet information asymmetry independentvariable Tehran stock exchange information Institutional wnership independentvariable Stock percentage belong to major shareholders Tehran stock exchange information and The notes accompanying FinancialStatements Stock Liquidity independentvariable Stock companies ranking has announced Tehran stock exchange information Company size Control variable Logarithm of total assets Balance sheet Financial Leverage Control variable Long-term debt-to-total assets ratio Balance sheet 4-Research Findings 4-1-Descriptive statistics Since data analysis is usually with summarized statistics computing such as Mean and Standard deviation takes , so, In order to review and initial data analysis, the first the data related to descriptive statistics of the studied dependent and explanatory variables are presented in Table 3.
5-Conclusion this study examines the relationship information asymmetry ,Institutional ownership and Stock Liquidity by Income Smoothing."