Investigating the effect of voluntary disclosure of information on the company's risk-taking, emphasizing the role of managerial ownership in companies listed on the Tehran Stock Exchange.

safieh mehrinejad ¹ ( Management Faculty. Islamic Azad University Central Tehran branch . Tehran . Iran )

Submited date : 2022-12-27 Accepted date : 2024-01-15

Keywords: Managerial Ownership, voluntary disclosure of information, company risk taking,

Abstract :

The main purpose of the current research is to investigate the effect of voluntary disclosure of information on the company's risk-taking, emphasizing the role of managerial ownership in companies listed on the Tehran Stock Exchange during the years 2011 to 2019. The statistical sample of the research is 159 companies. The research method is descriptive-correlation with applied approach. The method of collecting information in the theoretical foundations section was the library method, and in the hypothesis testing section, the document analysis method of financial statements was used. In general, the hypothesis testing method is correlation and multiple regression. The results of the research showed that the voluntary disclosure of information has a direct and significant effect on the company's risk-taking, and increasing the percentage of managerial ownership strengthens this effect. The results related to the control variables showed that the financial leverage and the ratio of accruals have an inverse and significant effect on the company's risk-taking, and the effect of the company's size and operating cash flow on the company's risk-taking; it is direct and meaningful