[Home ] [Archive]   [ فارسی ]  
:: Main :: About :: Current Issue :: Archive :: Search :: Submit :: Contact ::
:: Volume 5, Issue 1 (modern theories of accounting,spring 2015,vol.5,no.1,ser.15 2015) ::
3 2015, 5(1): 123-142 Back to browse issues page
The Impact of Voluntary Disclosure of Intellectual Capital Components on Stock Returns
Ali Gasemi, Vahab Rostami, Behzad Ghorbani
Abstract:   (726 Views)
Abstract
In this study, the impact of voluntary disclosure of intellectual capital components on stock returns of companies listed in Tehran Stock Exchange's has been studied. In order to measure of voluntary disclosure of intellectual capital components, a checklist developed by Li (2007) and Ibekonel et al (2013), to gather information related to the disclosure of human capital, structural and relational capital by reports of the board of directors examined companies, has been used. Research data through multiple linear regression by using panel data and fixed effects were analyzed. In the course of this study, 137 companies through systematically sampling removed, the 5-year period 2011- 2014 statistical tests should be performed on them. The results show that this voluntary disclosure of intellectual capital components of stock returns is positive and significant effect. In other words, the components of intellectual capital, the greater the level of information disclosure, investor concerns and as a result, their investment risk will be reduced. In this case, their confidence level increase expected returns, to improve and to follow the trend of stock prices spiral upwards and eventually they will increase stock returns results in conformity with the findings of Li (2007).
Keywords: Intellectual capital, Intellectual capital components, Intellectual capital disclosure, Stock return.
Full-Text [PDF 887 kb]   (1 Downloads)    
Type of Study: Research | Subject: General
Received: 2015/03/15 | Accepted: 2014/07/17 | Published: 2015/03/21
Send email to the article author

Add your comments about this article
Your username or Email:

CAPTCHA


XML   Persian Abstract   Print


Download citation:
BibTeX | RIS | EndNote | Medlars | ProCite | Reference Manager | RefWorks
Send citation to:

gasemi A, Rostami V, Ghorbani B. The Impact of Voluntary Disclosure of Intellectual Capital Components on Stock Returns. 3. 2015; 5 (1) :123-142
URL: http://mta.raja.ac.ir/article-1-137-en.html


Rights and permissions
Creative Commons License This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.
Volume 5, Issue 1 (modern theories of accounting,spring 2015,vol.5,no.1,ser.15 2015) Back to browse issues page
فصلنامه نظریه های نوین حسابداری فصلنامه نظریه های نوین حسابداری
Persian site map - English site map - Created in 0.05 seconds with 30 queries by YEKTAWEB 4414