Accounting information role in Tehran stock exchange investor’s reaction; Study of forecasted earnings

Abstract

According to information disclosure instruction for listed companies in Tehran stock exchange, these companies have to disclose annual performance anticipates as well as anticipates of actual performance based on 3, 6, and 9 months. Regarding disclosure of this information by listed companies, it is necessary to investigate the effects of it for users. The purpose of this study is to measure the effect of aforementioned midterm earnings disclosure on investors. Thus, three hypotheses were formulated based on the influences of these anticipated earnings. Research hypotheses were tested and analyzed according to financial information of listed companies in Tehran stock exchange from 1382 to 1392. Finally, findings show earning response model improvement and simultaneous significance of anticipated earnings. Keywords: earning response, anticipated earnings, disclosure. According to information disclosure instruction for listed companies in Tehran stock exchange, these companies have to disclose annual performance anticipates as well as anticipates of actual performance based on 3, 6, and 9 months. Regarding disclosure of this information by listed companies, it is necessary to investigate the effects of it for users. .

Keywords

• earning response
• anticipated earnings
• Disclosure